Charlty re9istratlon number 1179633 (England and Wale81
THE FEMALE LEAD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025

THE FEMALE LEAD
LEGALANDADMINISTRATIVE INFORMATION
Trustees
C Humby
E Humby
R Humby
A Prophet
R Sandy
(Appointed 14 August 20251
IAppointe(114 August 20251
Charity numb•r
1179633
Prlnclpal address
54 Sheffield Terrace
LoThJon
United KIn￿10M
W8 7NA
Independent examlner
John H(ward FCA
Azets
2rMI Flwr. Regis House
45 ￿ng Wlliam Street
LONDON
EC4R 9AN
United Kingdom

THE FEMALE LEAD
CONTENTS
Pago
Twslees report
Independent examinerfs report
Stslement of finanoal activities
Balan￿ sheet
Notes to the financAal ststements
7-11

THE FEMALE LEAD
TRUSTEES REPORT
FQR THE YEAR ENDED 31 AUGUST 2025
The Trustees present their report and financial statements for the year ended 31 August 2025.
The Female Lead was formally kn¢)wn as The Edwina Dunn and Clive Humby EdLTr¢abonal Fcun¢Jation.
The financial ststements have been prepar￿1 in arxordaThx the attounb"Ag p)liue¥ sel out in note 1 to the
financial statements and compty with the Charilable Incorporated Organisation's goveming document, the
Charities Act 2011 and "AcGotJnling and Reporting by Charities. Statement of Recommended Practice applicable
to charrties preparing their accounts in a¢¢ordance wilh the Finanoal Reporting Standard applicable In the UK
and Republic of Ireland IFRS 102)" las amended axountyry perirth commewng from 1 January 20161
Objectives and activities
The Charitable In¢orporaled Organisation's objects are to than￿ sueh charrtable purposes lac(x)rding lo the
law of England and VWdles} as the Trustees see fft from b.me in paitular but not limited lo the advancing of the
education of young people for the public tenefit. by making grants and awards. in particular but not exclus>vely to
lil individual young persons-,
lill educational organisab.ons and projects for young people-
{iiil community development organisations proiets which aim to fijrther the edl￿tion of, SUPFK)rt and ir75pire
young people",
livl arts and sciences organisations and woieds which aim lo further the education of. support and inspire young
people.
The Trustees have pald due regard to gutdance issued by the Charity Crynmlssl¢￿ in de¢Fdir)g what activrties the
Ch8ritsble IncorFK)rated Organisalion should undertake.
The trustees may make grant payments against speoft ￿[la set by the tntstees in accordance ¥Mth the
Charity's objectives.
Achievements and perfom)ance
Global Reach and Impact
The Female Lead continues to grow its cornmunity- we now have 9 million followers. We conts.nue lo work with
partners and educational establishments 10 Showcase diverse and inspiriThJ role models.
Our organi58b.on showcAses comFelling sttyeEling and ￿onee￿ innovab.ve ieseaich and fact-finding inth'atives.
This evidence challenges stereotypes. breaks myth5 and career barriers, and fosters a more inclusive society.
Ils aim remains consistent- to create an environment where women feel empoweted to pursue their amb((ions
and reach their full ecOn￿1C and societal wtentsal.
Despite operating during challenging ecorM)mic trmes. we are delighted lo have SeC￿red a long-terrn partnership
wf(h a major retsiler. Our ground-breaking work is fc¢used on the menopause. Our research study has revealed
what womèn need from employars during this ph3S8 of their lives. The research a150 helps the retailer lo improve
its product range and seTvices for customern.
AdvoGTr¢y 4*nd Policy Influ•n¢•
The Female Lead serves as a digitsvpubtishing platforni that amplrfies the voK*s of millK)ns of women at every
age and stage, highl￿ghts.￿g their needs. wants. and experiences. The insights we gather frtyn the 9 million
community shape our thinking and help us to inform *JbJre poliue5 and pro￿sses. These insights help lo shape
meaningfLJI change so that leaders and organisath.ons ￿ adapt lo and engage vrith their workforce of the future.
We are pleased to have partner5 and Stakeholders that continue lo help us work towards more diverse and
balanced representation lo ensure that all voices are heard. Current projects include research and
campaigns that are based on The Money Gap arKI how lo educate and empower women who have long been
prevented from tsknng an acts.ve or invesJ"ng role in the finanGial rxjmmunrty.

