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2025-03-31-accounts

Charity registration number 1187045 (England and Wales)

INSPIRING TEACHERS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRING TEACHERS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

V West G Stead T Lancaster (Appointed 15 May 2024)

Charity number

1187045

Registered office

Independent examiner

Quill Cottage Marsh Lane Taplow SL6 0DF Ms J Boatfield FCA, DChA Ensors First Floor Victory House, Vision Park Chivers Way, Histon Cambridge CB24 9ZR

INSPIRING TEACHERS

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 16

INSPIRING TEACHERS

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's Memorandum and Articles of Association, the Charities Act 2011 and "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) (effective 1 January 2019)".

The trustees have referred to the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning the charity's future activities and believe that the activities of the charity clearly demonstrate a direct public benefit.

Objectives and activities Organisational Context

Inspiring Teachers is an evidence-driven nonprofit taking a systems approach to empowering teachers across Africa with practical tools that help them deliver strong foundational learning.

Our long-term ambition is to provide a platform that enables public education systems to launch and run programs that help teachers guarantee foundational learning outcomes for millions of children in sub-Saharan Africa.

Over the last year, we strengthened and expanded our Tools for Foundational Learning Improvement (TFLI) approach, extending Inspiring Reading (our literacy-focused structured pedagogy) and shifting to a model in which our program staff support government officials in implementing successful programs using the materials we provide, as well as SmartCoach and dashboards. Under this model, our team provides support rather than fronting delivery.

Our strategy remains to create and demonstrate the potential of tools that make great teaching easier, reduce the burden on educators, and enable simple feedback loops so that learning data reliably triggers action at the classroom, school, and system levels.

As of January 2026, Ghana remains our strongest foundation for scale. We have expanded our work to 139 schools in the Central Region, including 56 low-fee private schools and 83 government schools. Alongside this, we have continued to develop our Tools for Foundational Learning Improvement approach, deepening partnerships and learning that will support further scale and stronger outcomes over the coming years.

INSPIRING TEACHERS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Over the last year, we achieved significant progress in several key areas:

Program Development and Scale:

SmartCoach platform development

Research and partnerships

Organisational development

Inspiring Teachers is making steady progress toward impact at scale, and our ambition remains to support learning gains for millions of children by 2035. The progress we have made in Ghana through government partnerships and the continued strengthening of our tools and partnerships demonstrates that combining structured pedagogy, practical coaching routines, and technology can improve learning outcomes sustainably and cost-effectively.

We are grateful for the support, partnerships, and hard work that have made this progress possible. We extend our thanks on behalf of our team and the teachers and families our programs serve to our funders and partners. In particular, we were grateful for the support of the IDP Foundation, the Peter Cundill Foundation, the Windfall Trust, the Mulago Foundation, the Prevail Fund, and the Dovetail Impact Foundation.

We are proud of our team and grateful for their hard work and ingenuity. We are also grateful to our trustees for their stewardship.

INSPIRING TEACHERS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Outlook

Inspiring Teachers is now increasingly positioned to keep growing towards making an impact at scale over the coming decade. The progress we've made this year demonstrates that our approach of combining practical teacher support with technology can transform educational outcomes. We have a long way to go to realise the potential of this approach and our vision. Still, we remain committed to making world-class teaching a reality in African schools through more practical, empowering, and cost-effective approaches to teachers and school leaders.

We are tremendously grateful for the generous support, partnerships and hard work that have made our year's progress possible. Particular thanks — which we extend on behalf of our team and the teachers and families our programs are making a difference for — are due to the IDP Foundation, who have backed our program in Ghana, The Bisconti Foundation, the Windfall Trust and Peter Cundill Foundation who provided unrestricted support and Global Schools Forum who are backing us to make Impact at Scale accelerator Program.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities. At the same time consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year, but the trustees are working towards achieving this.

Total incoming resources during the year amounted to £394,962 (2024 - £296,413).

Net outgoing resources for the year were £404,553 (2024 - £272,706).

At the year end there was unrestricted funds of £9,208 (2024 - £18,799). The Charity's reserves had a deficit of £8,455 (2024 - £6,758 surplus).

