REGISTERED COMPANY NUMBER: 08898749 (England and Wales) REGISTERED CHARITY NUMBER: 1183887 MATHSMAKER5 (A compunyllmitedby quornnteej REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JLILY 2025 MATH5MAKERS IREGISTERED COMPANY NUMBER U88987491 (A compcrny Ilmltedby gvuranteej CONTENT5 OFThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31JULY 202S Pa6e Company information Report of the Trustees 2-11 Indèpe)xlent Examinèr's Report 12 ststement of Financial Activitles 13 Balance Sheet 14 Notes to the Flnanclal Statements 15-21 MATHSMAKERS IREGISTERÉO COMPANY NUMBER U88987491 IA tomponylimttedljyouorantee) REFERENCE AND ADMINISTRATION INFORMATION FOR THE YEAR ENDED 31 JULY 2025 Tru5t?e5 Helena Mullins (Founder. Executive Director) Michelle Lee IFounder, Treasurer) Rachel Wright (Chairl Mine Bayar Tasmin Grosvenor Lara Stanley Independent Exarnlner M Koureas FCCA Hetheiington and Co 289 Green Lar*es, Palmers Green London N13 4XS Banker5 SanE£nder UK plc Bridle Road. Bootle Mer5eyside L30 4G8 Prlneipal office and resistered office addre$5 658 Finchley Ro•J London NWII 7NT Registered ¢harity number 1183887 ReBtstered company number 08898749 (England a￿1 Wale51 Page I MATHSMAKERS (REGISTERED COMPANY NUMBER 088987491 {A company limited by guarantee) TRUSTEES. REPORT YEAR ENDED 31 JULY 2025 TheTrustees are pleased to presenttheir report and the unaudited financial st8tements for thè yÉar to 31st Julv 2025. The ￿ference and administrativè information set out on paEe I forms part of this report. The Charitable Companyobtained charitable status from HMRC on 2- May 2019 and on 13th June 2019 was regISte￿d as a charity with the Charlties ComMi￿10n Icharity number 11838871. The Charitable Company ha5 prepared its accounts to comply with its Memorandum and Articles Df Association and in accordance with the'Accounting and Reporting by Charities,: Statement of Recommended Practice 8pplicable to Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 (effective 151January 20151, the Companles Act 2006 and the Chaiities Act 2011. Chalr's Foreword The 2024-25 year has been one of continued progre55 and development for Mathsmakèrs. The charity has further strengthened its position as a leading advocate for supporting disadvantaged children in North West London to irnprovetheir understanding of. and engagement with. maths. During the year, Mathsmakers expanded its school-based OLrtreach and began developing new partnerships wlth organisations that share ourv31ues and objectives, including Harrow Carers and Barnet Carers, The5E partnerships enhance our 3bility to support children and families more effectivelv. Despite 3 challenging fundraising envir(>nment across the charitable sector, we are pleased to have secured several lon8-term funding commitments. We are grateful to john Lyon's Charity. Sgcuring Sutcess, Deo Duce. 8C Capital and Young Harrow Foundation for their continued sUPPOrt and confidente in the work of Mathsmakers. Looking ahead, the charity plans to increase the nurnber of schools it supports whlle further stren8thenin8 Its or8anisational structure. During the coming year, the Board will review and rellne board roles and committee arrangements to ensure robust 8overnance and effective oversight. In additlDn. Increased financial stability will enable the charityto strengthen its operational capacSty, includingthe proviyon of additional support for the executfve team. The Trustees recognise that MathsMaker5 continued success and growth arè the result of the dedlcation and hard work of all those Involved in the day-to-day running of thÈ charbty. In particulai, the Tru5tee5 Wish to acknowledge the leadership of the executtrve team, led by Helena Mullins, alldthe ongoinE commitment 3nd professionalism of the ch3rity's tutors. Thè Board remains confident that Mathsmakers is well positioned to build on its achievements and continue deJlverin£ posltive outcomes for the children and commun￿125 serves. Page 2 MATHSMAKER5 IREGisfERED COMPANY NUMBER 088987491 IA company Ilmlted by8uaranteel TRUSTEEY REPORT YEAR ENDED 31 JULY 2025 Stru¢tuM. govèmante and mana8ernent Governing Document The Charttable Company 15 governed by its Memorandum and Articles of Assoclatlon and is a Company limit£d bv 8uarantee with no share capital. Trustees A Trustee is a member of thÈ BDard of Trustees of the Charity and a Director forthe purposes of the Companies A¢t 2006. The Charity's Scheme of Dele8atlDll