Registered number: 08538560 Charity number: 1189650
THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 - 10 |
| Notes to the financial statements | 11 - 16 |
THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025
| Trustees | Justin Koszmovszky |
|---|---|
| Miriam Sawday | |
| Florencia Estrade | |
| Gilbert Bulloch | |
| Marguerite De Pree | |
| Company registered number 08538560 Charity registered number 1189650 Registered office 14th Floor 33 Cavendish Square London United Kingdom W1G0PW Independent examiner Nicholas Weller FCCA Simmons Gainsford Professional Services Limited Chartered Accountants 14th Floor 33 Cavendish Square London W1G 0PW |
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their annual report together with the financial statements of the The League of Intrapreneurs for the year 1 January 2025 to 31 December 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law.
The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The objects of the charity are to advance education in sustainable business practice and sustainable development for the public benefit, in particular but not exclusively, by a) providing education and training; b) conducting and publishing research; and c) extending the sum of knowledge.
The League of Intrapreneurs' mission is to elevate intrapreneurship as the method for large organizations to conduct business sustainably and ethically, and to find, connect, and support social intrapreneurs globally. Our intrapreneurs come from diverse sectors and geographies, united by a powerful belief that our incumbent institutions play a crucial role in leading us to a prosperous future.
We invest in creating a strong, deeply connected community of practicing intrapreneurs through our Fellowship Program, and we develop, share, and mentor the wider movement through our annual event, Global Intrapreneur Week, and a series of online tools and resources.
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Objectives and activities (continued)
b. Achievements and performance
Main achievements of the Charit y
2025 was a year of strategic growth and investment in the Charity's long-term impact, strengthening its programmes, partnerships and global community of intrapreneurs working to create positive change from within organisations.
A key achievement during the year was the Intrapreneur Leadership Lab in Portugal, delivered in partnership with Nova School of Business & Economics. The programme brought together 20 intrapreneurs from a range of organisations to develop their leadership capabilities while advancing real organisational challenges.
During 2025, significant effort was also dedicated to the design and development of the Action Fellowship, a carefully designed programme supporting intrapreneurs navigating the interconnected challenges of equity, technology and climate. Although the in-person Fellowship commenced in 2026, the majority of its design and preparation took place during the reporting period. This included co-designing the journey with facilitators and faculty members, securing strategic partners and venues, recruiting participants, and establishing the operational foundations for the programme. This investment reflects the Charity's ongoing commitment to developing highquality learning experiences that enable systemic change.
The Charity continued to collaborate with a range of corporate partners to support intrapreneurship and organisational transformation. During the year, programmes and engagements were delivered in partnership with organisations including Philips International, Arm Ltd, Steelcase and Reckitt.
In October, the Charity hosted the sixth annual Global Intrapreneur Week, bringing together more than 600 participants from around the world. The event included 18 online sessions and in-person community meetups, with 30 pro-bono speakers, providing opportunities for learning, knowledge exchange and collaboration across sectors.
Community engagement remained a core priority throughout the year. The Charity continued to host regular Virtual Campfires for its global community, delivered public webinars to broaden access to intrapreneurship, and organised several community dinners in London to strengthen peer relationships and foster meaningful connections.
The Charity also contributed to the wider field of systems change and intrapreneurship through participation in a number of external conferences and events. The CEO of the Charity was invited to speak at ChangeNOW, TEDx, Sustainability LIVE, the Schwab Foundation, Hult International Business School, the University of Toronto, and the House of Beautiful Business, sharing practical insights and contributing to broader conversations on leadership, innovation and systems transformation.
Finally, the Charity continued to invest in its own organisational capability. During the year, the CEO completed the Stand & Deliver Leadership Program, supporting the continued development of leadership capacity to steward the Charity's mission and future growth.
Overall, 2025 was characterised by careful investment in programmes, partnerships and community, laying strong foundations for the delivery of expanded activities and increased impact in 2026.
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Principal risks and uncertainties
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure of the major risks.
The principal risk and uncertainty relates to income and generating enough in order to cover the Charity's liabilities and costs as they fall due, whilst also being able to continue to work towards the charitable objectives.
c. Financial review
During the period to 31 December 2025, the Charity received income of £410,852. Of this amount, £15,000 relates to grant income, and £395,852 relates to income from charitable activities.
The charity incurred expenditure of £352,061 in the period, £316,015 being the cost of activities, and £36,046 being support costs.
Structure, governance and management
a. Organisational structure and decision making policies
The charity is governed by the Articles of Association dated 11 May 2020. Governance is exercised by a board of trustees, the members of which are selected based on the skills and experience that they bring to the governance of the charity. Members are appointed by a resolution of the trustees then in post. The trustees meet at least four times a year. The trustees have considered the evolution of the governance, to more consultative participation of the members of the community, creating a Global Fellows Intrapreneur Council, that brings 7 representatives from different geographies and sectors as a consultative council on the strategy and regionalization of the content and programs. Raising money for core expenditures and activities is a continual challenge. We have invested in the creation of more structured educational offers that can be offered to organizations and also have a wide-ranging approach to raising unrestricted funds that give us the ability to meet the direct costs involved to meet the objectives of the charity. The remuneration of key management personnel is reviewed and set by the trustees by reference to the Articles of Association.
