2025-03-31-accounts

Company number: 10015893 Charity number: 1166577

The Think Ahead Organisation

Report and financial statements For the year ended 31 March 2025

The Think Ahead Organisation For the year ended 31 March 2025

Reference and administrative information ............................................................................................. 1 Message from the Chair of the Board ..................................................................................................... 3 Message from the CEO ........................................................................................................................... 4 Trustees’ annual report .......................................................................................................................... 5 Independent auditor’s report ................................................................................................................ 17 Statement of financial activities (incorporating an income and expenditure account) ......................... 21 Balance sheet ...................................................................................................................................... 22 Statement of cash flows ........................................................................................................................ 23 Notes to the financial statements ......................................................................................................... 24

The Think Ahead Organisation For the year ended 31 March 2025

Charity details

Registered name and charity number:

The Think Ahead Organisation 1166577 (registered in England & Wales)

Company number

10015893 (country of incorporation United Kingdom)

Registered office address

Unit 318, Record Hall, 16-16A Baldwins Gardens, London, EC1N 7RJ

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Professor Dame Carol Black – Chair (resigned 12 December 2024) Aparajita Ajit (appointed 3 July 2024) Dr Ruth Allen (resigned 3 November 2024) Professor Kamaldeep Bhui (resigned 22 January 2025) Levi Chambers-Cook Professor David Croisdale-Appleby OBE (resigned 3 February 2025) James Darley (resigned 3 November 2024) Peter Hay – Chair (appointed 12 December 2024) Jayne King John Lawlor (resigned 30 June 2025) Peter Molyneux (appointed 3 July 2024) Stephen Oldfield (appointed 3 November 2024) Sharon Rice-Oxley (resigned 3 February 2025) Lyn Romeo (appointed 3 November 2024) Liam Sloan (appointed 3 July 2024) Nicholas Timmins (resigned 3 November 2024)

Company Secretary Douglas Ridley (appointed 1 July 2024)

Key management Philippa Mariani, Chief Executive Douglas Ridley, Finance and Operations Director Penelope East, External Relations Director (resigned 2 May 2025) Rachel Slade, Programme Director (resigned 3 January 2025) Olivia Cayley, Programme Director (appointed 1 April 2025)

1

The Think Ahead Organisation For the year ended 31 March 2025

Bankers Lloyds Bank plc Villiers House, 48-49 The Strand, London, WC2N 5LL Solicitors Bates Wells Braithwaite 10 Queen St Place, London, EC4R 1BE Stone King LLP Boundary House, 91-93 Charterhouse Street, London, EC1M 6HL Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110, Golden Lane, London, EC1Y 0TG

2

The Think Ahead Organisation For the year ended 31 March 2025

Message from the Chair of the Board

Peter Hay, CBE

It’s a privilege to be writing my first message as Chair of Think Ahead. It is clear to me what a truly special organisation this is. Our mission at Think Ahead – to support a thriving mental health workforce that has the investment it needs to support people to live the life they want and deserve - remains as important today as it was when it began ten years ago.

As a social worker myself, I know just how important it is for people to have access to holistic, personalised support. Mental health challenges don’t happen in isolation from the circumstances of our lives. Issues like housing, financial insecurity, discrimination and relationships all have the potential to deeply affect us. Mental health social workers, and the organisations that champion them, play a vital role in helping people navigate those challenges and regain control of their lives and health.

I want to pay tribute to the exceptional team at Think Ahead. This has been a demanding year for everyone involved in the organisation, not least as we navigated the difficult news about the future of the funding of our flagship mental health social work programme. Throughout the year, the professionalism, resilience and unwavering commitment of the team has shone brightly.

Their work has delivered real impact through our workforce training and development – supporting 452 people to enter and progress within the mental health social work profession, strengthening careers through our alumni network, and being part of recruitment and retention solutions for NHS and local authority partners. They have also powerfully advocated for a workforce too often overlooked in national conversations.

It has been heartening to see how Think Ahead has continued to share its knowledge and influence to connect people across the mental health and social care sectors.

For me, joining Think Ahead has felt like reinvigorating the values that first drew me into social work: a belief in people’s potential, a commitment to social justice, and the conviction that no one should be defined by their challenges. I am proud to stand alongside this organisation and to play a part in shaping its future.

Thank you to everyone – the team, trustees, partners and supporters - who has contributed to Think Ahead’s work this year. I look forward to working with you all in the months and years ahead.

3

The Think Ahead Organisation For the year ended 31 March 2025

Message from the CEO

Philippa Mariani, CEO

Celebrating our 10[th] anniversary this year offered us a moment for reflection - on how far we’ve come, the challenges we’ve faced, and the work that lies ahead.

Think Ahead was created to make the social, economic and environmental factors affecting the nation’s mental health the bedrock of training for careers in the sector. With over 1,250 people joining our programme to become mental health social workers since we started out, we’ve certainly been delivering on that ambition. We have enabled and encouraged people passionate about mental health to join the sector. But more than that: we’ve been helping change the way mental health support is delivered, bringing health and social care closer together, and championing approaches that see and support the whole person, not just their diagnosis.

We’ve worked hard this year to keep the social approach and social work in the spotlight. We recruited 162 new participants to our flagship mental health social work programme, launched a new short training course for qualified social workers supporting people living with mental health and substance use issues, and we extended our alumni offer to include ongoing peer support and mentoring to newly qualified social workers.

We were also pleased to broaden our work this year, deepening our partnerships across the sector to support other parts of the mental health workforce. This included working with Social Finance to help grow the Individual Placement and Support (IPS) workforce, which offers holistic support to help people with mental health needs gain meaningful employment. And we supported the embedding of national standards for Approved Mental Health Professionals (AMHPs) who are responsible for upholding human rights of people being assessed under the Mental Health Act.

We’ve remained firmly committed to ensuring our professionals are prioritised by policy makers - because a thriving mental health workforce is essential for proper support. This year we were proud to launch our new campaign Social Work Matters, raising awareness of the impact of social work in mental health services and pushing for recognition in the NHS 10-year plan. We know from the many stories people have shared with us over the years the transformative difference a Think Ahead mental health social worker can make, and just how vital their role and relationship is. As one person supported by a mental health social worker put it: “Unlike a doctor or nurse who looks at your symptoms and treatment, they look at your whole life.”

It’s against this backdrop that we must also acknowledge the difficult times we face as an organisation. We were deeply disappointed by the recent decision from the Department of Health and Social Care not to continue funding the Think Ahead programme for the 2026 Cohort and beyond. While our 2025 Cohort will go ahead as planned, the withdrawal of this support poses significant challenges for our future.

Although saddened by this decision, our belief in the importance of our mission is as strong as ever.

As we look to the next chapter, we remain firmly committed to advocating for the role of mental health social work and for social approaches to be embedded in training and development for the wider mental health workforce, for the people who dedicate their careers to it, and for the individuals and communities whose lives are transformed by it.

4

The Think Ahead Organisation For the year ended 31 March 2025

Thank you to everyone who has walked with us over the past decade - we look forward to what we can build together in the years ahead.

Trustee’s annual report

The Trustees present their report and the audited financial statements for the year ended 31[st] March 2025.

The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice – Accounts and Reporting by Charities: SORP applicate to charities preparing their accounts in accordance with FRS 102.

About us

Founded in 2014, Think Ahead launched its flagship mental health social work training programme to embed the social approach in mental health services and attract passionate professionals into the sector. Every year, we recruit up to 160 graduates and careerchangers into mental health: providing a combination of academic learning and practicebased training through placements in NHS mental health trusts and local authorities across England.

We advocate for a social approach in mental health services, knowing what a profound effect complex life issues can have on people’s mental health and wellbeing. We also advocate for the mental health workforce itself, knowing that effective support can only exist if there is a thriving workforce empowered to deliver it.

Our vision is a thriving mental health workforce able to support people to live the life they want and deserve.

Our mission is to recruit, train and promote a thriving mental health workforce. We advocate for professionals to have the resources needed to deliver the right support at the right time.

