COMPANY REGISTRATION NUMBER: 10415309 CHARITY COMMISSION FOR ENGLAND AND WALES REGISTRATION NUMBER: 1173025 iheart Principles Limited Company Limited by Guarantee Financial Statements 30 June 2025 ,IiiJi "AEY03ZE9' 2610312026 COMPANIES HOUSE HICKS AND COMPANY Chartered Accounlants Vaughan Chambers Vaughan Road Harpenden AL5 4EE
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iheart Principles Limited Company Limited by Guarantee Flnancial Statements Year ended 30 June 2025 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
iheart Principles Llmited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 June 2025 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 30 June 2025. Reference and administrative details Regislered charlty name iheart Principles Limlted Charity Commlssion for England and Wales reglstratlon number 1173025 Company reglstratlon number 10415309 Principal offlco 41 Green Walk London NW4 2AL Reglstored offlce Vaughan Chambers Vaughan Road Harpenden AL5 4EE The truste•$ T Kahan E G Krell Y J Pearlman T A Rubenstein 8 K Rubenstein Appointed 9 May 2025 Appointed 25 February 2026 Independent examinor Hicks and Company Chartered Accountants Vaughan Chambers Vaughan Road Harpenden AL5 4EE Bank Metro Bank
iheart Principles Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continu8d) Year ended 30 Juna 2025 Structure, governance and management The charity is a company limited by guarantee and is governed by its articles and m8morandum of association. The trustees, who are also the directors for the purpose of company law. and who served during the period and up to the date of the signature of the financial statements were: Toby Kahan Ethan Krell Yèhuda Pearlman (appoinled 9 May 2025) Terry Rubenstein Brian Rubenstein (appointed 25 February 2026) iheart recnjit and appoint Irusteas as required. The charity aims to have a minimum of 3 trustees at any given time, but have set an ide81 target of having 5 trustees appointed before the end of the next financial year. If the need for a new trustee appointment arises, the current leadership team (including the charity's founders) and truslees will recommend suitable candidates at the next trustee meeting. Prospective trustees are assessed based upon their commitment to the core purpose of the charity and the mental health educatlon philosophy which underpins the charity's work, as well as other experlence, skills and value they bring. All new trustees are encouraged to allend one of the iheart courses in order lo gain a better understanding of the core purpose of the charity and the approach we take. None of thé truste8s has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of winding up. The affairs of the charity arè governed by th8 Board of Trusteés. They are responsible, with th8 SUPPOrt ofthe CEO and senior management team, for setting the strategic direction of the charity. consideration of reserves, risk management, performance review and affirmlng general organisational policy. Iheart carries out quarterly trustee meetings which are also attended by the CEO. Other meetings occur on an ad hoc basis as required. The strategic direction and key decisions are discussed and debaled and then presented and agreed with the trustees in the quarterly trustee meetings. ObJectlve$ and actlvltles The purpose of iheart Is to relleve ill mental health and to promote and protect good mental health through the provision of courses and workshops in the subjects of resilience and the principles of innate health. The main activity undertaken in relation to the purposes is the educating of young people through prevention-based programmes in mental health education, wellbeing and resilience with a focus on young people aged 9-18 years, The accredited iheart resilience training delivers programmes in schools and other youth settings. and offers facilitator training in the iheart curriculum to teachers and staff in schools and youthlcommunity organisations.
iheart Principles Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢on¢lnu Year ended 30 June 2025 The core objective of the charity is achieved by maximising the delivery of our programmes. The strategies in place to achieve this are.. 1) Training teacherslstaff lo deliver the programme to young people in schools, educational settings. youth groups, community settings etc. 2) The core iheart team delivering the programme to young people in schools and other educational settings through applying for grants and fundraising. 3) Utilising technology to further increase reach. This includes the development of digital programm8S that can be delivered without facilitator input. 4) 1-1 and small group follow up support where required. 5) Support of parents where required. The trustees have paid due regard to guidance issues by the Charity Commission in decidlng what activities the charity should undertake and consider that the activities of the charity have been for the public benefit. Iheart's strategy over the next 12 months will continue to be based on a whole-school approach, meaning training teachers and support staff within schools wher8ver possible. Our accumulated experience has shown us that teachers are often best placed to provide ongoing. suslainable support to their pupils. This approach is also more cost-effective, enabling us lo reach more young people whilst costing less in facilitated delivery cosls. In order to achieve this, we are carrying out the following activities,. Maintaining and further developing key strategic partnerships wlth schools and other orgaiiisations. 2. Applying for grants lo enable the above lo take place. whilst managing exlstlng multi-year grants and donor relationships. Achievements and performan¢• During this period iheart has continued to deliver programmes to young people in schools, other youth settings, and privale groups. Over the past year, iheart continued to increase ils work in schools through undertaking in-house training so thal their staff could be trained and supported by iheart. This is a significant step as it enables Iheart to become embedded and sustainable within the school's own system. Work was undertaken on an age-differentiated curriculum so that pupils in Years 9, 10 and 11 would receive more focused benefit from the iheart prograrnme. The continued and successful roll-out of the ignite digital programme to children aged 8-12, which does not need facilitation or training for teachers, is an important developrnent. The short, impactful programme was designed to solve the problem of lack of timetable Capacity in schools for the full curriculum programme. iheart COT)tinues in its mission to sustainably support young people by atso educats'ng and supporting the adults around them by offering training programmes to reach teachers in schools where feasible. iheart sets out clearly defined fundraising activities and financial targets as part of its overall budgeting each year. The financial affairs of the charity are reviewed at the trustee meetings.
