**Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** **Report to the trustees/** Charity Name The MaxEm Trust **members of On accounts for the year** 31 Dec 2025 **Charity no** 1172867 **ended (if any) Set out on pages** 1-14 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31 / 12 / 2025** . **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. * _Please delete the words in the brackets if they do not apply._ |**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body**
**(if any):**
**Address:**|MarkTaylor|13 May 2026| |---|---|---| |||| ||Mark Taylor|| |||| ||ICAEW|| |||| ||HW Fisher Professional Services Limited, Acre House|| ||11-15 William Rd, London|| ||NW1 3ER|| 1 **IER** |**THE MAXEM TRUST**|**THE MAXEM TRUST**|**THE MAXEM TRUST**|**1172867**| |---|---|---|---| |**Receipts andpayments accounts**|||| |**For the period**
**from**|Period start date
01/01/2025|**To**|Period end date
31/12/2025| ## **CC16a** **For the period** Period start date Period end date **To from** 01/01/2025 31/12/2025 |**Section A Receipts and payments**|**Section A Receipts and payments**|**Section A Receipts and payments**|||||||| |---|---|---|---|---|---|---|---|---|---| |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**||**Restricted**
**funds**
**to the nearest £**||**Endowment**
**funds**
**to the nearest £**||**Total funds**
**to the nearest £**||**Last year**
**to the nearest £**| |Donations|**40,000**||**-**||**-**||**40,000**||**29,000**| |Gift Aid|**-**||**-**||**-**||**-**||**35,017**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**_(Gross income for_
_AR)_|**40,000**||**-**||**-**||**40,000**||**64,017**| ||||||||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| ||**-**||**-**||**-**||**-**||| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**|**-**||**-**||**-**||**-**||**-**| |**_Total receipts_**
**A3 Payments**|||||||||| ||||||||||**64,017**| ||||||||||| |Legal fees|**1,367**||||||||**1,302**| |Independent examination|**2,101**||||||||**1,978**| |Insurance|**374**||||||||**363**| |Donations|**45,000**||||||||**33,862**| ||**-**||||||||**-**| ||**-**||||||||**-**| ||**-**||||||||**-**| ||**-**||||||||**-**| ||**-**||||||||**-**| |**_Sub total_ **|**48,842**||||||||**37,505**| ||||||||||| |**A4 Asset and investment**
**purchases, (see table)**|||||||||| ||**-**||||||||| ||**-**||||||||| |**_Sub total_ **|**-**||||||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||||| ||||||||||**37,505**| ||||||||||| ||**- 8,842**||**-**||**-**||**- 8,842**||**26,512**| ||**-**||**- **|
|**-**||**-**||**-**| ||**28,246**||**-**||**-**||**28,246**||**1,734**| ||**19,404**||**-**||**-**||**19,404**||**28,246**| CCXX R1 accounts (SS) 12/05/2026 2 ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
Signed by one or two trustees on
behalf of all the trustees
**B1 Cash funds**
**B2 Other monetary assets**
**B3 Investment assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**|(agree balances with receipts and payments
account(s))
**Details**
Current account
Deposit account
**_Total cash funds_**
**Details**|(agree balances with receipts and payments
account(s))
**Details**
Current account
Deposit account
**_Total cash funds_**
**Details**|**Unrestricted**
**funds**
**to nearest £**
**19,404**
**-**
**-**
**19,404**
OK
**Unrestricted**
**funds**
**to nearest £**|**Unrestricted**
**funds**
**to nearest £**
**19,404**
**-**
**-**
**19,404**
OK
**Unrestricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
OK
**Restricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
OK
**Restricted**
**funds**
**to nearest £**|**Endowment**
**funds**
**to nearest £**| |---|---|---|---|---|---|---|---| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||OK| ||||||||**Endowment**
**funds**
**to nearest £**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||||**-**||**-**||**-**| ||**Details**||**Fund to which**
**asset belongs**||**Cost (optional)**||**Current value**
**(optional)**| ||||||**-**||**-**| ||||||**-**||**-**| ||||||**-**||**-**| ||||||**-**||**-**| ||||||**-**||**-**| ||**Details**
**Details**
Signature
Rayhan Davis||**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name
13 May 20||||**Current value**
**(optional)**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**When due**
**(optional)**| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||Date of
approval| ||Rayhan Davis||13 May||||26| ||||||||| CCXX R2 accounts (SS) 12/05/2026 3 ## **Trustees’ Annual Report for the period** **From 01/01/2025 Period start date To Period end date** ## **31/12/2025** ## **Charity name: The MaxEm Trust** ## **Charity registration number: 1172867** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The objects of the charity are for the public
benefit:
1. to advance education; and
2. to help young people advance in life
through providing support to develop their
skills, capacities and capabilities to enable
them to meet their needs and participate
fully in society;
in particular, but without limitation, among
those who by virtue of any kind of social
disadvantage may have reduced prospects
of entering and flourishing in higher
education and beyond.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|The charity assists young people who are
socially disadvantaged by providing them
with :-
Mentoring and guidance from a select
group of individuals (volunteers), primarily
from the business sector, to help equip
them with the skills, competence and
confidence to thrive at university, and
eventually to enter and thrive in their chosen
field after graduating;
Financial assistance if relevant to help
remove practical barriers to studying at
higher education institutions.