Looking back

Our flagship mental health social work programme – investing in the workforce

This year we were pleased to welcome 162 trainees into our ninth cohort this year and see 131 of our second-year trainees graduate from the programme, entering the mental health workforce as newly qualified social workers.

Our trainees contribute to a wide range of adult mental health services, including: community mental health, perinatal services, forensic settings, services for older adults, learning disability teams, and early intervention in psychosis. In 2024/25, we partnered with NHS trusts and local authorities in 25 of the 42 Integrated Care Systems in England.

Under the supervision of dedicated Think Ahead consultant social workers, our trainees support people living with severe and long-lasting mental health needs from the start of the programme. Trainees qualify with a postgraduate diploma in social work from our academic partner, Middlesex University, in their first year, and build expert knowledge and confidence

5

The Think Ahead Organisation For the year ended 31 March 2025

by completing a master’s degree in social work and an assessed and supported year in employment (ASYE) as newly qualified social workers in their second year.

Continuous improvement remains central to our approach. Through ongoing engagement with trainees, operational leads in our partner organisations, and people with lived experience of mental health services, we regularly review and refine our programme to ensure it meets the evolving needs of practitioners, services, and communities. In addition to safeguarding the quality and safety of the trainee experience, we have placed increasing emphasis on understanding and enhancing the impact our partnerships have within NHS trusts and local authorities.

We are proud to report that in 2024, 90% of our workforce partners told us that Think Ahead social workers deliver meaningful support to their service users and 86% of workforce partners believe our social workers make an impact within their first year in the team.

The Alumni Community – building value and leadership

We are committed to ensuring our alumni have the training, support and opportunities to thrive in their careers. With over 800 members, our alumni community provides past trainees and the senior social workers involved in their training with a space to connect and learn from one another.

We work with alumni on three key areas: growing a community of support, continued professional development to progress in their careers, and opportunities to contribute to our flagship training programme. In a recent survey of the community, 65% of respondents confirmed that our training and CPD opportunities were the most valuable to them, with one person explaining:

“ [it is] high quality training that feels different from on-the-job training. I feel it comes from a different angle that adds interest and deeper understanding.”

Our event series this year covered a range of topics from Leadership, Ethical Practice and Disability Awareness to a Neurodiversity series in partnership with BASW. Our training sessions “Transgender awareness for social workers: Gender identity, human rights and the law” and “Working with Refugees and Asylum Seekers” were two of the most popular to date.

The Alumni Community partnered with the educational charity, With Insight Education, who are working to ensure Black-heritage students are represented at university and in careers. Members of our alumni community spoke to Black secondary school students, to broaden the students’ understanding of the mental health sector and the career options available to them. Alumni took part in an online event and facilitated a workshop for careers week at Highgate Woods School.

Our peer mentoring programme, launched last year, has come to fruition with 100% of the mentees reporting they would recommend the scheme to other Think Ahead trainees. We matched 20 final year trainees with 20 alumni to support them as they navigate the completion of their academic studies, alongside the responsibilities of their first year as a qualified social worker. Mentors and mentees connected through online and in person check ins, discussing topics such as workload, case management and deadlines.

6

The Think Ahead Organisation For the year ended 31 March 2025

Continuing professional development with our consultant social workers

Placement learning on our flagship programme is led by consultant and associate consultant social workers. This year, we worked with 70 consultant social workers in our partner organisations, each one receiving free training from us on leadership themes, including antidiscriminatory practice, human rights and ethical practice, and self-compassion and resilience in social work practice.

We also trained 15 of them to become practice educators through our accredited, postgraduate Practice Educator Professional Standards Level 1 and 2 programme. Each of these practitioners is now qualified to support and assess not only Think Ahead’s trainees but social workers training with other higher education institutions, as well as newly qualified social workers in adult services completing their assessed and supported year in employment (ASYE), adding to the impact of our programme in the wider mental health workforce.

Wider support for the mental health workforce

We worked in partnership with a range of organisations to support the workforce and people living with mental health needs.

• Substance use training - We launched a new substance use training course for qualified social workers supporting people living with mental health and substance use issues. According to national statistics for substance misuse[1] , almost three-quarters (72%) of adults starting treatment are also experiencing mental health issues. Unfortunately, when someone’s mental health is suffering and they’re using harmful substances, they can be blocked from the services that should be there to support them. Social workers are often the best placed professionals to support people navigating complex challenges but – with limited training in the area – they can feel ill-equipped to address substance use issues.

This programme brought together 30 social workers from across England with varying levels of experience in mental health and substance use services. The training provided key interventions to support people to assess their motivation and willingness for change, and to find ways to reduce the harm caused by substance use. It has been hugely successful with participants who reported an eight-fold increase in confidence in their abilities after the course. 92% said they would recommend the training to others and 100% rated the overall quality of the training as high or very high. Looking forward we will offer mental health and substance use training to a wider audience.

• Individual Placement and Support – (IPS) – IPS is an evidence-based employment support approach that helps people with severe mental illness find meaningful work. Through our joint project with Social Finance, funded by NHS England, we provided specialist recruitment support to IPS services across the country. This included developing a recommended recruitment approach, creating central assets and designing a bespoke training series for all IPS providers. We also produced a promotional film to highlight the nature of IPS roles and the impact they can have. We ran a national digital campaign to reach a wider audience of potential applicants using this film. Looking

1 Accredited official statistics, adult substance misuse treatment statistics 2023 to 2024. Published Nov 2024

7

The Think Ahead Organisation For the year ended 31 March 2025

forward, we will continue our partnership with Social Finance to increase engagement with policymakers and providers, including co-producing the first national IPS conference in October 2025.

• Supporting the approved mental health professionals (AMHPs) network – AMHPs are qualified professionals responsible for the co-ordination and conduct of assessments for the compulsory admission of people to hospital under the Mental Health Act. They bring an independent and social perspective to assessing vulnerable people in crisis, upholding their human rights and considering alternatives to detention. 93% of AMHPs are qualified social workers. Funded by Partners in Care and Health, we worked across 20 local authorities and mental health trusts to design and deliver five regional events, reaching over 300 people, to facilitate the embedding of new AMHP National Service Standards. This supported the workforce directly, strengthened understanding between partner agencies, and, importantly, improved the experience of people receiving support.

Policy, advocacy and knowledge sharing

We continue to advocate for socially informed approaches in mental health services and a workforce equipped to address the impact of the social determinants of mental health, including poverty, poor or insecure housing, and relationships, on people’s lives. Drawing on evidence from our programme, partners, participants and our Lived Experience Partners, we continue our work to inform policy, champion the profession, and amplify the voices of trainees, alumni, and people with lived experience.

This year, we launched Social Work Matters: a campaign to highlight the vital but often overlooked role of social workers in mental health. We called for the NHS workforce plan to include a target of 24,000 more mental health social workers in the workforce by 2034. This would give everyone with severe mental illness access to a mental health social worker through the NHS.

We also responded to several key consultations and inquiries: the inquiry into Community Mental Health Services, and into the Cost of Inaction on Adult Social Care Reform (both run by the Health and Social Care Select Committee), and the NHS Change Consultation. In each, we made the case for placing social approaches at the heart of mental health care. We highlighted how mental health social workers connect services, expand clinical perspectives, and bring care closer to communities.

We have contributed our expert perspectives to a number of national working groups, including the Approved Mental Health Professional Network, Social Work England’s Practice Development Group, and the British Association of Social Workers' Mental Health Group.

We also participated in key sector roundtables with Ministers, MPs and civil servants, including:

• Mental Health Foundation roundtable at Labour Party Conference on local planning in the prevention of mental ill-health.

• Centre for Mental Health roundtable on mental health and substance misuse.

• British Association of Social Workers roundtable on the role of mental health social workers.

• A joint roundtable with the Cabinet Office and directors of other public sector fast-track programmes on how to improve partnership working across government and reduce contractual barriers.

8

The Think Ahead Organisation For the year ended 31 March 2025

This work strengthened our partnerships across the sector and helped shape shared priorities for the future of the mental health workforce.

Governance

Our founding Chair, Professor Dame Carol Black CBE, stepped down from the Board in December 2024 having completed her full term as a trustee at Think Ahead. We are indebted to her leadership and advocacy for the development of the mental health workforce. Dame Carol remains connected to our work as our first Patron.

