**Charity registration number 1169208 (England and Wales)**
## **MD EDUCATIONAL FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **MD EDUCATIONAL FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Ms M Dervan Mr I Sandbach Mr N Dervan **Charity number (England and Wales)** 1169208 **Principal address** Building 329 Doncastle Road Bracknell Berkshire RG12 8PE **Independent examiner** Kirk Rice LLP The Courtyard High Street Ascot Berkshire SL5 7HP
(Appointed 22 January 2025) (Appointed 21 July 2025)
## **MD EDUCATIONAL FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 13|
## **MD EDUCATIONAL FOUNDATION**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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)" (effective 1 January 2019).
## **Objectives and activities**
The foundation is a charity normalising student psychological fitness and resilience through guidance and early intervention. The mission is for students to feel supported in every aspect of their wellbeing by having access to the wellbeing support they need, without delay.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## _Activities_
The Charity's key aims are to prioritise student wellbeing by providing fully funded wellbeing support in secondary schools across the UK and Ireland.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
The key aim of the Foundation is to prioritise student wellbeing by providing fully funded wellbeing support in schools across the UK and Ireland.
The foundation provides up to three-year salary-funded commitment to placing dedicated wellbeing professionals within post-16 educational settings across the UK and Ireland.
To date the Foundation achievements have been demonstrated by the positive impact on students, schools and the community through the implementation of the Wellbeing Leads.
The Trustees are pleased with the progress made during the year, however due to the economic environment the main benefactor of the charity has reduced support and the activities of the Foundation were temporarily wound down in December 2025, although it is intended to re start the activities in the future.
## **Financial review**
## _Reserves policy_
The Foundation does not have a policy on reserves. The trustees ensure that sufficient funds are made available to meet the Foundation’s financial commitments on an as when needed basis.
As at the year end, the foundation had unrestricted negative reserves of £48,173, following an impairment of its fixed asset investment.
The Foundation has had a very high interest for support from schools across all regions. The plan over the coming years is to reach as many schools as possible, which will require additional resources, to achieve this a potential pipeline of applications for funding from a range of funders including statutory, private and voluntary sources is being considered.
## **Structure, governance and management**
The Foundation is a Charitable Incorporated Organisation (CIO).
The governing document is the Constitution.
- 1 -
## **MD EDUCATIONAL FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees who served during the year and up to the date of signature of the financial statements were: Mr T A Scadding-Hunt (Resigned 21 July 2025) Ms M Dervan Mr I Sandbach (Appointed 22 January 2025) Mr N Dervan (Appointed 21 July 2025)
## _Recruitment and appointment of trustees_
Trustees are appointed by a resolution passed at a properly convened meeting of the Charity Trustees.
New trustees are given a copy of the constitution and a copy of the latest Trustees’ Annual report and Statement of accounts they are also advised of the Foundation’s activities.
None of the trustees has any beneficial interest in the Charity.
## _Trade creditors policy_
The Foundation's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the Charity's contractual and other legal obligations.
There were trade creditors of the Foundation of of £39,633 at the year end. This was equivalent to 36 day's purchases, based on the average daily amount invoiced by suppliers during the year.
The trustees' report was approved by the Board of Trustees.
Ms M Dervan **Trustee**
16 March 2026
- 2 -
## **MD EDUCATIONAL FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF MD EDUCATIONAL FOUNDATION**
I report to the trustees on my examination of the financial statements of MD Educational Foundation (the charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and 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 financial statements to be reached.
## **Kirk Rice LLP**
## **David Forinton FCA**
The Courtyard High Street Ascot Berkshire SL5 7HP 17 March 2026
- 3 -
## **MD EDUCATIONAL FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|410,648|400,468|
|**Total income**||410,648|400,468|
|**Expenditure on:**||||
|Raising funds|**4**|335|31,041|
|Charitable activities|**5**|403,853|438,158|
|**Total expenditure**||404,188|469,199|
|Net gains/(losses) on investments|**11**|(60,000)|-|
|**Net expenditure and movement in funds**||(53,540)|(68,731)|
|**Reconciliation of funds:**||||
|Fund balances at 1 April 2024||5,967|74,698|
|**Fund balances at 31 March 2025**||(47,573)|5,967|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **MD EDUCATIONAL FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
||||**2025**|||**2024**||
|---|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**||**£**|
|**Fixed assets**||||||||
|Tangible assets|**13**|||1,132|||2,263|
|Investments|**14**|||-|||60,000|
|||||1,132|||62,263|
|**Current assets**||||||||
|Debtors|**15**|1,046|||4,511|||
|Cash at bank and in hand||3,345|||6,927|||
|||4,391|||11,438|||
|**Creditors: amounts falling due within**|**16**|||||||
|**one year**||(53,096)|||(67,734)|||
|**Net current liabilities**||||(48,705)|||(56,296)|
|**Total assets less current liabilities**||||(47,573)|||5,967|
|**The funds of the charity**||||||||
|Unrestricted funds|**17**|||(47,573)|||5,967|
|||||(47,573)|||5,967|
The financial statements were approved by the trustees on 16 March 2026
Ms M Dervan **Trustee**
- 5 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
MD Educational Foundation is a Charitable Incorporated Organisation under the Charities Act registered in England and Wales. The principal place of business is Building 329, Doncastle Road, Bracknell, Berkshire, RG12 8PE.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, due to continuing support from MDE Services Group Limited. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
- 6 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the financial instrument.
