FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
September, 1947 – Arrival of the first post war child migrant boys in Fremantle, Western Australia
Page Contents 3 - 15 Trustees’ annual report 16 – 19 Auditor’s report 20 Statement of financial activities 21 Balance sheet 22 Statement of cash flows 23 –33 Notes to the financial statements
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FULL NAME: Child Migrants Trust
CHARITABLE INCORPORATED ORGANISATION NUMBER: 1171479
PRINCIPAL ADDRESS: 124 Musters Road, West Bridgford, Nottingham, NG2 7PW
TRUSTEES:
Hon Alderman Joan Taylor MBE Anthony Roe Kevin Thomas Prof Patricia Higham Frances Swaine
INTERNATIONAL DIRECTOR:
Dr Margaret Humphreys CBE, AO
GOVERNING DOCUMENT & MANAGEMENT:
The above trustees have been appointed to serve the Trust in its legal status as a Charitable Incorporated Organisation.
PRIMARY BANKERS:
UK: National Westminster Bank plc 16 South Parade, Nottingham, NG1 2JX
Overseas: Westpac
216 Upper Heidelberg Road, Ivanhoe, VIC 3079, Australia.
AUDITORS:
Rogers Spencer, Newstead House, Pelham Road, Nottingham NG5 1AP
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September, 1947 – Arrival of the first post war child migrant girls in Fremantle, Western Australia
TRUSTEES' RESPONSIBILITIES STATEMENT
The Trustees 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).
The law applicable to charities in England & Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2015 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.
The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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OBJECTIVES AND ACTIVITIES
The core objective of the Child Migrants Trust (CMT) is to provide family research and social work services so that former Child Migrants from the United Kingdom can reclaim their personal identity and reunite with their family. In addition, the Trust promotes greater public understanding of the history of child migration and its present implications for former Child Migrants and members of their families.
During much of the twentieth century and only ending in 1970, thousands of British children were sent abroad under the Commonwealth child migration schemes. Whilst early child migration schemes were focussed on Canada until the 1920s, in the post-war years most children were sent to Australia, with smaller numbers migrated to New Zealand, Southern Rhodesia (now Zimbabwe) and Canada.
For almost 40 years, CMT has provided specialist, independent social work services to former Child Migrants and their families. The Trust has also supported former Child Migrants in their campaigning activities for recognition with practical measures to manage the adverse consequences of child migration.
CMT is the only independent, professional social work agency that works with former child migrants from all migrating agency backgrounds.
By providing social work help with issues such as disrupted family relationships, reclaiming personal identity and coping with the painful legacy of childhood abuse in institutions, CMT works to promote recovery and a better understanding of past practices which resulted in adverse outcomes for most former Child Migrants, and often members of the next generation.
CMT social workers provide trauma informed services to assist former child migrants address and recover from the painful legacy of historic childhood abuse. Where appropriate, CMT assists former child migrants to participate in historic institutional abuse Inquiries and redress schemes through the preparation of detailed written and oral statements of evidence.
Support with applications to various redress schemes across the United Kingdom and Australia is now a key feature of CMT’s work with former Child Migrants.
Working closely with its colleagues based in Australia, CMT offers a unique model of social work service to address the needs of former Child Migrants residing overseas whilst also providing counselling and family restoration services to family members living across the United Kingdom.
This integrated service model promotes better reunion casework practice with CMT’s professional staff taking a central coordinating and therapeutic role. The aim is to ensure that all key family members’ needs and interests are considered in planning the delicate first stages of a family reunion following decades of separation.
PUBLIC BENEFIT
We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
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CMT’S SOCIAL WORK SERVICE
Former child migrants lost their families and their identities through the child migration schemes. Deportation of young children to countries across the Commonwealth often occurred without their parents’ knowledge, or consent.
The children frequently arrived at their destination countries without full or correct information about their family background, or the reasons why they were separated from their mothers and fathers. For many, this has had catastrophic long-term consequences for their emotional wellbeing, their sense of personal identity and their assumptions about their relationships with their different family members.
Indeed, many believed the account which they were often given by institutional staff that they were orphans whose parents had died during the Second World War. Clearly, many former child migrants were not in a position to question or confirm this account during their vulnerable childhood years.
Consequently, a primary task for the Trust’s social work team is to establish for each former child migrant key facts and basic details about both the individual client and his or her family background.
This frequently involves obtaining a series of birth or marriage or death certificates to separate fact from myth or fiction. Obtaining historic childcare files also help to fill in the missing pieces and help to construct a more realistic and accurate account of the facts of both individual identities and family backgrounds. Governments in the United Kingdom and Australia have recognized their responsibilities to address the harm to thousands of children and families directly caused by child migration.
National apologies delivered in 2009/10 have been supported through funding of CMT’s specialist services and a range of resources designed to promote recovery from experiences of loss and trauma.
Following the UK Apology in 2010, HMG through the Department for Education funds CMT services under two main workstreams; restoration of family and identity and therapeutic work to address historical childhood institutional abuse, which includes supporting applications to various redress schemes.