After an extensive recruitment campaign and process, Peter Hay CBE was appointed as Chair of the Board in December 2024. Five new trustees were appointed during the year to strengthen our commercial and public policy-related skills and to replace retiring trustees, who had for the most part completed their full terms.

As the landscape around our mission has started to shift with the introduction of major changes in health and social care systems and structures following the election of the new government in July 2024, the Board has recognised and planned for changes in our funding and reviewed our strategic priorities against this backdrop. In the period 2024/25 and beyond, our priorities are to:

• Secure new sources of income through partnerships, grant funding, and commissioned work that align with our mission and expertise in mental health and social work.

• Expand our portfolio of training and workforce development programmes to reach new markets, including local authorities, NHS trusts, and voluntary sector organisations.

• Strengthen and broaden strategic collaborations that address critical gaps in the mental health workforce, promote integrated care, and improve the quality and capacity of mental health services through innovation, education, and professional development.

Equality, diversity and inclusion

We believe that diversity fundamentally strengthens teams, organisations, and the services they provide. At Think Ahead, we are committed to ensuring that equality, diversity and inclusion are embedded in everything we do, and we continue to seek new and meaningful ways to build an inclusive culture at every level of our charity.

• Building an inclusive culture: Our Equality, Diversity and Inclusion Action Group is employee-led and focuses on development and improvement in our internal systems and processes. This work ensures that our recruitment processes are free from bias, that we improve monitoring of staff diversity data, embed EDI training as part of our portfolio at all levels in the organisation, and take practical steps to inform our approaches to equality at all levels. In 2024, we continued our membership of the Employers Network for Equality and Inclusion to support our work around inclusion and allyship. Think Ahead is also a Disability Confident employer.

• Diversity and representation on our mental health social work programme: We are committed to improving representation within the mental health workforce to ensure that it is reflective of the diverse communities it supports. We actively encourage applications to our programme from people from underrepresented backgrounds in mental health social work, including people from Black, Asian and ethnically diverse communities, disabled people, those who identify as LGBTQ+, and men - who remain underrepresented within the sector.

9

The Think Ahead Organisation For the year ended 31 March 2025

In our 2024 cohort:

• 26% are from Black, Asian and ethnically diverse communities

• 23% are men

• 15% identify as part of the LGBTQ+ community

• 12% are disabled

These figures exceed sector averages, demonstrating the positive impact of our targeted recruitment practices and inclusive programme design.

We also recognise that barriers to postgraduate and professional education can limit access to regulated professions like social work. As part of our commitment to social mobility, we monitor key indicators in our recruitment process. In 2024, over a third (35%) of our trainees were eligible for free school meals during their school years– this is a notable increase from 17% when the programme began (for context, 25.7% of pupils in England are currently eligible). Additionally, 58% of our trainees were the first generation in their family to attend university, compared to 41% in 2017.

Our programme is fully funded for all trainees and we provide additional financial support through a hardship fund, recognising the financial pressures faced by students particularly people who are career changers or returning to education. In 2024/25, the hardship fund awarded non-repayable, discretionary grants of up to £3,000, supporting 27 trainees through periods of financial difficulty.

• Our Lived Experience Partnership: This is central to ensuring our mental health social work training, and broader work, are the best they can be for everyone. In 2024 our partners were directly involved with the recruitment and delivery of our mental health social work programme, helping to select applicants and facilitate workshops and practice assessments. We collaborated with our partners to share their powerful stories for Mental Health Awareness Week and engaged with them on policy consultations and calls for evidence. We continue to ensure the insights of our lived experience partners remain at the heart of our influencing work and everything we do.

Looking forward

Our mission is to recruit, train and promote a mental health workforce fit for the future to enable the best support for people living with mental health needs.

We continue to develop and deliver our five-year strategy launched in 2023, to ensure people living with mental health needs can live the life they want and deserve. Our work remains focused in four strategic areas:

• Increase public and policy engagement with the mental health sector

• Identify research and innovation for workforce solutions

• Plug the gap between demand and supply in the mental health workforce

• Create an entrepreneurial outlook to increase our impact

Since the election of the new Government in 2024, we have advocated for the importance of mental health social workers in achieving their planned three shifts for the NHS – from analogue to digital, treatment to prevention and from hospital to community.

10

The Think Ahead Organisation For the year ended 31 March 2025

We will continue to advocate for recognition of the value of mental health social workers, and the wider mental health workforce, and the crucial support they provide to people across the country.

Looking to 2025/26 and beyond, Think Ahead will:

• Champion the mental health workforce through research, policy and campaigns.

• Develop new partnerships to support the mental health workforce, including with NHS trusts, local authorities, community-based not-for-profit organisations and independent providers.

• Offer high quality training and development, through our mental health social work programme and new mental health and substance use training.

• Advocate across the sector for a social approach to mental health.

• Put lived experience at the heart of everything we do.

• Ensure that our commitment to equity, diversity and inclusion in the mental health workforce drives our decision-making.

With over 1.8 million people waiting for mental health support, a social and community response to mental health issues has never been more needed.

Think Ahead will keep working alongside the sector to champion the mental health workforce, to bring it excellent recruitment and training opportunities, and to place social approaches to mental health at the forefront of care.

Structure, governance and management

Constitution of the charity

The organisation is a charitable company limited by guarantee, incorporated on 19 February 2016 and registered as a charity on 18 April 2016.

The company was established under a memorandum of association, which established the objects and powers of the charitable company and is governed under its articles of association.

Charitable objectives

The charitable objectives of Think Ahead are:

• The advancement of education and training, in particular in the fields of mental health support, social work, social care and allied fields.

• The advancement of physical and mental health to improve standards of social care.

• To raise the awareness of mental health issues and promote research for the education of the public.

• The relief of those in need.

Our Board and governance

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note seven to the accounts.

11

The Think Ahead Organisation For the year ended 31 March 2025

The day-to-day decisions and management of the charity is delegated by the trustees to the CEO and senior staff detailed on page 3.

Appointment of trustees

The charity’s governing document does not specify a time limit for the term of office for trustees. It does however require one third of the trustees, being those who have been longest in office since their last appointment or reappointment, to retire from office at the annual meeting when the accounts are adopted.

On retirement from their first term of office, a trustee can immediately be reappointed for a second term. Following a second term a trustee generally must take a year’s break from office, although provisions are in place for a third consecutive term up to a maximum of three years at which point a trustee must retire from the Board, unless a Special Resolution of the members of the charity allows for a further year.

Trustee induction and training

The current trustees have a good knowledge and understanding of the charity, its flagship programme, its strategic objectives and their responsibilities as trustees. Induction processes for new trustees include background information on the charity, its strategy, aims and governance arrangements as well as opportunities to meet key staff members, trainees on the programme and members of the Lived Experience Partnership who work closely with staff to deliver the charity’s aims.

Related parties and relationships with other organisations

There were no transactions with related parties or relationships with other organisations

during the year.

Remuneration policy for key management personnel

The trustees consider that the senior leadership team as detailed on page 3 comprises the key management personnel of the charity. The trustees decide the reward strategy and annual remuneration for the CEO whilst the pay for the remainder of the senior leadership team is delegated to the CEO. The charity’s remuneration policy allocates a salary range to each position which is based on external benchmarking.

Principal risks and uncertainties

Trustees have overall responsibility for risk management and in line with their policy maintain a risk register. However, the trustees also recognise that, for the risks to be identified and managed successfully, there needs to be shared accountability throughout the organisation.

Risks are considered at a strategic, programme and operational level with the nature of the risk noted on the register along with an assessment of its likelihood and potential impact. The senior leadership team conducts a comprehensive audit of risks facing the charity on a quarterly basis and supports the Board to do the same. Dependent on the nature of the risk, its management will consist of either measures put in place to mitigate against the risk or, where an external risk is outside of the charity’s control, a response plan.

