Charity number: 1167240 Company Registration number: 10114061 (England & Wales)
Trustees’ Report and Unaudited Accounts For the Year Ended 30 April 2025
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| Contents Universify Education reference and administrative details Trustees’report Independent examiner’s report Income and expenditure account Balance sheet Notes forming part of the Financial Statements |
Page |
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| 3 4 13 14 15 17 |
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Universify Education reference and administrative details
Trustees during the year ended 30 April 2025 and up to the date of this report
Ms Mary Nicholson (Chair)
Mr Harry Hortyn
Dr Steve Rayner
Mr Matt Lacey
Mr James Gregory
Miss Helen Norman (resigned 6[th] June 2025)
Mr Marco Logiudice
Mr Steven Smith
Ms Amy Ellis-Thompson (retired by rotation 6[th] June 2025)
Miss Margot Sprague-Davies
Company Number : 10114061 (England and Wales)
Charity Registration Number : 1167240
Registration Office : 18 Beaumont Street, Oxford OX1 2NA
Bankers : Lloyds, 25 Gresham Street, London EC2V 7HN; HSBC, 65 Cornmarket Street, Oxford OX1 3HY
Independent Examiner : Thomas Bradley ACMA
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Trustees ’ report incorporating the trustees’ report
1. Introduction
This report was prepared on behalf of the trustees in accordance with FRS102 SORP Accounting and Reporting by Charities guidelines.
This report should be read in conjunction with the latest impact report which is published on www.universifyeducation.com/impact.
2. Objectives and activities
Objectives and aims
Universify Education ’s charitable purpose , as set out in the governing document, is to provide equality of opportunity in education in the UK as the trustees see fit.
The charity’s vision is to support young people to realise their potential, regardless of background.
Universify Education aims to fulfil this vision and create a fairer by supporting young people from lowsocioeconomic and underrepresented backgrounds to fulfil their potential through education. Young people from underrepresented backgrounds face systemic barriers which limit their ability to access transformative personal development and further educational opportunities, including Higher Education. This perpetuates a cycle of underrepresentation both in Higher Education and in society more broadly, as important leadership, professional and decision-making roles in society are generally taken by graduates. Underrepresentation in Higher Education therefore limits individuals’ social mobility and reinforces existing inequalities.
Universify ’s programme overcomes three major barriers faced by participants:
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Limited aspirations
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Limited academic attainment
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Feeling out of place in a university setting
Universify Education ’s core programme aims to overcome these barriers by achieving the following outcomes:
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Broadening and increasing aspirations
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Increased attainment at GCSE
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Increased understanding of university and belief that university is for ‘people like me’.
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The main activities of the charity
The charity undertakes a selection of programmes to support young people from underrepresented backgrounds.
A) National programme
The core programme is a year-long programme for Year 10 students (aged 14-16) from non-selective state schools.
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A week-long residential summer programme at partner universities for participants to
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experience undergraduate student life, attending academic subject taster sessions and university admissions talks, and participating in social activities. They are supported by current or recent undergraduates who help participants feel ‘at home’ at university and challenge preconceptions that university is not for ‘people like me’.
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Monthly one-to-one coaching - unlike mentoring, coaching does not focus on giving advice. Instead, coaches guide students through the process of reflecting on what they want to achieve and creating a plan to reach their aspirations. This helps students to explore their unique strengths and interests to gain the confidence and problem-solving skills to commit to their chosen path both during and beyond the Universify programme. Coaching also provides a space for students to set and work towards academic goals to boost GCSE attainment.
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A 3-day Spring revision residential - participants return in Year 11 to revise core subjects for their upcoming GCSEs. Here, participants also look beyond Universify to access a pipeline of ongoing support for students, whether they choose to pursue university or other education and employment options. After completing the spring residential, online coaching continues until participants receive their GCSE results.
B) Alumni programmes
Universify participants continue to be supported beyond the end of the programme via newsletters containing further programme opportunities, university applications advice, and scholarships, internships and work experience.
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In 2023-24, the charity launched Alumni+, a two-year pilot programme designed for young people who had already completed the core year-long programme and had decided they wanted to study at highlyselective universities, but recognised they would benefit from additional support to realise this ambition. The programme consists of subject-specific masterclasses hosted by university partners, UCAS application and transition to university sessions, group coaching to develop academic skills and confidence, and an inperson university Open Day visit.
