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2025-08-31-accounts

Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

Charity number: 1183124

Trustees’ report and financial statements for the year ended 31 August 2025

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

The Talent Tap

Contents For the year ended 31 August 2025

Reference and administrative information 3
Trustees’ annual report 4 - 9
Independent examiner’s report 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 – 22

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

The Talent Tap

Reference and administrative information

For the year ended 31 August 2025

Charity number 1183124 Country of registration England & Wales Registered address 158 North Road Combe Down Bath BA2 5DL Trustees Trustees who served during the period and up to the date of this report were as follows: Rupert Barton Taylor (Chair) Julia Kate Licudi (Appointed November 2025) Jessica Mollie Lythgow (Appointed October 2025) Matthew James Brennan (Appointed October 2025) Laura Alexandra Boyle Muir (Appointed October 2025) Christopher Michael Donkin (Appointed October 2025) Roger Evert Rijkelt Kempnik (Appointed October 2025) Alix Williams Sunil Mashari Rob Willis Aicha Zerrouky (Resigned September 2024) Rituja Rao (Resigned January 2025)

Bankers Barclays Bank Plc 1 Churchill Place London E14 5HP Independent examiner Mark McLean FCA Thomas & Young Limited Carleton House 266-268 Stratford Road Shirley, Solihull B90 3AD

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

The Talent Tap

Trustees’ annual report

For the year ended 31 August 2025

The Trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the CIO's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The aim of The Talent Tap is to improve social mobility by ensuring that no young person’s access to career opportunities is determined by where they grow up.

Many young people in coastal, rural and other low-opportunity communities face significant barriers to accessing professional careers, including distance from opportunities, lack of networks and the cost of participation. These barriers limit exposure, reduce confidence in what is possible and prevent talented individuals from reaching their potential.

Our objective is to support young people to explore, access and progress into professional careers, by providing fully funded, in-person experiences alongside sustained support over time.

We work with young people at key transition points between education and employment, helping them to:

We prioritise depth of impact over breadth of reach, working with fewer young people but supporting them more intensively over a longer period to achieve meaningful outcomes.

Our approach is based on a connected pathway , rather than one-off interventions, combining:

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

Activities

The charity works with schools and colleges located in low-opportunity communities, including coastal and rural areas , to encourage students to access The Talent Tap’s programme:

School Outreach Programme (16 – 18 year olds) :

Career-based insight days; Q&As and discussions; employability support; interview experience; opportunity signposting; further education advice; financial bursaries for open day travel; and the opportunity to apply for the Emerging Talent Programme.

Emerging Talent Programme: (18 – 20 year olds):

Yearly 12-day residential work experience programme; career insights; further education insights; confidence building workshops; public speaking training; networking sessions; social experiences; one-to-one pastoral support; and corporate/peer mentoring programme. All opportunities are fully funded, including travel, accommodation and subsistence, ensuring that cost is not a barrier to participation.

Future Talent Programme: (20 – 22 year olds) :

3-day residential workshops; employability skills; one-to-one career guidance; one-to-one pastoral support; corporate mentoring guidance; one-to-one pastoral support; corporate mentoring programme; opportunity signposting; and bursaries for accommodation/travel.

Support is focused on helping students take practical next steps into education, employment and early careers, including application and interview support.

The charity approaches social mobility change by tackling the knowledge, skills, support and access gaps experienced by our students, who are geographically and financially distant from professional opportunities, – and by championing equal access to employment opportunity through our employer partner network. We combine meaningful exposure with sustained support over time.

We work with our corporate supporters to increase understanding of the barriers to social mobility, to highlight the advantages of a supported and diverse workforce for sustainability and success, and to provide access to a diverse talent pool.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the CIO should undertake.

Achievements and performance

Significant activities and achievements against objectives

Throughout the course of the year the charity has worked to refine its offering and every forward step has been made to ensure the support of The Talent Tap is targeted to where it is needed most and is reflective of the assistance our students tell us they need.

Our Emerging Talent Programme (ETP) remained central to delivery. In July 2025, 44 young people from across the UK attended in-person work experience in London, working with 11 employers to gain first-hand insight into different careers, build networks and develop key employability skills. This included employer-led sessions such as a networking event and a client pitch masterclass.

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Alongside this, we continued to evolve how young people engage with opportunities and how we work with employers. This included the introduction of the Vizzy platform, which allowed students to apply directly for placements based on their interests, whilst employers selected candidates through an anonymised process.