12

The Think Ahead Organisation For the year ended 31 March 2025

The main strategic risks to the charity are:

• Reliance on a single source of funding in the form of a contract from the Department of Health and Social Care (DHSC). In the period 2024/25, the senior leadership team introduced a new Business Development strategy and developed new income streams to reduce this risk, including the IPS Grow project (funded by NHS England). The current DHSC contract extension covers cohorts for 2024/25 and 2025/26. In April 2025, the Department announced that it would not reprocure the existing Think Ahead mental health social work programme. Plans to manage and mitigate the resulting financial risk to the organisation are in place.

• Changes in health and social care policy. At the point of writing, there is a lack of clarity regarding the extent to which the new Government will support mental health workforce and social work initiatives. We mitigate this risk through sustained and effective engagement with key stakeholders across the sector and the influencing spectrum, and delivering strong external relations and public profile-building activities.

The main programme risks to the charity are:

• Availability of Year Two job placement positions . Availability of NHS and Local Authority funding means that long term workforce planning is challenging for service providers. This has resulted in changes in our partnership profile in 2024 and 2025, which impacts on the number of participants that we are able to recruit into the mental health social work programme. In mitigation, we have sought new delivery partnerships, including with voluntary sector organisations.

• Lack of participant retention through Year Two of the programme. Risk of early drop-out could impact the reputation of the charity. In mitigation of this the charity has implemented (and continues to refine) robust selection procedures, carefully places trainees in suitable locations and uses a range of in-person and online mechanisms for supporting trainee progress and implementing early additional help if they are struggling.

• Reducing funding impacts the quality of delivery in the mental health social work programme. We are focussing resources in the frontline of our programme management and operational support in order to maintain the highest standards of quality and delivery.

The main operational risk to the charity is:

• Organisational capacity to deliver objectives . Internal and external pressures associated with meeting diversification objectives and targets, while also delivering the Department of Health and Social Care contract, may impact the organisation’s capacity to achieve all goals at the desired pace and scale. This is mitigated by ensuring any new work is sufficiently budgeted to include new resourcing, recruiting new staff as needed and having a robust set of key performance indicators and measures to give advance warning of any potential delivery issues.

Fundraising

The charity does not engage in public fundraising. The charity nevertheless observes and complies with the relevant fundraising regulations and codes. During the year there were no compliance issues arising from the regulations and codes, and the trustees received no complaints relating to its fundraising practice.

13

The Think Ahead Organisation For the year ended 31 March 2025

Financial performance

Income

Think Ahead had income of £8.8 million for the year (2024: £9 million) from the Department of Health and Social Care (DHSC) to operate the Think Ahead programme as detailed in note three to the accounts. A further £265k of income (2024: £234k) was received from other consultancy projects.

Expenditure

Overall expenditure for the year totalled £9.083 million. Expenditure relating to the delivery of the programme was £8.875 million during the year (2024: £8.9 million). Expenditure relating to secondary activities totalled £138k, business development £66k and policy work £3k.

The cost of recruiting trainees and delivering training to them accounted for 89.4% of total expenditure (2024: 89%). Indirect costs totalled 8.3% of expenditure (2024: 8%) and secondary activity costs totalled 2.3%.

The charity’s direct training programme itself cost £7.1 million (2024: £7.2 million) equating to 78% (2024: 77%) of charitable expenditure. These costs included payment to partners supplying academic tuition and workplace training facilities, as well as bursary payments to trainees on the programme. The intensive training approach in our programme requires robust trainee recruitment processes, and the direct cost of these recruiting activities totalled £1.1 million (2024 £1.1 million), 12% of the total expenditure.

Total reserves at the close of the 2023/24 accounting period stood at £1.024 million, comprising £380k designated fund, £425k Think Ahead Contingency Fund, £215k surplus, and £4k general reserve.

It was agreed with DHSC that of the £215k surplus from 2023/24, £110k would be invested in funding two additional participants on the programme (increasing numbers from 160 to 162). The remaining £105k was returned to DHSC during the year. Of the £110k set aside, £57k was spent during 2024/25, leaving £53k to be carried forward.

The Participant Resumption Fund was established during the year to allocate income received for future use when participants resume their studies following an interruption. Of the £47k set aside, £22k was spent during the year, leaving a balance of £25k.

At the end of the current reporting period, £162k of the designated fund had been spent, leaving £217k to be carried forward. The Think Ahead Contingency Fund remains at £425k, and the general reserve has increased to £87k. The surplus on the Think Ahead programme for 2024/25 was £106k which is shown as part of general funds in Note 15. In total, £912k will be carried forward at the end of 2024/25.

Reserves policy

In considering the reserves requirements, trustees consider the nature of the charity’s aims and its business model. At their meeting of 31 January 2024, trustees determined that, in order to cover any future costs not included in the existing contract, such as an orderly wind down if required, suitable unrestricted reserves should be held in a range. This range should

14

The Think Ahead Organisation For the year ended 31 March 2025

be between £280k and £480k. We hold a Think Ahead Contingency Fund of £425k, together with the 2024/25 surplus from the flagship programme and general reserves of £87k. The current available reserve fall within this overall range.

Going concern

The Trustees and Directors have considered the appropriateness of preparing the financial statements on a going concern basis. In making this assessment, they have reviewed the organisation’s financial position, reserves, cash flow forecasts, and projected income and expenditure for a period of at least twelve months from the date of approval of these financial statements.

Think Ahead has secured confirmed funding from the Department of Health and Social Care (DHSC) of £3.65 million for the financial year ending 31 March 2027, and £0.622 million for the financial year ending 31 March 2028. This provides the organisation with a clear basis for continuing its activities and meeting its obligations over the next twelve months and beyond.

In addition, the organisation holds reserves as set out above. These reserves provide a strong financial buffer to support operations and mitigate risks during the transition period.

The Trustees/Directors note that the DHSC-funded programme is being wound down over the period to 2027/28, with no new cohorts being funded. While this will result in a reduction in the scale of operations, the organisation is actively planning for transition to a smaller operating base. A programme of work is underway to diversify income streams and to ensure that the charity remains sustainable beyond the DHSC funding period.

Taking these factors into account, the Trustees/Directors are satisfied that the organisation has sufficient resources to continue in operational existence for the foreseeable future, and that there are no material uncertainties that cast significant doubt on its ability to continue as a going concern in the next 12 months. Accordingly, the financial statements have been prepared on a going concern basis.

Statement of trustee’s responsibilities

The trustees (who are also directors of The Think Ahead Organisation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently.

• Observe the methods and principles in the Charities Statement of Recommended Practice.

• Make judgements and estimates that are reasonable and prudent.

• State whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.

15

The Think Ahead Organisation For the year ended 31 March 2025

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• There is no relevant audit information of which the charitable company’s auditor is unaware.

• The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

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 UK 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 total number of such guarantees at 31 March 2025 was nine (2024: twelve). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. The Trustees’ Annual Report has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

The Trustees’ Annual Report has been approved by the trustees on 2 December 2025 and signed on their behalf by:

Peter Hay CBE

Chair

16

The Think Ahead Organisation For the year ended 31 March 2025

Independent auditor’s report to the members of The Think Ahead Organisation

Opinion

We have audited the financial statements of The Think Ahead Organisation (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

• Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended

• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

• Have been prepared in accordance with the requirements of the Companies Act 2006

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 charitable company 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 Think Ahead Organisation'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 trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly

17

The Think Ahead Organisation For the year ended 31 March 2025

stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

• The information given in the trustees’ annual report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The trustees’ annual report has been prepared in accordance with applicable legal requirements.

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 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:

• Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

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

• Certain disclosures of trustees’ remuneration specified by law are not made; or

• We have not received all the information and explanations we require for our audit; or

• The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual 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 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.

18

The Think Ahead Organisation For the year ended 31 March 2025

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We enquired of management which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:

• Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;

• Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;

• The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.

• We inspected the minutes of meetings of those charged with governance.

• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

• We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

• We reviewed any reports made to regulators.

• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

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. 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.

19

The Think Ahead Organisation For the year ended 31 March 2025

A further description of our responsibilities is available 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.