THE FEMALE LEAD
TRUSTEES REPORT (CONTINUED
FOR THE YEAR ENDED 31 AUGUST2025
Educational Impact
All educational resources (print atmj digttall are devek)ped by The Female Lead. indudsng Iwo published boDks
and films. These are distributed free of charge to schools globalty, wilh parhcular emphasis on institutions in the
United kn"ngdom and the United States. maintain a strong preserKe 8cros5 secondary schools, colleges, and
universities.
The charity's educatMal campaign operates thrO￿h RISE ovmed and manage(1 by The Female Lead. This
focus is direct interadion with our educator ne￿k and a once in a year event called Inspiring Careers. Our
RISE programme presents powerful reSoUr￿S designed by women for girts. While not part of the fixed
curriculum, our term-focused r8sourcÈs stimutatè dèbate and leadership dèv8lopment. helping students to
anliGipate and overcome barriers presented by soual media and other societal or work pressures. We continue
to provide students in our 11>12 Ambassador schools, with speual in person evenls which remain hugely
popular. These include vI￿ts to galleries and theatres.
In 2026, we successfijlly hosted our Ihird 'lnspiring Careers of the Fubjre. event. Previou5 events have been held
in London and we were delighted to host a techrjokoy and Al fcKused event in Cambridge this year, in
conjunth.on wth the Centre for compukn.ng Histw.
Pub118hlng and Digitsl Engagement
Our subscriber base, launched in late 2023 offers free and premium content and has r￿W expanded lo over
32,000 subscribers. Our content strategy f￿SeS on six key Pillars of FulfilmenL Setf. Relationships. Health.
Work, Money, and Society.
Our Fulfilmenl Finder Survey uses a neuroscience apwoach to measure motNab"on and emotional drivers that
influenGe women's wod(-lrfe balance. This continues to prowde rich dats and insights. To dale. this survey has
collecteta over 150,000 rich survey responses. The survey is free but a customised enterpnse version is available
to organisalions wanted to explore salisfadion and motivation levels wthin their workfoffje. The insights give
leadership teams a clear understanding of women's needs and expectations in the workplace.
Trustees
Two additional independent trustees were appointed to the Board in August 2025. The new trustees wll bring
addrtional expertise to the Board and are committed to ensuring that the operntion of the tharity is in line with our
Charitatrile status.
Future Directlons
Looking ahead, the Trustees are committed tr) builrfing these athievements by..
1. Continuing to share original, impacttul content
2. Strengthening engagement with our dedicated and highly engaged communty
3. Developing strategic partnerships V￿th or9anisab"on5 to extend our reach and influen
The Tru¥tees express their sin(we appre￿ation to all slaff. Volunt￿$, partner8, and supporters who have
contributed to another s￿￿$$fijI yearfor The Female Lead.
Financial review
During the year, the CIO had lotal incoming resources of £94,505 {2024.' £111,108}. The CIO incurred direct
expenditure of £44,57212024". £31.6171. in relation to frjrthering the Female Lead project, through the distribution
of books to schoots, research and development of the Fulfilment yJrvey.
11 is the policy of the Charitable Incorpofaled Organisation that all fvnds held by Ihe charity are unieslriGted and
may be applied to any of it5 charitable activrties. The Tru5tee5 COn5i(ler the reserves will ensure that. in the event
ul cl slyiiilli<llll Uiok> Iii fuiiuiiiu, Iiivy will L)¥ dtiie Iu (X>llliiiue me GnaritaDie Incofporaeo organi2+aiiuii.s cuiieiTri
activities while consideration is given lo ways in whith addibonal fiAnds may be rased.

