REGisfERED COMPANY NUMBER: 08898749 IEn8land and Wales) REGISTERED CHARITY NUMBER.. 1183887 MATHSMAKERS (A componylimitedby guamnteej REPORT OF THE TRUSTEE5 AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
MATHSMAKERS (REGISTERED COMPANY NUMBER 088987491 (A componyllmlted by guarnnteej CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 IULY 2024 Pe Company Infomiatlon Report of the Trustees 2-10 Independent Examinerfs Report li Statement of Financial Activities 12 Balan¢0 Sheet 13 Notes to the Financial Statements 14-20
MATHSMAKERS IREGISTERED COMPANY NUMBER 088987491 rA compuny Ilmlted bygvuTonteeJ REFERENCE AND ADMINISTIiATION INFORMATION FOR THE YEAR ENDED 31 JULY 2024 Trustees Michelle lee Helena Mullin5 Rachel Wrlght Mine Bayar Tasmin Grosvenor Lara Stanley Independent Examiner M Koureas FCCA Hetherln8ton and Co 289 Green L2nes, palme Green London N13 4XS Banker5 5antander UK plc Bridle Road, Bootle Merseyside L30 4GB Prlnclpal offlce and reglstered offlce addiess 658 Finchley Road London NWII 7NT Req15tered charity number 1183887 Reglstered company number 08898749 (England and Wale51
MATHSMAKERS IREGISTERED COMPANY NUMBER 088987491 IA company limited by guaranteel TRUSTEES, REPORT YEAR ENDED 31 JULY 2024 The Trustees are pleased to present thelr report and the unaudSted fTnanaal stat&rnent5 forthe year to 31st Julv 2024. The referen and administrativè information set out on page i forms part of this report. The Charltable Company obtalned charitable status from HMRC on 2nd May 2D19 and on 13th June 2019 was registered a5 a ¢harity with the Charities Commission Icharity number 11838871. The Charitable Company has prepared its accounts to comply with its Memorandum and Articles of Assotlation and in accordance with the 'Accounting and Reporting by Charities, Statement of Recommended Prattice applicable to Charities preparin8 their accounts In accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 leffertive I'january 20151. the Companies Act 2006 and the Charities Act 2011. Structure. 2ovemance and management Governing Document The Charitable Company 15 governed by its Mernorandvm and Artieles of Associatlon and is a Company limited by guarantee with no share capital. Trustees A Trustee 15 a membtr of the Board of Trustees of the Charlty and a Director for the purposes of the Companles Act 2006. The Trustee5 who held office during the YearWe as follows.. MichÈlle Lee Helena Mullins Rachel Wrt8ht Mine Bayar Gillian Roberts- Resigned 09/11/2023 Tasmin GrosvenDr-Appointed 19/04/2024 Lara Stanley-Appointed19/04/2024 TrusteeAppointment The power of appointing new Trustees is VE5ted in the exlstlng Trustees. Poterttial nèwrruste are identified bv professional recommendation and are selected and appointed followin8 a vettin8 procedure undertaken bythe TrustEes. Orgonisotiongl structure The Trustees must hold a meeting at least once a year and every truste2 has one vote on each issue with the Ch3irman holding the casting vote. The Trustees, meetln8 at least once a year and more frequently when ne£essaryJ are the decision-making body. The Trustèes do not receive 3ny remuneration.
MATHSMAKERS (REGISTERED COMPANY NUMBER 088987491 IA company Ilmited by guaranteel TRUSTEE5' REPORT YEAR ENDED 31 JULY 2024 Pubfic Benefft The Charity Commission in its Charities and Public Benefit Guid3nce require5 that there are two key principles to be met to show that an organisation's 6im5 are for the public benefit. Firstlyj there must be afj idEntifiable benefit. Secondly, the benefit must be to the public or a section of the public. The Trwtees confirm that in setting the Charity's objectives and in planning its activities, that they have had due regard to the ChaTlty Commis5ion'5 guidance on public benefit when reviewing the Charitable Companvs 3ims and oblectives. The Trustees are $4t15fied that the Charitable Comparty has met the requirements of the public benefit guidance, Oblectlves and actlvStles for the publlc benèfit The objective5 Df the Charitable CDrnpany. Math5Mzkers, are tD a(fvance and promote mathematic5 education for disadvantaged young people in England. Success in mathematics at school is essential lor developing the confidence and skills thai enable young people to access future educatlon and work opportunitles. Mèthsmakers work5 Wlth children and young peDplÉ aged 10-17. Our mission is to help them develop a more positive attitude to maths learning and improve their attainment. Schools endeavctur to provide a good education for all students, In doin8 $0, they face signlficant challenges due to curriculum pressures, resource constraints and the wlde range of needs of the students they teach. A% a result, most students need extra help. including peOnaliSed attention and a chènce to work at 3 slower pace. Som& students receive this throLtgh their family support but many rely on additional support organised thrtsu8h their School. Mathsmakers partnEf5 Wlth 5choo15 to deliver math5 intervention programme5 during school time, after schgol and on weekends and school holTrdays. Mathsmakers priorit15es support for disadvantaged students and those whose attainment is significantly below National Curriculum expectations. The m3jority183% In 20231241 of our students are on Free School Mea15 IFSMI, have Speclal Educatsonal Need5 and Disabilitie5 ISENDI or have English as an Additional nguage IEALI. Only 30% of students on FSM achieve grade 5 Engllsh and Maths GCSES compared to almost double that for non- di5adv8ntaged children in England. MathsMaker5 work5 With schools in order to reduce the attainment gap and help improve the life chances and cholces of students who are performing below Natlonal Curriculum expecratlons. Math5Maker5 programmes Mathsmakers delivers online and in-person maths interventlon programmes in small groups. Programmes run for 12 weeks durlng whlch students have one hour of teathing eaeh week, in addition to acce55 to home learning resources. The students are selected by thèlr schoD15 to participate in the pro8ramrnE5. Mathsmakers work5 closely with each school to ensure that programmes are tailored to the students. needs. Our intervention programmes focus on improving srudents. knowledge. skills and confldente In core mathematlcs toplcs. and preparing them fortheir Key Stage 2 SATS test5 and GCSE exams, Students are given personalised attentlon to help them en8a8e in a more positlve and active way with their learniN8.