Joanna Pitman (Senior statutory auditor) 5 December 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

20

The Think Ahead Organisation

Statement of Financial Activities (incorporating an income and expenditure account) For the period ended 31 March 2025

Note Income from: Charitable activities Think Ahead Programme 3 Other Charitable activities Return of unspent DHSC income (prior year) Donations and other income Investment income Total incoming resources Expenditure on: Raising funds Business development Policy & research Charitable activities Think Ahead Programme Other Charitable activities Total expenditure 4a Net income / (expenditure) and net movement in funds for the year 6 Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted Funds £ 8,786,274 264,757 (105,291) 820 24,760	2025 Year to 31 March 2025 £ 8,786,274 264,757 (105,291) 820 24,760 8,971,320 66,475 3,001 8,875,436 138,069 9,082,981 (111,661) 1,024,027 912,367	2024 Year to 31 March 2024 £ 9,008,666 234,311 - 432 6,435
	8,971,320		9,249,844
	66,475 3,001 8,875,436 138,069		110,946 30,085 8,947,602 181,969
	9,082,981		9,270,602
	(111,661) 1,024,027
			(20,758) 1,044,785
	912,367		1,024,027

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 13 to the Financial Statements.

21

THINK AHEAD ORGANISATION Company number: 10015893 Balance Sheet As at 31 March 2025

Note Fixed assets: 11 Current assets: Debtors and prepayments 12 Cash at bank and in hand Current Liabilities: Creditors: amounts falling due within one year 13 Net Current Assets Total Fixed and Net Current Assets Liabilities: Creditors: amounts falling due after more than one year 14 Net Assets The funds of the charity: Unrestricted funds Designated Funds	£ £ - 2,421,217 1,185,587 3,606,804 2,694,437 2,694,437 912,367 912,367 - 912,367 192,890 719,477 912,367 31 March 2025	£ £ 8,209 1,225,134 4,075,809 5,300,943 4,035,678 4,035,678 1,265,265 1,273,474 249,447 1,024,027 219,519 804,508 1,024,027 31 March 2024	£ £ 8,209 1,225,134 4,075,809 5,300,943 4,035,678 4,035,678 1,265,265 1,273,474 249,447 1,024,027 219,519 804,508 1,024,027 31 March 2024
			1,273,474 249,447 1,024,027 219,519 804,508
			1,024,027

APPROVED by the Trustees on 2 December 2025 and signed on their behalf by:

Peter Hay CBE Chair

22

The Think Ahead Organisation Statement of cash flows

For the year ending 31 March 2025 Note Cash flows from operating activities Net cash provided by / (used in) operating activities 16 Cash flows from investing activities: Dividends, interest and rents from investments Proceeds from the sale of fixed assets Purchase of fixed assets Proceeds from sale of investments Purchase of investments Net cash provided by investing activities Change in cash and cash equivalents in the period Cash and cash equivalents at the end of the period Cash and cash equivalents at the beginning of the period	24,760 - - -	Year to 31 March 2025 (2,914,983) 24,760 (2,890,223) 4,075,809 1,185,587	6,435 - - - -	Year to 31 March 2024 (429,022) 6,435
				(422,587) 4,498,396
				4,075,809

23

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

1 Accounting policies 1.1 Statutory information The Think Ahead Organisation is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address is Unit 318, The Record Hall, 16-16a Baldwins Gardens, London, EC1 N 7RJ. 1.2 Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. Key judgements that the charitable company has made which have a significant effect on the accounts include the treatment of bursary payments as described more fully in Note 1.9 below. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. 1.3 Public benefit entity The charitable company meets the definition of a public benefit entity under FRS 102. 1.4 Going concern The Trustees consider there are no material uncertainties about the charitable company's ability to continue as a going concern. In reaching this conclusion they have in particular considered the financial stability secured by a contract with the Department of Health and Social Care ("DHSC") for ongoing delivery of the 2022 and 2023 Cohorts, as well as a contract extension to cover two further Cohorts of Participants (the 2024 and 2025 Cohorts) thereby providing core income extending into financial year ending 31 March 2028. In addition, a new business development team has been established with the intention that significant new sources of funding can be secured, thereby giving the charitable company a more diverse and sustainable funding base. 1.5 Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from 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. With regard to income arising under the primary Contract for the Provision of Services entered into with DHSC, as referred to in Note 1.4 above, some elements of total income are specifically identified as being related to certain categories of expenditure. Only those income elements which relate to expenditure which is committed to and binding upon the charity as at 31 March 2025 has been recognised during the year. Such income elements as have been received from DHSC prior to 31 March 2025, but which relate to expenditure not at that date binding upon the charity, have been deferred. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. Under the terms of the DHSC ontract, the organisation is entitled to reimbursement of bursary costs once the bursary obligations have been incurred. Although the bursary payments had not yet been disbursed to beneficiaries at the reporting date, the organisation had, by that date, incurred an obligation to make those payments in accordance with the contractual terms. As the organisation has thereby earned the right to receive the related funding from DHSC for the bursaries committed, the corresponding income has been accrued in the financial statements. This approach reflects the stage of completion of the contracted service and provides a faithful representation of the organisation’s financial position by matching income with the associated expenditure and liability. 1.6 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. 1.7 Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. The primary activity of the charity is the implementation of the Think Ahead Programme, a graduate training scheme for mental health social workers. During the previous year the Programme remained partly funded by grant income from DHSC. The grant funding related to expenditure for the 2020 and earlier Cohorts and all income and expenditure relating to those elements of the Programme was dealt with as Restricted activity. As per Note 1.4 above the Programme is now fully governed by a procurement contract (as amended). Those elements of the Programme are reported as Unrestricted activity. As explained in the above section on restricted funds unrestricted funds includes those elements of the Think Ahead Programme which are governed by a procurement contract with DHSC. Therefore income and expenditure relating to the delivery of all active Cohorts are dealt with as unrestricted activity. Also included are donations and other incoming resources received or generated for the charitable purposes. Designated Funds are unrestricted funds earmarked by the trustees for particular purposes. During the year a series of Designated Funds were established, as recorded in Note 14a and the subNotes thereto. 1.8 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. Expenditure is classified under the following activity headings:

 Recruitment function - expenditure relating to the identification of potential candidates to become Participants on the Programme; assessment of those candidates and selection as confirmed Participants.

 Programme function: expenditure relating to the delivery of the Programme, to include: liaising with the Academic Partner (Middlesex University) regarding delivery of the academic content of the Programme; identifying potential candidate Host Organisations; negotiating Delivery Agreements whereby confirmed Host Organisations undertake the delivery of the placement learning content of the Programme; providing support to Participants through the team of Practice Specialists; providing financial and logistic support to Participants, primarily by means of bursary payments; providing logistic and administrative support for the Programme generally. Expenditure is recognised when services are received (with the exception of bursaries, covered in Note 1.9 below). For the Host Organisations providing placements for units of typically four Participants, the fees payable to them under the governing Delivery Agreements are paid in three instalments. Expenditure relating to the first and second instalments is recognised in the reporting period in which the services are provided. In previous years, the charity accrued for expenditure relating to the third instalment, which is payable in July following the reporting date. Although the services provided by the Host in consideration of third instalment are delivered in the subsequent reporting period, the charity recognised an accrual on the basis that a constructive obligation existed under the Delivery Agreements. However, following changes to the host agreements, these costs no longer meet the definition of a liability at the reporting date, as the charity no longer has a present obligation. As a result, the policy of accruing these costs at the balance sheet date has been discontinued. This change is due to the contractual changes rather than an error. The change has been applied prospectively from 1 April 2024. The effect of the change is a reduction in accruals of £521,000 and a corresponding reduction in expenditure for the year ended 31 March 2025. There is no impact on prior-year balances.

24

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

1 Accounting policies (continued)

1.8 Expenditure and irrecoverable VAT (continued)

• External Relations, and Evaluation functions - expenditure relating to promoting awareness of the existence and content of the Programme, so as to facilitate the recruitment of potential Participants and Host Organisations: to include written publications, production of visual media, use of website and other social media. Additionally, evaluation of the impact of the Programme, using both internal resources and external consultants.

• Business development function - expenditure relating to the identification of potential new funded activities, and the delivery thereof as and when secured. This includes a policy and research arm, seeking to inform the charity as to current issues and trends in the mental health landscape so as better to position the charity to optimise delivery of its existing activities and to identify suitable new activities, all in line with the overall chartiable objectives.