The benefits of the organisation, which are
closely linked, are:
1. Giving individuals from disadvantaged
backgrounds the chance to access higher
education, so that lack of social confidence,
or lack of resources or support do not form
barriers to effectively completing higher
study and pursuing successful careers, and
so that these individuals are not at a relative
disadvantage
to
those
from
more
advantaged backgrounds.
2. By virtue of (1) above, bringing about
greater equality, diversity| |||and social mobility in higher education –
and, ultimately, in the professional and
business sectors which the beneficiaries will
enter after their education. The benefits of
diversity
to
educational
institutions,
workplaces and society as a whole are
widely acknowledged.| |---|---|---| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees confirm that they have had
regard to the guidance issued by the Charity
Commission on public benefit.| ## **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**Since the inception of the Promentor**
**Programme, the University’s Careers**
**Service has played an integral part**
**helping**
**students**
**from**
**low**
**income**
**backgrounds access alumni mentoring**
**opportunities and internships, as well as**
**careers support more generally.**
**2025 will be the final year of operation of**
**the Promentor Programme, as the**
**University’s Career Service will fund the**
**alumni mentoring scheme set up by the**
**Programme though alternative sources.**
**A summary of the main achievements of**
**the Promentor Programme are below:**
**1.**Since 2018 the Programme has
supported 10 students per year from
low socio-economic backgrounds to
establish
mentoring
relationships
with
a
range
of
experienced
professionals.
In
2023/24,
it
expanded to include Foundation
Year students for the first time.
**2. Programme Aims**
The programme combined targeted
mentor
matching
with
strategic
outreach to support and engage
students
from
underrepresented
backgrounds and match them with
an
experienced
professional
interested
in
mentoring.
The
programme was aimed at students
who came from backgrounds with
fewer connections in their areas of
career interests with the aim of:
•Building confidence and fuelling
motivation to pursue their desired
career path.
•Offering the mentees expert insight
from those currently within the
industry;
increasing
the
understanding
of
a
particular
sector/organisation/job role.
•Presenting
the
opportunity
to
cultivate and enhance important
employability skills.