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Marguerite De Pree Chair
18/8/2026 | 16:52 BST
Florencia Estrade Chair 20/8/2026 | 03:42 BST
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THE LEAGUE OF INTRAPRENEURS (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Independent examiner's report to the Trustees of The League of Intrapreneurs ('the Charity')
I report to the charity Trustees (who are also Directors for the purpose of company law) on my examination of the accounts of the The league of Intrapreneurs for the year ended 31 December 2025, which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed
Signed: Dated: 20/8/2026 | 03:42 BST
Nicholas Weller FCCA Simmons Gainsford Professional Services Limited Chartered Accountants 14th Floor 33 Cavendish Square London W1G 0PW
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025
| Note Income from: Grants and donations 3 Charitable activities 4 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 15,000 395,852 410,852 352,061 352,061 58,791 98,802 58,791 157,593 |
Total funds 2025 £ 15,000 395,852 410,852 352,061 352,061 58,791 98,802 58,791 157,593 |
Total funds 2024 £ 7,959 466,427 |
|---|---|---|---|
| 474,386 | |||
| 419,424 | |||
| 419,424 | |||
| 54,962 | |||
| 43,840 54,962 |
|||
| 98,802 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 16 form part of these financial statements.
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THE LEAGUE OF INTRAPRENEURS (A company limited by guarantee) REGISTERED NUMBER: 08538560
BALANCE SHEET AS AT 31 DECEMBER 2025
| Note Fixed assets Current assets Debtors 9 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Unrestricted funds 11 Total funds |
8,622 186,700 195,322 (37,729) |
2025 £ - 157,593 157,593 157,593 157,593 157,593 157,593 |
20,408 109,510 129,918 (31,116) |
2024 £ |
|---|---|---|---|---|
| - 98,802 |
||||
| 98,802 | ||||
| 98,802 | ||||
| 98,802 | ||||
| 98,802 | ||||
| 98,802 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee) REGISTERED NUMBER: 08538560
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Florencia Estrade
Chair Date: 20/8/2026 | 03:42 BST
The notes on pages 11 to 16 form part of these financial statements.
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THE LEAGUE OF INTRAPRENEURS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. General information
The League of Intrapreneurs is a registered charity in England and Wales, with registered charity number 1189650 and registered company number 08538560. The address of the registered charity is The White House, Mill Road, Goring, Reading, RG89 9DD.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The League of Intrapreneurs meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.3 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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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(A company limited by guarantee)
THE LEAGUE OF INTRAPRENEURS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
2. Accounting policies (continued)
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Income from grants and donations
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Grant income | 15,000 | 15,000 | 7,959 |
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(A company limited by guarantee)
THE LEAGUE OF INTRAPRENEURS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. Charitable income
| Unrestricted funds 2025 £ Fellowship and Membership income 161,089 Bespoke Corporate training 234,659 Mentorship - Global Intrapreneurs Week - Amazon - books 104 Total 2025 395,852 |
Total funds 2025 £ 161,089 234,659 - - 104 395,852 |
Total funds 2024 £ 80,395 376,283 3,600 5,942 207 |
|---|---|---|
| 466,427 |
5. Analysis of expenditure by activities
| Charitable expenditure Total 2025 |
Direct costs 2025 £ 316,015 316,015 |
Support costs 2025 £ 36,046 36,046 |
Total funds 2025 £ 352,061 352,061 |
Total funds 2024 £ 419,424 |
|---|---|---|---|---|
| 419,424 |
Analysis of direct costs
| Subcontractors Digital Platform costs Sundry gifts Event costs Total 2025 |
Charitable expenditure 2025 £ 311,116 4,378 521 - 316,015 |
Total funds 2025 £ 311,116 4,378 521 - 316,015 |
Total funds 2024 £ 365,999 6,874 2,237 6,600 |
|---|---|---|---|
| 381,710 |
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(A company limited by guarantee)
THE LEAGUE OF INTRAPRENEURS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff training Travel Advertising and marketing Audit and accountancy fees General expenses Legal and professional Currency (gains)/loss Total 2025 6. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts. |
Charitable expenditure 2025 £ 518 17,444 - 4,448 6,642 - 6,994 36,046 |
Total funds 2025 £ 518 17,444 - 4,448 6,642 - 6,994 36,046 2025 £ 750 |
Total funds 2024 £ - 14,749 (659) 6,161 4,618 2,471 10,374 |
|---|---|---|---|
| 37,714 2024 £ 750 |
7. Employees
The average monthly number of employees, including Trustees, during the year was 5 (2024: 5).
8. Trustees' remuneration and expenses
During the year, Trustees received remuneration of £116,927 (2024: £102,867) for expert services provided to League partners.
During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL).
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. Debtors
| Due within one year Trade debtors Other debtors |
2025 £ 7,988 634 8,622 |
2024 £ 17,406 3,002 |
|---|---|---|
| 20,408 |
10. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2025 £ - 37,729 37,729 |
2024 £ 2,816 28,300 |
|---|---|---|
| 31,116 |
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THE LEAGUE OF INTRAPRENEURS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. Statement of funds
Statement of funds - current year
Unrestricted funds Reserves Statement of funds - prior year Unrestricted funds Reserves |
Balance at 1 January 2025 £ 98,802 Balance at 1 January 2024 £ 43,840 |
Income £ 410,852 Income £ 474,386 |
Expenditure £ (352,061) Expenditure £ (419,424) |
Balance at 31 December 2025 £ 157,593 |
|---|---|---|---|---|
| Balance at 31 December 2024 £ 98,802 |
12. Related party transactions
During the year ended 31 December 2024 the Charity received a grant of £7,959 from The League of Intrapreneurs, a United States non-profit company established to access corporate and philanthropic capital to advance the charitable mission globally as well as in the US. No grant was received in the year ended 31 December 2025.
The charity and the US entity are considered related parties due to having two mutual directors.
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