wexsolve
problems
Charity registration number 1171037
Annual Report and Accounts
for the period to 30th April 2024
() < 11
YJ
WeSolveProblems.orÈ.u

We Solve Problems CIO
Table of Contents
Table of Contents
Foreword by the Chair of the Trustees
Objectives & Activlties
Achievements & Performance
Our plans beyond today
Flnancial Review
Structure, Governance & Management
Reference & Administrative Details
Statement of Trustees respon5ibilltles In respect of the Trustee annual report and
the financial statement5
10
Independent Examiners Report
li
Statement of Financial Activities
12
Balance Sheet
13
Notes to the Financial Statements
14
Please note: permission has been granted for We Solve Problems to Ljse all included images.

We Solve Problerns CIO
Foreword by the Chair of the Trustees
Welcome to our seventh formal Annual Report.
When we started our charity a few years ago, our ultimate goal was to bring the joy of mathernatics
to a broad audience, by growing the number of locations across the country. However, we re31ized
early on that this growth should not come at the expense of quality of our activities, and our
intermediate efforts can now in retrospect be described as searching for a sustainable way to scale,
not dissimilar to "startup" mentality prevalent in the commercial sector.
We can now say that after a number of iterations, including our experiments with online learning
and despite the disruption of the pandemic, we have honed a particular delivery format that best
achieves our goal. Put simply, this means running an open weekend activity, in partnership with an
academic institution of higher learning, and with tutors specializing in STEM degrees from that
institution acting as tutors. During 2023124 year, we have started several new circles of this nature,
and see a significant number of further potential sites in the pipeline.
We have always prided ourselves on having a diverse student body, with children coming to our
circles from different backgrounds (both educational and otherwise). It is now equally important to
us that our Maths Circles are now geographically dispersed thought England and Wales. This allows
us to bring the benefits of our method to an even broader audience.
As usual, the credit goes to the team and partlcularly our general manager, Ignat, who has worked
tirelesslyto put in place all the systems sustaining this growth, It is due to his effortsthat we are still
running a lean operation and can use the lion's share of our resources to empower local teams to
deliver the best experience for our audience.
We are looklng forward to rnore problems solved, and more paths opened, in the years to come.
Amlr Allev
Chair of the Trustees

We Solve Problems CIO
Objectives & Activities
The charity was founded by three PhD mathematicians in order bring the benefits
of advanced mathematical thinking to mathematically curious pupils in school
years 7-11 (ages 12-16). WSP achieves this by encouraging creative mathematical
thinking and helping to develop pupil's skills in communicating mathematical ideas
and working collaboratively. These skills are gained through weekly Maths Circles
and then honed once a term in a Maths Battle.
We currently run Circles at several locations throughout the UK as a weekend club
open to a broad range of participants from local area. We do not make any
charges to the participants of Maths Circles. Our tutors are mainly Maths
undergraduate and post-graduate students or professional mothematicians in their
own right.
The charily has been set up for the public benefit in terms of encouraging and
helping children to understand mathemotics ond further their educational needs,
The trustees have hod regord to the Charity Commission's guidance on public
benefit.
Our Bases
During the period under report, we held weekly meetings on Saturdays during school
term times in rooms provided by KCL, UCL, Keble College (Oxford University),
University of Bath, Cardiff University and Warwick University. These events gather
students from the local schools. With a typical circle running for a benefit of about
30 students, we had over 240 students attending a circle more than once during the
academic year.
Moths Circles
Our Maths Circles encourage the two lifelong. and more importantly transferable,
skills of problem solving and collaborative working through diverse mathematical
topics such as elementary logic, probability. induction. and many others. Maths
Circles are the training sessions, teaching pupils how to articulote and dissect
mathematical concepts. A concept is introduced and discussions held over how it
could be solved. Pupils try this then use that leaming to attempt similar problems,
encouraging transferable skills.

We Solve Problems CIO
Maths Battles
Maths Battles are 'debating' competitions between two opposing teams. The teams
are given a set of problem5 to solve." each team then presents their solutions for the
scrutiny of the opposing team. The opposing team has the right to challenge their
workings. A team wins by correctly solving more problems as well as successfully
presenting their solutions.
Database Presentation
The problems.org.uk website is currently open to the public and being used by our
own team which prepares the problem sheets for our Maths Circles. We regularly
receive emails from the parent5 of porticipants of Maths Circles programme
requesting access to the restricted part of the website, containing solutions to the
problems.
Foundation COMPOS
In collaboration with the Physics Department of the University of Oxford we are
providing online training in physics and mathematics to the overseas pupils and
those of private schools.