CMT’s model of practice relies heavily upon social workers’ capacity for travel to the varied locations where former child migrants and members of their families now reside. This is complex, sensitive work often addressing profound childhood loss and trauma that usually requires discussion in person rather than telephone or remote communication, particularly in the early stages of contact.
The child migration schemes, often practiced in a harsh and deceptive manner, left many former child migrants with residual confusion arising from a poor and fragmented understanding of their own past.
Many were wrongly told their parents had rejected or abandoned them, when the reality was that parents were also deceived by charitable and faith-based agencies operating government sponsored child
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migration schemes. A lifetime of such a hurtful narrative is not easily remedied and certainly needs faceto-face services to bring about the start of recovery.
Former child migrants continue to anxiously await the government’s response to recommendations from the final report of the Independent Inquiry into Child Sexual Abuse published in October 2022, which recommended redress schemes for England and Wales.
That measure would bring about equality with former child migrants from Northen Ireland and Scotland where redress schemes have already been established following public child abuse inquires.
Over the past few years since the global pandemic, there has been a notable increase in requests for family research to locate missing family members, particularly fathers and paternal relatives.
DNA technology, which is constantly evolving in its sophistication, has become a helpful and relatively inexpensive resource for complex searches where, in the past, a lack of primary documents or information regarding the identity of fathers has prevented any progress to identify close family members.
The social work service has suffered this year due to the ten per cent reduction in the Trust’s UK funding which has, in turn, resulted in a reduction in the administrative support available to the team. Although a useful innovation, the recruitment of a local University student as an administrative assistant helped to offer some support but the use of temporary staff as a stop gap measure is far from ideal in delivering a service where continuity is a key factor.
RESTORATION OF FAMILY AND IDENTITY
Today, most former child migrants live outside of the United Kingdom, in the countries where they were sent as children under the child migration schemes. The last child migrants sent by the UK government arrived in Tasmania, Australia in 1970, but most children left the UK by the late 1950s. The greatest number of surviving child migrants live in Australia, where the majority arrived during the past war years. Canada and New Zealand each have several hundred former child migrants remaining, with smaller populations in Zimbabwe and South Africa. We estimate that between 150-200 former child migrants returned to live in the UK permanently, mostly between the 1960s-90s. During 2024-25, 71 former child migrants were reunited with family members through CMT family research activities. Family research is a critical part of the social work service and requires domestic travel across the four countries of the UK to interview former child migrants’
relatives located through research.
Usually, those interviews eventually lead to contact, and often reunions in person supported through the Family Restoration Fund. The majority of close relatives interviewed by CMT were completely unaware that they had brothers, sisters or cousins sent abroad as child migrants. Sometimes former child migrants’ families are located further afield from the UK. For example, numbers of former child migrants’ mothers
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were GI brides or later married Canadian servicemen. Whilst CMT’s work in Canada is focused upon those sent under the child migration schemes, we also provide services to those whose mothers moved to Canada as war brides and subsequently raised families abroad.
CMT delivered services related to restoration of family and identity to over 450 former child migrants during 2024/25. Vital documents of identity such as full birth certificates were withheld from former child migrants for decades despite being essential for the many official demands of everyday life. This year, CMT provided almost 130 identity documents and retrieved over 85 historical care files from UK agencies.
Help to resolve citizenship issues and obtain visas and passports is also a key part of CMT’s family and identity service and often requires sensitive advocacy as well as a detailed understanding of the changing rules and regulations surrounding these issues.
REDRESS AND SOCIAL WORK SUPPORT
The work of CMT since 1987 has shone a light on historical institutional child abuse and the oppressive culture of past practices that adversely affected thousands of British child migrants. Whilst official responses to calls for social justice have been slow and sometimes tokenistic, there are now several redress options available in Australia and the United Kingdom for former child migrants who feel ready to address issues of historical abuse and injustice.
In some situations, there are also options for civil litigation following recent legislative changes to time limitations for historical abuse. During 2024, changes were announced to remove time limitations for historical child abuse in England and Wales that have prevented actions in the past to address these difficult and complex issues and achieve a more acceptable measure of justice.
CMT has developed a specialist trauma informed practice model to help former child migrants prepare applications for redress schemes or civil litigation in relation to historical child abuse. For many, this will be the first time they have spoken as adults about their childhood abuse. Consequently, it is often regarded as a major emotional challenge requiring courage and stamina.
There is now a better understanding that institutional abuse experienced in early childhood is likely to have an enduring negative impact upon many aspects of people’s lives, and that independent, social work services are vital to maintaining safety and wellbeing. These are critical elements of CMT’s services.
One scheme available to all former child migrants is the government’s ‘UK Payment Scheme’ established in April 2019 in response to recommendations from the Independent Inquiry into Child Sexual Abuse investigation into child migration. CMT manages this scheme on behalf of the UK government and ensured that payments to most eligible applicants were made in the first six months following the scheme’s opening. Since that time, there has been a small and steady number of applications, but these have now been reduced to only single figures. Of course, every individual payment remains very significant to each applicant in several ways.