The three most significant risks the organisation faces are:

  1. Ensuring the impact and efficacy of our programs and

  2. Securing enough funding to deliver our vision,

  3. Bringing together and keeping together the right group of people to deliver the vision.

We manage and aim to mitigate these risks by:

  1. Aiming to use an "evidence in, evidence within and evidence out" approach to ensure our programs are effective. We draw on the latest research as we design the program. We embed mechanisms for gathering data from implementation as a byproduct of program delivery and intend to, at the right time, work with external partners to evaluate the efficacy of our programs.

  2. Taking a diversified approach to fundraising and income generation. We generate membership income from teachers who contribute to our work through our Fellowships, receive revenue from consulting projects, and raise unrestricted grant funding. During the period, we used loan financing. We intend to transition to a combination of earned income, unrestricted funding and as the "market for impact" develops - outcomes funding.

  3. Demonstrating a strong commitment to our work during this period. The core team members' combined skill sets and insights have been the key determining factor to the organisation's strong performance in navigating the challenges of the pandemic and developing innovative tools and programs. We intend to retain key people, increasingly transitioning them from being contractors and volunteers to, where appropriate, being employees.

  4. 3 -

INSPIRING TEACHERS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity has considered its working capital requirements for a period of 12 months from the date of signing these financial statements. Whilst the charity has negative reserves at the date of the accounts, the charity has received assurances from its main creditor that funds will only be called in as the charity is able to meet these calls. Additionally we generated incoming resources during the year and our financial position has further improved since year end.

On that basis, the trustees have adopted the going concern basis of accounting in preparing these financial statements.

Structure, governance and management

The charity is a Charitable Incorporated Organisation. Its governing document is the constitution adopted on 19th December 2019.

The trustees who served during the year and up to the date of signature of the financial statements were:

V West G Stead T Lancaster (Appointed 15 May 2024)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

We onboard new trustees by introducing them to our policies and working principles. Where possible, we intend to create opportunities for our trustees to visit our programs and meet with our partners and beneficiaries.

We are committed to delivering high value for money programs and believe that doing so will demand building and retaining a solid team who receive competitive compensation. Our approach to ensuring this is to build relationships with philanthropic investors who believe strongly in our cause and in the importance of effective management and strong teams.

The trustees' report was approved by the Board of Trustees.

Geoff S Geoff S (Apr 16, 2026 12:29:37 GMT+1)

..............................

G Stead Trustee

16/04/2026 Date: .............................................

INSPIRING TEACHERS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INSPIRING TEACHERS

I report to the trustees on my examination of the financial statements of Inspiring Teachers (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity 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 charity’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

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.

Jo Boatfield (Apr 16, 2026 16:46:46 GMT+1)

Ms J Boatfield FCA, DChA

Ensors

First Floor Victory House, Vision Park Chivers Way, Histon Cambridge CB24 9ZR

16/04/2026 Dated: .........................

INSPIRING TEACHERS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
3
200,392
117,067
Charitable activities
4
71,394
-
Investments
5
1,814
-
Other income
6
4,295
-
Total income
277,895
117,067
Expenditure on:
Charitable activities
7
287,486
117,067
Total expenditure
287,486
117,067
Net income/(expenditure) and
movement in funds
(9,591)
-
Reconciliation of funds:
Fund balances at 1 April 2024
18,799
-
Fund balances at 31 March
2025
9,208
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
317,459
214,645
69,484
71,394
10,899
-
1,814
1,385
-
4,295
-
-
394,962
226,929
69,484
404,553
203,222
69,484
404,553
203,222
69,484
(9,591)
23,707
-
18,799
(4,908)
-
9,208
18,799
-		 Total
2024
£
284,129
10,899
1,385
-
296,413
272,706
272,706
23,707
(4,908)
18,799

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

INSPIRING TEACHERS

BALANCE SHEET

AS AT 31 MARCH 2025

2025
Notes
£
Fixed assets
Tangible assets
13
Current assets
Debtors
14
4,991
Cash at bank and in hand
814
5,805
Creditors: amounts falling due within
one year
15
(14,260)
Net current (liabilities)/assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
18
16/04/2026		 2024
£
£
17,663
285
35,639
35,924
(29,166)
(8,455)
9,208
9,208
9,208		 £
12,041
6,758
18,799
18,799
18,799

The financial statements were approved by the trustees on .........................

Geoff S Geoff S (Apr 16, 2026 12:29:37 GMT+1)

..............................

G Stead

Trustee

INSPIRING TEACHERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Inspiring Teachers is a Charitable Incorporated Organisation, registed on 19 December 2019.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity 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 charity. 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 charity 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.