sets ovt the respective iesponsibilities of the Mathsmakers Board of Trustees and its Executive Director. These responslbSl¢ties are in accordance with charity law and the principles set out Sn the Mathsmakers Q)nstitution IArtlcles of A550ciatlDnl. The current Scheme of Delegation came into force on November 8, 2024 and is subject to review by the Board on an annual bas1S. The Board of Trustees. which 15 the governin8 bodyi is responsible for the overall strategic dirertion of the charity. Trustees dele8ate the d3y-tO-day running of Mathsmakers to the Executive Director. goard mernber5 receNe no rèmuneration or financial beneffit5 for their time and Meet 6-7 times a year. Through online advertisin8 and trustees, networklng connection5, new trustees are recruited to the MathsMaker5 Board, taking into account the experience and ski115 required by the charfty. Potentlal trustees are Interviewed by the Executive Director and Chair of Trustees. and also by 3t least one othertru5t2e. Their appointment tllust be agree(I by all other trustees. Once in place, trustees are required to read the charity's policies18lvin8 Particular attention to those relating to safeguarding and child protectlonl and guidance from the Charity Commission to help them develop a clear undèrstanding of their role and responsibilities. New trustees also undertake mandatory Level 2 safeguarding tralning and are invited to attend one of the charity's maths sessions as an observer. Trust￿ contribute to, and are responsible for, the delivery of the annual development plan and risk reglster, which includes points on risk5 around strate8y and reputation, governance, staffin& students, financial and data management. The risk register is revlewed a bi-annual basis and trustee5 agree policies and practices that need to be in place to manage the identified risks. The biggest current risks are around failing to secure new funding lor loslng existin8 fun(lingl. not being able to recruit Schools to partner wf(h. losing Instructo￿ and demands on the Executlve Directorfs time. Every trustee and staff member ha5 an up-to-date Disclosure and Barring Servicè IDBS certsficate. In 2024125. there wert no new trustees appointed. A new 5trurture was put into place. includtn8 the creation of four sub.committees that oversee particular aspetts of the charity's worL speclflcally marketing and fundraisin& 5taffin& finance. and schoo15 and pro8rammes. The sub-committee5 meet on an ad hoc basis,. however In 2025126 the charhy is loowng to forrnalise how the subr their child, wSth many reporting that their child Idt more confldent in [￿ath5. Sornefeedback from parents Include5'. My son has improved a lot in maths and it's evldent In hls last rnock result" "It helped him In preparing for SATS. He lea¥ned new methods and his speed increased- "Le3rning in a small group sesslon Igroup of 41 wa5 very useful. The teacher was able to pav attentlon to all of the partlcipants. The teacher's teaching style was great." Page 7 MATH5MAKERS (REGISTERED COMPANY NUMBER 088987491 IA tompany nmlted by guaranteel TRU5TEES' REPORT YEAR ENDED 31JULY 2025 'IMy sonl has become more confident ift m2ths. If there is something he hasn't fijlly grasped he can 89 over it with his tutoi, having this trpportunity has meant Ihel is on track with maths instead of béing behind as he approaches GCSE5." l Ereatly appreciate all the hard work your team 15 putrting into ensuring Imy daughterl is at the corrett level. She is thoroughly enloying the course and I perstsnally feel the additional work has Improved her under5tandin8 of math principles. Thankyou once again. 'IMy sonl got 3 6 lin hi5 GCSEI and was very pleased. The programme definitely helped him achievethat result.. Schools also $8w measurable imprtsvements in SATS and mock GCSE ￿sUItS. Data from one xhool Mathsmakers worked with showed 39% of students who were predicted to fall. passed. 43% of Students whole We￿ predicted a'Grade 4, scored higher than this, and 43% of students secured Grade 5 or higher. Some feedback from schools includes 'Yhe results are real and obvlous" "Itht7s been o pleosure to work WFth Mothsmakersfvr thepost two yeor& Wv hpve seen thot the pupils who tt7ke port in the course doprogress extremely well in compori50n with theirpeers. I connotpruise this progromme highly enough.. theyore doing excellent work ond we oreproud to be workin9 alongside them." "Heleno Mullin5 ond her teom fvllow high professionol storJL4tsrd5. They Dre committed und possionote in supporting studeAJt5 to reoch theAr potentiol. The ottention to detoils makes MLrthsAlakers stund out os on orgtsnisotiDn. We ore hoppy with the portnership we hove wlth Mtsthsmokers ond would hlghly recommend their tutorftng proorumme. 