We Solve Problems CIO
Achievements & Performance
Events
This year we started two completely new Circles: at University of Bath {April 2023)
and later on at University of Warwick (November 20231. Due to the popularity of the
Warwick Circle, we started the second session there in February 2024.
In September 2023 we ron the now traditional London Verbal hAaths Challenge {for
I l O participants} as a screening event to fill in two additional sessions at the Circles
at KCL and at UCL.
2023 wa5 finished with, again now-traditional. Inter-school Maths Battle at King's {78
participants), where teams from our Circles and other London schools took part (8
teams in totall.
In January 2024 we ran another edition of the London Verbal Maths Challenge to
select the pupils for the yet another Ithirdl session at KCL, our most popular location
so far.
Our Maths Circles and Baltles have been well attended over the year, with about
240 pupils in total regularly present at the Circles
about twice the number as
compared to the previous year.

We Solve Problems CIO
Our plans beyond today
hAore Locations
We actively work to keep expanding our Circles both in terms of the number of pupils
attending, and in terms of the number of locations. The Maths Circle at University of
Bristol will be started in November 2024, and a new (third) session at UCL will be
operational by the same time. We are currently in a number of conversations with
universities around the UK to explore their participation in the programme, including
those of Leicester, Loughborough, Manchester, Newcastle. and Imperial College
London.
Inter-school Maths Battle
Aiming to create additional motivation for the students of the Maths Circles we run
intro-circle Maths Battles twice a term. In addition to that we will keep organising
Inter-school Maths Battle twice a year where the best representatives of our Circles
are invited to participate. along with teams from other schools and institutions.
These events include a public lecture by well-known authors and mathematics
popularisers. For the season of 2024/25 the lecturers will be Dr Simons Singh and Dr
Tom Crawford.
London Verbal Maths Challen
The concept of the London Verbal Maths Challenge, introduced in previous years,
is to be polished and improved. There will be two events per school year: autumn
and winter editions.
During the event, the pupils are given a number of advanced maths questions from
different mathematical areas and at different levels of difficulty. Once a question is
completed, they will verbally present their answer to one of WSP'S adjudicators, all
of whom will be Masters or PhD students, or professional mathematicians in their own
right.
Office Mana
ement
Our General Manager during the period. Ignat. has been home working for us
overseeing the charity's administrative and marketing tosks.

We Solve Problems CIO
Financial Review
The charity received gross donations of £126,530 and tutoring fees of £27,086 for the
period ended 30th April 2024. With a total of £121.974 resources expended this left
a surplus of £31 ,642 to be caThied foward for future trading periods.
Added to prior year surpluses. the total accumulated funds carried forward as ot
30th April 2024 were £58,739.
None of the charity's funds are restricted but they must be used to further the
charity's objectives. To date WSP has been funded mainly through the philanthropic
activity of Amir Aliev. one of our Trustees.
Without his vision and unswerving support, we could not have achieved what we
have. We realise that we need additional and alternative revenue stream, and our
General Manager will be charged with investigating this. It is our intention to
continue offering most of our services free of charge.
Risk Mana
emerit
The major risks to which the charity is exposed have been identified and considered.
They have been reviewed and systems established including a formal risk register
which has been subjected to review.
The most significant risk relates to the care of children whilst in our charge. To
mitigate this all those involved with the children are subjected to DBS checks and
appropriate details are kept on children such as emergency contact numbers.
Reserves
olic
The charity intends to build a reserves policy equivalent to at least three months
operating expenditure during the next year.
Goin
Concern
The trustees consider the charity to be a going concern for the foreseeable future,
and for a period of at least twelve months following the date of this report.

We Solve Problems CIO
Structure, Governance & Management
We Solve Problems {WSP) was registered as a Charilable Incorporated Organisation
under registration number 1171037 on the 9th of January 2017. The charity is
governed by its Constitution. The trustees named on page 11 have served
throughout the year and since the year end. Appointment of trustees is governed
by the Constitution of the charily, whereby the existing trustees have the power to
appoint further trustees as required. Appointed trustees must be oppointed for a
term of three years upon resolution.
In selecting individuals for appointment. the trustees musl have regard to the skills,
knowledge and experience needed for the effective administration of the charity.
If any further trustees were appointed, they would be introduced to their new role
and given copies of the Constitution and a guide to the policies and procedures
adopted by the charity. A number of publications from the Charity Commission
would also be provided to ensure that new trustees would be aware of the scope
of their responsibilities under the Charities Act.
Fundin
To date WSP has been funded through the philanthropic activity of Amir Aliev and
Vassiliy Filippov, both being our Trustees. Without their vision and unswerving support,
we could not have achieved what we have. Additional funds were raised by
tuloring overseas students through the Foundotion COMPOS initiative.
We realise that we need additional and alternative revenue stream. We started the
Fundraising Campaign in 2023, and hopefully new sponsors will support the charity
in the future.
According to our arrangements with all the Universities we work with, we are
provided rooms at no cost to ourselves. This. together with our General Manager
working from home, has meant that we do not need to invest in office buildings at
this point.