•Opening
up
networking
opportunitiesand interested alumni
are also invited.| |**3.**|**Key Features**| |---|---| ||•Mentor Introductions: Students were| ||introduced to two established Oxford| ||alumni in their fields.| ||•Travel Support: Option to reimburse| ||travel costs for visiting mentors at| ||their workplaces.| ||•Participatory
Award:
Students| ||received an annual award for full| ||engagement.| |**4.**|**Programme Highlights:**| ||•80 students participated in the| ||programme.| ||•114 alumni mentors were matched| ||with students.| ||•75+ alumni engaged with the| ||programme overall.| ||•80+
participants
joined
the| ||dedicated
Promentor
LinkedIn| ||Group.| |**5.**|**Impact of Programme**| ||The Programme, whilst targeting a| ||small cohort of students, has had a| ||significant and lasting impact on the| ||students who participated in a| ||number of ways:| ||**Career Exploration & Networking**| ||•Mentees
have
gained
direct| ||exposure to careers and industries| ||otherwise inaccessible online.| ||•They
have
had
access
to| ||professional
networks
through| ||alumni connections.| ||•They have gained clarity on career| ||paths,
enabling
focused
goal-| ||setting early on.| ||**Skill Development & Confidence**| ||**Building**| ||•Improved
self-esteem
and| ||“professional
presence”
by| ||engaging
with
established| ||professionals.| ||•Enhanced
time
management,| ||networking, and decision‑making| ||abilities.| |**Academic**
**&**
**Professional**| |---| |**Guidance**| |•Help
with
selecting
options,| |internships, and refining CVs or| |applications.| |•Tailored advice aligned to mentee-| |specific academic journey and| |goals.| |**Long-Term**
**Support**
**&**| |**Empowerment**| |•Many
of
the
mentee/mentor| |relationships
have
continued| |beyond
the
official
terms
—| |evolving into long-term support.| |•Alumni involvement fosters a| |lasting community around widening| |participation.| |The Programme has been key in| |supporting students in building| |professional networks. This has| |been crucial for this cohort of| |students as many do not have| |access to industry contacts through| |family or social circles.| |Feedback from the programme has been| |excellent from both the mentors and| |mentees, with 100% of mentors agreed that| |the programme met their expectations. For| |the
mentees
100%
agreed
that
the| |programme
helped
them
think
about| |employability and fueled their motivation to| |pursue their desired career path with| |confidence and 94% agreed that the| |programme offered expert insight into their| |chosen
industry,
increasing
their| |understanding of a particular sector /| |organisation / job role. 97% agreed that the| |programme allowed them to reflect on and| |cultivate their employability skills and agreed| |that the programme opened networking| |opportunities.
97%
agreed
that
the| |programme met their expectations, 94%| |agreed that mentoring partnerships were a| |good match and would consider being a| |mentor in the future.| |In light of the University taking the Promentor| |Programme initiative in-house, the Trust will| |be looking to establish an alternative path to| |supporting
students
from
low
socio-| |economic backgrounds going forward. This| |will most likely take the form of bursaries to| |support the accommodation and living| |expenses for lower-income students.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Achievements against
objectives set|Para 1.41|| |Performance of fundraising
activities against objectives
set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|**The charity had approximately GBP**
**19,404 on account at the end of**
**December 2025.**| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**The charity currently operates a surplus,**
**and is expected to continue to do so in**
**perpetuity.**| |Amount of reserves held|Para 1.22|**The charity had approximately GBP**
**19,404 on account at the end of**
**December 2025.**| |Reasons for holding zero
reserves|Para 1.22|**Reserves are not required**| |Details of fund materially in
deficit|Para 1.24|**None**| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**None**| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|**Constitution**| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Charitable Incorporated Organisation**
**(CIO)**| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Appointed by the Board of Trustees**| ## **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|| |Relationship with any
related parties|Para 1.51|**During the year charity received**
**donations of £40,000 (2024: £29,000)**
**from trustee Rayhan Davis without any**
**conditions.**| |Other||| ## **Reference and Administrative details** |Charity name|The MaxEm Trust| |---|---| |Other name the charity uses|| |Registered charity number|1172867| |Charity’s principal address|C/O Sedulo London Office 605
Albert House
256 to 260 Old Street
London
United Kingdom
ECIV 9DD| ||| **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Rayhan Davis|C/O Sedulo London
Office 605, Albert
House256 to 260
Old Street, London,
United Kingdom,
ECIV 9DD|Acted for the whole year|| ||Katrien Gunst|C/O Sedulo London
Office 605, Albert
House256 to 260
Old Street, London,
United Kingdom,
ECIV 9DD|Acted for the whole year|| ||Frewyeni Kidane|University of Oxford
Development Office,
University Offices,
Wellington Square,
Oxford, OX1 2JD|Acted for the whole year
but resigned as trustee
on 19thMarch 2026|| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – Corporate trustees names of the directors at the date the report was approved ## **Director name** Name of trustees holding title to property belonging to the charity **Trustee name** **Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Type of**|**Name**|**Address**| |---|---|---| |**adviser**||| ## **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)** Ra han Davis y **Full name(s)** Rayhan Davis **Position (eg Secretary,** Chair **Chair, etc) Date** 13 May 2026