'We hove used MothsMakersform(7nyyet7rs now undfind theircornmltment to oursttsdtnt5 and theirprogress commendoble. Students come owoyfrom the5e55ionsfeeling more confidentand motivatedln mathsund reullyuppreciote the time, ottention undsupportprovided." "[ForJ our current yeor 11 students.. .thgre wos u rnt7ssive Improvemenrln the gup between those who tODk Muthsmtskers and those who dFdnotfor the spring ussessment (mock poper) the nitiolmocks. For the year 10 cohort there Is o cleorshortenFng of the gop between those who did MOth5make￿ and those Who did not. The difftrence in this gup between outumn (pre- Mothsmakersl ondsummer {post-MathsMokersJ 15 12%. In yeor 10, the impart and effettiveness of Moths Moker5 WOS oPPL[￿￿t ond obvious." Pa8e 8 MATHSMAKERS {REG15TERED COMPANY NUMBER 088987491 IA compdny Ilmlted bygyarantee} TRU￿EE5. REPORT YEAR ENDED 31 JULY 2025 Successe$ Mathsmakers continued to worktoward5 a¢¢reditatlon wlth external partners. After ri8orou5 external evaluation, it became an Approved Tuition Partner within the Depèrtrnent for Education National Tutoring Programme,. exceeding expectations in several categories, induding'auality of provision','Quality of t￿oring,. 'Quality of 5UPPOrt Ifortutorsl., and'Partnerships/ collaborations with Schools,. MathsMaker5 also completed additional reoulrements as part of its work toward5 the Youn8 People'5 Foundation Trust Quality Mark, 5pecifirallythose relating to 'Creative Te3ching and Learnin8' and 'Student Voice,. Mathsmakers achieved the Quallty Mark in June 2025. Both the above accreditations are significant achievements for the charity. and will help wlth securln8 additional funding and partneTship5 With schools, as well as targeting the youth S￿tOr in a nKJre effettive way. The charffcy continued to dèvèlop strong neiworks and part￿rShIPS wtth schools and community organisations across North W&t London,. with the airn of buildlng knowledge of the settor, establishing the Drganisation's credentials and irnpact with local organi5ations, and securing r￿Ure funding for progfammes. Thi5 included vi51ts to supplementary schools. attending the BametTogether Alliance conference and jolning the North West London Chamber network meetings. As a result of network building, Mathsmakers incieased the number of programmes wlth prlmary schools. All Mathsmakers pro8rammes are delivered by a team of highly qualified and experienced maths teathers d tutors. During 2024125. staff engagement ￿MaIned strong, with a very low attritlon rate amongst tutDf5. This was the we despite some tutors having less work due to a rèduttion in programmes. Staff continued to receive training and professional development on a variety of subjects iniluding safeguardin& supporting students with SEND, and teachSn8 for misconceptions. One instructor attendèd the Complete Maths Conferencè and shared resources with other5 In the team. The charity maintained a team of 12 Instruttors aThJ iecru(ted a new Programme Adminirtrator who joined in July 2025. Marketlng and fundraL8lnB materials improved significwitly following recommendation5 from the Board and f￿USed work frorn the Programmè Manager. thu5 developing Mathsmakers visibility and presence, and svpporting the recruitment of new funder5 and schools. Since launching a consistent blog and soclal media schedule in September 2024 (coinciding with the start of the school yearl, Mathsmakers is on track io quadruple its p05ting frequency. This approach resulted in a 22% increase in unique website wisitor5 (August 2024- July 2025 vs August 2023- July 20241, nearly all of whi)m198%1 were new. The expanded digital presence is suctessfully broadening our M8thsMakers reach to new audiences. New matetia15. such as a corporate sponsorship p%l have a15tr been developed. Page 9 MATHSMAKERS (REGISTERED COMPANY NUMBER ￿￿898749] IA company limlted byguaranteel TftU5TEES' REPORT YEAR ENDED 31 JULY 2025 Challenges As was the case for most chafities in 2024125, the fundin8 landsrape continued to be challenging, and this had an impact on the number of students Mathsmakers was able to work with. The loss of NTP