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Redress schemes in Northern Ireland and Scotland have been established following historical abuse public inquiries. CMT continues to help former child migrants in Australia, Canada and New Zealand to prepare their applications. The Northern Ireland scheme has now run for six years and closed to new applications from April 2025.
In Australia, responsibility for children in care falls under the responsibility of individual States and territories, and the response has not been consistent for child migrants across the country. The Victorian State Government delivered its apology to children abused in State care in 2024. Approximately 500 UK child migrants were sent to Victoria between 1937-1963.
Subsequently, its redress scheme opened in December 2024 and CMT has been approved as an official provider of support services for those former child migrants who wish to apply to this scheme.
The Australian government’s national redress scheme opened in 2018. Although it is limited to historical sexual abuse, CMT has now supported more than 350 former child migrants to prepare their applications.
During 2024-25, CMT helped more than 450 former child migrants to apply to various redress schemes or manage the difficult period whilst awaiting an outcome. In some cases, a referral to specialist lawyers was arranged to pursue civil litigation rather than a statutory redress scheme.
This area of work continues to develop as former child migrants become increasingly aware of the extent of historical abuse and the options for support available to them. In October 2022, the Independent Inquiry into Child Sexual Abuse The tabled its final report, with a specific recommendation for redress schemes for those who experienced historical abuse in both into England and Wales.
If the new Labour government implements the recommendation for redress schemes in England and Wales, it is anticipated there will be significant impact on demand for services given most former child migrants spent time in care in England or Wales prior to being migrated to Australia, Canada, New Zealand or Southern Rhodesia.
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THE UK PAYMENT SCHEME
Unlike redress schemes with different levels of payments which require a detailed submission and assessment process, the UK scheme usually only needs data to confirm the applicant’s status as an eligible former UK child migrant. Extra documents are expected from those claiming on behalf of a recently deceased former child migrant. A single payment of £20,000 is made to those who qualify.
During this year, a total of only seven applications were processed and approved while two further enquiries did not meet the necessary criteria for eligibility.
Whilst the rate of new applications continues to be very low, this reflects the success of the early implementation and management of the scheme. It is anticipated that further applications in small numbers will be received for some years to come, as former child migrants disconnected from any networks or sources of information gradually learn about the government’s offer of redress for loss of family and the risk of abuse through child migration.
CMT has taken several steps to inform other organisations in contact with former child migrants about the Payment Scheme, but it is the reality that some former child migrants still remain unknown to CMT, other services and informal networks of former child migrants.
Most applicants reside in Australia with others from the UK, Canada, New Zealand and Zimbabwe. The overall total stands at 1756 payments.
For a significant number of former child migrants, especially those on fixed incomes like pensions, a lump sum of £20,000 has proved to be extremely useful in meeting urgent needs or providing some sense of financial security.
This scheme is organised as a partnership between the Department of Health and Social Care, the funding and governance agency, the Trust, which manages applications and confirms eligibility, and the NHS Business Services Authority, which makes the payments.
Regular telephone conferences, on a quarterly basis, ensure a consistent approach and effective coordination between the staff and systems at all three organisations.
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THE FAMILY RESTORATION FUND (FRF)
The Family Restoration Fund is a UK government funded resource, managed by CMT, which enables former child migrants to visit their families from whom they were separated through child migration. The costs of international flights, accommodation for up to seventeen nights and related travel costs including insurance are met by the FRF. Most visits involve former child migrants based in Australia travelling to different parts of the UK to visit their relatives.
However, there is also provision for two relatives to visit those former child migrants whose health condition precludes long haul travel.
The great majority of former child migrants are now aged in their 70s and 80s, and consequently very few have parents still alive. However, many, probably the majority, have younger brothers and sisters, most of whom grew up not knowing their mother or father had another, older child prior to their marriage.
Given their advancing age, many former child migrants live with complex health conditions that need careful management when planning long-haul travel. Fortunately, CMT uses professional specialist travel planners who are sensitive to value for money pressures when managing public funds, whilst ensuring former child migrants are safe and comfortable when travelling to meet family. The Family Restoration Fund has been highly successful since it was first established fifteen years ago, as a practical measure to support E i= geet the government’s Apology, by removing the financial barriers to
bringing families together. The FRF has supported fifty reunion visits this year to family members across the UK, Ireland and other countries where family members reside.
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FUTURE PLANS
In recent years, the Trust’s work has been heavily influenced by the final reports of national inquiries into different aspects of childhood abuse, often in institutions in different jurisdictions, including all four UK countries. These have now concluded although the recommendations of the IICSA inquiry still await a decision on the relevant governmental response
At present, the Australian national redress scheme and the Victorian State scheme are still open. These are both very relevant to the concerns of former child migrants.
A scheme in Scotland opened in December 2021 which should provide a welcome opportunity for financial redress for those former child migrants who suffered abuse while in care in Scotland before their migration.
