Trustees’ Report and Financial Statements for the year ended 31 August 2024
**REGISTERED NUMBER:** 11513329 **CHARITY NUMBER:** 1190809 **GET FURTHER LTD** (A COMPANY LIMITED BY GUARANTEE)
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
3
## Welcome from our Chair of Trustees
Welcome to Get Further’s Trustee Report and Financial Statement for the academic year 2023/24. This has been a landmark year for our charity - one of significant growth, innovation, and impact.
It marks the conclusion of our three-year strategy, a period in which we have expanded substantially. Over its course, we have supported around 5,000 students across all nine regions of England, including nearly 2,500 in 2023/24 alone. We are proud to have cemented our role as a vital part of the further education landscape, evolving from a small, not-for-profit start-up into a leading charity.
Tutoring is one of the most effective ways to improve attainment, and our impact analysis demonstrates the transformative power of our support. Over the lifetime of our last strategy, students who attended a term or more of tuition on our programmes achieved GCSE maths pass rates that were 70% higher than the national average, with English pass rates 77% higher.
Crucially, our data highlights a substantial narrowing of the attainment gap. Nationally, GCSE resit pass rates for disadvantaged students lag behind their more advantaged peers by 10.7 percentage points in maths and 13.4 percentage points in English. Our programmes have dramatically reduced this gap: in maths, disadvantaged students are just 2.5 percentage points behind their peers, and in English, the gap is not only closed but reversed, with disadvantaged students outperforming their peers by 1.6 percentage points.
Building on this success, we have expanded our reach with two new initiatives supporting young people and adult learners to achieve gateway English and maths qualifications. In January 2024, we launched our Functional Skills Tuition Programme, designed to help current and aspiring apprentices develop the skills they need to pass Level 2 Functional Skills and succeed in their careers. Additionally, we scaled up our Resit Resources and Training offer, equipping teachers in the FE sector with high-quality, research-informed resources and techniques for delivering impactful GCSE English and maths classes.
Our ambitious new strategy aims to raise pass rates for disadvantaged students undertaking gateway English and maths qualifications across further education, adult education, and apprenticeships, setting a new standard for excellence on a national scale. With a laser-like focus on quality and impact, it will continue to drive up the effectiveness of our programmes, ensuring they deliver the highest possible standards of support.
We will strengthen our evaluation processes to robustly measure our impact and uncover insights that will drive continuous improvement. This includes a groundbreaking independent evaluation of our GCSE Resit Programme in partnership with the Education Endowment Foundation - one of the largest investments they have ever made in post-16 education research and one of the first studies in the UK to assess the impact of tuition in the 16-19 education phase.
Finally, we have committed to harnessing our impact to positively influence the wider sector. Building on our existing advocacy work, we will use our evidence and expertise to shape future policy and practice, ensuring that the students who need support the most receive it in the most effective way possible.
I want to thank everyone who has made the incredible impact, growth and innovation we have achieved in 2023/24 and over the lifetime of our last strategy possible. If you are interested in partnering with us, financially supporting our work or joining our dedicated team, we would love to hear from you as we embark on this exciting new chapter.
## Michele Sutton CBE
**Chair of Trustees** March 2025
A challenge for us and the wider FE sector this year has been the discontinuation of the 16-19 Tuition Fund in August 2024, which provided vital tuition support for post-16 learners to achieve gateway English and math qualifications. In preparation for this change, we have worked hard to grow our reserves in alignment with our reserves policy to safeguard the charity’s future beyond this fund. This has ensured we can continue our work with our further education partners and support more students. It will also enable us to invest in our team and systems as we embark on our new five-year strategy.
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
## Contents
Welcome from our Chair of Trustees **2** Contents **4** Get Further Trustee Report 2023/24 **5** Our Values **6** Objectives and activities **7** Our programmes **9** Our Tutors **12** Theory of Change **14** Our achievements and impact in 2023/24 **16** Narrowing the attainment gap **18** Boosting pass rates and progress **19** Unlocking opportunities **20** Our five-year strategy **22** Capabilities **24** Financial Review **26** Structure, governance and management **30** Statement of Trustees Responsibility **31** Independent Auditors’ Report **33** Statement of Financial Activities **37**
## Get Further Trustee Report 2023/24
The Trustees present their annual report together with the financial statements of the Charity for the year 1 September 2023 to 31 August 2024. 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).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.