funding for schools, increased competition for grants and corporate sponsorships, and c05t-of-living pressures all contributed to reduced funding opportunities and the need to offer free or reduced-cost pro8rammÉs. However. the charity continues to look for new funding revenue5 (such as The Big Givèl and 5UStain existing strearns (such as funding frorn John Lyon's Charity) as it hea(Is into 2025126. It has als(Tr added a Oonate option on the website and begun reaching out to local businesses as ptktential corporate partners. Partly due to Covld. there was an increase in demand for online programmes over the past few years. This has shifted. wtth fundeis and schools wantlng more in-person programmes. Thi5 raises challenges with tutor and mentor availability. as many tutors are full tlme math5 teache￿, and mentors need to balance their time 3rDund their own exams. It is a150 more expensiveto run in-person programmes as the numbei of studenis registered by each school tends to be smaller Ith3n in the case of onllne proÉramTne51. Having few students per school and a larger number of schools requSres more Iministrative support from the Programme Mana8er and Programme Administrator. However, in-peT50 programmes tend to have 8reater irnpact on stsjdent progress. There were two safeguardln£ ¢oncern5 raised in 2024125- one by a pa￿nt, and one by a tutor. These were both dealt with promptly. Atcurate records of the incidents and hDW they were dealt wth are on file. Desplte the challenges MathsMaker5 faced in 2024/25, it enters 2025126 in a stable financial position with sorne exciting opportunrties to help develop its work. Lookln8 Ahead to 2025126 Prioritles for the upcorningyear rern8in similar to 2024125. The fundinE landscape wlll continue to remaln competitive 50 there wlll be a focus on diver51fylng income streams. such as applyin8 to participate in Big Give rnatched-funding opportunities and continuing to seek corporate partners. Maint8ining strong relationships with exTst1ngfunde￿ such asjohn Lyon's Charity and 8C Capltal will also be importanL To more effectwejy demonstrate and promote its work ￿th potential new partners, MathsMaker5 wlll develop its Impart measurementframework and continue to bulld on its >clal medla 5torytellln8 and marketlng materlals. Dvring April-october 2025, we are working with a volunteer alliliated with Media Trust to help with thi5. Developlng partnershlps with new schools and comrnunity org3nisatlon5 so 6t can reach a 8reat number of disadvantaged students wlll remain a priority. Prograrnmes will need to continue to flex and adaptto schoollorganisatlorl requirements. Page 10 MATHSMAKERS IREGISTERED COMPANY NUMBER 088987491 IA tornpany Ilmlted by8uaranteel TRUSTEES. REPORT YEAR ENDEO 31 JULY 2025 The rf5e of ￿ brings many challen8e5 and opportunities for charities 3nd the tutoring sector. Mathsmakers will continue to build its understanding of the Al landscape throu8h fDCUS group5 and research,. and adapt prograrrme5 and approaches accordingly, including provÉding additional training for Staff and instwctors. Flnantial Revlew The results for the year are set out on page 13. Ftsr the period under review the Charitsble Company's princip31 sources of Income derived from grants recwved from charities and foundation5, donations from supporters and via tukion fèès. Total income generated for the period was £82,52012024'. £118,777) of which £60.338 related to general fund5 and £22,182 related to iestrfjtted fund5. For the year undw revlew expendituretotslled £95,610 of whSch £73.428 was Èxpended from 8eneral funds and £22,182 from restricted funds. The r£5uIts in overall terms show a deficit of incomè over expenditure of É13,09012024- deficit £11,5481. At the year- end date, genernl reserves stood at E26.897. Restricted funds were fvlly expended. Reserves Pollcv The Charitable Companys aims are to ensure that donated funds are utilised to support academic and student initiatives. Consequently, the Charltable Company retains a small level ol reserves sufficient to mÈet it5 Statutory obligations and day to day requirernenls and p8y salaried employees. It does not pay premises costs. Srnall company provlslons The above report has been prepared in at¢ord4nce with the speclal provisions of Part 15 of The Comp?nies Act 2006 relating to small companie5. Approved and authorised for issue by the Board of Tnjstees on 11 February 2026 and signed on its behalf