The Trust is involved in the final phase of assessing redress payments for the UK government which has been extended for another year to March 2026 as well as actively reviewing all those potentially eligible to submit redress applications in Northern Ireland before this scheme ends in April 2025.
The Family Restoration Fund (FRF) has been financed by the UK Department for Education on an annual basis with capacity for around fifty visits. The cost of visits will vary considerably according to the numbers of those who need to be accompanied by a carer, for example, or those who have many relatives scattered across the UK. The FRF will continue for another year at least.
Forecasting the trends followed by different, newly elected governments is a complex but necessary task. Indeed, the majority of the clients of the Trust are impacted by policy decisions, for example, about whether to hold Inquiries, how to design redress schemes and what level of funding is appropriate for the services offered by the Trust.
Similarly, it is certain that there will be another busy year ahead because the workload will continue to be both varied and demanding. Former child migrants are often facing end of life issues at the same time as applying for redress or contemplating perhaps a final visit to their families overseas via the FRF and need support to manage each of these complex challenges.
As well as new clients coming forward following redress, external factors like the increased cost of living in the UK and restricted public funding will continue to create extra challenges in terms of recruiting skilled staff and providing seamless services, both locally, nationally and on an international basis.
There is also the constant pressure, which increases every year, of delivering services in a timely manner, given the advanced age of former child migrants.
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FINANCIAL REVIEW
REVIEW OF FINANCIAL POSITION AT THE END OF THE REPORTING PERIOD
Once again, Operational funds were received on time, hence liquidity has been stable throughout the year.
RESERVES POLICY AND GOING CONCERN
The Trust has total funds of £199,633 of which £105,801 are restricted funds. The free reserves of the Trust are £93,832 (unrestricted funds less tangible fixed assets). These reserves are sufficient to enable the Trust to maintain its services for about three months.
Consequently, it remains a priority to try to develop its reserves to provide both more continuity and scope for delivering its services in a flexible manner.
RISK MANAGEMENT
The Trustees have a risk management strategy which reviews significant risks and uncertainties faced by CMT and the relevance of its insurance policies.
Apart from key insurance policies, other measures, especially policies and procedures, are reviewed which can mitigate risk. The earlier emphasis on maintaining positive relationships with funders, trying to develop reserves and alternative sources of income still remain a priority.
Recruitment and retention of specialist staff remains a challenge because of the limited numbers of candidates with suitable skill sets.
Previously, the pandemic added to our difficulties by encouraging staff to consider other employment options, resulting in the loss of two staff members. In addition, recruiting certain types of staff frequently proves a major challenge. Therefore, CMT will continue to pursue a variety of different approaches to secure effective staffing levels at each of its three offices.
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THANKS AND ACKNOWLEDGEMENTS
This year thanks must be given again to the staff teams at each of the Z vi te , - A > Trust’s offices in the UK and Australia who have worked with their Oranges customary dedication and professionalism to ensure the continuity of a. ec. * ' our vital services and to enable former child migrants and their family punshineEeS . members to access the full range of the Trust’s services It has been another very difficult year for both staff and particularly for A SHAMEFUL SECRET x ' A MISCARRIAGEOF JUSTICE clients of the Trust, given funding reductions and uncertainties about AGIVEWOMANUP WHO WOULDN'Tte future funding for the Trust’s different services. ~ \ Recognition and thanks are also very much due to the many individual a.” ve y “| ae donors who have helped to boost the reserves as well as to major 3 gr act)! i een ee: funding bodies like the Department for Education for their vital lifeline of support.
Our Trustees, who donate their time and expertise, have all remained in post to provide a further sense of continuity to staff coping with yet another very challenging and busy year.
A wide network of support services, including landlords, printers, cleaners, couriers, utilities and handymen and professional staff, like auditors and lawyers, have also contributed positively to the work of the Trust.
Yet again, to enhance the Trust’s reserves, the International Director, Dr Margaret Humphreys, has kindly donated all royalties from her best-selling book ‘Oranges and Sunshine.’
STRUCTURE , GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
Child Migrants Trust is a Charitable Incorporated Organisation, governed by its Constitution dated 13 January 2016, and is registered with the Charity Commission.
POLICY ON APPOINTMENT AND INDUCTION OF TRUSTEES
As set out in the Constitution, every Trustee must be appointed by a resolution passed at a properly convened meeting of the Trustees, and the appointment must be ratified by a simple majority of the Founding Members.
The Trustees will make available to each newly appointed Charity Trustee, as a minimum, a copy of the CIO’s constitution and copies of previous annual reports.
This year there have not been any appointments of new trustees.
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ORGANISATIONAL STRUCTURE AND DECISION -MAKING
The board of trustees, which can have from 3 to 10 members, manage the affairs of the CIO, and usually meet four times a year. Any decision of the trustees may be taken either at a meeting of the trustees or by resolution in writing or electronic form agreed by the trustees.
The trustees delegate the day to day running of the CIO to the Senior Management Group, usually consisting of the International Director, two Assistant Directors and an Executive Assistant to the International Director.