iheart Principles Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continu•dJ Year ended 30 June 2025 We carried out a successful community-based crowd and match fundralsing campaign in January 2025 which proved vital given the tougher climate that we experienced around the availability of grant funding proved vital given the tougher climate that we experienced around the availability of grant funding financial year. Flnancial review For the period ended 30 June 2025 total income was £316.470. Of this figure, £297,110 was received as donations and grants and £19,150 was received from charitable activities. A further £210 was recelved as investment and other Income. Total unreslricted funds carried forward are £127.328. These funds will be used to deliv8r programmes In line with the charity's objectives. All financial matters are discussed at the quarterly trustee meetings including risks to the charity and key strategies to manage and mitigate these. The broader fundraising environment has continued to be challenging over the past 12 months, We have seen that this is true across the charity sector and Is not unique to our organisation. In response. and in order to ensure iheart remains a going concern. iheart has reduced ils expenditure to correlate with reduced fyndraising Income. particularly from grant-rnakers (trusts and foundations). The trustees and management team have implemented this slrategy by deciding nol to replace departing staff members, consolidating posilionslroles and removing other non-essential operating costs wherever possible. The organisation has also elected not to create any new programmes for the time being. We have narrowed the focus of the charity to the primary aclivity of delivering programmes In schools and other educational and community institutions, ensuring that funds raised are used for the primary purpose of the charity, namely wellbeing and resilience programmes for young people and the teachers and parents who support youth. The trustees expect that the charily will be able to meet Its objectives and continue as a going concern. These accounts have Iherefore been prepared on a going concem basis. ReseNes pollcy The charity aims to hold sufficient funds in reserves to cover its short-temi operating costs along with any funds which have been allocated to designated funds.
iheart Principles Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 30 June 2025 Trustees. responsibilities statement The trustees. who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial slatemenls in accordance with applicable law and Uniled Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice). Cornpany law requires the charity truste8S to prepare financial statements for each year which give true and fair view of the state of affairs of the charitable company and Ihe incoming resources and application of resources, including the income and expenditure. for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudént. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charlty will contlnue in business. The trustees.are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charily and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding ihe assets of Ihe charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entilled to the small companies, exemption, The truslees, annual report was approved on 24 March 2026 and signed on behalf of the board of Irustees by: Terry Rubenstein Chair of Truste8s
iheart Principles Limited Company Limited by Guarantee Independent Examlner's Report to the Trustees of iheart Principles Limlted Year ended 30 June 2025 Independent examlner's report to the trustees of iheart Principles Limited ('the Company,) I report to the trustees on my examination of the financial statements of iheart Principles Limlted for the year ended 30 June 2025, which are set oul on Pages 7 to 17. Responsibilities and basis of report As the charity's trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,) Having satisfied myself that the financial statements of the Company are not required to be audited and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the applicable directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Independent examlnerfs statement I have completed my examinalion. I confirm that no rnaterial matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or 2. the financlal statements do not accord with those records., or 3. the financial slalements do not comply with the accounting requirements of Section 386 of the 2006 Act other than any requirement that the financial statements give a tru8 and fair view which is not a matter considered as part of an independent examination., or 4. the financial statements have nol been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charlties preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102)). I have no concerns ar have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Philip D Hicks an mpany Chartered Accountants Vaughan Chambers Vaughan Road Harpenden AL5 4EE 24 March 2026
iheart Principles Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2025 Year to 30 Jun 24 Year to 30 Jun 25 Unrestricted Restricted funds funds Tolal funds Total funds Note Income and endowments Donations and legacies Charitable activities Other income Investment income 274,487 19,150 101 109 22,623 297,110 19.150 101 109. 230,920 80,100 150 180 Total in¢om• 293,847 22,623 316,470 311,350 Expenditure Expenditure on raising funds Expenditure on charitable activities Totsl expenditure 844 241,672 1.163 417.915 9,10 22,623 264.295 242,516 22,623 265.139 419,078 Net incomel(expenditure) and net movement In funds 51,331 51,331 (107.728) Reconciliation of funds Total funds brought forward Total funds carried forward 75,997 75,997 183.725 127.328 127,328 75,997 The statement of financial activities includes all gains and losses recognised In the year. All income and expenditure derive from continuing activities.