by.. achel Wright (Chairl Page 11 INDEPENDENTEXAMINER% REPORTTOTHE DIRECTORS OF MATHSMAKERS I report to the coM￿nY Directo￿ on my examlnation of the accounts of Math5Makers forthe year ended 31 July 2025 set out on pages 13 to 21. ReSponS￿lI1￿e$ and basls of re￿rt As the Compahy's Directors land also its Trustee5 for the purposes of charity lawl you are responsible for the p￿paration ol the accounts in accordance with the reouirernents of the Companie5 Act 20061.the 2006 Act'l. Having satisfied rnysell that the accounts of the Charitable Compary are not required to be audited under Part 16 01 thè 2006 Act and 3re eligible for independent examination. I report in respect of my examination of your Charity's accounts 85 carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have ftjllowed the Directions given by the Charity Cornmi55ion under sethon 145(51 Ibl of the 2011 Act. Indepwdent ￿mIner'S ststement I hwe completed rny examination. I confinn that no matter5 have cometo my atten￿On In connecdon wlth the examination giving cause to believe= - accounting record5 were not kept in respect of the Charitable Company as Tequired by section 386 of the 21J)6 Act,. Dr -the accounts do not accoid with those records.. or -the accounts do ngt comply with the accounting requirements of Section 396 of the 2006 Act otherthan any requirernentthat th2 account5 give a 'true and fair view which 15 not a rnatter considered as part of an independent eXamIna￿on,. or the accounts have not been prepared in accordance with the method5 and princlple5 of the Statement ol Recommended Practice for ￿COunting and reporting by charities. I have no concerns and have tome across no (rther matten In connection with the examination to which attention should be drawn in this report In Order to enable a proper under5Eandin8 of the accounts to be reached. M Koureas FCCA Hetherin8ton & Co Chartered Ce￿fied Accountsnts Second Floor, 289 Green Lanes, Palmers Green London N13 4XS Date.. 11 FEbruary 2026 Page 12 MATHSMAKER5 srATEMENT OF F114ANCIALACTJVITIES (INCORPORATING AN INCOME AND EXPENDrruRE ACCOUNTI FOR TIE YEAR ENDED 31 JULY 2025 Yearto Year to 31.07.25 31.07.25 Unrestritted Restricted fund fund Yearto 31.07.25 Year to 31.07.24 Totsl Total Notes INCOMEAND ENDOWMENTS FROM: Don2tions and Legaci¢5 32,673 22.182 54,855 46,852 Other Trading Activities 27,665 27,665 71,925 Total Income 0,338 22,182 82.520 118,777 EXPENDITURE ON.. Charitable activities 73,428 22,182 95.610 130,325 Total expenditure 73,428 22.182 95,610 130,325 Nrr INCOME I IEXPENOITUREI FOR THEYEAR 113,0901 I13,0￿> 111,5481 RECONCILIATION OF FUNDS Total fund5 brought forward 39,987 39.987 51,535 TOTAL FUNDS CARRIED FORWARD 26,897 26,897 39,987 Page 13 The notes fom part of these financial statements MATHSMAKERS (REGISTERED NUMBER.. 088987491 BALANCE SHE AT 31 JULY 2025 Asat 31.07.25 Asat 31.07.24 Notes FIXED ASSETS Tarbgible a￿ets io 366 CURRENT ASSETS Debtors Cash at bank li 346 38,799 39,145 971 43,286 44,257 CREDITORS Amounts lallin8 due withln one year 12 112.614 4,2701 NET CiHIRENT ASSETS 26.531 39.987 TOTALASSEfs LE55 CURRENT UABILITIES 26,897 39,987 NET ASSEts 26,897 39.987 FUNDS Unrestrirted fund5 Restrirted funds TOTAL FUNDS 14 14 26,897 39,987 26.897 39,987 The Charitable Cornpany is entitled to exemption from audit undersection 477 Df the Cofflpanies Act 2CWJ6 for the year ended 31 Juty 2025. The members hawe not required the Charitable Companyto obtain an audit of its financial staternents forthe year ended 31July 2025 in accordance with Sertion 476 of the Cornpanies Act 2(K>6. The Trustees acknowledge their responsibilities for lal ensuring that the Charitable Company keeps accounting records that comply with Sections 386 and 387 of the Companies 2006 and Ibl preparing financi31 st3ternents whlch give a true and fair view of the state of affaSrs of the Charitable Company 3s at the end of each financial year and of it5 surplus OT deficlt for each financial year in accordance wfth the requirernents of Sections 394 and 395 and which otherwiso comply with the requirement5 of the Companles Act 2006 relati￿ to financial sratements, so far as applicable to the charitable £ompanv. These financial statements have been prepared In accordancè with the special provisions of Part 15 of the Companies Act 2006 relatinE to small companie The financial statements were approved by the Board of Dirertors on 11 February 2026 and were 518ned on