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

1.9 Grants payable

Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.

Grants are made under the Think Ahead Programme in the form of bursary payments to the Participants. These bursary payments are governed by a Participant Training Agreement entered into between the charity and each Participant. The total amount of the bursary payment covers a period of thirteen months from July of one calendar year (when the Participant begins the Programme) up to July of the following calendar year (when the Participant achieves a Postgraduate Diploma in Social Work). As at the accounting year end of the charity, therefore, four further instalments of the bursary have yet to be paid. Since the charity has a commitment to pay these further instalments, an accrual for the remaining instalments has been recognised in the accounts.

1.10 Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity.

Direct staff and support costs are salary and overhead costs of the operational department responsible for that activity.

Senior management remuneration costs are apportioned between operational and support activities dependent on time spent. This results in the following allocation:

	Direct (operational)	Indirect (support)
CEO	75%	25%
Programme and Recruitment Director	100%	-
External Relations Director	100%	-
Finance and Operations Director	-	100%

These apportionments are effected in the "Apportion Staff Costs" line of Note 4. Two further apportionments are made there, those being (1) to apportion those staff costs for the Policy and Research function to the Raising Funds section and (2) to apportion the remaining staff costs for the External Relations department in line with the next paragraph.

External relations costs are considered to be direct operational costs in support of the primary operational functions of recruitment and programme. They are respectively apportioned at 70% to recruitment and 30% to programme, on the basis of time spent. This apportionment is applied to support costs in the lower section of Note 5.

Indirect staff and support costs are the costs of overall direction and administration of each activity, comprising the salary and overhead costs of the central and governance functions. These have been respectively apportioned at 20% to recruitment and 80% to programme on the basis of time spent. This apportionment is applied in the lower section of Note 4.

1.11 Operating leases

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

1.12 Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,750. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

The only assets capitalised relate to tenant's improvements to the office premises at the Record Hall, Baldwins Gardens, London EC1N 7RJ, being building works, audio visual equipment, and door security systems. The value of those works / assets will be amortised over the 3 year duration of the Lease of the Record Hall which commenced as of 27 September 2021.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

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:

Leasehold property - tenant's improvements

3 years

1.13 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.

1.14 Short term deposits

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months. At the reporting period end the charity did not hold any short term deposits.

25

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

1 Accounting policies (continued)

1.15 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.

1.16 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.

1.17 Pensions

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charity to the fund. The charity has no liability under the scheme other than for the payment of those contributions.

2 Detailed comparatives for the statement of financial activities

2 Detailed comparatives for the statement of financial activities
Income from: Charitable activities Think Ahead Programme Other Charitable Activity Income Investment income Other income Total incoming resources Expenditure on: Raising funds Business development Policy & research Charitable activities Think Ahead Programme Other Charitable Activity Expenditure Total expenditure Net income / (expenditure) and net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward 3 Income from Charitable Activities Think Ahead Programme: Return of unspent DHSC income (prior year) Other Charitable Activity Income Contract payments received from DHSC	Unrestricted Funds £ 9,008,666 234,311 6,435 432 9,249,844 110,946 30,085 8,947,603 181,969 9,270,602 (20,758) 1,044,785 1,024,027 Unrestricted 2025 Funds £ 8,786,274 - (105,291) (105,291)	Unrestricted Funds £ 9,008,666 234,311 6,435 432	Year to 31 March 2024 £ 9,008,666 234,311 6,435 432
		9,249,844	9,249,844
		110,946 30,085 8,947,603 181,969	110,946 30,085 8,947,603 181,969
		9,270,602	9,270,602
		(20,758) 1,044,785	(20,758) 1,044,785
		1,024,027	1,024,027
			2024 £ 9,008,666 -
	8,680,983 8,680,983 264,757 264,757		9,008,666 234,311
	8,945,740 8,945,740		9,242,977

During year ending 31 March 2021, activity commenced for the recruitment of the 2021 Cohort and the activity relating to the 2021 cohort is concluded by year ending 31 March 2024. Continuing activity relating to the 2022 and 2023 Cohorts is funded by a procurement contract with DHSC. During year ending 31 March 2024, activity has commenced for the recruitment of the 2024 Cohort, and continuing actvity relating both to this and the 2025 Cohort is funded by a Variation Agreement with DHSC. Income derived from both contracts is Unrestricted in nature.

26

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

4a Analysis of expenditure

Charitable activities

Staff costs (Note 7) Apportion Staff Costs (Note 1.10) Apportioned staff costs Think Ahead Programme: Bursaries (see note below) Other Participant support Alumni Placement learning Academic tuition Monitoring, evaluation and research Attraction of Participants Selection of Participants Preparation for Programme Innovation Fund Initiatives Other Programmes: Other Charitable Activities Total support costs (Note 5a) Apportion Governance costs Apportion Support costs Total expenditure Analysed as: Business development Policy & research Think Ahead Programme Other Charitable activities Total expenditure	£ 334,067 298,333 Recruitment	External Relations, Raising Funds Policy and Evaluation £ £ £ 910,554 352,023 53,239 145,308 (352,023) - Programmes	External Relations, Raising Funds Policy and Evaluation £ £ £ 910,554 352,023 53,239 145,308 (352,023) - Programmes	Governance Support costs costs £ £ - 479,944 - (91,617)	TOTAL 2025 £ 2,129,828 - 2,129,828 2,990,253 50,565 7,055 703,118 2,076,870 21,266 6,049 163,115 93,182 31,704 138,069 671,910 9,082,981 - 9,082,981 66,475 3,001 8,875,436 138,069 9,082,981	TOTAL 2024 £ 2,178,084 -
	632,400 - - - - - - 6,049 163,115 93,182 - - 160,232	1,055,862 2,990,253 50,565 7,055 703,118 2,076,870 18,265 31,704 138,069 129,153	- 53,239 - - - - - - - - - - - 3,001 - - - - - - - - - - - 1,698	- 388,327 - - - - - - - - - - - - - - - - - - - - - - 47,123 333,704		2,178,084 2,695,503 84,331 5,704 1,173,088 2,041,959 34,212 3,575 168,142 82,626 630 108,591 694,156
	1,054,976 8,718 133,576	7,200,912 37,698 577,625	- 57,939 - 707 - 10,830	47,123 722,031 (47,123) - - (722,031)		9,270,602 -
	1,197,270	7,816,235	- 69,476	- -		9,270,602
	- - 1,197,270 - 1,197,270	- - 7,678,166 138,069	- 66,475 - 3,001 - - - -	- - - - - - - -
		7,816,235	- 69,476	- -

Grants are made under the Think Ahead Programme in the form of bursary payments to the individual Participants. For a detailed description of the bursaries, including as to timing and accounting treatment, see Note 1.9.

27

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

4b Analysis of expenditure (Prior year)