C) Universify Communities: Bristol programme (‘Step Ahead’)
2024-25 saw the design of a new programme to meet the need to cater to more intersectional groups. The Universify Communities: Bristol Programme (“Step Ahead”) will run in partnership with Future Quest and the University of the West of England to provide opportunities for those who have been supported by social services, including experience of social care.
Delivering the Universify programmes
Universify’s programmes are delivered in collaboration with a range of partners. The residentials and coaching are delivered primarily by volunteers who are recruited and trained by Universify staff. They undergo Enhanced DBS checks and two reference checks, and extensive safeguarding and coaching training. Seminars are delivered by experienced university tutors and revision classes taught by current GCSE tutors with a strong knowledge of the syllabus.
The charity works closely with other institutions to deliver its activities. Universify works with secondary schools across the country who send participants on the programme. It partners with colleges at the Universities of Oxford, working with their link regions and holding the residentials at these colleges. In 2024-25 the charity partnered with Jesus College, Somerville College, and Trinity College at the University of Oxford for its core Year 10-11 programme and for its supplementary Year 12-13 Alumni+ programme.
Ensuring the charity’s work delivers its aims
The charity measures its impact annually, through a range of participant surveys, teacher surveys, coach observation surveys, and statistical comparisons with benchmarks constructed by UCAS. Impact data and reports are independently evaluated annually. In addition, expertise in impact evaluation and reporting is represented on Universif y’s board of trustees.
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To ensure the charity’s work continues to best meet the needs of its beneficiaries, it recruits a student council of Universify alumni. One member of the council acts as a student representative, attending board meetings. The student council and representatives are consulted on the charity’s strategy and programme plans to ensure the Universify programme continues to be directed by the charity’s beneficiaries.
How the charity’s activities deliver public benefit
The activities undertaken further the charity’s purposes for the public benefit , increasing individuals’ social mobility by equipping young people with the skills, knowledge, and belief to realise their potential regardless of their background. As a result, these young people are able to access life changing education, employment and training opportunities, including university.
The trustees have had regard to the Charity Commission’s guidance on public benefit.
3. Achievements and performance
The charity supported 216 participants during the year 2024-25. It delivered its primary Year 10-11 programme to a cohort of 111 participants across three colleges, and a further 58 attended their earlier Year 10 residential for the 2025-26 programme. It hosted 30 students on its second cohort of the Alumni+ programme, and continued supporting 17 from the first cohort, who completed their two-year programme in Spring 2025.
A full summary of the charity’s ongoing impact and achievements can be found in its latest impact report - https://www.universifyeducation.com/impact.
How the charity performed against its objectives
The charity ’s long -term strategic objectives are as follows:
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Achieve a strong delivery record that is demonstrated by robust impact measurement
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Financial sustainability and income diversification
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Expand the programme by forging new partnerships with universities
In 2024-25, Universify continued to deliver positive impact via its existing programmes. The charity was able to make progress on expanding its charitable activities. This has been achieved through a new partnership with the University of the West of England and Future Quest to pilot a new programme, ‘Universify Communities’, tailored towards those who have accessed social services and have experience of social care.
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The financial review shows the charity’s success in securing greater support from trusts and foundations. In particular, the charity has received donations from foundations, including Garfield Weston, to support its core costs alongside project costs. This has enabled the charity to develop its new Universify Communities programme alongside delivering its existing programmes.
Financial review
The direct resource costs of Universify’s programmes are summarised in the charity’s accounts which have been prepared in accordance with the provisions applicable to small companies limited by guarantee regime and FRS102 SORP Accounting and Reporting by Charities.
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£233,163.23 of income related to donations from charitable trusts and foundations, corporate partners, public fundraising, private individuals, and interest income.
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£212,832.00 worth of benefits in kind were received in the form of donated office space and services from Oxford Summer Courses Limited and office space from True Capital Limited, and accommodation, meals and classrooms donated by partner University colleges who host the Universify residentials. The benefits were calculated by conforming to the market value at the time of use.
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There was a small surplus generated in this year of £2,881.34, reflecting the charity running well to budget.
In the accounting period May 2024 to April 2025 income came from fundraising activity including private donations, corporate donations and partnerships, successful applications to trusts and foundations and public fundraising.