iheart Principles Limited Company Limited by Guarantee Statement of Financial Position 30 June 2025 2025 2024 Note Fixed assets Tangible fixed assets 16 2,050 4,338 2,050 4.338 Current assets Deblors Cash at bank and in hand 17 62,642 70,199 59,992 19.903 132,841 79.895 Credltors: amounts falllng due wlthln on• year Net current assets 18 7,563 8.236 125,278 71,659 Total asset$18ss current liabilities 128,048 75,997 Net assets 128,048 75,997 Funds of the charity Unrestricted funds 127.328 75,997 Total charlly funds 20 127.328 75,997 The charitable company is entitled to exemptlon frorn audlt under section 477 of the Companies Act 2006 for the year ended 30 June 2025. The members have not required the company lo oblain an audit of its financial statements for the year ended 30 June 2025 in accordance with section 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for.. ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as al the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable cornpanies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 24 March 2026, and are signe on alf of the board by- Terry Rubenslein Chair of Trustees Company registration number". 10415309
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2025 General informatlon The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Vaughan Chambers. Vaughan Road. Harpenden, AL5 4EE. Statement of compllance These financial statements have been prepared in compliance with the Companies Act 2006, the Charities Act 2011, the Charities Slatement of Recommended Practice (FRS 102). and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Accountlng policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value Ihrough incorne or expenditure. The financial statements are prepared in sterling, which is the funclional currency of the entity. Golng concern In order lo ensure iheart remains a going concem, iheart has reduced its expenditure to correlate with reduced fundraising income. particularly from grant-makers {trusts and foundations). The trustees and management t8am have implementecl this strategy by deciding not to replace departing staff members, consolidating positionslroles and removing other non-essential operating costs wherever possible. The organisation has also electéd not to create any new programmes for the time being. As a result of the cost saving measures undertaken, the trustees consider that the charity r8rn8ins a going concern, Taxatlon The Charity is a registered charity and as such is enlitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of Ihe charity's primary objectives.
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 30 June 2025 Accountlng pollcies {contlnuedJ Judgements and key sources of estlmatlon uncortalnty In the application of the charity's accounting policies, the trustees are required lo makejudgements. 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 dtffer from these eslimates. 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 perlod, or in the period ofthe revision and future periods where the revision affects both current and future periods. Fund accountlng Unrestricted funds are availabl8 for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incomlng re$ourca8 All incoming resources are included in Ihe slatem8nt of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with ihe Iransaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement Is established, income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amount5 are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted seNice. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed rf unspent, in which case it may be regarded as restricted. 10
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements (contInu) Year ended 30 June 2025 Accounting policies (¢ontlnu•d) Resources expended Expenditure is recognised on an accruals basis as a liabilily is incurred and is classified under headings of the statement of financial activities lo which it relates: expenditure on raising funds includes the costs of all lundraising activlties, evenls, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its,beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure Ihal Is neither relaled to ralsing funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attribulable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities Ihey contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangiblé assets are initlally recorded at cost, and subsequently stated al cost18ss any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value al the date of rAvaliiation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, Is recognised in other recognised gains and losses. except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset. less Its residual value, over the useful economic life of that asset as follows: Plant and machinery 250/0 Straighl line Computer equipment 250/0 to 50Yo Straight line Impalrment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds Ihe recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dale. 11
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2025 Accounting pollcies (contlnued) Impairment of fixed assets For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unil to which Ihe asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inllows that largely independenl of the cash inflows from other assets or groups of assets. Flnancial instruments A financial assel or a financial liability is recognised only when the charity becomes a party lo thè contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at Ihe cash or other consideration expecled to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can olherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. other financial instruments, including derivatives, are initially recognised at fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest Ihat is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured al fair value. with any changes recognised in the statement of financial activities relationship. Financial assets that are measured at cost or amort15ed cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under Ihe appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result In a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined Contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised a5 an asset to the extent that the prepayment will lead to a reduclion in future payments or a cash refund. When contributions are not expecled to be settled wholly within 12 months of the end of the reporting date in which the employees render the related sendice, the liabilily is measured on a discounted present value basis. The unwinding of Ihe discounl is recognised as an expense in the period in which il arises. 12