We Solve Problems CIO
Reference & Administrative Details
Our legal framework is as follows:
Full name of charity..
We Solve Problems CIO
Registration Charity Number:
1171037
The correspondence address is.. Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH159AE
The bankers are,.
Unity Trust Bank
9 Brindley Place
Birmingham
BI 2HB
The accountants are".
Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH159AE
Our Trustees are:
Amir Aliev
Elena Boguslavskaya
Vassiliy Filippov
Our General Manager:
Ignat Fialkovskiy

We Solve Problems CIO
Statement of Trustees responsibilities in respect of the Trustee
annual report and the financial statements
Under charity law, the Trustees are responsible for preparing the annual report and
the financial statements for each financial year which show o true and fair view of
the financial performance and position of the charity.
In prepartng these financiol statements, generally accepted accounting practice
entails that the trustees:
select suitable accounting policies and then apply them consistently;
make judgments and estimates that are reasonable and prudent;
state whether the recommendations of the Statement of Recommended
Practice have been followed, subject to any material departures disclosed
and explained in the financial statements;
state whether the financial statements comply with the trust deed, subject to
any material departures disclosed and explained in the financial statements,.
prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the charity will continue its activities.
The Trustees are responsible for keeping proper accounting records, sufficient to
disclose at any time, with reasonable accuracy, the financial position of the charity
at that time, and to enable the trustees to ensure that, where any statements of
accounts are prepared by the Trustees under section 132(1 l of the Charities Act
2011, those statements of accounts comply with the requirements of regulations
under that provision. The Trustees have general responsibility for taking such steps as
are reasonably open to the Trustees to safeguard the assets of the charity and to
prevent and detect fraud and other irregularities.
Signed on behalf of the Trustees:
Amir Aliev (Chairl
10

We Solve Problems CIO
Independent Examiners, Report to the Trustees of
We Solve Problems
I report on the accounts of the Charity for the period ended 30 April 2024 whlch are set out on pages 12 to 16.
Res
ective Re5
onsibilities of the Trustee5 and Examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit Is not
required for this year under section 144 of the Charities Act 2011 (the 2011 Act} and that an independent
examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity Commission; and
to state whether particular matters have come to my attenlion.
Basis of Inde
endent Examiners, Re
ort
My examination was carried out in accordance with the 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 the seeking of explanatlons from you as 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.
Inde
endent Examiners, Statement
In connection with my examlnatlon, no matter ha5 come to my attention:
(11 which give5 me reasonable cause to belleve that, in any material respect, the requirements..
to keep accounting records in accordance with s.130 of the Charities Act 2011; and
to prepare accounts which accord with the accounting records and to comply with the accounting
requirements of the Charities Act have not been met: or
121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
account5 to be reached.
("{ .
Name of principal: S P Lea
Name of firm.. Sigma Partners
Relevant profe55ional qualification or body: ACCA
Address: Delmon House
36- 38 Church Road
Burgess Hill
West Sussex
RH15 9AE
Date:
IG/.,I
11

WE SOLVE PROBLEMS
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 30 April 2024
Including summary income and expenditure account
Unrestricted Endowment Total
Funds
Funds
2024
2023
Note
Incoming Resources
Donations
Tutoring Fees Receivable
126,530
27,086
0 126,530
27,086
77,744
6,990
Total Incoming Resources
153,616
0 153,616
84,734
Resources Expended
Charitable Expenditure
Management and Administration
80,216
41,758
80,216
0 41,758
32,285
32,294
Total Resources Expended
121,974
0 121,974
64,579
Net movement In funds for the year
31,642
31,642
20,155
Total Funds brought forward
27,097
0 27,097
6,942
Total Funds carried forward
58,739
58,739
27,097
There were no recognised gains or losses for 2024 or 2023 other than those included in the
statement of Financial Activities.
12

WE SOLVE PROBLEMS
BALANCE SHEET
As at 30 April 2024
Unrestricted Endowment
Funds
Funds
Total
2024
2023
Note
Flxed Assets
Website
Computer Equipment
8,382
269
8.651
8,382
269
8,651
7,082
14
7,096
Current Assets
Stock of Prizes
Tax Refund due
Paypal
Cash at Bank - current account
350
41,750
642
11,614
54,356
350
41,750
642
11.614
54,356
175
16,750
4,512
21,437
Current Liabilities
Creditors and Accruals
4,268
4,268
1,436
Net Current Asset8
50,088
50,088
20,001
Total Net Assets
58,739
58,739
27,097
Funds
58,739
58,739
27,097
The charitable company is entitled to an exemption from audit under section 477 of the Companies Act 2006
for the year ended 30th April 2024.
The members have not required the charitable company to obtain an audit of its accounls for the year ended
30th April 2024 in accordance with section 476 Companies Act 2006.
Approved by the Trustees on .
031od /202r
and signed on their behalf.
AAliev-T
stee
13