The Future Talent Programme (FTP) continued to develop, with a further residential delivered in London in September 2024, attended by 21 students. The 3-day programme focused on preparing students for internships and early careers, including through mock assessment centres delivered in partnership with employers.

We also continued to provide support beyond the core programmes throughout the year. This included mock interviews, CV workshops and practical financial support, such as travel and accommodation loans to enable access to opportunities. In January 2025, we supported 107 young people through our interview applications, working with 19 schools and organisations, including Refugee Education UK.

Feedback from participants remained strongly positive and continues to demonstrate the impact of the programme. The proportion of students who felt their skills would allow them to pursue their chosen career rose from 35% before the programme to 98% afterwards. Similarly, those who felt their experience was sufficient to pursue their chosen career increased from 23% to 93%.

This further reinforces the charity’s belief that practical, in-person experiences and direct engagement with employers play a crucial role in improving confidence, skills and long-term outcomes for young people.

During the year, we also strengthened the organisation more broadly. The Trustee Board was expanded from four to ten members, bringing in a wider range of expertise to support our continued growth. This significantly strengthens the charity's capacity to develop partnerships and grow income in the coming year. We hosted our Partners’ Breakfast event, bringing together partners, trustees and young people to share insights and identify practical ways to strengthen the programme. We were also proud to contribute to wider discussions in the social mobility space.

We also introduced a revised approach to funding, helping to create a more structured and sustainable framework for employer engagement, and a more sustainable funding model.

Financial review

The charity’s income for the financial year totalled £195,464 (2024: £342,653), representing a reduction on the prior year and reflecting a more challenging fundraising environment. Despite this, we were grateful for the continued support of our corporate partners and for the new partnerships developed during the year.

The income figure is comprised of donations and legacies of £174,764 (2024: £295,940), grants of £30,807 (2024: £75,500), and other income including fundraising of £20,700 (2024: £46,713).

Expenditure in the period stands at a total of £242,939 (2024: £411,565), reflecting a reduction in overall spend following a smaller programme delivery (44 students vs 117 the previous year) and reduced staffing, reflecting the lower income levels. Expenditure consisted of spending on charitable activities of £218,525 (2024: £349,107) and costs relating to raising funds of £24,414 (2024: £62,458).

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

This has resulted in a net deficit of £(47,475) (2024: £(68,912)). Once added to brought forward reserves, the final reserve position of the charity at the end of the financial period is £82,805, consisting of unrestricted reserves of £32,613 and restricted reserves of £50,192. The charity holds no investments.

In line with the financial expectations set out in the prior year, the charity has continued to invest in its programme delivery, whilst also beginning to adjust its operating model in response to the changing funding environment. This has resulted in a second consecutive year of deficit, during a period in which income has reduced.

Financial outlook and objectives

During the year, the Trustees have undertaken a review of the charity’s operating model and developed a refreshed strategy, alongside changes to how the organisation engages partners and generates income to generate a more sustainable funding model. By implementing these changes, trustees expect to resolve the deficit by the end of the following year, ending 31 August 2026.

The significant expansion of the Trustee Board, from four to ten members appointed in late 2025, has brought additional fundraising capacity, expertise and governance strength to support this recovery. The Emerging Talent Programme is confirmed for delivery in summer 2026, demonstrating continued operational momentum and the sustained confidence of our employer partners.

This reflects a period of transition for the charity, with steps being taken to address the underlying drivers of the deficit and to move towards a more sustainable financial position.

In line with the Trustee’s stated Reserves Policy, the funds held in reserve remain sufficient to maintain an appropriate contingency buffer and to support the ongoing activities of the charity, giving comfort as to its solvency.

The Trustees expect the charity to continue for the foreseeable future and, as such, are reporting on a going concern basis.

The charity is committed to continually reviewing its expenditure to ensure it is seeking best value for money, both financially and in terms of the benefit such charitable spending brings to our students. It is probable that charitable expenditure will continue to be carefully managed, alongside a review of income-generating strategies, as the charity works towards restoring balance over the coming periods.

The Trustees will continue to review financial information relating to the charity and its expansion plans on a quarterly basis, assessing financial risk and ensuring the charity is making best use of its funds

Principal risks and uncertainties

The Trustees maintain a risk register and review principal risks on a regular basis. During the year, the Trustees identified the following as the highest priority risks and the actions taken to address them.