its behalf by.. Pa8e 14 The notes forrn part of these financial statements MATHMAKERS NOTESTO THE FINANCIAL STATEMENTS FOR TME YEAR ENDED 31 JULY 2025 I. ACCOUNTING POLICIES The principal accounting polictes, all of which have been applied consIStent￿ throu8hout the year, were as follow5=_ 1.1 83sis of Accountlng The financial statements have been prepared in accordance with the Accounting and Reporting by Ch8rities'. Statement of Recommended Prattice applicable to Charities preparing their account5 in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffÉttive 1st January 20151. the CompanSes Act 2006 and the Charitle5 Art 2011. The Charity meet5 the definition of a publlc bènèfit entity under FRS 102. Asset5 and liHbili(ies are initially recoEnised at historical cost or tran5artion value unless otherwise stated in the relevant notÈlsl to these attounts. 12 Golng Con￿rn The Trustees have assessed whetherthe use of th2 goin8 con£em ba515 is app¥opriate 3nd have considered Possible events or Conditio￿ that might ¢a5t doubt on the ability of the Charitable Companyto contlnue a5 a 80ing concern. Havln£ assessed the Charity's future cashflows an(J projettions, the Trustees have concluded the Charity has sufficient resources to continue in operational existence forthe foreseeable future and consequently appropriate to continue to adoptthe going concern basis in preparing Its financial statements. 1.3 Income Voluntary income Including donations, 8lfts, legacies OF grant5 frorn various individuals. corporations and charitable foundations are recDg1115ed where there is entr(lemenL any conditions attached to the iternlsl gf income h￿e been mèt. it is probable that the income will be received and the amount can be measured reliably. Such incorne is only deferred when.. al The donor specifie5 that the grant 01 donation must onty be used in f￿Ure accounting periods. bl The donor has Imposed conditions which must be met before the charity ha5 unconditlonal entitlernent. Income 8enerated from fund raising events is recognised when earned. Income tax recoverable in relation to donations received under gift aid or deeds of covenant is reco8nlsed at the tlme of the donation. All incomin8 resource5 are reported gross before expense5. 1.4 Donated servlces and facilities Donated services and donated facilities are recognised as incomewhen the Charitable Company ha5 control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charitable Company uf the item 15 probable and that Economic benefit can be measured reliably by the Direclors ￿￿n8 best estimates. 1.5 Expendlture and Irrecoverable VAT Expenditure ts recognised once there 15 a legal or constmttlve obligation to make a paymentto a third party, it 15 probable that settlernént will be required and the amount of the obligation can be measured reliably. Expenditure is classified underthe following activity heading5'. Cosl of raisin8 funds are those costs incurred In attracting voluntary income. Expend￿ture on charrtable activities includes all direct costs irKurred to furtherthe purpose of the Charity together with associated 5UPPOrt Costs. Other expenditurè repre5ent5 those items not falling into any other heading. Irrecoverable VAT 15 charged as a cost agalnst the activlty for whlch the expenditu￿ was inCur￿d. P¥e IS MATHSMAKERS NOTESTO THE FINANCIAL STATEMENIS- CONTINUED FOR THE YEAR ENDED 31 JULY 2025 ACCOUNTING POLICIES- contlnued 1.6 Tax*ion and Mbcellaneou$ As the Company is a registered charity it is not liable to intome tax on its charitable activitie5 land it does not undert8k& any nDn-charitable trading). The Charitable Company is unableto recover VAT, and all expendttur2 15thus stated inclusi¥e of VAT where applicable. other pollcies are explained within the notes on specific aspert5 of the account5. 1.7 Allo¢ation of sUPPOrt costs Support costs are those fuThrtions th3t as51St the work of the Chatrtable Company but do not directly undertake charitable activities. Support costs include office costs, finance and governance costs which support the Charitab12 Company's activitie5. These costs h8ve been apportioned between charitable activitie5 undertaken in the year. The basis on which support costs have been allocated are set out in note 5. 