THE FEMALE LEAD
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Structure, govemance and management
The Chariiable IncorpK)rated Organisation is omtrolled by its goveming documenL a deed of trust, and
constitutes a Charitable In￿rpIxated Organisation.
The Trustees who served durirMJ the year arKI up to the date of ￿gnatUre of the financbal statements were..
C Humby
E Humby
R Humby
A Prophet
R Sandy
IApp)inted 14AuW 2025)
IApFM)inted 14AuW 2025)
Recruitment and appointment of trustoes
Appointment for fixed tem".
apart from the first charity trustees. every trustee must be apwjinted for a tem) of three years by a
resolution passed at a properfy convened meeting of the charity trustees
in selecting indivtdsjals for apwntment as chanty trustees, the charity trustees must have regard lo the
skills, kn￿￿edge and experience needed for the effective administration of the CIO
How dgclslons arn rnado
Any decision may be taken either".
at a meebng of the chanty trustees
by resolub.on in writin9 or elethonic form agreed by a rna1￿￿ of all of the ¢harty trustees. which may
mprise either a single d￿Ument or several documents (x)nlaining the text of the resolution in like form
lo which a majortty of all of the charity trustee5 has 5igntfied th￿r agreement. Such a resolution shall be
effective provided that..
{al a copy of the proposed rv4Olut￿ has tr￿en senL at or as near as reasonably practicable to the sarne
lime. to all of the ¢h8rity twslees". and
{bl the majorty of all of the charity twstees has signffied agreement to the resolut*)n in a document or
documents which has or have been authenticated by their signature. by a statement of their identity
accompanwng the doojment or d¢￿Ments. or in such other manner as the tharity trustees have
previously resolved. and delivered lo Ihe CIO 8t rts prinopal Offi￿ or such other place as the tnjstees
may resolve.
Going concem
The Trustees are very confident that income and donations wtll be forthcoming aThJ much more substantial in this
coming year Thi5 forecast is based on the development of parthership twls and capabilities that unlock value
for a variety of major corporatsons. The chariVs key assets and guiding principles wll of course be maintained at
all times.
In the interim, the Trustees are Committ￿ to supporbThJ the finanoa ne￿ of the eharity guaranteeing that il
remains finantsally viable until that irKcvne is ￿￿￿[med.
The Trust
rt was approved
the Board of Truste&8.
E Humby
Trustee

THE FEMALE LEAD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FEMALE LEAD
I report to the Trustees on my examination of the financial stslements of THE FEMALE LEAD {Ihe Charitable
Incorporated org8nis8tionl for the year ended 31 August 2025.
Responslbllltles and basis of report
As the Trustees ol the Charrtable Incorporaled Organisabon you 8re resw)nsible for the preparation of the
fin8n¢tal ¥lalemen15 in acy))rdance the requirements of the Charibes Acl 2011.
I report in respect of my examination of the Charitable Irwporaled Organisation's fin8ncAal stslemenls carried
out under section 145 of the ch8rits.es Act 2011. In carrying oul my examination I have followed thè Dirèctions
given by the Charity Commission undgr sethon 145151{b} of the Charities Act 2011.
Independent examinerfs ststement
Your attention is drawn to the fact that the charity has p￿pared the finan￿￿ statements in accordancè with thè
relevant version of the Statement of Recommend*J Praciice applicable to tharrties preparing their financial
statements in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 in preference to the A￿oUnting and Reporting by Chartbes". Statement of Recommended Practice
issued on 1 April 2005 whith is ￿ferred lo in the extant regulations but has now been wrthdrawn. l understand
that this has been done in order for the financial statements to provide a true and fair view in accordance with
UK Generally A￿pIed Ao¢ounting Prnth"￿.
I have complel8d my examination. I Confi￿ that no matters have come to my attention in connection wlh the
exarnination giwng me cause to believe that in any malertal respect..
accounting records were not kept in resFett of the ChaTitaNe Incorporated Organisation as required by
seGlion 130 of the Charitses Act 2011.
the financial statements do not accord wth those records,. or
the finanaal slalements do not comply wrth the applicable requirements t￿n¢eMIng the fomi and content
of financial statements sel out in the charib.es (Acujunls and Rerk)rtsl Regul*ions 2008 other than any
requirement that the financial Ststeft￿ts give a In￿ and tair vw. ￿tch is not a matter ￿nsidered as
part of an independent examinth"on.
I have no concems and fwe Come atxoss no other mattets in connection wth the examination lo which
attention should be drawn in this report in order to enable a prO￿r understanding of the financia5 statements lo
be reached.
John Howard FCA
Azets
2nd Floor, Regis House
45 King Wlliam Street
LONDON
EC4R 9AN
Unf(ed Kingdom
Dated.. 28 May 2026

THE FEMALE LEAD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
Unrestricted
fund5
2025
Unrestricted
funds
2024
Incomo and endowmgnts from:
Donations and legaues
Other income
18
94,489
52.327
58.781
Total income
94,505
111,108
Expendrture on:
Charitable activities
469.066
425,072
Total expendlture
469,066
425,072
Not expendlture and movement In funds
1374,5611
{313,%41
Reconciliation of funds:
Fund balances at 1 September 2024
1566,8661
1252,9021
Fund balances at 31 August 2025
(941,4271
{566,8661
The statement of finanual activities indudes all gains and losses rethjnised in the year. All income and expenditure
derive from continuing activiti.es.