MATHSMAKERS IREG15TERED COMPANY NUMBER 088987491 {A company Ilmlted by guarantee) TRUSTEES, REPORT YEAR ENDED 31 JULY 2024 Student5 participate in online programrnes in groups of four. Most loln wlth mlcrophones and cameras swltched on. The small-group arrangement creates a supportive, artive learning environment and facilitstes positive interaction between the students and teacher. In-person programmes are designed for group% of ten students. students benefit from d05e attention Irom thelr Mathsmakers instructor. They also receive additional support from maths mentors who work with them one-on-one Qr in pairs so thatthey stay fully engaged in thelr learning. Mathsmakers recruits math5 ment¢rs from among Sixth-Form students. All mentors recelve pre-prograrnme training and weekly guidance. Sixth-Form student5 who wolunteer with Mathsmakers gain valuable work experience. They develop interpersonal and employ3bllity skills. They can use their experience tts 5trength¢n their applications for university and work opportunities. Some a150 gain accreditation through programmes such as the Duke of EdinbUh awards. 2023124 Achievements and performance of the tharity forthe public benefit 2023124 was another 5tron8 year for Mathsmakers. As in the prevlous year, we worked with 560 student5. 83% of whom were disadvantaged IFSM, SEND or EALI. Thls percentage was slmllar to that in 2022122 when it was 80%. In 2023124. the percentage of EAL students went up from 50% tg 58%. The average attendance across all programmes in 2023124 was 79%. For online programmes the average attendante W35 78% and for in-sthool programmes it was 82%. Over 8$% of students who attended our programmes improved thèir attainment in the maths topics we revised with them. This improvernent rneant that the 5tudellts were in a better position to access their school maths lessons and participate more actively in their learnlng. 5orne students were able to move up a set in school and achieve betrer grades in their GC5E exams. For some. the additional Mathsmakers 5UPPOrt meant the difference between failing and passing their GCSE Maths. In addition to helplng students improve their maths knowledge, skills and attainment, Mathsmakers programmes had a signlficant impact on Students, attiludes to1earning and their Confidence levels. Feedba¢k from schools pointed to students becoming morÈ willing to ask and answer questions in cla55. Sample feedback from school5'. -Pupi1s who uttended MathsMfjker5 progr(FmmÉs hove shown signffficont Fmprovements in their moths lessons. theygL7ined confidence, leoding to more octivepurticfpotion onrl betterproblem-solving skills. This hJs resulted ftn o deeper underst£7ndFng of moths concept5 ando Posfftive uttitude towurds the subject. We notfttedon improvecl arudemFcperformt7nce ondo more en9uging cljssroom atmosphere 05 a result.'_ Grange Prirnary School. Harrow. °Overoll student5 showon increased confidence in beginning questions. and are more confident in answering questions in closs. Students seem more at eose with Muths ond tr occppting that they mighth'nd questions or topics trickyi but have the obility to persevere o bit more. Students who ottended Mathsmakers mode more progress between ossessment points when compared to theirpeer5." Hatch End High School. Yhe children'5 confidence when dealing with moths was definitely b005ted. They developedreolly good relution5hips Wlth the Year 11 voluntee. The communication with MothsMoker5 Wa5 alwoys very cleorond thg sessionsseemed to 90 flt o goodpoce.- GeorBe Eliot School. Wèstminster.