1.8 Yanglblefixed assets Tangible fixed assets are initially measured at C05t and subsequently measured at ¢ost or valuation. net of depreciatbn and any impairment losses. Depreciation is recognised so asto write Dff the cost or valuation of assets le5S their rèsidual values over thelr useful lives on the following ba51S'. Computer Èquiprnent 33.33% stralght line basis 1.9 Cash and rash equlvalents C35h and cash equivalents include cash in hand, deposits held at call with banks, orher short-ten liquid investtnert5 With original maturities of three month5 or less, and bank overdrafts. Bank overdrafts are shown within borrowlngs in current liabilities. 1.10 FlnarKiil instruments The Charitable Company has elerted to apply the provlslons of Section 11 'Basic Financlal Instrurnents, and Section 12'0ther Fina￿la1 Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments ale recognised in the Charltable Company's balance S￿et when the charity becomes party to the contrattu81 provlslons of the instrument. Flnancial assets and liabilities are offset. wlth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the ￿COgnISed amounts and there is an intention to Settle on a net basis or to realise the 855et and settle the liability simultaneously. 1.11 Baslcflnandal a¥ets Basic flnancial assets, whlch include debtors and cash and bank balances. are initially measured attransattlon price including transaction costs and are subsequently carried at amortlsed cost Using the eff￿tIVe interest method unlessthe arrangement cclnstirutes a financing transartion. where the transattion is measureil at the present value of the futUTe receipts dlscount2d at a rnarket rate of interest. Financial assets classified as receivable wlthin one year are not amortised. Page 16 MATHSMAKERS NOTES TO THE FINANCIAL STATEMEKfs- CONTINUEO FOR THE YEAR ENDED 31 JULY 2025 ACCOUNTING POLiaES. ¢ontlnued 1.12 Basic fftnanclal Ilabllltle5 Basic financial liabilr(ies. including creditors and bank luan5 are initially recoBni5ed at transaction pricè unlessthe arrangement constitutes a financingtransaction. where the d&bt instrument Is measured at the present value of the future payments discounted at a rnarket rate of Interest. Financial liabilities classified as payable wfthin one year are not amortised. 1.13 Fund accounting Unrestricted funds are available to spend on activities that further any of the purpos￿ of the Charit3ble Company. Desi8nated funds are unrestricted funds of the Charitable Company which the Trugtees have decided at their discretion to set aside to use for a specific purpD5e. Rest￿Cted funds are donations which the donor has specified are to be solely used for particular areas of the Charitable Company's work or for spe(ific projects being undertaken by the Charitable Company. 1.14 Critical accountlng estimate5 aTrd Judgements In the application of the char￿table Company's accounting policies, the Trustees are requlred to rrake judgernents, estirnate5 and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assoclated assumptions are based on histor5tal experience and other fattois that art considered to be relevant. AEtual results may differ from these estimates. The estlm3tes and underlying assumptlons are reviewed on an ongoing ba51& Re￿510n$ to aciouniing e5tlmate5 are recognised in the perlod Trn which the estimate is revised where the revisioll affects only that period, or in the period of the revision and future periods where the revision affects both currerht and future periods. 2. DONATIONS AND LEGACIÈS Year to 31.07.25 Total Year to 31.07.24 Totsl Unrestricted Fund Restricted Fund Grants Donations 22.182 22,182 32,673 28.000 18,852 32.673 32,673 22.182 54,855 46,852 3. OTHER TRADING A￿1VITIEs Year to 31.07.25 Total Year to 31.07.24 Total Unrestri¢ted Fund Restricted Fund TuEtion Fees 27,665 27,665 71.925 27,665 27,665 71,925 Page 17 MATHSMAKERS NOTESTO THE FINANCIALSTATEMEfrtrs- CONTINUED FOR THE YEAR ENDED 31 JULY 2025 4. CHARITABLE ACTlVtTIES COSTS Year to 31.07.25 Total Year to 31.07.24 Total Olrect Costs.. Tultlon Tutor fees, tuition resources and tTaining Fundralsing and web development Support Costs Isee note 5J 50,794 93,868 978 35,479 44.816 95.610 130,325 For the year ended 31stJuly 2025 the charitable expenditure was E95,61012024.. £130.3251 of whlch £22,18212024.. £32,12SI w35 expenditure from restricted funds. 