The Charity also trades under the name Get Further.
Reference and administrative details of the charity, its trustees and advisers for the year ended 31 August 2024
## TRUSTEES
## REGISTERED OFFICE
Michele Sutton CBE, Chair Jack Davidson
2nd Floor The Brewery Building 55-61 Brewery Road London England N7 9QH
Chioma Etienne (resigned 14 November 2024) Fiona Forbes
Philip McGuire
## INDEPENDENT AUDITORS
Fiona Morey OBE (appointed 18 July 2024) John Peel (resigned 8 February 2024) Natasha Porter OBE Laura Roberts
## Goodman Jones LLP
Chartered Accountants Statutory Auditors 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Alexander Warner (appointed 18 July 2024) Dr Christopher Wilson
## COMPANY REGISTERED NUMBER
11513329
## CHARITY REGISTERED NUMBER
1190809
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
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## Our Values
## **Tenacious**
## **Bold**
## **We are bold and unafraid to go against the grain.**
**We are tenacious in our drive to achieve impact for the students we support.**
We revel in the underserved corners of the education system and are proud to be the first charity dedicated to supporting students in further education to secure gateway maths and English qualifications.
Our unswerving belief in student potential drives us to think innovatively about how to push our impact to new heights. We monitor and evaluate our impact across every aspect of our work so that we can understand what is and isn’t working well and are eager to apply this knowledge.
## **Ambitious**
## **We are ambitious for students who are yet to achieve gateway English and maths qualifications.**
We know continuous reflection takes work and can lead to difficult conversations, but we do this because we are unshakable in our pursuit of improvement.
## **Optimistic**
We are certain of the foundational importance of gateway English and maths qualifications.
**We are optimistic through setbacks, retaining a sense of possibility in the face of challenges.**
We aim to have both a tangible, positive impact on student outcomes at the grassroots – and a constructive influence at the national level across the further education sector.
Just as we encourage students to hold high expectations for themselves, we show optimism as we strive to achieve our ambitious goals. Our sense of possibility energises us.
We eagerly pursue opportunities to advance our mission and take risks, accepting that, despite our best efforts, they may not always work out how we intend. If something goes wrong, we rise to that challenge.
## Objectives and activities
Lacking gateway qualifications locks people out of many opportunities for education and employment and is associated with adverse outcomes for earnings potential, health, and well-being.
The objectives of the organisation, as stated in the Memorandum and Articles of Association, are:
_**To advance education for the public benefit by providing people who are socially or economically disadvantaged with extra tuition in English and maths in order to help them succeed and through the provision of such other mentoring and support as deemed appropriate.**_
After missing our on a standard pass in GCSE English or maths:
Young people are
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
to be Not in Employment, Education or Training (NEET) when they leave school.
progress onto courses that are a higher level than GCSE the following year.[1]
Get Further exists to support students from disadvantaged backgrounds in further education to secure gateway English and maths qualifications that unlock opportunities.
## GATEWAY QUALIFICATIONS
A prerequisite for entry into a specific education or career pathway, providing the necessary foundational knowledge and skills to progress to the next level in a person’s educational or professional journey.
We do this because one in three students leave school each year without a standard pass (grade 4 or above) in GCSE English and maths, representing over 200,000 16-year-olds every year. This rises to over one in two for young people from disadvantaged backgrounds. The scale of the challenge at age 16 extends into adulthood. An estimated 8.5 million workingage adults in England have low literacy and numeracy skills.
1 The Nuffield Foundation (2021), ‘Moving on from initial GCSE ‘failure’: Post-16 transitions for ‘lower attainers’ and why the English education system must do better.
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## Historically, around
of adverts for level 3 apprenticeships specify that applicants must have a level 2 qualification in English and maths.[1]
Missing out on a GCSE standard pass by just one grade results in an average loss of
in lifetime earnings for GCSE maths and
for GCSE English.[2]
Each year, the Further Education sector supports thousands of young people and adult learners to keep building their literacy and numeracy skills and pass crucial
1 AELP (2024) 2 DfE (2021), ‘GCSE attainment and lifetime earnings’
gateway qualifications that allow them to progress in education and in their careers. This vital work takes place against a backdrop of chronic underfunding, with targeted funding for supporting disadvantaged students ending abruptly at age 16.