MATHSMAKERS (REGISTERED COMPANY NUMBER 088987491 IA cornpany limited by guarantee) TRU5TEES' REPORT YEAR ENDED 31 JULY 2024 e hove used Muth5Mokersfor manyyeor5 nowundfind their commitment to our student5 und their progress commendtsble. Students come owt7yfrom the sessionsfeeling more confidenr ondmotivoted in mrths GndreullYopprecte the time, uttentlon and supportprovided. On top tsf thls. when looking at our rest dtlru. we hgvefound thot, on overoge, the gop between the test S$for the whole cohort und those who pDrticipoteditJ Mathsmokers decreuses." Nower Hill High School, Harrow. -Mt7t175Mokers Stond out os on oryt7nisrJtion... We are very hoppy with the portnership we hove with Mothsmokers ond would highly recommend their tutoring progromme to schools.~ Friern Barnet e have seen thot the pupils who toke port in the MuthsMLJkers course proore5s extremely well in compurison wlth theiipeers. I CnOtpr&1$e this progrJnJme hi9hty enough.. they ore dolng excellent work und we are proud to bE working olongside therrj." Harrow School In feedbatk from students. over 94% sald they felt they made good or very good progress during their Mathsmakers pro8ramme. Also, the majority of students said th8t the programme en3bled thern to feel more confident about askin8 questions and discussin8 theirwork durin8 tutorials. Sample feedback from students.. -MothsMoker5 reolly helped me 05 l wejk in Moths butl reolly wunted to get 9ood9rude5 in my GCSEond I w05 grtrteful to hovE these 5essions.° °The stuff we hrJvE leornt hos rnrjde me better thon mDStof the people in my maths class." °rhey helped me muth5 und now l (Tm much more confidentlllj Yeochers urefriendly ondftf you don'tget the question theyrepeLTt It Q5 mLTny times 05 VOU wqAJt." trhey teach very well. We could pt7SS the exams. Feedback from parents was also consistently positive. and parents were 8rateful for the extra sUPPOrt thetr child received during MathsMaker5 pro8ramme5. Sample feedback from parents., -such support during the holidoys is wonderful. Myson will definitely do betterot school. He will be more corjfident ond will Jlrecldy know something to sturt with. He wos very pletssed ondsuch c1055e5 will give him self-confidence becou5e he doe5 notfeel confidfnt in mothem(ptics.° "It s usefulfor us mostly becuuse we can't ufford to poyprivotelyforo tutorln order to getso much helpfor ourson'5 moth5 revision. °As my son struggles with maths, having extrrj time to let7rn the concepts cynd methods fvos been very helpfvl." -my daughter hus guined confidence I hove been porticul)rly impressed with the staff inwolwed. Communicotion ffs verycleorfrom my under5ttinding. Stqff huve shown cure t7nd considerJtionfDrthe students. The supportive mockprep sessiorj was u kind undnurturing experiencefor my daughter. Slxth-Form students who volunteered wSth Mathsmakers galned valuable work experience that helped them develop their interpersonal and employability ski115. All mentors received a letter ctf recommendation that they can use to support UCAS and job appllcatlons. Sample feedback from mentors.. "l improvecl mycommunicution skills os I lerNrned how to bre(yk down concepts which muysound dlfficult Into smullgrsimpler step5. "It wos rewarding to be able to see students understandsomethFng theyprevlously thought wos impossible to understand."
MATHSMAKERS IREGISTERED COMPANY NUMBER 088987491 {A company limlted by guaranteel TRU5TEES' REPORT YEAR ENDED 31 JULY 2024 .1 leornthowto communicote ideus to Child ¢urefullyond eoslly. l also learnt how to prompt Students to get their solutions." "I leornt howto improve my communictrtlofi skills us wellos huving more potience since people work ot thelr own poce. Developments In 2023124 Accreditations O During 2023124, Mathsmakers successfully completed a rigorous extemal ev8lu8fjon that resulted In M8thsMakers becoming an Approved Tuition Partner wthin the D8p8rtm8nt for Educ2tion National Tutoring Programme. M8thsMakEr8 met all the requirements Bnd exceeded expectstions In 8ever81 categories, including those relating to Quality ckf prowsion, Quality of tLrtorin& Quality of 8UPPOrt (for tLrtor51. and Partnershipslcollsborations schoots. This was a significant achievement for Mathsmakers and onethat h8s been recDgnised bythe schoolsweworkwith. O ALSO In 2023124. Nathsmakers rnat requirements relating to pts(ici85, management prDce5ses and safeguarding towards achleving a QUa"ty Mark wth the YPF Cloung Pèopl&'s Found£tionl Tiust. In 2024125, we wlll complete additional requirÉm8nts r8lating to Creative Teaching and Learning and Studentvoice. We expectto achieve the YPFTrust Quality Msrk by summer 2025. Worklng across 4 boroughs O Mathsmakers continued to rull programmes In Barnet, Brent, HatTOW and Westminster. bulldlng netsvorks wth othor supplementsry schools and community organisations in these borough& In particular. we engaged actively in &vents oQanised by Young Barnet Foundation, Young 8rent Foundation and Young Harrow Foundation so that Mathsmakers is now r8cogni$Èd as an organis8tion that se&ks to Bddress the needs olchildren and yDung people Inthese boroughs. Development of in-person proBrammes O FoiLowing a slgnificant increase IN 2D22123 in the number of students attending our in-school PTogramme8. there was another increase in 2023124 01 almost 50%. Most of our in-persort programmes are foryoungerstudÈnts. thos& in years £-8, who benefit from more peistsrnalised support and