5. SUPPORT COSTS The Charitable Comgany Initlally identlfies the costs of its support functions. It then identifies those costs whlch relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance t05ts are allocated entirely to tuition, being the Charitable Company's sole actiwty- An analysis of support costs Is wven below.. Other Governance expenses Total Independent examiners feè Salaries and related costs Offlce cost5 1.950 1,950 35,110 7,756 35,110 7,756 1,950 42.866 44,816 6. NET INCOMINGIIOISFGOINGI RESOURCES Year to Year to 31.07.24 31.07.25 Net re9)urces are stated after chargingl Icreditingl: Independent examiners fee Depreciation 1,950 183 2,580 7. TRUSTEES, REMUNERATION AND BENEFITS There were no Trustees. remuneration or othèr benefits for the year ended 31 Juty 202512024.. £Nill Trustees, expenses Durtn8 the year, the Charitable Company paid £Nil for costs in respect Df Trustees12024.. £Nill Page 18 MATHSMAKERS NOTES TO THE FINANCIALSTATeMENT5- CONTINUED FOR THE YEAR ENDED 31 JULY 2025 . ANALVSIS OF sfAFF COSTS 31.07.25 31.07.24 Salary PensK)n cost 34.303 807 35,110 24,890 559 25.449 The average number of employee5 durrng the year was 112023.. 11. No eryployee eamed more than £60,000 in the year. 9. TAXATION As a rewstered charity, Mathsmakers is potentially exempt from taxation of Income and gains falllngw￿hln sÈrtion 505 of the Income and Corporation Taxes Act 1988 and section 256 of the Taxation of Chargeable Galn Act 1992. No tax charge has arisen in the year. 10. TANGIBLE FIXED ASSETS Comwtsr Equlpment Cost: At I Au8USt 2024 Addition5 in the year At 31 July 2025 549 549 Depre¢latlon: At l August 2024 Charge for the year At 31 July 2025 183 183 NÈt bookvalue at 31 July 2025 366 As at 31 July 2024 11. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.07.25 31.07.24 Prepaid expenses Tax recoverable Other debtors 258 249 88 346 722 971 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.07.25 31.07.24 Accrued expenses Social security Deferred Income (see note 131 2.024 590 10,000 12,614 4,270 4,270 Page 19 MATHSMAKERS NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 JULY 2025 13. DEFERRED INCOME 31.07.25 31.07.24 A5 3t l August 2024 Released in the yearto Income earned from charitable actiwties IncDming re50urce5 defe￿ed in the year At 31July 2025 8.480 18.4801 10.000 10,000 Deferred income comprises of £10,000 of grant monie5 that was received in advance from Harrow Givin81£5,0001 and The Draper5' Chartable Fund1£5,(LIOI to deliver online maths sesslons at at Rooks Heath Sthool in 2025126 to support 64 studeTrts tD improve their GCSE attsinment. 14. MOVEMENT IN FUNDS IncominE Resources Out8oing Resgurces At 31.07.25 At 01.08.24 Restricted funds 22,182 122.1821 General funds 39,987 60,338 173,4281 26,897 TOTAL FUNDS 39,987 82,520 195.610 26,897 IS. ANALYSIS OF NEf ASSEtS BETWEEN FUNDS General fund5 Re5triited lunds Total Tan8ible fixed a55ets Cuirent assets Creditors 366 39.145 112,614 26,897 366 39,145 12,6141 26,897 16. FUNDS A5at 01.08.23 Incoming Resource5 Outgoing Resources Asai 31.07.24 General funds 39.987 60,338 173,4281 26,897 Rertrl¢ted funds: Grange Prrmary Children's University Pro8ramme Securin8 Success study 5UPPOrt 18nitE Youth extra-curricular tuition John Lyon'5 Charity sponsored programmes staff Training 1,632 11.6321 13,000 12.000 115.lY)O 15501 2,0Th) ,000 550 39,987 82,520 95,6101 26,897 Pa8e 20 MATHSMAKERS NOTESTOTHE FINANCIAL STATEMENTS. CONTINUED FOR THE YEAFi ENDEO 31 JULY 2025 17. RESTRJcfED FUND5 Grange Primary Chlldren's UnlvÈr$4ty Programme The fund relate5 to grants from Young Harrow Foundation to MathsM3kers to work with students at Gran8e Primary School in Autumn to Summer 2024125 as part of the Children's University Programme. Securlngsuccess study support rhe fund relate5 to a 8rant from Securin8 success to Mathsmak￿s to provide stucty support for students 3t Gran8e Primary and Belmonnt schools In 2024125. IBnlte Youth extra.curri£ular tultlon The fulld relate5 to Brants from Deo Duce Foundatlon to fijnd the delivery of extra-currlcular maths tultion in conjunCt￿n with Ignite Youth john Lyon's Charltysponsored programmes The fund relatesto grants from John Lyon's Charity to Math5Makersto work with young people from the Barnet, Brent, Eallng and Harrow areH5 in the period September 2024 to August 2025 stsff Tralnin8 The fund relates to small grants recelceved from Young Barnet Foundation and Securing Succe55 toward5 DSL level 3 safegua¥dlngtrainlng and Young People Foundation Trusttraining costs. 18. RELATED PARTYTRANSACTIONS. Donations ¥eceived from related parties (Trustees) during the year totalled £3L250 including Glft Aid recovered12024.. £12.5001. Pa8e21