PAY POLICY FOR SENIOR STAFF
The pay of senior staff is reviewed annually and usually increased in line with inflation. Salaries are set at levels which will attract well-qualified staff, taking into account both voluntary and public sector salaries for similar positions. The Trust does not have any pay gap based on gender.
RELATED PARTIES AND CO -OPERATION WITH OTHER ORGANISATIONS
Two of CMT’s trustees, and three members of the senior management group, form part of the Board of Australian-based Child Migrants Trust Inc. (CMT Inc.), which has an office in Perth and an office in
Melbourne. CMT Inc.’s services mirror those of CMT and is mainly funded by Australian Government and States to deliver those services. CMT’s capacity to make a financial contribution to CMT Inc. for work related to the Family Restoration Fund has been severely impacted by the consistent reduction in its grant from the UK government.
No trustees of either CMT or CMT Inc. receive remuneration or other benefit for their work as trustees.
Signed __________
Hon Alderman Joan Taylor MBE, Chair of Trustees Dated: 21 August 2025
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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF CHILD MIGRANTS TRUST FOR THE YEAR ENDED 31 MARCH 20 25
Opinion
We have audited the financial statements of Child Migrants Trust for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity’s affairs as at 31 March 2025, and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty related to going concern
We draw your attention to note 1 in the financial statements which indicates that the charity has not had confirmation that a significant operational grant will be provided for the period from 1 April 2026 to 31 March 2027. This indicates that a material uncertainty exists that may cast doubt on the charity’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Other information
The other information comprises the information included in the 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 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.
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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF CHILD MIGRANTS TRUST FOR THE YEAR ENDED 31 MARCH 20 25 ( CONTINUED)
The comparative figures are unaudited.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees are responsible for the preparation of financial statements which 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 charity’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 charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
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.
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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF CHILD MIGRANTS TRUST FOR THE YEAR ENDED 31 MARCH 202 5 ( CONTINUED)
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
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Ensuring that the Audit Team had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations, with specific susceptible areas having been outlined at the planning stage.
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Enquiry of management and those charged with governance around actual and potential litigation and claims and fraudulent transactions.
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Reviewing minutes of meetings of those charged with governance.
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
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Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.
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.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report
Other matters
Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) 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.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF CHILD MIGRANTS TRUST FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED)
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed
Rogers Spencer Chartered Accountants Statutory Auditors Newstead House Pelham Road Nottingham NG5 1AP Date 22 August 2025
Rogers Spencer is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted Total |
Unrestricted | Restricted Total |
||
| Funds | Funds Funds |
Funds | Funds Funds |
||
| Note | £ | £ £ |
£ | £ £ |
|
| Income: | |||||
| Donations and legacies | 3 | 2,556 | - 2,556 |
2,667 | - 2,667 |
| Income from charitable activities: | |||||
| Grants and Contributions | 4 | - | 1,086,000 1,086,000 |
- | 540,000 540,000 |
| Other | 5 | 409 | 789 1,198 |
906 | 1,981 2,887 |
| Total income | 2,965 | 1,086,789 1,089,754 |
3,573 | 541,981 545,554 |
|
| Expenditure: | |||||
| Charitable activities | 6 | 19,807 | 1,079,019 1,098,826 |
70,738 | 933,237 1,003,975 |
| Total expenditure | 19,807 | 1,079,019 1,098,826 |
70,738 | 933,237 1,003,975 |
|
| Net income /(expenditure) | (16,842) | 7,770 (9,072) |
(67,165) | (391,256) (458,421) |
|
| Transfer between funds | (18) | 18 - |
(5,637) | 5,637 - |
|
| Net movement in funds | (16,860) | 7,788 (9,072) |
(72,802) | (385,619) (458,421) |
|
| Reconciliation of funds: | |||||
| Total funds brought forward | 110,692 | 98,013 208,705 |
183,494 | 483,632 667,126 |
|
| Total funds carried forward | 12 | 93,832 | 105,801 199,633 |
110,692 | 98,013 208,705 |
All activities undertaken by the Trust during the year relate to continuing operations. There are no acquisitions or discontinued operations during the year.
The notes on pages 23 to 33 form part of these financial statements.
Page 20 of 33
BALANCE SHEET AT 31 MARCH 20 25
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 9 | - | - | ||
| Total fixed assets | - | - | |||
| Current assets | |||||
| Debtors & prepayments | 10 | 1,197 | 7,032 | ||
| Cash at bank and in hand | 242,704 | 306,491 | |||
| Total current assets | 243,901 | 313,523 | |||
| Liabilities Creditors: amounts falling due within |
11 | 44,268 | 104,818 | ||
| Net current assets | 199,633 | 208,705 | |||
| Net assets | 199,633 | 208,705 | |||
| The funds of the charity | |||||
| Unrestricted income funds | 12 | 93,832 | 110,692 | ||
| Restricted income funds | 12 | 105,801 | 98,013 | ||
| Total Funds | 199,633 | 208,705 |
The financial statements were approved and authorised for issue by the Board on 30th January 2023.