The most significant risk was income fragility, reflecting a lack of diversity in funding sources and the absence of a year-round funding model. In response, the charity renewed its focus on

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

trusts and foundations, explored university funding streams, introduced a structured employer partnership ask, and recruited a Programme and Partnerships Manager to strengthen income development capacity.

A related risk was the absence of a clear approved budget aligned to the charity's objectives, which limited the ability to manage expenditure proactively and presented a reputational risk with potential funders. The charity engaged the Cranfield Trust to support the development of a business plan and redrafted its budget for trustee approval.

The Trustees also identified a risk of insufficient strategic clarity, which can lead to reactive financial planning and difficulty assessing progress against objectives. This was addressed through the business planning process, supported by pre and post-programme roundtables with corporate partners and young people to gather structured feedback and test strategic direction.

Delivery capacity was identified as a risk given the mismatch between staff resource and programme ambitions. This was addressed through recruitment and revised role descriptions. The Trustees are satisfied that appropriate mitigations are in place for each of these risks and will continue to monitor the register on a quarterly basis.

Reserves Policy

The Trustees of The Talent Tap believe that a reserve should be maintained in order to:

As a result, the charity will hold in reserve not more than 50% of its income for the financial period. The charity does not currently hold any investments and any surplus funds are held in a current bank account.

In addition, it will endeavour to maintain a contingency reserve of 6 months of essential operating costs (consisting of support costs and costs of closure).

The policy is reviewed annually by the Trustees to ensure it remains in line with the current objectives of the charity.

Structure, governance and management

The charity is a Charitable Incorporated Institution (“CIO”) founded in April 2019 under a foundation constitution in which the Trustees are the only voting members.

It is registered with the Charity Commission for England and Wales, and its charity number is 1183124.

Apart from the first charity Trustees, every Trustee is appointed for a term of three years by a resolution passed at a properly convened meeting of the Board of Trustees.

In selecting individuals for appointment, the charity Trustees will show regard to the skills, knowledge and experience needed for the effective administration of the CIO.

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

The charity Trustees will make available to each new charity Trustee, on or before his or her first appointment, a copy of the current version of the constitution and a copy of the latest Trustees’ Annual Report and Financial Statements.

In the event of the CIO being wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and guarantees.

Responsibilities of the Trustees

The Trustees are responsible for preparing the Trustees’ 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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 time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution of the charity. They 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.

Approved by order of the members of the Board of Trustees and signed on their behalf by:

Rupert Taylor

(Chair)

15 June 2026

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE TALENT TAP

I report to the Trustees on my examination of the financial statements of The Talent Tap (the CIO) for the year ended 31 August 2025.

Responsibilities and basis of report

As the Trustees of the CIO you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the CIO’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and 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.

Mark McLean FCA Thomas and Young Limited Carleton House 266-268 Stratford Road Shirley Solihull B90 3AD

Date: 16 June 2026

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

THE TALENT TAP

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
3
142,607
32,157
Other trading activities
4
16,950
-
Other income
5
3,750
-
Total income
163,307
32,157
Expenditure on:
Raising funds
6
24,414
-
Charitable activities
7
182,616
35,909
Total expenditure
207,030
35,909
Net expenditure and
movement in funds
(43,723)
(3,752)
Reconciliation of funds:
Fund balances at 1 September
2024
76,336
53,944
Fund balances at 31 August
2025
32,613
50,192		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
174,764
237,440
58,500
16,950
45,213
-
3,750
1,500
-
195,464
284,153
58,500
24,414
62,458
-
218,525
303,051
46,056
242,939
365,509
46,056
(47,475)
(81,356)
12,444
130,280
157,692
41,500
82,805
76,336
53,944		 Total
2024
£
295,940
45,213
1,500
342,653
62,458
349,107
411,565
(68,912)
199,192
130,280

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
The funds of the CIO
Restricted income funds
17
Unrestricted funds
18		 2025
£
6,214
84,015
90,229
(8,823)		 £
1,399
81,406
82,805
50,192
32,613
82,805		 2024
£
52,783
92,367
145,150
(17,239)		 £
2,369
127,911
130,280
53,944
76,336
130,280

The financial statements were approved by the Trustees on 15 June 2026

Rupert Taylor Chair of Trustees

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

The Talent Tap ('the charity') is a Charitable Incorporated Organisation (CIO) registered with the Charities Commission for England and Wales (charity number 1183124)

1.1[Basis of preparation ]

The financial statements have been prepared in accordance with the CIO's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The CIO is a Public Benefit Entity as defined by FRS 102.