THE FEMALE LEAD
BALANCE SHEET
ASAT31AUGUST2025
2025
2024
Notes
Flxed assets
Investments
Current assets
Debtors
Cash al bank and in hand
4.600
3.854
10,869
15,810
8.454
26,679
Creditorn: amounts falling due within
one year
10
{949,882)
1593,5461
Net current Ilabllltlgs
{941.428}
1566,8671
Total assets less current liabilities
(941,427)
1566,8661
The fund5 of the Charitable Incorporated Oryanlsalion
UnreslriGted funds
{941.4271
1566.8681
(941.4271
1566,8661
Thefi
ments were apwo
I￿.9.5.1.￿).l
by theTn￿1ees0n... ...
E Humby
Trustee

THE FEMALE LEAD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST2025
Accounting polici
Charity infonnation
The Female Lead, fomially knovm as The Eth￿n8 Dunn and Clive Humby Education81 Foundation, is a
Charitable Incorporated Organisabon ICIOI.
1.1 A¢¢ounting Gonvention
The finanoal ststements have p￿pared in accordarKe V4i(h the Charitable Incorporated Organisation's
governing do¢ument, the Charrties Act 2011 and "Accounting ana Reporting by Charities." Statement of
Re¢ommended Practice applicable to tharrties preparing their accounts in accordan￿ with the Financial
Reporting Standard applicable in the UK and Republic of Irdand IFRS 1021. las amended for a¢￿untIng
periods commencing from 1 January 20161. charitat￿ 1r￿Orror8ted Organisation is 8 Public Benefit
Entity as defined by FRS 102.
The Ch8rit8ble Incorporated Organisabon has taken advantage of Ihe F>row￿on¥ in the SORP for charities
ap￿YIng FRS 102 Update Bulletin 1 not to wepare a Statement of Cash Flows.
The financial statements are prepared in stsrfing. wthich is the ftjnctional currency of the Charitable
Incorwrated Organtsation. MorEtary amounts in thes8 finanual statements are munded to the nearest £.
The financi￿ slalemenls have been wepared under the historical cost convention. The prinapal accounting
policies a(knpled are set out bekhv.
1.2 Golng concem
Al the b'me of approving the financial ststemenls, the Trust￿ have a reasonable expectation that the
Charrtable Incorporated organisats.on has adequ8te resources to ¢oth"nue in opErab"onal existeftce for the
foreseeable fvture. Thus the Trustees iJ)ntinue lo adopt the going o)n¢em basis of accounting in preparing
the finanaal stalemenls.
The Trustees are very confident that irthme and donations will be forthcoming and much more substantial in
this coming year. This forecast is based on the development of partnership tools and capabilities that unlock
value for a variety of major cwtions. The key assets and guKling prinuples wll of course be
rnainlained al all b'mes.
1.3 Charitable funds
Unreslricled funds are avaitable for use at the discretion of TTUStee5 in fvrtherance of their charitsble
objectives.
1.4 Incoming resources
Income is recognised V*tsn the Chantab]8 Organisation is legally entiued to it after any
perfomiance conditions have twi met. the amounts can be m&wred reliabfy. and it is probable that income
will be received.
Cash donations are rewgni5ed on receipt. Other donat￿nS are recognised On￿ the Charitable Incorporated
Organisation has been notified of the donatson. unless perlomance condrtions require deferral of the amount.
Inctsme lax recoverable in relabon to donth.ons received under GIft￿d or deeds of covenant Is recognised al
the lime of the donatson.
1.5 ResoU￿e$ expended
Liabilities are recogllised as expendrture as soon as there is a legal or constructive obligation committir*g the
ch8nty to th8t expenditure, rt 1$ probable that a transfer of ecor￿MiC beneffts will be required in Settlement and
thg gmount of thg obligation can be measured relSably Expenditurè is ac￿jntÉd for on #n $ecruals basis 8nd
has been classified under headings that aggregate all cost related to the category. Where costs CAnnol be
directly attributed to partiojlar heading5 they have been allocated to adivibes on a basys consistent wlh the
USÉ of resourw.