interperson81 interaetion. O As part ol the above incr88$0 in in-parson programmes, we had a 40% in¢rease In Year 12 students volunte£ring and taking on our rnaths mentor positions. They made a slgnific8nt Contribuon lo the $uccess ol each progfatnmè. helping to create a supportlve and oclive learning environment lor thè younger students. At the same time, they developed their own confid8nc8 and 3kn11s, and ait were positwe intheirf88db8ck aboutthelrwork experience wth M8thsM8kers. Partner5hip5 O Mathsmakors in-rs9n programmes wth prim8ry schools create opportunitie8 for 3-wdy partnerships thst include MathsNakers, the primèry school and 3 ne8rby secondary 8chool from wher8 the SL%th- torm mentors ar8 rècruited. O Year 6 students benefit from heving role models from other sthooLs in the community, particularly schools that thay MitI01n as secondary students. Year 12 maths rnentors benefit from volunteering and h8ving work experienc6 8t a nearby prtmary schooL Mathsmskers programmes help create a good sense of eommunity btheen the schools. O In 2023124, we *8rtèd 8 new p8rtnèrship th Belmoni Schooland Harrow SchooL
MATHSMAKERS IREGISTERED COMPANY NUMBER 088987491 IA rompany limlted by BU3ranteel TRUSTEES, REPORT YEAR ENDED 31 JULY 2024 Working Wlth local comrnunity organisations O Mèthsmakers contlnued a ctsllaboration with Ignite Youth in Harrow. Ignite Youth is a local community organisation that supports vulnerable and disadvantaged children 3nd young people by offering out-of-school activities and programMe5. Worktng with Ignite Youth has en8bled u5 to reach stud@nts whD aro not receiving the support they need either through their schools or lamilies. O Workrng with 0igani5ati0 other than 5choo15 provides opportunitie5 for Math5Maker5 to establish greater presence in the local community and dlversify the content and strurture of our programmes. • Expan5i0n of MathsMaker5 tea O In 2023124, we were happy to promote our Math5Makers Programme Administrator to a Programme Manager role. This ensured addltlonal support for the team of Mathsmakers Instructo and enabled the Executive Directorto focu5 more on Strategic planning and development. O Mathsmakers programmes are delivered by a team of highly qualified and experienced maths teachers and tutors. In 2023124, we added another instructor to our team, brlnglng us to a total of 14 instructors. 10 years of helping students make progress in their maths learning 0 2023124 marked the tenth year of Mathsmakers a5 an organisation. Throughout this time, we have been glad to make a difference for a 8rowing number of students In years 6.12, helpln8 them to improvè their maths confidencé 3nd attainment. We have been grateful for all the hours volunteered by our rnaths mentors and delighted to see the development in thelr personalities and skills. O We are grateful for 311 the partner5hip5 Wlth schoo15, community organi5ation5 and sUPPOrters that we have established over the past 10 years. We believe we have worked well together ond complemented the considerable level of teaching and learning that happens in each schoal. O Please read our 10-year Impact Report on our website, www.mathsmèkers.or8. The Math5Makers Board In 2023124. Gillian Rgberts Stepped down from her position as trustee and chair of the Mathsmakers Board of Directory, Rachel Wrlght took over as Chair. Rachel and all trustees extend sincere thanks to Gillian foT the 6enerous and careful att211tion She gave to Mathsmakers during her time on the Board. In April 2Q124. we were delighted to appolni two new trustees, Lara Stanley and Tamsin Grosvenor. Lara has 518nifitaAt expErience in comrnunications and public af13ir5 and Tamsin is an experienced marketer who is passionate about supporting those from dlsadvantaged backsrounds like hEr own. Complementing the existing team. with their experience in education and finance, Lara and Tamsin have enabled the MathsMaker5 Board member5 to come together as a strengrhened group with a broad mix tsf skllls and backgrounds. Thls brought a fresh perspective as we reached 10 years of Mathsmakers and took thè opportunity to look b3ck over 5ucces5es and Browth in this time. It has èlso helped us consider new approaches to marketln8, lundralsin8 and strategic planning as we look farward to the next 10 yeats and plan for further growth. Fundlng our programmes MBth5Mak2r5 SUPPQrt is provided free of charge to students and families. This is Part of our mission and commitment to ensuring that the Students we work with, most of whom are disadvantaged, can access the help they need.
MATHSMAKERS IREGb5TERED COMPANY NUMBER 088987491 (A tompany limited by guarantee) TRUSTEES. REPORT YEAR ENDED 31 JULY 2024 M3thsMaker5 charges a fee to the schoo15 and organisations we work with. So that schools can offer our prD8rarnmes free of charge to stttdents and familiès, Mathsmakers charges a subsi(Jised rate that Is made posslble through ourfundra55ing. We rely on 8rants from ch3rities and foundatiorts. and we obtsin donations from our supporters. For our programme5 in 2023124, Mathsmakers is grateful forfunding retelved from John Lyon's Charfty. London Freemasons, Charity, Securin8 Success, TescoIGroundwork, YDung Harrow Foundation, 8C Capital, and friends of Math5MakÈrs. In 2023124. schools prlmarjly used Pupil Premiurn funding and funding from the Department for Education through the National Tutoring Programrne INTPI to cover lees charged by Mathsmakers. NTr *unding for sthools has made a significant differenTr in enabling them to Contract with external organi5ations like Mathsmakers. It made possible the considerable increase in catch-up sljPPOrt that schools provided for disadvantaged Students durin8 2020-2024. For example. Mathsmakers moved from supporting around 100 students pre-covid to Wgrking with a1rn05t 600 students by 2023124. In August 2024, school funding associate(J with the National Tutorin8 Progrdmme came to an end. Post Covid, the nÈed for additional learning support for disadvantaged students is stlll thÈre and the attainment gap ha5 widened ILSE research, April 20241. MathsMakers15 committed to working with schools to find ways around the loss of NTP fundin8. We are doing thi5 by optimising thè timing of our maths intervention, tailoring the length of programmes to fitwith schoo15' requirements. and adjusting group sizes to fit students, needs. Mathsmakers continue5 to séèk fundin8 from Brants and donatlons in orderlo be able to offer affordable. 5ubsidi5Ed rates to schools. We want to make sure that disadvantaged students don't105e out on additional supportjust because NTP funding ha5 ended, nandal Re¥lew The results for the year arè set out on page 10. For the period under r2view the Charitable Companrf5 principal sources of income derived from grants recéived. donations and tuition fees. Total income generated for the period was £118,77712023.. £161,961 of which £90,777 related to génera5 funds and £28,000 related to restricted funds. For the year under review expenditure totalled £130.325 of whlch £98,200 related to general funds and £32,12S wa5 expended from restricted funds. The results In overall terms show a deficit of Income over expenditure of £ll,54812023'. surplus £36,511). At the year end date. general regeNes stood at £39,987 and rèstrlcted funds were fully expended. Reserve5 Policy The Charitable Companys aims are to ensure that donated funds are utilised to 5UPPOrtacademic and studÈnt inltlatives, Consequently. the Charltable Company retains a small level of reserves sufficientto meet its Statutory obligations and day to day requirements and pay salarfed employees. It dtses not pay premises costs. Looklng ahead MathsM3ker5 looks forward to helplng more children and youn8 people with their maths learnin8 in 2024125 and beyond. Priorities include the f¢llowlng-
MATHSMAKERS {REGISTERED COMPANY NUMBER 088987491 IA company Ilmlted by guarantee) TRUSTEE5' REPORT YEAR ENDED 31 JULY 2024 • Developing more partnerships with schools and local cornmunity organisation5 In the coming 3-5 years, Math5MakEf5 aims to pursue a steady increase in the number of students WÈ support. focus5ing particularly on disadvantaged Students. We will continue to offer in-school and online prugr(Imme5, 3dBptlnS Dur provi510n to ariornmodate changes in School environments, technolo8y, and Student learning Preferences. o WÈ anticipate an increase In demand for sn-person maths intervention programrres. Mathsmakers is actively recruitin8 in preparation for this. o Followlng the successes in 2023124, we look fO2rd lo developing furtheT 3-way partnerships Involving Math5Maker5, primary 5£hoo15 and secondary schoo15. These partner5hip5 help build a community for students, mentors, and stalf from different school5. Expanding and diversifying our fundraisin8 To compensate for the end of the National Tutorin8 Programme INTPI, MathsM3kers is expandin8 its fundraising efforts to obtain new grant5 3nd donations, while maintaining good connectiQn5 Wlth our existing funders, o Thanks to the expertlse, experience and connections of our new trustees, Mathsmakes is also artlvely exploring corporate sponsorships 50 as to diversify our funding sources. Our efforts are focvssed on building relationships with local businesses, and with corporations with a STEM focus. o A growing and secure funding base will allow Mathsmakers to continue offering subsidised mzth5 intervention pro8rammes to schools and community or8anisatlons. • Continuin8 to develop expertise within our team of instrurtors O Approaching 2024125, M3th5Maker5 15 Seeing a significant increase in the percentage of Students with SEND and students with English as an Additional Language IEALI who are being selected by schools to attend our PTo8rammes. M05t of these 5tudeHts need a greater quantity and depth of support. Recognising this, Mathsmakers is putting training In place to ensure all instructors can be effective and 5en51tive when teaching student5 Wlth additional nee(ts. both anline and in person. o Mathsmakers is preparing for the considerable expected impact of Al on teaching, assessments, accesslblllty. and equipping students with rhe skllls they will need. We have started exploring trainlrtg Al-related areas for all our staff. Continuing to develop and expand the M3thsMakers team O Mathsmakers will continue to build administrative amd management resources to support the roll-out of its strategic plan.we se@ scope for expandin8 the role of our P¥ogramme Mana8er and appointing a new Programrne Administrator. We also anticipate appointing an additional Business Manager. Worklng towards accreditation with the Youn6 People's Foundation Trust. o As Mathsmakers work5 towards the YPF Trust Quality Mark, we will adopt best practices in relation to creatlve teachlng and student volce In our programmes. Thls aceredltatlon wlll also help us better target the youth Sector.