1.4 Income

Income is recognised when the charity 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 charity 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 charity 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.

INSPIRING TEACHERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 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:

Fixtures and fittings 10% straight line Computers 33% straight line Motor vehicles 20% reducing balance basis

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 charity 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 charity 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 charity's balance sheet when the charity 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.

INSPIRING TEACHERS

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

1 Accounting policies

(Continued)

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.

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 charity’s contractual obligations expire or are discharged or cancelled.

1.10 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2 Critical accounting estimates and judgements

In the application of the charity’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
23,992
-
Grants receivable
176,400
117,067
200,392
117,067		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
23,992
64,495
-
293,467
150,150
69,484
317,459
214,645
69,484		 Total
2024
£
64,495
219,634
284,129

INSPIRING TEACHERS

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

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Provision of Teacher Development Resources - 10,899
Services provided under contract 26,394 -
Performance related grants 45,000 -
71,394 10,899

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 1,814 1,385
Other income
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net gain on disposal of tangible fixed assets 4,295 -

6 Other income

INSPIRING TEACHERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities

Charitable Charitable
Activities Activities
2025 2024
£ £
Direct costs
Programme costs 91,980 84,670
Consultancy 170,439 95,940
Sundry expenses 1,800 502
Professional fees 101,792 52,540
Subscriptions 5,538 5,341
Travelling 17,271 19,963
388,820 258,956
Share of support and governance costs (see note 8)
Support 11,473 9,370
Governance 4,260 4,380
404,553 272,706
Analysis by fund
Unrestricted funds 287,486 203,222
Restricted funds 117,067 69,484
404,553 272,706
Support costs allocated to activities
2025 2024
£ £
Depreciation 3,180 3,247
Bank charges 893 1,737
Telecommunications 2,929 3,345
Printing, postage and stationery 3,663 183
Conference costs 808 858
Governance costs 4,260 4,380
15,733 13,750
Analysed between:
Charitable Activities 15,733 13,750

8 Support costs allocated to activities

INSPIRING TEACHERS

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

9 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 4,260 4,380
Depreciation of owned tangible fixed assets 3,180 3,247
Profit on disposal of tangible fixed assets (4,295) -

10 Trustees

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

11 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Total - -

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.

INSPIRING TEACHERS

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

13
Tangible fixed assets
Fixtures and
fittings
Computers
£
£
Cost
At 1 April 2024
5,227
8,669
Additions
-
1,299
Disposals
-
-
At 31 March 2025
5,227
9,968
Depreciation and impairment
At 1 April 2024
1,764
3,340
Depreciation charged in the year
523
2,478
Eliminated in respect of disposals
-
-
At 31 March 2025
2,287
5,818
Carrying amount
At 31 March 2025
2,940
4,150
At 31 March 2024
3,463
5,329
14
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Notes
Deferred income
16
Other creditors
Accruals
16
Deferred income
Other deferred income		 Motor
vehicles
£
6,859
10,752
(6,859)
10,752
3,610
179
(3,610)
179
10,573
3,249
2025
£
4,313
678
4,991
2025
£
-
10,000
4,260
14,260
2025
£
-		 Total
£
20,755
12,051
(6,859)
25,947
8,714
3,180
(3,610)
8,284
17,663
12,041
2024
£
-
285
285
2024
£
5,371
19,715
4,080
29,166
2024
£
5,371

INSPIRING TEACHERS

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

16 Deferred income

(Continued)

Deferred income is included in the financial statements as follows:

Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2025		 2025
£
-
5,371
(5,371)
-
-		 2024
£
5,371
5,380
(2,608)
2,599
5,371

Income relating to teaching programmes is initially deferred, then recognised to match it with the period it relates to.

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 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
Global Schools Forum - 30,300 (30,300) -
Innovation for Poverty Action - 28,050 (28,050) -
JPAL Learning for All - 58,717 (58,717) -
- 117,067 (117,067) -
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
IDP Foundation - 69,484 (69,484) -

INSPIRING TEACHERS

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

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 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
General funds 18,799 277,895 (287,486) 9,208
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds (4,908) 226,929 (203,222) 18,799

19 Related party transactions

Transactions with related parties

During the year a member of key management personnel was paid £59,996 (2024: £49,331) for services provided to the charity.

At the balance sheet date a member of key management personnel owed the charity £4,313 (2024: £nil). The amount is unsecured and no interest is charged on the loan.