Reserves policy and amount of reserves held
At the end of Universify Education ’s ninth year of operations, the charity has £98,105.26 in reserves. The charity seeks to maintain a minimum level of reserves approximately equal to three months’ operating costs, built up after considering future costs that are committed to delivering the year-long programme. At 30 April 2025 this was set at £60,000, so the charity had surplus reserves of £38,105.26 at that date. Trustees review Universify's surplus and minimum reserves position at quarterly board meetings and consider the best use of surplus reserves based on fundraising success, the fundraising landscape and the charity’s long -term strategic objectives.
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Despite the ongoing challenging fundraising landscape in 2024-25, Universify has reached the targeted level of reserves. With the securing of £95,373.57 of income for 2025-26, the trustees are confident of the charity’s ability to continue as a going concern for the next 12 months.
There are no funds or subsidiary undertakings that are materially in deficit.
Principal sources of funds
The principal funding sources for the charity are through fundraising income from trusts and foundations, public fundraising, private donors, corporate partnerships, and university partnerships.
For 2024-25, the Charity received £97,250.00 in trust and foundation grants. These included two core cost grants from Swire Charitable Trust and Garfield Weston Foundation, and regional grants to fund participant places in Bristol, London, Stoke and the West Midlands. The charity raised £99,697.77 from corporate partnerships, including income from the second year of the charity’s partnership with True Global Ltd. As part of the c harity’s work to increase the sustainability of the programme, the charity received £30,250.00 in part funding from partner colleges. In addition, the charity raised a small amount from public fundraising via its annual Christmas campaign.
For 2025-26, the charity has secured £95,373.57 of income for the next financial year through trusts and foundation grants and public donations towards the 2025-26 programme, and through renewed college partnerships. The funding for the charity’s corporate partnership with True Global Ltd was not renewed for its intended third year.
4. Structure, governance, and management
Universify Education is a company limited by guarantee incorporated on 9[th] April 2016 and registered as a charity on 20[th] May 2016.
The company was established under a Memorandum of Association which outlined the objects and powers of the charitable company and is governed under its Articles of Association.
Recruitment and appointment of trustees
The Trustees who served during the period and up to the date of this report are set out on page 3.
The charity uses an annual trustee skills audit to assess whether the board has the appropriate mix of skills.
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When recruiting new trustees, the board aims to find individuals who can support the charity’s growth and bring in additional resources, expertise, lived experience and connections to help Universify achieve its goals.
To ensure a fair and nondiscriminatory recruitment process Universify Education followed the UK Employment legislations and Charity Commission’s CC30 trustee recruitment guidance. No other person or external body is entitled to appoint charity trustees.
Organisational structure
The role of the Board is to provide oversight of the charity's activities, including planning, approval of annual budgets and review of the charity’s strategy, results, and achievements. The Board also provides general support to the staff. The day-to-day running of the charity is carried out by the staff team, with support from volunteers. During each year, the board meets for quarterly board meetings and an annual strategy day, with ad-hoc meetings and/or discussion between trustees as needed.
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Current trustees’ areas of focus
| Trustee | Date appointed | Focus area |
|---|---|---|
| Harry Hortyn | May-16 | • Supports charity strategy, provides links to key stakeholders in Oxford through experience in accredited academic short courses as co-founder of Oxford Summer Courses Limited and 5 years in social investment • Previous chair of the board |
| Matt Lacey | May-17 | • Supports profile-building and brings experience as CEO of surveying company and a background in actingand media |
| Dr Steve Rayner | Aug-17 | • Brings experience of university admissions, tuition, and governance and provides advice on programme development and approaches to universities |
| Mary Nicholson | Jun-18 | • Brings experience of risk and financial management from background in risk and sustainability in the |
finance and banking sector • Current Chair of the board |
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| Helen Norman | Mar-22 (resigned Jun-25) |
• Brings recent lived experience, experience working in the sector and teacher insight to school engagement andprogramme design |
| James Gregory | Jun-22 | • Brings safeguarding experience and provides teacher insight to school and student recruitment and programme design |
| Marco Loguidice | Jun-22 | • Brings recent lived experience of the education system, experience as a former Universify volunteer, and fundraising and strategic experience for small social enterprises |
| Steven Smith | Dec-23 | • Brings experience in law and governance, with a background as in-house legal counsel in financial services |
| Amy Ellis- Thompson |
Dec-23 (retired by rotation Jun- 25) |
• Brings experience working within the sector and of impact reporting to robustly collect and report on impact |
| Margot Sprague- Davies |
Mar-24 | • Brings fundraising experience, offering insight and guidance onUniversify’s fundraising strategy |
To ensure the charity continues to best meet the needs of its beneficiaries Universify Education appoints a Student Representative who is a member of the student council and a recent Universify alumnus. The Student Representative attends trustee board meetings but does not hold legal responsibility for the charity in the same way as the other trustees.