MATHSMAKERS IREG15TERED COMPANY NUMBER 088987491 {A company limited byguaranteel TRUSTEES, REPORT YEAR ENDED 31 JULY 2024 Small ¢ompany prov151ons The above report has been prepared in accordance with the special provisions of Part 15 of The Companie5 Act 2006 relatin8 to small companies. Approved and authori5ed for Issue by the Board of Tru5teeg on 7 November 2024 and signed on its behalf by.. Michelle Lee ttrusteel io
INDEPENDENT EXAMINER'S REPORTTO THE DIRECTORS OF MATHSMAKERS I ieport to the Company Directors on my examination of the accounts of Mathsmaker5 for the year ended 31 July 2024 set out on pages ten to eighteen. Respon5ibllities and basls of report s the Companls Directors land also its Trustees for the purposes of charity lawl you are responsible lor the prEparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act'l. aving sat15fied myself that the accounts of the Charitable Company are not required to be audited under Part 16 01 the 2DQ6 Act and are eligible for independent examination, I report in respect of my examination ol ygur Charity's accounts a5 carried out under Section 145 of the Charities Act 20111'the 2011 Act'l. In cairylng out my examlnatlon I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2CIII Act. Indèpendènt èxaminer's statement I hwe cornpleted my examination. I confirm that no matters have come to my attention in connection with the examination gIlg me cause to believe= accountin8 records were not kept in spect of the Charitable Company a5 required by section 386 of the 2006 Act,. Dr the accounts do not accord with those ¥ecDrds,' or the accounts do not comply with the accounting requirements of section 396 of the 2006 Art other than anv requirement that the accounts wve a 'true and fair view which is not a matter ctsnsidered as part of an independent PKamination,' or the accounts have not been prepared in accordance with the mothods and principles of the Statement of Recommended Practi for accounting and reportlng by charitles. I have no conterns and have come across no other Matters in connection with the examlnation to whlch attentlon should be drawn in this report In order to enable a proper understanding DI the accounts to be reached. M Koure?s FCCA Hetherin8ton & CD Chartered Certified Accountants Second Floor 289 Green Lanes Palmers Green London N13 4XS Dare.. 7 November 2024 Page 11
MATH5MAKERS STATEMENT OF FINANCIAL ACTIVIT]ES IINCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2024 Year to Yearto 31.07.24 31.07.24 Unre5trirted Re5trlcted fund fund Year to 31.07.24 Year t 31.07.23 Tot31 Total Notes INCOME AND ENDOWMENTS FROM.. Donations and Legacie5 18,852 28,000 46,852 95,787 Other Tradlng Activities 71,925 71.925 66,181 Total Income 90,777 28.000 118.777 16L968 EXPENDITURE ON: Charitable acilvitles 98,2LXI 32,125 130.325 125,457 Total expendltu 98,200 32,12S 130 325 125,457 NET INCOME I IEXPENDITUREI FOR THE YEAR 17,4231 14,1251 111,5481 36,511 RECONCILIATION OF FUNDS Total fund5 brought forward 47,410 4,125.00 51.535 15.024 TOTAL FUNDS CARRIED FORWARD 39,987 39.987 5L535 Page 12 The noles tomi part ofthese finanaal statements
MATHSMAKERS (REGISTERED NIJMBER: 088987491 8AIANCE SHEEr AT 31 JULY 2024 Asat 31.07.24 Asat 31.07.23 Notes CURRENT ASSETS Debtors C35h at bank 971 43,286 44,257 4,699 57,209 61,908 CREDITORS Atnounts falling due within one year io 14,270 110,373 NET CURRENT ASSETS 39.987 51.535 TOTAL ASSETS LESS CURRENT LIABILITIES 39.987 51.535 NAssET5 39,987 FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 13 13 39,987 47,410 4.125 51.535 39.987 The Charitable Con7pany is entitled to exemptlon from audit under Section 477 of the Companies Art 2Q06 for the year ended 31 July 2024. The mernbEfs have not required the Charitable Company to obtain an audit ol its financial statements for the year ended 31 July 2024 in accordance with 5ectlon 476 of thè Cornp3nies Act 2006. The Tru5tee5 acknowledge their re5pon5ibilitles for lal ensuring that the Charitable Cornpany keeps accountin8 records that comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of eath financial ye3r and of its surplus or deficit for each financial yEar accordance with the rEquiretnents of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. 50 far 35 applicable to th charitable companv. These financlal statements have been prepared ih actordan¢e with the special provisions ol Part 15 of the Companies Att 2006 relating to srnall companies. The financièl 5tatement5 were approved by the Board of Directors on 7 November 2024 and were Signed on its beialf by.. Michelle Lee (Trusteel Page 13 The notes form part of these financial statements
MATHMAKERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 I. ACCOUNnNG POLICIES The prirLcipal accounting policles, all of which have been applied consistently throughout the year, were as follows:. 1.1 Basis of A¢countin8 The financial statements have beerh prepared in accordance with the Accounting and Reporting by Charliles.. Statement ol Recommended Practice applicable to Charities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective tst January 20151. the Companies Act 2006 and the Charltles Art 2011. The Charlty meets the definition of a public benefit entity under FRS 102. Assets 3nd li3bilitie5 are initiallv rectsBnlsed at historical cost ortfansadion value unless otherwise stated in the relevant notelsl to these accounts. L2 GolnB concern The Trustees have assessed whetherthe use of the going concern basis is appropriate and have considered possible events or condwtions that mi8ht cast doubt on the abll>ty of the Charltable Company to continue 3S a going concern. Having assessed the Charity's future cashflows and projectlons, theTrustee5 have conduded the Charity has 5uflicient resources to continue In operational existence for the foreseeable future and consequently it appropriate to continue to adopt the 8oing concern basis in preparlng its financial statements. 