## _**Basic financial assets**_
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
## _**Basic financial liabilities**_
Creditors are not interest bearing and are included at their nominal value.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.12 Foreign exchange**
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
- 7 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Donations|410,648|400,468|
## **4 Expenditure on raising funds**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|**Fundraising and publicity**|||
|Advertising|335|31,041|
- 8 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **5 Expenditure on charitable activities**
|||**Charitable**|**Charitable**|
|---|---|---|---|
|||**expenditure**|**expenditure**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Staff costs|160,506|156,763|
||UK schools expenditure|48,199|115,964|
||Ireland schools expenditure|134,980|89,392|
||General schools expenditure|43,047|1,440|
||Freelancers|-|1,130|
||Other staff costs|8,204|23,311|
||Memberships and subscriptions|316|1,332|
||Launches and events|-|36,960|
|||395,252|426,292|
||**Share of support and governance costs (see note 7)**|||
||Support|4,971|8,416|
||Governance|3,630|3,450|
|||403,853|438,158|
||**Analysis by fund**|||
||Unrestricted funds|403,853|438,158|
|**6**|**Net movement in funds**|**2025**|**2024**|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable to the charity's independent examiner:|||
||- for the independent examination of the charity's financial statements|1,110|1,050|
||- for other financial services|2,520|2,400|
||Depreciation of owned tangible fixed assets|1,131|1,131|
|**7**|**Support costs allocated to activities**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Depreciation|1,131|1,131|
||Telecommuncations|829|555|
||IT software and consumables|2,103|5,826|
||Insurance|851|823|
||Bank charges|57|81|
||Governance costs|3,630|3,450|
|||8,601|11,866|
- 9 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **7 Support costs allocated to activities**
## **(Continued)**
Governance costs includes payments to the Independent Examiners of £3,630.
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **9 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2025**
**Number**
4
**2025**
**£**
144,227
10,510
5,769
160,506|**2024**
**Number**
4|
|---|---|---|
|||**2024**
**£**
143,599
8,769
4,395|
|||156,763|
Leah Iles served as CEO of the foundation, but is remunerated by a related party.
The number of employees whose annual remuneration was more than £60,000 is as follows:
|£60,000 - £70,000
£70,001 - £80,000
**10**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2025**
**Number**
-
1
**2025**
**£**
5,769|**2024**
**Number**
1
-|
|---|---|---|
|||**2024**
**£**
4,395|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 10 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **11 Gains and losses on investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|(60,000)|-|
## **12 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **13 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Computers**|
||**£**|
|**Cost**||
|At 1 April 2024|3,394|
|At 31 March 2025|3,394|
|**Depreciation and impairment**||
|At 1 April 2024|1,131|
|Depreciation charged in the year|1,131|
|At 31 March 2025|2,262|
|**Carrying amount**||
|At 31 March 2025|1,132|
|At 31 March 2024|2,263|
## **14 Fixed asset investments**
||**Unlisted**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 April 2024|60,000|
|Valuation changes|(60,000)|
|At 31 March 2025|-|
|**Carrying amount**||
|At 31 March 2025|-|
|At 31 March 2024|60,000|
- 11 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **14 Fixed asset investments**
**(Continued)**
Fixed asset investments relates to an investment in Mind Body Goals Ltd. This investment is in line with the charitable objectives of the foundation, with the company working to provide young people with mental health support.
During the year, Tarquin Scadding-Hunt, trustee, was also a director of Mind Body Goals Ltd but received no remuneration or other benefits from the company.
## **15 Debtors**
|**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income|**2025**
**£**
-
1,046
1,046|**2024**
**£**
4,073
438|
|---|---|---|
|||4,511|
## **16 Creditors: amounts falling due within one year**
|Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2025**
**£**
2,362
39,633
573
10,528
53,096|**2024**
**£**
4,432
57,896
1,086
4,320|
|---|---|---|
|||67,734|
## **17 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.
||**At 1 April**|**Incoming**|**Resources**|**Gains and**|**At 31 March**|
|---|---|---|---|---|---|
||**2024**|**resources**|**expended**|**losses**|**2025**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|5,967|410,648|(404,188)|(60,000)|(47,573)|
|**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Gains and**|**At 31 March**|
||**2023**|**resources**|**expended**|**losses**|**2024**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|74,698|400,468|(469,199)|-|5,967|
- 12 -
## **MD EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **18 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
||**Donation**|**income**|
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Other related parties|410,648|400,468|
||410,648|400,468|
- 13 -