The CIO has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2[Going concern ]

At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3[Charitable funds ]

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the CIO.

1.4[Income ]

Income is recognised when the CIO is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the CIO has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the CIO has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the CIO reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The CIO has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the CIO's balance sheet when the CIO becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the CIO’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the CIO is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the CIO’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

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
142,607
1,350
Grants
-
30,807
142,607
32,157		 Total Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
143,957
218,440
2,000
30,807
19,000
56,500
174,764
237,440
58,500		 Total
2024
£
220,440
75,500
295,940

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising events 16,950 45,213

5 Other income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 3,750 1,500

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 9,170 40,410
Staff costs 15,244 22,048
24,414 62,458

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

7 Expenditure on charitable activities

Direct costs
Staff costs
Travel,accommodation and subsistence
Consumables
Events,workshops and Entertainment
Bursaries
Mentoring
Consultancy
Advertising and marketing
Staff expenses
Exchange rate loss on debtors
Share of support and governance costs (see note 8)
Support
Governance
Analysis by fund
Unrestricted funds
Restricted funds		 Total
2025
£
109,002
44,773
1,662
406
11,508
1,268
375
-
168
405
169,567
31,638
17,320
218,525
182,616
35,909
218,525		 Total
2024
£
153,821
82,485
2,489
7,039
1,055
16,629
4,284
541
1,255
-
269,598
72,742
6,767
349,107
303,051
46,056
349,107

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Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

8 Support costs allocated to activities

Staff costs
Depreciation
Staff training
Staff expenses
Recruitment
Advertising and Marketing
Rent
Telephone and Internet
Insurance
Computer and IT
Subscription, Printing and Postage
Governance
Governance costs comprise:
Independent Examination fees
Accountancy
Legal and professional
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 Total
2025
£
19,983
970
1,280
-
-
-
-
10
1,093
6,630
1,672
17,320
48,958
2025
£
1,200
1,500
14,620
17,320
2025
£
1,200
970		 Total
2024
£
48,485
970
713
366
1,188
1,242
5,706
46
1,132
12,268
626
6,767
79,509
2024
£
1,200
1,500
4,067
6,767
2024
£
1,200
486

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the CIO during the year.

Page 18 of 22

Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
3
2025
£
135,427
6,504
2,298
144,229		 2024
Number
7
2024
£
201,837
18,854
3,663
224,354

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Tangible fixed assets
Computers
£
Cost
At 1 September 2024 3,878
At 31 August 2025 3,878
Depreciation and impairment
At 1 September 2024 1,509
Depreciation charged in the year 970
At 31 August 2025 2,479
Carrying amount
At 31 August 2025 1,399
At 31 August 2024 2,369

Page 19 of 22

Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income
16
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
431
5,250
533
6,214
2025
£
2,834
3,289
2,700
8,823
2025
£
2,298		 2024
£
47,923
1,541
3,319
52,783
2024
£
3,100
11,439
2,700
17,239
2024
£
3,663

The CIO operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the CIO in an independently administered fund.

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources At 31 August
September resources expended 2025
2024
£ £ £ £
Trust and Foundation grants 51,944 32,157 (35,909) 48,192
Corporate donations 2,000 - - 2,000
53,944 32,157 (35,909) 50,192

Page 20 of 22

Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

17 Restricted funds

Restricted funds (Continued)
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2024
2023
£ £ £ £
Trust and Foundation grants 41,500 56,500 (46,056) 51,944
Corporate donations - 2,000 - 2,000
41,500 58,500 (46,056) 53,944

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources At 31 August
September resources expended 2025
2024
£ £ £ £
General funds 76,336 163,307 (207,030) 32,613
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2024
2023
£ £ £ £
General funds 157,692 284,153 (365,509) 76,336

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 August 2025:
Tangible assets
1,399
-
Current assets/(liabilities)
31,214
50,192
32,613
50,192		 Total
2025
£
1,399
81,406
82,805

Page 21 of 22

Docusign Envelope ID: 6D816443-051F-8DEA-83AD-EA2F8618B36E

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

19 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 August 2024:
Tangible assets 2,369 - 2,369
Current assets/(liabilities) 73,967 53,944 127,911
76,336 53,944 130,280

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

Page 22 of 22