Signed on behalf of the charity’s trustees:
Signed Dated: 21 August 2025 Hon Alderman Joan Taylor MBE, Chair of Trustees
The notes on pages 23 to 33 form part of these financial statements.
Page 21 of 33
STATEMENT OF CASH FLOWS AT 31 MARCH 20 25
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Net cash flow from operating activities | 14 | (64,576) | (554,998) |
| Cash flow from investing activities | |||
| Interest received | 789 | 1,981 | |
| Net cash flow from investing actvities | 789 | 1,981 | |
| Net increase / (decrease) in cash and cash equivalents | (63,787) | (553,017) | |
| Cash and Cash Equivalents at 1 April 2024 | 306,491 | 859,508 | |
| Cash and Cash Equivalents at 31 March 2025 | 242,704 | 306,491 | |
| Cash and cash equivalents consists of: | |||
| Cash at bank and in hand | 242,704 | 306,491 | |
| Cash and Cash Equivalents at 31 March 2025 | 242,704 | 306,491 |
The notes on pages 23 to 33 form part of these financial statements.
Page 22 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting policies
General information and basis of preparation
Child Migrants Trust is a Charitable Incorporated Organisation in the United Kingdom. The address of the registered office is given in the charity information on page 2 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102.
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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.
The financial statements are prepared on a going concern basis under the historical cost convention.
Confirmation of funding via the operational grant has been received from the Department of Education for the financial year ending 31 March 2026 but this hasn’t been confirmed for the following year to 31 March 2027.
As a result of the above, continuing as a going concern is reliant on receipt of the annual operational grant. There is uncertainty related to events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business. Assurance have been given that the Trust will be funded next year. However, if its grant is reduced or stopped, clearly significant reductions will need to be made both in terms of staffing and service delivery but the use of reserves and volunteers will enable the Trust to continue at a very basic level.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1.
Page 23 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
1. Accounting policies (continued)
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Donated services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably; this is normally upon notification of the interest paid or payable by the bank or building society.
Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
It is categorised under the following headings:
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which the expenditure arose.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Support costs have been allocated to categories on a basis consistent with the use of resources, which are estimated as being direct costs 57% and support 43%.
Page 24 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
1. Accounting policies (continued)
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the statement of financial activities.
Pension costs
The charity is an admitted body of the Nottinghamshire County Council’s Local Government Pension Scheme (LGPS) which is independently administered. This is a defined benefit scheme and is used for the charity’s employees. Pension costs are assessed in accordance with the advice of the Government Actuary.
Tangible fixed assets and depreciation
Tangible fixed assets costing more than £1,000 are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write down the cost or valuation, less estimated residual value, of each asset on a systematic basis over their expected useful lives on a straight-line basis.
The rates applicable are:
IT equipment 33.33% Phone systems 50% General equipment 33.33%
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.
Provision for open travel applications
A provision is made and included within creditors for open travel applications at the year end.
Fund’s structure
Unrestricted funds are funds which are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 25 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
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
| 2025 | 2024 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||||
| funds | funds | funds | funds | funds | funds | ||||
| £ | £ | £ | £ | £ | £ | ||||
| Sundry donations | 2,556 | - | 2,556 | 2,667 | - | 2,667 | |||
| Income from charitable activities | |||||||||
| 2025 | 2024 | ||||||||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||||
| funds | funds | funds | funds | funds | funds | ||||
| £ | £ | £ | £ | £ | £ | ||||
| Grants: | DfE - section 70 Grant | - | 486,000 | 486,000 | - | 540,000 | 540,000 | ||
| DfE - Family Restoration Fund | 600,000 | 600,000 | - | - | - | ||||
| - | 1,086,000 | 1,086,000 | 540,000 | 540,000 |
4. Income from charitable activities
5. Other income
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| funds | funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | £ | |
| Bank interest | - | 789 | 789 | - | 1,981 | 1,981 |
| Services | - | - | - | 417 | - | 417 |
| Royalties | 409 | - | 409 | 489 | - | 489 |
| 409 | 789 | 1,198 | 906 | 1,981 | 2,888 |
Page 26 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