1.3 Income Voluntary income including donatlons, gifts, legacies or grant5 from varlous individuals, corporations and charitable foundations are recognised where there is entitlement, any conditions attached to the itemlsl of income have been met. it Is probable that the income will be received and the amount can be rneasyred reliably. Such income is only deferred when.. al The donor specifies that the grant or donation must only be used in future accounting periods. bl The donor has imposed conditions which must be rnet before the charlty has unconditional entitlèment. lrtcome generated from fund raising events Is reco8nised when earned. Incorne tax recoverable In relation to donatian5 received under gift aid or deeds of covenant is rECO8nlsed at the tirne of the donation. All incomin8 resources are reported Bross before expenses. 1.4 Donated services and facllltles Donated services and donated facilities a recognised as income when the Charitable Company has control ov2r the itèm. any conditions associated with ihe donated item have been met. the receipt of economic benefit from the use by the Charltable Company of the item is probable and that ecofft¢mlc beneflt can be measured reliabty by the Directo using best estimates. Pa8e 14
MATHSMAKERS NOTES TO THE FINANCIALSTATEMENT5- CONfiNUED FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES- ¢ontlnued 1.5 Expenditure and Irrecovprable VAT Expenditur& 15 iècognised once there15 a legal or constructive obligation to make a payment to a third party. it is probable that 5ettleFnent will be required anij the amount of the obllgation can be measured reliably. Expenditure is classified under the followlng activity heading5'. Cost of raislng funds are those costs InCUrd In attratting voluntary Income. Expendlture Dn charitable activitles includes all direct Costs incurred to further the PUTpose of the Charity together with a550ciatEd 5UPPOrt C05t5. Other expenditure represents those items not falllng into any other heading. Irreroverable VAT 15 charged as a cost against the activity for which the expenditure wa5 incurred. L6 Taxatlon and Mlscellaneous As the Company Is a reglstered charity 5t Is not liable to Income tax on its charitable activities land It does not undertake any non-chÈirltable tradlngl. The Charltable Company is unat]le to recover VAT, and all expenditure is thus stated inclusive of VAT where appllcable. Other pollcies are explained within the notes on specific aspects ol the accounts. 1.7 Allocatlon of support costs Support costs are those functions that assist the work of the Charitable Company but do not dirertlv undertake charitable activitie5. Support costs include ofllce c05t5. flnance and governan¢e costs which 5UPPOrt the Charitable Company'5 activities. These costs have been apportioned between charitable activities undertaken In the year. The basis on which support costs have boen allocatod are Set out in note 5. 1.8 Cash and cash equlvalents Cash and cash equivalents include rash in hand, deposits held at call with bank5, Other short-term liquld investments with orl8inal maturities of three months or less, and bank overdrafts. Bank overdralts are shown within borrowlrtgs in current liabilities. 1.9 Flnanclal Instrurnent$ The Charitable Company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section IZ 'Other Financial Instruments Issues, of FRS 102 to all of its flnanclal instruments. Financial instrurnents are recognised in the Charitable Company'5 balance sheet when the charity betomes party io the contrattual provisions of the instrument. Flnancial assets and Ilabillties are offset. with the net amounts presented In the finantial statements, when there is a legally enforceable right to set off the recognlsed amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 1.10 Basic finantial assets Baslc flnancièl assets. which Include debtors and cash and bank balantes, are Inltially measured at transaction price including transaction costs and a subsequently carried at amortised cost U51ng the effective interest method unles5 the arrangement constitutes a finanang transaction, where the transattion is measured at the pre5èrit value of the future receipts discountÈd at 3 market rate of interesr, Flnanclal assets classlfied as receivable withln one year are not amortlsed. Page 15
MATHSMAKERS NOTES TO THE FINANCWLSTATEMENT5- CONTINUED FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES- contlnued 1.11 Basic flnancial liabilities Basic financial liabilities. including creditor5 and bankloans are initially recognised at trans3Ction prtce unless the arr3ngernent tonstitutes a financln8 transaction. where the debt instrument 15 measured atthe present value of the luture payments di5COUnted at a market rate of Énterest. Financial liabilities classified as payablè within one year are not amortised. 1.12 Fund accountin8 Unrestrirted funds are available to spend on activitie5 that further any ol the purposes of the Charitable Company. Designated funds are unrestricted fund5 of the Charitable Company which the Trustee5 have decided at their discretion to set aside to use for a specific purpose. Restricted funds 3re donations which the donor ha5 specified a to be stslely used for partlcular areas of the Charitable Company's work or for specific projects being undertaken by the Charitable Companv. 1.13 Critical accountlng e5tlmate5 and judgements In the application of the Charitable Company's accountlng policles, the Trustees are required to make judgements, estimates and assurnption5 about the carryin8 amount of assets and liabilities that are not readily apparent from other Sources. The estimates and assoclated assumptions are based on historieal experience and other factors that are considered to be relevant. Actual result5 may differ from these Èstimates. The estimates and underlying assumptions are rewewed on an ongoin8 b3$15. Revisions to accountin8 estimates are recognised in the period sn whith 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 period5. 2. DONATIONS AND LEGACIES Yearto 31.07.24 Total Year to 31.07.23 Total Unrestricted Fund Restricted Fund Grants Don3tions 28,000 28,CKJO 18,852 31.000 64,787 18,852 18,852 28,000 46,852 95.787 3. OTHER TRADING ACTIVITIES Year to 31.07.24 Total Year to 31.07.23 Total Unre5tri¢ted Fund Restricted Fund Tuitlon Fee5 71,925 71,925 71,925 71,925 66,181 Page 16