WE SOLVE PROBLEMS
Notes to the 3ccounls
For the year ended 30 Aprll 2024
Publlc Benefit Entlty
We Sofve Problerns is constituted as a Charitable InccKFAiralad Orgarisalion 8nd r8gist8r
In the United Kingdom. It is a Public Benefil Enlity.
Accounting Polici
Basis of preparatlon of accounts
The financial staLements are prepared und•r Ihe historirAI cosl convenfjon
ond In 8cwdan¢e ￿￿th thg Chadtable SORP Flnancial Rawrtlng Standard 102.
Going Concèrn
Th8 Irust88s considgr that Gharity %ill b8 a golrKJ conc8rn for a parknfj of 8t18asl tW81vè
monlhs follohing Ihe (Jal& ol the awlll re￿￿.
Incomo
Dcm81ions are acGounled lor iecsivod by th* tharfly.
2.4 Resou￿9$ Expend•d
Expendllure Is Includod on an a¢rJu81s b8sIs.
Managen)8nt and administration cornprise5 cc¢ts lor the nJnnlng ol Ihg charity ilsell a8 an
oiganisation.
Fund Accountlng
Detall8 ol the nature end pu￿058 of e8ch lund is s•1 In Note 9.
Flx•d Assets
Fixed assets are held al hl8torl¢81 rml198s 8morti8811on, tjepwabon and Impaimenl provlslons.
AmortlsBllon Is chBrg•d on the Webslt8 over a P8riL•J of 5 yaars.
D8praclalion is chargad on Compul¢r Equipmenl al a rale 0133% on t￿1.
Charltable Expgndltura
Charil4trAe expendlture Is Comp￿Sed ol-
2024
2023
Contraclor5 prov¢ding lullion
Events. prfzes & compeiitlon cos18
8(KJks & educBllonal materials
Vonve Hlre & Calerlng
FurdrBlslng asslstanc&
Problems Dal8bBse
71,956
2,871
27,962
3,169
1,154
1,410
3,036
80.218
32,28b
M•noggm•nt and Adrnlnlstrntlon
Man8gernenl end admlnl$lr8llon exp&n8es are eomprlsed of:
2024
2023
Adminlslrativa Salaries
Empk)yaVs Nl
Panslon Costs
Trav81
Prlnl, Posl & Sladonery
Computer Costs
Advertising, Markeling & Promolion81 k4at&rials
Sundri6s
Insuranc8
Account2ncy
Legal & Professlonal Fees
Bank Charg85
Arnortisation - Websile
D8pre¢lallon- c(￿Pu1&r Equlpment
28.750
19,231
875
2.833
1.334
518
437
1,807
1.222
1,886
250
2.326
2,019
2,858
118
1,769
4go
92
2.538
147
14

WE SOLVE PROBLEMS
Notés to tha accounls
For the year &nded 30 Aprtl 2024
staff Costs and Trusteès R•mun•ratlon
No remvnerBllon was paSd lo the twslees in Ihe y￿, any trusteos, expenses reimbursed.
All dvuès vAr8 k*rformad by the Irustèas Ih8fflsefv8s. ￿1th on8 memb8rof 3drninistratW6 slaff.
No emrAoyea recebved remunerallon In ex¢688 of £50.0￿.
Intanglblo Flxod A$88ts
2024
Wabslte
A8 at 01.05.2023
8.851
AddltiLYbS
3,838
As al 30.04.2024
Amo
Isa
lon
A8 8101.05.2023
1,769
Chargè lor Yéar
2,538
As Al 30,04.2024
NBV
Ag 0130.04.2024
As o130.04.2023
Flx•d A8•al$
X124
Computar Equlpmènt
As 8101.05.2023
1A84
AddStsons
402
As al 30.04.2024
De
recAB
As a101.05.2023
1.470
Charge l(x Year
147
As al 30.04.2024
N8V
As al 30.04.2024
AB a130.04.2023
14
Crèdltor8 and Accrual$
2024
2023
Accjuals
Expenses due
Wag8s dua
PAYE dua
Pensions due
1,621
678
2.105
403
139
-791
109
15

WE 80LVE PROBLEMS
Notes to th• accounts
For the ￿ar ended 30 April 2024
Funds
Unrastricted funds compdse those fvnds Ihe Irusiaes ¥e free lo us8 in aca)rdanca with the
charilabl6 objectives.
io
Rèlatèd party transactlons
DonatKJn5 of £100.CQO hav8 been rKeivad in th8 year from A Aliev. a Irusiéè of thè charfly12023 - £52.OLKJI.
No donallon5 have been re¢eivwJ *) th6 ￿ar Irom V FNW. a Irusl¢o of the tharfly (2023- £10.0001.
16