6. Expenditure on charitable activities
| 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| Note | funds | funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | £ | ||
| Wages, NI & pension | 372,059 | 372,059 | - | 414,570 | 414,570 | ||
| Payroll service | - | 469 | 469 | - | 884 | 884 | |
| Governance costs | 7 | - | 6,230 | 6,230 | - | 11,380 | 11,380 |
| Consultancy | 11,252 | 11,252 | 66,325 | 66,325 | |||
| Recruitment | - | - | - | - | 155 | 155 | |
| Staff expenses | 375 | 50 | 425 | 87 | 639 | 726 | |
| Training | 250 | 595 | 845 | 178 | 866 | 1,044 | |
| Payments to beneficiaries | - | 585,694 | 585,694 | - | 391,726 | 391,726 | |
| Family research | - | 2,602 | 2,602 | 10 | 3,578 | 3,588 | |
| Memberships & subscriptions | - | 2,413 | 2,413 | 30 | 2,765 | 2,795 | |
| Overseas travel | 1,861 | 28,075 | 29,936 | - | 35,184 | 35,184 | |
| UK travel | 4,289 | 7,802 | 12,091 | 1,199 | 10,735 | 11,934 | |
| Rent & rates | - | 26,345 | 26,345 | - | 26,482 | 26,482 | |
| Utilities | - | 8,306 | 8,306 | - | 5,344 | 5,344 | |
| Repairs & renewals | 377 | 4,436 | 4,813 | - | 4,521 | 4,521 | |
| Cleaning & household | 333 | 2,873 | 3,206 | - | 2,596 | 2,596 | |
| Insurance | - | 2,988 | 2,988 | - | 1,848 | 1,848 | |
| Website design & maintenance | - | - | - | - | 68 | 68 | |
| Postage, printing, stationery & | 104 | 10,391 | 10,495 | (240) | 17,615 | 17,375 | |
| telephone | |||||||
| Conferences & events | - | - | 302 | - | 302 | ||
| Hospitality | 620 | 2,589 | 3,209 | 889 | 3,588 | 4,477 | |
| Marketing & publicity | - | - | - | - | 42 | 42 | |
| Office equipment | 364 | 2,236 | 2,600 | - | 2,383 | 2,383 | |
| Bank charges | (30) | 557 | 527 | 40 | 501 | 541 | |
| Loss on currency exchange | 12 | 12,307 | 12,318 | 1,118 | (4,232) | (3,114) | |
| Depreciation | - | - | - | 800 | - | 800 | |
| Rounding adjustment | 3 | 3 | |||||
| 19,807 | 1,079,020 | 1,098,826 | 70,738 | 933,238 | 1,003,976 |
Included in expenditure above are support costs totalling £186,701 (2024: £215,891)
Page 27 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
7. Analysis of governance costs
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| funds | funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | £ | |
| Legal and professional | - | - | - | - | - | - |
| Audit fees | - | 6,230 | 6,230 | - | 6,580 | 6,580 |
| Examination Fees | - | - | 4,800 | 4,800 | ||
| Consultancy | - | - | - | - | - | - |
| - | 6,230 | 6,230 | - | 11,380 | 11,380 |
8. Net income / (expenditure) for the year
Net income / (expenditure) is stated after charging / (crediting):
Net income / (expenditure) is stated after charging / (crediting):
| Net income / (expenditure) is stated after charging / (crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Operating lease rentals | 24,000 | 24,000 |
| Net (gains) / losses on foreign currency | 12,319 | (1,114) |
9. Tangible fixed assets
| Tangible fixed assets | ||||
|---|---|---|---|---|
| IT | Phone | General | ||
| equipment | system | equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2024 | 12,904 | 5,418 | 719 | 19,041 |
| Disposals | (12,904) | (5,418) | (719) | (19,041) |
| At 31 March 2025 | - | - | - | - |
| Depreciation | ||||
| At 1 April 2024 | 12,904 | 5,418 | 719 | 19,041 |
| Depreciation adjustment | (12,904) | (5,418) | (719) | (19,041) |
| At 31 March 2025 | - | - | - | - |
| Net book value | ||||
| At 31 March 2025 | - | - | - | - |
| At 1 April 2024 | - | - | - | - |
Page 28 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
10. Debtors
| Debtors | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Prepayments | 1,197 | 7,032 |
| 1,197 | 7,032 | |
| Creditors | ||
| 2025 | 2024 | |
| £ | £ | |
| Trade creditors | - | 756 |
| Other creditors and accruals | 44,268 | 104,062 |
| 44,268 | 104,818 |
11. Creditors
Included within creditors is £20,000 (2024: £80,000) being the sum of anticipated future commitments.
Page 29 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
12. Fund Reconciliation
| Fund Reconciliation | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| funds | funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | £ | |
| Fixed assets | - | - | - | - | - | - |
| Net current assets | 93,832 | 105,801 | 199,633 | 110,692 | 98,013 | 208,705 |
| 93,832 | 105,801 | 199,633 | 110,692 | 98,013 | 208,705 |
The Department of Education Social Care (DHSC) provided two types of grant funding to CMT following the UK Government's apology to former Child Migrants in 2010. The £6M Family Restoration Fund was established in 2010 to cover the costs of family reunion travel. A further £2M fund was announced in July 2017. It can only be used by former Child Migrants or their relatives for reunion travel. To provide for all the necessary operational costs, including the social work and business support teams to manage and maintain the FRF, the DHSC allocates a section 70 (formerly section 64) grant each year.
The Former British Child Migrants Payments Scheme provides a payment of £20,000 to former child migrants sent overseas before December 1970. The Child Migrants Trust helps to administer this scheme on behalf of the Department of Health and Social Care by advising applicants and confirming their eligibility but is not involved in making the payments. The scheme is in recognition of the potential risks inherent in sending unaccompanied children abroad.