MATHSMAKERS NOTES TO THE FINANCEAL STATEMENT5- CONTINUED FOR THE YEAR ENDED 31 JULY 2024 4. CHARITABLE ACTIVITIES COSTS Year to 31.07.24 Total Year to 31.07.23 Total Dirert CL15ts.- fuition Tutor fees. tuition resources and training Fundraising and web development Support Costs (see note 5} 93,868 978 35.479 98,734 1,328 25,395 130,325 12S.457 For the year ended 31st July 2024 the charitable expendlture was £130,25512023.. £125,457) Df which £32,12512023', £26,875] was expenditure from restricted funds. 5. SUPPORT COSTS The Charitable Company initially identifie5 the costs of its support funrtion5. It then identifies those costs which relate to the governance function. Having identified it5 governance costs, the mainIng support costs together with the governance costs are alloca'.ed entirely to tuition, being the Charitablc Company's sole activity. An analy515 Df 5UPPOrt C05tS 15 gvell below.. Other Govern3nce expenses Total Independent examiner5 fee Salarles and related ctssts Office costs 2.580 2.580 25,449 7,450 25.449 7,450 2,580 32.899 35,479 6. INCOMINGIIOUTGOINGI RESOURCES Year to 31,07 24 Year to 31.07.23 Net resource5 are stated after chargingl Icreditingl.. Independent examiners fee 2,580 1,580 7. TRUSTEES, REMUNERATION AND BENEFITS There were no Trustees, remuneration or other benefits for the year enijed 31 July 202412023.. ENIII Tru5tee5' expEnses During the year. the Charltable Company paitl £Nil for costs in respect of Trustee512023.. £NS11 Page 17
MATHSMAKERS NOTES TO THE FINANCIALSTATEMENTS- CONTINUED FOR THE YEAR ENDED 31 JULY 2024 & ANALY515 OF STAFF cosrs 31.07.24 31.07.23 Salary Pension cost 24,890 559 25,449 16,461 281 16.742 The average number of employees during the yearwas 112023.. 11. No employee eamed more than £60,CM)O in the year. 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.07.24 31.07.23 Prepaid expenses Tax recoverable Other debtors 249 45 3.750 904 4,699 722 971 10. CREDITORS: AMOUWtS FALLING DUE WITHIN ONE YEAR 31.07.24 31.07.23 Accrued expenses Deferred Income (see note 111 4,270 1,893 8,480 10,273 4,270 11. DEFERRED INCOME 31.07.24 31.07.23 As at l Au8U5t 2023 Released in the year to income earned from charitable activities Inctsming resources deferred In the year At 31 July 2024 8,480 18,4801 35.712 135,7121 8,480 8,480 Deferred income brought forward comprises of £4,000 ol grant moniès that was received in adv8nce from secring Success to deliver maths intervention in 5choD15 for disadvantaged students who need additional help with their maths learninB In the 2023124 school year. Also included in delerred Intome brought forward is £4,480 of tuition tees that was received in advance for the Autymn 2023 programmes at Rooks Heath. 12. TAXATION As a registered chèrity. Mathsrnakers is potentially exempt from taxation of income and galns falling within section 505 of the Income and Corporation Taxes Act 1988 and section 256 of the Taxation of argeable Gain Art 1992. No tax charge has arisen in the year. Page 18
MATHSMAKERS NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 JULY 2024 13. MOVEMENT IN FUNDS IncomSng Resources Outgoing ReSoUrS At 31.07.24 At 01.08.23 Restricted funds 4,125.00 28,000 132,1251 General funds 47,410 90,777 198,2001 39,987 TOTAL FUNOS 51,535 118.777 1130,3251 39.987 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS General funds Re51rlcted funds Total Current ass&ts Crediiors 44,257 14,2701 39,987 44,257 14,2701 39,987 15 FUNDS A53t 01.08.23 Incomin6 Resources Out8oing Resources Asat 31.07.24 General funds 47.410 90.777 198.2001 39,987 Restrlrted funds: Rooks Heath School August 2023 2.5CX) 12.5001 Nower Hill School Autumn 2023 5,5(KJ 15,5001 Rook5 Heath School Auturnn 2023 5,000 (s,0} John Lyon's Charity sponsored programmes 4,125 15,000 119,125 51,535 118,777 1130,3251 39,987 Page 19
MATHSMAKERS NOTES TO THE FINANCIALSTATEMENTS- CONTINUED FOR THE YEAR ENDED 31 JULY 2024 16. RESTRICTED FUNDS Rooks Heath School August 2023 The fund relates to a grant from Deo Duce to Mathsmakers to provide a summer maths tuition programrne for the Students of Rooks Heath School forthe period ending 31st August 2023. Nower Hlll School Autumn 2023 The fund relate5 to 8rant5 from London Freem2sons' Charity and The Masonic Charltable Foundation to Mathsmakers to help prade free Maths online tutoring sèssions to disadvantaged children. Rooks Heath Autumn 2023 The fund relates to grants from Securing Success and Tesco Groundwork UK to Mathsmakers to work with students at Rooks Pleath School in the Autumn term 2023. John Lyon's Charlty sponsored programmes The fund relates to grants from John Lyon'5 Charity to Mathsmakery to work with young people from the Barnet, Brent, E31ing and Harrow are35 in the period September 2022 to August 2024. 17. RELATED PARTYTRAN5ACTIONS. Donations received from related partie5 (Trustees) during the yeartotalled £12,500 including Gift Aid recovered12023'. £43.7501. Page 20