Charitable activities

Staff costs (Note 7) Apportion Staff Costs (Note 1.10) Apportioned staff costs Bursaries (see note below) Other Participant support Alumni Placement learning Academic tuition Monitoring and evaluation Attraction of Participants Selection of Participants Preparation for Programme Innovation Fund Initiatives Other Programmes: Other Charitable Activities Total support costs (Note 5b) Apportion Governance costs Apportion Support costs Total expenditure 5a Support Costs Office costs Website, publications and events Audit and accountancy Committee expenses Travel Finance, insurance, legal & professional Apportion External Relations and Impact costs Total Support Costs (to Note 4a)	Recruitment £ 355,807 252,088 607,895 - - - - - - 3,575 171,546 82,626 - - 189,947 1,055,589 8,359 127,893 1,191,841 Recruitment £ 49,051 - - - - - 111,181	Programmes External Relations, Raising Funds Policy and Evaluation £ £ £ 894,324 296,020 182,610 123,122 (296,020) 11,732 1,017,446 - 194,342 2,695,503 - - 84,331 - - 5,704 - - 1,173,088 - - 2,041,959 - - 27,969 - 6,243 - - - - - (3,404) - - - 630 - - 181,969 - (73,378) 119,930 - 6,180 7,348,529 - 129,983 36,149 - 678 553,052 - 10,370 7,937,730 - 141,031 Programmes External Relations, Raising Funds Policy and Evaluation £ £ £ 56,663 85,736 466 - 35,735 - - - - - - - 24,842 595 1,233 - 36,765 - 47,649 (158,830) -	Programmes External Relations, Raising Funds Policy and Evaluation £ £ £ 894,324 296,020 182,610 123,122 (296,020) 11,732 1,017,446 - 194,342 2,695,503 - - 84,331 - - 5,704 - - 1,173,088 - - 2,041,959 - - 27,969 - 6,243 - - - - - (3,404) - - - 630 - - 181,969 - (73,378) 119,930 - 6,180 7,348,529 - 129,983 36,149 - 678 553,052 - 10,370 7,937,730 - 141,031 Programmes External Relations, Raising Funds Policy and Evaluation £ £ £ 56,663 85,736 466 - 35,735 - - - - - - - 24,842 595 1,233 - 36,765 - 47,649 (158,830) -	Governance Support costs costs £ £ - 449,323 - (90,922)	TOTAL 2024 £ 2,178,084 - 2,178,084 2,695,503 84,331 5,704 1,173,088 2,041,959 34,212 3,575 168,142 82,626 630 108,591 694,156 9,270,602 - 9,270,602 Total 2025 £ 506,202 35,735 17,040 7,400 28,645 76,888 - 671,910	Total 2024 £ 560,438 30,988 16,200 5,651 34,143 46,737 -
		1,017,446 2,695,503 84,331 5,704 1,173,088 2,041,959 27,969 - - - 630 181,969 119,930	- 194,342 - - - - - - - - - - - 6,243 - - - (3,404) - - - - - (73,378) - 6,180	- 358,401 - - - - - - - - - - - - - - - - - - - - - - 45,186 332,914
		7,348,529 36,149 553,052	- 129,983 - 678 - 10,370	45,186 691,315 (45,186) - - (691,315)
		7,937,730	- 141,031	- -
				Governance Support costs costs £ £ 566 313,722 - - 17,040 - 7,400 - - 1,975 22,117 18,006 - -
	160,232	129,153 - 1,698		47,123 333,704		694,157

28

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

5b Support Costs (Prior year)

Office costs Website, publications and events Audit and accountancy Committee expenses Travel Finance, insurance and legal Apportion External Relations and Impact costs Total Support Costs (to Note 4b) 6 Net Income / (Expenditure) for the year This is stated after charging: Auditors' remuneration excl VAT: Operating leases:	Recruitment £ 116,277 - - - 152 - 73,518 189,947 Statutory audit Other services Property Other	Programmes External Relations, Raising Funds Governance Support Policy and Evaluation costs costs £ £ £ £ £ 62,216 72,071 2,330 18 307,525 - 30,988 - - - - - - 16,200 - - - - 5,651 - 25,518 831 445 937 6,260 688 1,135 3,405 22,380 19,129 31,507 (105,025) - - - 119,930 - 6,180 45,186 332,914	Programmes External Relations, Raising Funds Governance Support Policy and Evaluation costs costs £ £ £ £ £ 62,216 72,071 2,330 18 307,525 - 30,988 - - - - - - 16,200 - - - - 5,651 - 25,518 831 445 937 6,260 688 1,135 3,405 22,380 19,129 31,507 (105,025) - - - 119,930 - 6,180 45,186 332,914	Total 2024 £ 560,438 30,988 16,200 5,651 34,143 46,737 - 694,157 2025 2024 £ £ 14,200 13,500 - - 162,574 145,085 8,799 8,771
		119,930	- 6,180 45,186 332,914

• 7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows: Salaries Social Security costs Employer's contribution to defined contribution pension scheme Redundancy payment Recruitment and other costs	2025 £ 1,755,355 175,368 132,595 - 66,510 2,129,828	2024 £ 1,773,421 179,697 130,658 15,139 79,169
		2,178,084

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

	2025			2024
£60,000 - £69,999		3			2
£70,000 - £79,999		2			1
£80,000 - £89,999			-		1
£90,000 - £99,999			-		1
£100,000 - £120,000		1			-
£120,000 - £129,999			-		1

Key management personnel:

The total employee benefits (including pension contributions and employers national insurance) of the key management personnel were £381,005 (2024: £529.453).

The charity trustees were neither paid nor received any other benefits from engagement with the charity in the period. No charity trustee received payment for professional or other services supplied to the charity.

Trustees' expenses represent the payment or reimbursement of travel, accommodation and subsistence costs totalling £2,646 (2024 - £2,630) incurred by or on behalf of four (2024 - four) members. These costs were connected with trustee meetings or other external events or activities of the charity.

29

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the period was:

Average headcount:

Average headcount: Full time employees Part time and temporary employees Staff are split across the various functions of the charity as follows (headcount basis): Business Development Central Programme team External Relations and Evaluation Finance and Executive Policy & research Practice Specialist team Recruitment	2025 Headcount FTE 32.3 31.8 7.6 6.3	2024 Headcount 30.6 8.1 38.7 2024 Headcount 2.0 9.0 5.7 6.5 1.0 7.0 7.5 38.7	FTE 30.0 6.9
	39.9 38.1		36.9
	2025 Headcount FTE 1.0 1.0 9.4 8.9 6.2 5.9 7.2 6.9 0.6 0.6 8.1 7.6 7.4 7.2		FTE 2.0 8.7 5.2 6.3 1.0 6.8 6.9
	39.9 38.1		36.9

9 Related party transactions

No transactions with RPs and no donations from RPs.

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 the start of the year Additions in year Disposals in year At the end of the year Depreciation At the start of the year Charge for the year Eliminated on disposal At the end of the year Net book value At the end of the year At the start of the year	Fixtures and fittings £ 45,276 - - 45,276 37,067 8,209 - 45,276 - 8,209	Total £ 45,276 - -
		45,276
		37,067 8,209 -
		45,276
		-
		8,209

All of the above assets are used for charitable purposes.

30

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

12 Debtors

Debtors Trade debtors Other debtors Prepayments Accrued income	2025 £ 7,920 53,639 147,920 2,211,737 2,421,217	2024 £ 573,456 46,933 78,181 526,564
		1,225,134

Under the Variation Agreement with DHSC which governs the delivery of the 2024 and 2025 Cohorts, invoicing is rendered to DHSC in arrears. Hence the income relating to the delivery of the 2024 and 2025 Cohorts during the period January to March 2025 was invoiced in April 2025. This accounts for the largest componennt (£1,290,240) of the accrued income. As per Note 1.5 the charity also accrued income for bursary expenditure which amounts to £939,940. A negative component of £24,845 is also included, reflecting an income adjustment in favour of DHSC under the Original Contract which relates to participant withdrawals during the period January to March 2025.

13 Creditors: amounts falling due within one year Trade Creditors Taxation and Social Security VAT Pensions Accruals Amortised rent free period Provision for dilapidations Other Creditors Deferred income	2025 £ 289,079 42,200 1,213 15,995 2,078,384 - 15,000 204 252,363 2,694,437	2024 £ 1,023,905 62,632 36,654 20,917 2,398,028 3,173 8,333 324 481,711
		4,035,678

"Deferred income" in both 2024 and 2025 relates to certain elements of income received from DHSC pursuant to the Original Contract for the Provision of Services but in respect of which the related expenditure was yet to be incurred as a binding commitment of the charity. The amount deferred under this Note 13 will be allocated to expenditure expected to be incurred during financial year ending 31 March 2026.

14 Creditors: amounts falling due after more than one year Amortised rent free period Provision for dilapidations Deferred income	2025 £ - - - -	2024 £ - - 249,447
		249,447

"Deferred income" in 2024 relates to certain elements of income received from DHSC pursuant to the Original Contract for the Provision of Services but in respect of which the related expenditure was yet to be incurred as a binding commitment of the charity. The amount deferred under this Note 14 will be allocated to expenditure expected to be incurred during financial year ending 31 March 2026. No deferred income is falling due after more than one year as at year ending 31 March 2025.