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The report of the trustees was approved by the trustees on 14[th] January 2026 and signed on their behalf by:
Signature:
Print name: Mary Nicholson
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INDEPENDENT EXAMINER, REP RT TO THE TRUSTEES OF UNIVER IFY ED Tl The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act") and that an independent examination is needed It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and o to state whether particular matters have come to my attention Basis of independent examinerfs statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair. view and the report is limited to those matters set out in the statement below. Independent examiners statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: o the accounting records were not kept in accordance with section 130 of the Charities Act; or o the accounts did not accord with the accounting records; or D the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fair, view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: T& Date: 15b4 2ozL Name: Thomas Bradley A MA Relevant professional body if any: CIMA Address: 16, Rue Adam Roberti, Luxembourg-merl, L-2429, Luxembourg 13
Statement of Financial Activities
For the period 1 May 2024 to 30 April 2025
| Note Donations Donations 3 Interest income Income from charitable activities 4 Total donations Benefits in kind received 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income/(expenditure) Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Net movement in funds 13 Total funds carried forward |
Unrestricted fund £ 121,522 £ 2,615 £ 124,137 £ 27,400 £ 151,537 (£ 148,656) (£ 148,656) £ 2,881 - £ 2,881 £ 95,224 £ 2,881 £ 98,105 |
Restricted fund £ 93,826 £ 15,200 £ 109,026 £ 185,432 £ 294,458 (£ 294,458) (£ 294,458) £ - - £ - £ - |
Total funds 2025 £ 215,348 £ 2,615 £ 15,200 £ 233,163 £ 212,832 £ 445,995 (£ 443,114) (£ 443,114) £ 2,881 - £ 2,881 £ 95,224 £ 2,881 £ 98,105 |
Prior period Total funds 2024 £ 170,718 £ 219 £ 14,500 |
|---|---|---|---|---|
| £ 185,438 £ 162,272 |
||||
| £ 347,710 | ||||
| (£ 347,649) | ||||
| (£ 347,649) | ||||
| £ 61 - |
||||
| £ 61 £ 95,163 £ 61 |
||||
| £ 95,224 |
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| Fixed Assets Tangible assets Current Assets Prepayments Cash at Bank and in Hand Creditors: Amounts Falling Due within one Year Net Current Assets (Liabilities) Total assets less current liabilities Total Net Assets Charity Funds Restricted funds Unrestricted funds Total Funds of the Charity |
Universify Education Balance Sheet As at 30 April 2025 Note Apr-25 10 £ 748 £ 353 11 £ 136,348 £ 136,701 12 (£ 39,344) £ 97,357 £ 98,105 £ 98,105 - 13 £ 98,105 £ 98,105 |
Universify Education Balance Sheet As at 30 April 2025 Note Apr-25 10 £ 748 £ 353 11 £ 136,348 £ 136,701 12 (£ 39,344) £ 97,357 £ 98,105 £ 98,105 - 13 £ 98,105 £ 98,105 |
Apr-24 £ 1,496 |
|---|---|---|---|
Note 10 11 12 13 |
|||
| £ 285 £ 166,109 |
|||
| £ 166,394 | |||
| (£ 72,667) | |||
| £ 93,728 | |||
| £ 95,224 | |||
| £ 95,224 | |||
| - £ 95,224 |
|||
| £ 95,224 |
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Within this financial period there are no new fixed assets, all income during this accounting period was in the form of donations, donated facilities and services.
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Approved by the directors and authorised for issue on _______. 14 January 2026
Signed by _______ on behalf of all the trustees/directors
Print Name: Date: Mary Nicholson 14 January 2026
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Universify Education
Notes to the Financial Statements
For the period ended 30[th] April 2025
1) General Information
Universify Education is a company limited by guarantee and registered as a charity in England and Wales with the Charity Commission under charity number 1167240.