13. Analysis of net assets by fund
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| funds | funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | £ | |
| Fixed assets | - | - | - | - | - | - |
| Net current assets | 93,832 | 105,801 | 199,633 | 110,692 | 98,013 | 208,705 |
| 93,832 | 105,801 | 199,633 | 110,692 | 98,013 | 208,705 |
Page 30 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
14. Reconciliation of net income / (expenditure) to net cash flow from operating activities
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net income / (expenditure) for year | (9,072) | (458,421) | |
| Depreciation charge | - | 800 | |
| Interest received | (789) | (1,981) | |
| (Increase) / decrease in debtors | 5,835 | (7,032) | |
| Increase / (decrease) in creditors | (60,550) | (88,364) | |
| Net cash flow from operating activities | (64,576) | (554,998) | |
| Analysis of net debt | 01 April 2024 | Cash Flow | 31 March 2025 |
| Cash at bank and in hand | 306,491 | (63,787) | 242,704 |
15. Staff costs and numbers
| Staff costs and numbers | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Wages | 314,690 | 361,461 |
| Social security costs | 37,799 | 29,653 |
| Pension | 19,569 | 23,456 |
| 372,059 | 414,570 |
The average weekly number of employees during the year was 8 (2024:6)
The number of employees whose emoluments fell within the following bands:
| £ | 2025 | 2024 |
|---|---|---|
| 90,000 - 99,999 | 1 | 1 |
| 60,000 - 69,999 | 2 | 2 |
| The remuneration of key management personnel is as follows: | ||
| 2025 | 2024 | |
| £ | £ | |
| Aggregate compensation | 159,131 | 158,653 |
Aggregate compensation
Page 31 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
Pensions Disclosure
The CIO participates in the Nottinghamshire County Council Pension Fund (the Fund), which is part of the Local Government Pension Scheme (LGPS). This is a multi-employer defined benefit statutory scheme administered in accordance with the Local Government Pension Scheme Regulations 2013 (the Regulations) as amended, and the share of assets and liabilities applicable to each employer is not identifiable.
The results and assumptions of the most recent valuation of the scheme are as follows:
| ▪ | Valuation Date | 31 March 2022 |
|---|---|---|
| ▪ | Valuation Method | Present value of future |
| cashflows | ||
| ▪ | Value of Assets | £6,498 million |
| ▪ | Value of Liabilities | £6,489 million |
| ▪ | Funding level (assets/liabilities) | 100% |
| ▪ | Funding level (change since previous valuation) | +7% |
| ▪ | Salary scale increase per annum | 3.9% |
| ▪ | Pension increases per annum | 2.9% |
| ▪ | Rate of price inflation (CPI) | 2.9% |
| ▪ | Discount rate | 4.7% |
The valuers report that there are a few important regulatory uncertainties surrounding the 2022 valuation and that, although it is unclear what impact these will have on the future benefits of individual members, they have considered these issues in the assumptions used to set the contribution rates for employers.
The scheme as a whole is in surplus at 31 March 2022 by £9m. As mentioned above The CIO’s share of this cannot be identified and therefore the liability is not included in these financial statements.
If the CIO left the scheme the regulations require that a cessation valuation be carried out to determine the assets and liabilities at closure. If there was a deficit then this would result in an exit charge
Post valuation events
Since the valuation date there has been some very significant movements in the investment markets and largely driven by the COVID-19 crisis. However, the funding model is designed to help withstand short-term volatility in markets as it is a longer-term model and the use of smoothed assumptions over a six-month period ultimately aims to set stable contributions for employers.
Page 32 of 33
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ( CONTINUED )
16. Operating leases
The charity has one lease for premises, which has now expired and is paid quarterly in advance at £6,000 per quarter. The total charge for the year is £24,000.
17. Trustees’ remuneration, benefits and expenses
Trustees received no remuneration or benefits in this period.
Expenses totalling £0 were reimbursed during the year (2024: £0).
18. Related party transactions
The Child Migrants Trust is incorporated as a registered charity in Britain and Australia. Although legally these are two separate organisations, their objectives and policies are synchronised to ensure close cooperation between both agencies. As most former child migrants live in Australia, it is essential to provide local services and to ensure that resources like the Family Restoration Fund (FRF) and the U.K. Government Payment Scheme can be accessed in Australia. Consequently, funds are sent from CMT in the U.K. to CMT in Australia to cover the costs of FRF travel and to cover part of the salary costs of the staff delivering these services.
During the year, Child Migrants Trust paid Child Migrants Trust Inc. £0 (2024: £45,000) in contribution to salaries and wages.
Child Migrants Trust Inc have assisted with the administration of the Former British Child Migrant Payment Scheme during the year. Salary and administration costs totalling £0 (2024: £0) have been incurred by Child Migrants Trust Inc and have been accrued in these financial statements.
At 31 March 2025, Child Migrants Trust owed Child Migrants Trust Inc. £0 (2024: £0).
19. Auditors Remuneration
During the period, the cost of the audit service was estimated at £7,800
20. Control relationships
The ultimate control of the charity lies with the board of trustees who are responsible for the charity’s affairs.
Page 33 of 33