31

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

15a Movements in funds (current year) General funds General Funds Business Development Think Ahead Programme Total of General Funds Designated Funds DHSC Re-investment Fund: Alumni Development Website Development Evaluation Involvement Lead Improving Applicant Experience Online Portal Development Video Application System Salesforce Development Innovation Fund Think Ahead Contingency Fund DHSC Participant Resumption Fund DHSC Cohort Expansion Fund Total Unrestricted funds Total funds	At 31 March 2024 £ 3,963 - 215,557 219,520 56,000 17,178 20,072 50,188 30,720 25,041 40,419 18,520 121,370 425,000 - - 1,024,028 1,024,028	Income Staff Costs Operations TOTAL £ £ £ £ £ 25,580 - - - - 264,757 (53,239) (16,237) (138,069) (207,545) 8,634,231 (2,052,340) (655,544) (5,925,769) (8,633,653) Expenditure Support Costs	Transfers - - (110,000) (110,000) (26,000) 19,914 38,200 (5,023) (16,121) (15,041) (20,419) 62,480 (37,990) - - 110,000 - -	At 31 March 2025 £ 29,543 57,212 106,135
		8,924,568 (2,105,579) (671,781) (6,063,838) (8,841,198) - - - (13,200) (13,200) - - - (23,600) (23,600) - - - (30,000) (30,000) - (24,249) (129) (24,378) - - - (18,210) (18,210) - - - - - - - - (13,421) (13,421) - - - (7,776) (7,776) - - - (31,704) (31,704) - - - - - 46,752 - - (22,176) (22,176) - - - (57,320) (57,320)		192,890 16,800 13,492 28,272 20,787 (3,610) 10,000 6,579 73,224 51,677 425,000 24,577 52,680
		8,971,320 (2,129,828) (671,910) (6,281,243) (9,082,981)		912,367
		8,971,320 (2,129,828) (671,910) (6,281,243) (9,082,981)		912,367

The amount brought forward from the previous financial year of £1,024,028 was primarily derived from surpluses of income over expenditure relating to ongoing delivery of the 2021, 2022 and 2023 Cohorts under the flagship Think Ahead Programme. Discussion ensued between Think Ahead and DHSC over the disposition of such surpluses. Whilst it was acknowledged by DHSC that the contractual nature of the delivery agreement dictated that such surpluses belonged to Think Ahead, it was at the same time mutually recognised that the COVID crisis had fundamentally altered the conditions under which delivery of the Programme was undertaken, with the result that the surpluses were of a higher order than the parties would reasonably have expected. Hence the parties sought to agree a mutually acceptable plan to use the greater part of such surpluses to establish two Designated Funds.

The amount of £425,000 was to be set aside to form a Think Ahead Contingency Fund . This would be retained by Think Ahead as a safeguard against unforeseen future costs, or to facilitate an orderly winding down the Charity in the event that its ongoing viability could no longer be sustained.

A total amount of £534,000 was to be set aside as a resource to fund a series of future activities to be undertaken by Think Ahead, collectively to be known as the DHSC Re-Investment Fund .

The amounts forming the sub-Funds Alumni Development and Evaluation are intended to fund the continuation of those activities which support the flagship Programme but which are not directly funded for the 2024 and 2025 Cohorts by the governing Variation Agreement.

The amount forming the sub-Fund Website Development is intended to fund future improvement and enhancement of the Think Ahead website.

The amount forming the sub-Fund Involvement Lead is intended to fund the establishment of a new staff position dedicated to enhancing and expanding the contribution made to delivery of the flagship Programme by the members of the Lived Experience Partnership.

The four linked sub-Funds for Improving Applicant experience , Online Portal Development , Video Application System , and Salesforce Development are intended to fund the introduction and maintenance of new systems and processes which are designed to streamline and enhance the experiences of candidates and participants as they apply to join, and, if successful, progress through the Programme.

Finally the Innovation sub-Fund is intended as a resource for Think Ahead to use to identify new projects which complement, expand or enhance the existing scope of the flagship Programme. The current focus of deployment is the provision of Substance Misuse Training to external qualified social workers, and all reported expenditure relates to this.

The agreement between Think Ahead and DHSC to establish these Funds was recorded as part of Schedule 6 to the Variation Agreement extedning funding to the 2024 and 2025 Cohorts. It was in turn confrimed by the Board of Trustees at their Meeting on 19 July 2023.

The subsequent change note for the DHSC Re-Investment Fund was signed to provide flexibility in the application of expenditure in order to support innovation in Programme delivery over the five-year period. The total value of the fund remains unchanged, with the revised phasing of spend detailed in Note 15a.

A surplus of £215,556 arose in relation to the delivery of the Think Ahead Programme for the year ended 31 March 2024, as disclosed in Note 15b. This has led to discussions with DHSC applying the Gainshare provisions of the governing Contract. These discussions have in turn led to the parties' agreeing to enter into a Change Authorisation Note as of 6 June 2024 whereby £110,000 from the surplus of £215,556 will be retained by Think Ahead and used to support the recruitment of an additional two Participants to form part of the 2024 Cohort (the DHSC Cohort Expansion Fund ). The remainder of £105,291 (insofar as it relates to delivery of the 2021, 2022 and 2023 Cohorts) has been returned to DHSC via a deduction from the invoice raised on 7 January 2025, as detailed in Note 3.

32

The Think Ahead Organisation

Notes to the financial statements

For the year ending 31 March 2025

15b Movements in funds (prior year) Restricted funds Total Restricted funds General funds General Funds Business Development Think Ahead Programme Total of General Funds Designated Funds DHSC Reinvestment Fund: Alumni Development Website Development Evaluation Involvement Lead Improving Applicant Experience Online Portal Development Video Application System Salesforce Development Innovation Fund Think Ahead Contingency Fund Total Unrestricted funds Total funds	At 31 March 2023 £ - - 1,044,785 1,044,785 - - - - - - - - - - 1,044,785 1,044,785	Income Staff Costs Operations TOTAL £ £ £ £ £ - - - - - Support Costs Expenditure	Transfers - - (959,000) - - (959,000) 56,000 40,000 21,800 62,000 108,000 36,000 56,000 32,200 122,000 425,000 - -	At 31 March 2024 £ -
		- - - - -		-
		6,867 (23,841) (6,244) (30,085) 234,311 (167,097) (17,227) (108,591) (292,915) 9,008,666 (1,975,334) (668,958) (6,148,819) (8,793,110)		62,567 (58,604) 215,556
		8,290,844 (2,166,272) (692,429) (6,257,410) (9,116,110) 56,000 - - - - 40,000 - - (22,822) (22,822) 21,800 - (1,728) - (1,728) 62,000 (11,812) - - (11,812) 108,000 - - (77,280) (77,280) 36,000 - - (10,959) (10,959) 56,000 - - (15,581) (15,581) 32,200 - - (13,680) (13,680) 122,000 - - (630) (630) 425,000 - - - -		219,519 56,000 17,178 20,072 50,188 30,720 25,041 40,419 18,520 121,370 425,000
		9,249,844 (2,178,084) (694,156) (6,398,362) (9,270,602)		1,024,027
		9,249,844 (2,178,084) (694,156) (6,398,362) (9,270,602)		1,024,027

• 16 Reconciliation of net income to net cash flow from operating activities

Reconciliation of net income to net cash flow from operating activities
Depreciation of fixed assets (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities Net income for the reporting period (as per SOFA) Dividends, interest and rents from investments	2025 £ (111,661) (24,760) 8,209 (1,196,083) (1,590,688) (2,914,983)	2024 £ (20,758) (6,435) 16,418 (1,112,917) 694,669
		(429,022)

• 17 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year One to five years	Property Equipment 2025 2025 £ £ 181,516 9,081 15,592 1,639	Property 2024 £ 72,782 - 72,782	Equipment 2024 £ 3,989 -
	197,108 10,719		3,989

The charity renewed its office lease in July 2024, which was originally due to expire in September 2027. Post year-end, management exercised a break clause in the lease agreement, resulting in the lease terminating early on 30 April 2026. The total lease commitments reflect the post year end decision to terminate early.

No material penalties were incurred in connection with the early termination.

18 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

33