The charity was established to provide equality of opportunity in education in the UK as the trustees see fit
These financial statements cover the period from 1[st] May 2025 to 30[th] April 2025.
2) Accounting Policies
The financial statements have been prepared in accordance with:
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The Charities Statement of Recommended Practice (SORP) FRS 102 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102),
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The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102),
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The Charities Act 2011.
Universify Education meets the definition of a public benefit entity under FRS 102.
The financial statements are prepared under the historical cost convention and in sterling (£), which is the functional currency of the charity.
a) Income
Income is recognised in the Statement of Financial Activities (SoFA) when the charity is entitled to the income, receipt is probable, and the amount can be measured reliably. This includes donations, grants, and other forms of voluntary income.
b) Expenditure
Expenditure is recognised on an accruals basis when a legal or constructive obligation exists, it is probable that settlement will be required, and the amount can be measured reliably.
Charitable expenditure comprises costs incurred directly in the deliver y of the charity’s activities and support costs. Governance costs include those associated with the strategic management of the charity and compliance with statutory requirements.
c) Fund Accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
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Restricted funds are donations or grants received where the donor has specified a particular purpose for the income to be used.
d) Debtors and Creditors
Debtors are recognised at settlement amount due. Creditors are recognised where the charity has a present obligation resulting from a past event that will probably require settlement, and the amount can be reliably estimated.
e) Cash Flow Statement
The charity has taken advantage of the exemption available under FRS 102 from preparing a Statement of Cash Flows, as it qualifies as a small charity.
f) Fixed asset investments
Investments are measured at fair value. Changes in fair value are recognised in the statement of financial activities. Where fair value cannot be reliably measured, cost less impairment is used.
g) Going concern
The financial statements are prepared on a going concern basis. The trustees have assessed the charity’s financial position and consider it able to continue its activities for the foreseeable future.
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3) Donations
| 2024-25 | Unrestricted | Restricted | Total | 2023-24 | Unrestricted | Restricted | Total |
|---|---|---|---|---|---|---|---|
| True Capital Ltd | £ 50,000 | £50,000 | True Capital Ltd | £ 50,000 | £50,000 | ||
| Bridgemark | £ 30,672 | £30,672 | Bridgemark | £ 30,000 | £30,000 | ||
| Education Ltd | Education Ltd | ||||||
| Garfield Weston | £ 20,000 | £20,000 | Somerville College, | £ 13,000 | £13,000 | ||
| Foundation | Oxford | ||||||
| The Swire | £ 15,000 | £15,000 | The Nisbet Trust | £ 10,000 | £10,000 | ||
| Charitable Trust | |||||||
| The Nisbet Trust | £ 16,750 | £16,750 | Jesus College, | £ 10,000 | £10,000 | ||
| Oxford | |||||||
| Royal National | £ 15,000 | £15,000 | The Lemford | £ 10,000 | £10,000 | ||
| Children’s | Foundation | ||||||
| SpringBoard | |||||||
| Foundation | |||||||
| The Co-Op | £ 13,500 | £13,500 | Walcot Foundation | £ 8,400 | £8,400 | ||
| Academy Trust | |||||||
| Somerville | £ 13,000 | £13,000 | Trinity College, | £ 7,250 | £7,250 | ||
| College, Oxford | Oxford | ||||||
| Jesus College, | £ 10,000 | £10,000 | Worshipful | £ 5,500 | £5,500 | ||
| Oxford | Company of | ||||||
| Carmen | |||||||
| Benevolent Trust | |||||||
| Trinity College, | £ 7,250 | £7,250 | |||||
| Oxford | |||||||
| Worshipful | £ 5,500 | £5,500 | |||||
| Company of | |||||||
| Carmen | |||||||
| Benevolent Trust | |||||||
| Royal National | £ 5,000 | £5,000 | |||||
| Children’s | |||||||
| SpringBoard | |||||||
| Foundation | |||||||
| Other donations | £ 5,850 | £ 7,826 | £13,676 | Other donations | £ 17,228 | £ 9,340 | £26,568 |
| and gifts (under | and gifts (under | ||||||
| £5,000) | £5,000) | ||||||
| Total donations | £ 121,522 | £ 93,826 | £ 215,348 | Total donations | £ 97,228 | £ 73,490 | £170,718 |
4) Other revenue
This refers to income generated providing support to partners to deliver activities contributing to our shared missions, for example recruiting students from underrepresented backgrounds for a STEM day.