THE FEMALE LEAD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2025
Accounting policies
Icontlnuedl
1.6 Flxed asset Investments
A subsidiary 1$ an entrty controlled by the Chartable 1nc0rpc￿aled Organisation. Control is the power to govern
the financial and operating poliaes of ￿ entsty so as to obtain benefits from rts 8Ctivrties.
1.7 Forelgn exchange
Transactions In currencies other than pounds steFling are recorded at the rates of exchange p￿vallIng at the
dates of the Ir8ns8Ctions. Al each rerK)rting ermj date. rnor￿ry a&8ets and liabilities that are denominated in
foretgn eurrenoes are ￿translated at the rates prevailing On the ￿Ports"ng end dale. Gains and losses arising
on translation are induded in ￿t irwmeJlexpendilure} for the pen(xJ.
Donations and legacies
Unrestrlcted Unrestricted
fund$
funds
general
general
2025
2024
tlonations and gifts
16
52,327
Other Income
Unrestrlcted Unrestricted
funds
funds
general
general
2025
2024
other incom&
Book sales
35,569
58.920
46,459
12.322
94,489
58.781

THE FEMALE LEAD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2025
Charitsble activities
Dlrect
Costs
2025
Dlrect
Costs
2024
Photography and kxinting costs
Consultancy Costs
12.955
31.617
11,617
20.000
44,572
31.617
Share of ￿JPPort costs (see Tr)te 5}
sha￿ of govemance costs (see note 5)
333,814
90,880
231,029
162.426
469,lJ66
425.072
Support costs
Support Governance
¢osts
2025Supwt ￿sts Govemance
costs
2024
staff costs
Travel and transport
osts
Computer costs
Sundry costs
Bank charges
Advertising costs
304,177
304.177
205.995
205,995
2.422
18.803
1,560
157
2.092
2,422
18.803
1.560
157
2,092
18.801
4,697
1.805
3,485
18,801
4.697
1,805
3.485
Leg81 and professional
Accountsncy fee5
81.830
81.830
8.850
154.381
8.045
154.381
8.045
333.814
90.680
424.494
231,029
162.428
393,455
Tru$tee$ rgmuneratlon and beneffts
Norbe of the TnJstee5 {or any persons conneded with them) received any remuneration or benefits from the
Charitable Inccvporated Organisation during the year.
Employoes
The average monthty number ofempw during the year was..
2025
Number
2024
Numbèr
Employees

THE FEMALE LEAD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Employees
Icontlnuedl
Employment costs
2025
2024
Wages and salaries
Social security cost5
Other pension cost5
274,350
23,711
6,116
186,260
15,378
4,357
304,177
205,995
During the finanu81 year th￿ vme employeeswh05e annual remuneratK)n Wds £60.000 or more.
Flxed asset investments
Other
Investments
Cost or valuatlon
Al 1 September 2024 & 31 August 2025
CarryÉng anx)unt
At 31 August 2025
At 31 August 2024
2025
2024
other investmenls comprise".
Notss
Invesknents in subsidiaries
12
Debto
2025
2024
Amounts falling due within one year.
Other debtors
4,600
10,869
10 Greditors: amounts lalling due within one year
2025
2024
Amounts owed lo SUb￿.diary undertaknn
Other credrtors
Accruals and deferred inwme
2,082
940.000
7.81X)
6,091
580.000
7.455
949,882
593,546
io-

THE FEMALE LEAD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
11 Related party transactions
During the year, the Charity drew down a lotsl of £360.00012024: £300,000) in loans from Mrs E D Humby,
who is a trustee. The loans are interest free and repayable on the eadier of {1) the second anniversary of the
agreement dat8s. or lill on an exit.
During the year, the Charity pakl £59.400 12024." £108.9001 for services from Rhomu Limited, a Company
connected to a Trustee. These services We￿ prowded on an arms-length basis under Rhomu's Gharity rate.
12 Subsidlarles
Female Lead Enterprises Ltd is a private limited company. registered number 13766608. The company was
incorporated or* the 26 November 2021 and 100% of the £1 Ordinary share capital Is owned by The Female
Lead_
At the year end 31 August 2025, the accounts have Tr)t been cc￿s011d*ed into the accoun15 of The Female
Lead due to the subsidiary not bein9 material.
The subsidiary's year end is 31 AugLESt 2025, aThY the followng was noted".
Profil and LossAccounl
Turnover
Cost of sales
Administration expenses
59,000
10)
Profft for the financial period
35.569
The subsidia￿$ net a55ets as at 31 August 2025 are £1.
11