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontinved) Year ended 30 June 2025 Llmlted by guarantee None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2025 Donatlons Donations and gifts 99,487 99,487 Grants Grants receivable 175.000 22,623 197,623 274,487 22,623 297.110 Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donations and gifts 77.219 77,219 Grant8 Grants receivable 144,000 9,701 153,701 221.219 9,701 230,920 Income from charitabla activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 iheart 19.150 19.150 80,100 80,100 Other Incom• Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Royalties Presentation income 101 101 150 150 101 101 150 150 13
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 June 2025 Costs of raising donations and legacies Unrestricted Total Funds Unrestricted Tolal Funds Funds 2025 Funds 2024 Fundraising campaign costs 1,163 1,163 Expendlture on charllable actlvltles by fund type Unrestricted Funds Restricted Total Funds Funds 2025 iheart Support costs 84.259 157,413 84,259 180,036 22,623 241,672 22,623 264,295 Unrestricted Funds Restricted Total Funds Funds 2024 iheart Support costs 45,996 362,218 45,996 371,919 9,701 408.214 9,701 417,915 10. Expenditure on Charltable activities by activlty lype Activities undertaken directly Support costs Total funds 2025 Total fund 2024 iheart Governance costs 84.259 176,436 3.600 259.975 3.600 414,315 3,600 84.259 180,036 264,295 417.915 11. Analysls of support costs Support costs Total 2025 Total 2024 Staff costs Contractors and consultants Office support costs Governance costs Accountancy support costs Bank fees and charges 137.420 137,420 235,943 60,700 64,505 3,600 4.141 3,030 35.305 3,600 1.982 1,729 35,305 3,600 1,982 1.729 180,036 180.036 371,919 14
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontlnugdJ Year ended 30 June 2025 12. Net income Net income is stated after chargingl{crediting)- 2025 2024 Depreciation of tangible fixed assets 2.288 2.464 13. Independent examlnatlon fees Y•3r to 2025 Year to 2024 Fees payable lo the independent examiner for.. Independent examination of the financial statements 3,600 3,600 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans Other staff costs 126,078 10,021 1,321 211,997 18,128 3,540 2,278 137,420 235,943 The average head count of employees under employment contracts during the year was 2 (2024: 7). In the year to 30 June 2025 one (2024.. no) employee received employee benefits In excess of £60,000. The number of employees fell into the following bands". 2025 number 2024 number £80,000 to £89,999 The total employee benefits of key management personnel for the charity were £88.677 {2024: £95,649), In the year ended 30 June 2024 two employees received statutory redundancy payments amounting to £6.376 (2025.. £nil). 15
iheart Principles Limited Company Limlted by Guarantee Notes to the Financial Statements {contlnu•d) Year ended 30 June 2025 15. Trustees None of the trustees received any remuneration for thelr services as trustees. See note 21 for further information regarding related party transactions. The aggregate of donations from trustees of the charity totalled £1,800 (2024.. £nil). 16. Tanglble fixed assets Plant and machinery Compuler equlpment Total Co8t At 1 July 2024 Additions 6.159 10,387 16,546 At 30 June 2025 6.159 10,387 16,546 Depreciation At 1 July 2024 Charge for the year At 30 June 2025 5,980 97 6,228 2,191 12,208 2,288 6.077 8.419 14,496 Carrylng amounl At 30 June 2025 82 1,968 2,050 At 30 June 2024 179 4.159 4.338 17. Debtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 7.498 1.447 53,697 5,729 1,645 52,618 62,642 59,992 18. Cr•dltors: amounts falling due wlthin one yèar 2025 2024 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 90 4.320 2,895 258 389 4.596 2,851 400 7,563 8,236 16
iheart Principles Limited Company Limited by Guarantee Notes to the Financial Statements (Contlftued) Year ended 30 June 2025 19. Penslons and other post•retlrement beneflts Defined contribution plans The amount recognised in income and expenditure as an expense in relation to defined contribution plans was £1,321 {2024: £3,540). 20. Analysis of charitable funds Unrestrlcted funds At 1 July 2024 At Expenditure 30 June 2025 Income General funds 75,997 293,847 (242,516) 127,328 At 1 July 2023 At Expenditure 30 June 2024 Income General funds 183.725 301.649 {409,377) 75.997 Restrlcted funds At 1 July 2024 At Expenditure 30 Jun8 2025 Income Grants received 22,623 (22,623) At 1 July 2023 At Expenditure 30 June 2024 Income Grants received 9,701 (9,701) 21. Related partles Terry Rubenstein and her husband Brian Rubenslein own all the shares of Resilimy Ltd. Brian Rubenstein is the sole director of Resilimy Ltd as well as Chief Execulive Officerof iheart Principles Ltd. During the year, the charity paid expenses of £1.080 on behaff of Resilimy Ltd (2024.. £48.906). At 30 June 2025 the balance due from Resilimy Ltd to iheart Principles Ltd was £53,547 (2024: £52,467). The charity pald Terry Rubenslein £2,400 during the year ended 30 June 2025 (2024.. £nil) for consultancy work performed outside of her trustee role. In addition, the charity paid £14,400 to Resilimy Ltd to pay for shared operational costs such as rent and facilities. These payments were authorised by the other trustees with Terry Rubenstein taking no part in the decision-making process. 17