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5) Benefits in kind
These are services and facilities provided for free by partner university colleges: accommodation, meals, and classroom space. Other benefits in kind include office space and staff time donated by Oxford Summer Courses and True Global Ltd.
| 2024-25 | 2023-24 | |||
|---|---|---|---|---|
| Item | Unrestricted | Restricted | Unrestricted | Restricted |
| College Accommodation | £128,792 | £93,160 | ||
| College Meals | £42,840 | £30,912 | ||
| Teaching space | £13,800 | £10,800 | ||
| True office space | £12,000 | £12,000 | ||
| Oxford Summer Courses office | ||||
| space | £12,000 | £12,000 | ||
| Oxford Summer Courses staff | ||||
| time donation scheme* | £3,400 | £3,400 | ||
| Total benefits in kind | £27,400 | £185,432 | £27,400 | £134,872 |
*Staff time donation scheme involves Oxford Summer Courses matching volunteer time by with time at work up to a day a month.
6) Charitable expenditure
| Programme costs College accommodation and meals Employee costs Other benefits in kind Other expenditure Total Charitable expenditure |
Unrestricted Restricted Total 2024- 2025 Unrestricted Restricted Total 2023- 2024 £ 19,992 £ 19,992 £ 13,723 £ 13,723 £ 185,432 £ 185,432 £ 134,872 £ 134,872 £ 117,448 £ 69,003 £ 186,450 £ 111,866 £ 51,655 £ 163,521 £ 27,400 £ 27,400 £ 27,400 £ 27,400 £ 3,808 £ 20,031 £ 23,839 £ 22 £ 8,112 £ 8,134 |
|---|---|
| £ 148,656 £ 294,458 £ 443,114 £ 139,287 £ 208,362 £ 347,649 |
Increased expenditure
Overall charitable expenditure increased by £95,465, driven by:
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a) An increase in college accommodation and meals costs in 2024-25 from £134,872 to £185,432 due to one of the summer programmes being brought forward by 4 months, falling in 2024-25 rather than 2025-26.
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b) An increase in salaries due to the increased headcount to 6 FTE from August 2024 and following a salary benchmarking review.
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c) £14,785 spend on fundraising consultants to cover long-term staff illness and to increase fundraising capacity.
7) Employee and trustee remuneration
None of the Trustees received any emoluments or expenses for the provision of trustee services in the reporting financial year.
No employees received benefits of over £60,000 during the period.
8) Staff numbers
There was an average of 6 full-time members of staff employed during the period. In the previous period, there was an average of 5.8 full-time members of staff employed.
9) Related Party Transactions
There were no related party transactions during the year.
10) Computer equipment*
| Assets at 30th April 2025 Cost at 1st May 2024 Additions Disposals At 30th April 2025 Depreciation At 1st May 2024 Charge for the year Disposals At 30th April 2025 Net book amount at 30th April 2025 Net book amount at 30th April 2024 |
Computer equipment £ 2,992 £ - £ - |
|---|---|
| £ 2,992 (£ 1,496) (£ 748) £ - |
|
| (£ 2,244) | |
| £ 748 | |
| £ 1,496 |
Computer equipment depreciation policy is straight line over four years 11) Cash at Bank and in hand*
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| Expenses account Cash at bank Total Cash at Bank and in hand |
£ 371 £ 135,977 |
|---|---|
| £ 136,348 |
| 12) Creditors Deferred income Operations Payable Total Creditors |
£ 37,374 £ 1,970 |
|---|---|
| £ 39,344 |
Deferred income includes funding for 2025-26 programme cycle.
13) Statement of funds
| Unrestricted Fund | Balance at 30 Apr 2024 Income Expenditure Balance at 30 Apr 2025 £ 95,224 £ 445,995 £ 443,114 £ 98,105 |
|---|---|
In accordance with our reserves policy of the total funds carried forward on 30th April 2025 (£98,105.26) we have £38,105.26 of surplus reserves. Our surplus reserves are any reserves additional to our minimum reserves amount of 3 months operating costs, which is £60,000. Trustees review Universify's surplus and minimum reserves position at quarterly board meetings and consider the best use of surplus reserves based on fundraising success and strategic objectives.
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