We are proud to be the only non-profit tutoring organisation working exclusively with the further education sector (colleges, sixth forms and Independent Training Providers), helping our partners support a disproportionately disadvantaged cohort in gaining the qualifications they need to thrive in education, the workplace, and beyond.
For every young person and adult to achieve the gateway qualifications they need to progress and thrive in education, work, and life.
## Our programmes
We support students via three programme formats:
To achieve our mission and make our vision a reality, we form strong partnerships with post16 education providers, supporting students and staff through research-informed English and maths interventions.
## PROGRAMME #1
## GCSE Resit Tuition
Tutoring is one of the most impactful and costeffective interventions for improving education outcomes. The evidence behind tutoring is robust both at home and abroad. Our tuition programmes provide students, apprentices, and prospective apprentices with tailored, small-group tuition to build their confidence and skills.
This programme supports students retaking GCSE English or maths in further education to gain the confidence and knowledge they need to pass these gateway qualifications and unlock opportunities for further study or work. Through this programme, students receive oneto-one or small-group tutoring from trained, subject-specialist tutors, to complement their classroom study.
“On results day I was so relieved to have passed all my exams. It wouldn’t have been possible without Get Further’s support. The tutor they connected me with always asked me for feedback at the end of every session, asking me what I want to focus on next and what I’m struggling with. Thanks to this catered help I’ve got the grade in maths I needed to progress into training to be an electrician. Thank you so much for the tutoring - it made all the difference.”
**- Jamie, 21, passed GCSE maths at City College Norwich**
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## PROGRAMME #2
## Functional Skills Tuition
This programme supports current and aspiring apprentices who are missing English and maths to build the skills they need to pass level 2 Functional Skills. This programme is a comprehensive course covering the whole Functional Skills curriculum. It is delivered by subject-specialist tutors and supports learners to gain the English and maths qualifications and skills they need thrive on their apprenticeship and throughout their career.
“At school I really struggled with maths as it takes me a while to process numbers, which made me begin to dislike maths. My tutor took time to make sure I understood the lessons, and when I got stuck, he never rushed. When I first started, I dreaded two-hour lessons, but they always flew by. I would encourage anyone struggling to get in touch with Get Further. The knowledge I’ve gained will help me pass my Institute of Fire Engineers (IFE) course and help with future promotions.”
Both of our tuition programmes include:
**Highly qualified tutors** , selectively recruited by us and trained by expert teachers to deliver impactful sessions and boost engagement and motivation among students.
**A bespoke, fully-resourced curriculum** , designed specifically for post-16 students by expert teachers, using insights from cognitive science.
**A dedicated Programme Coordinator** to oversees programme delivery, supports tutor development and implements engagement strategies.
## PROGRAMME #3
## Resit Resources and Training
With the FE sector facing challenges with recruiting and retaining enough specialist English and maths teachers, we recognise we have a role to play in disseminating our effective curricula to support FE English and maths teachers. This programme empowers teachers to impactfully deliver a fully resourced, research-informed curriculum designed specifically for post-16 students working towards GCSE English and maths qualifications. It includes:
**Resources** for four hours per week of delivery, following
- a curriculum informed by a wealth of research into cognitive science, memory, and the principles of mastery.
**A range of professional development interventions** that equip further education teachers to confidently use evidence-based teaching strategies in the classroom.
“The resources are well put together and attractive to learners. Recapping activities enable learners to revisit prior topics to consolidate learning, and good links are made between different topics. Learner engagement is going well”.
**- Rosette Mukasa, Curriculum Manager at LSEC**
“We found the onsite visit invaluable for reviewing how our tutors are implementing the Get Further format. We received guidance about how they can push their teaching forward, ensuring that they meet the needs of each of their individual groups. It has allowed our tutors the confidence to be flexible with their delivery and we have had some excellent discussions about how to do this”.
**- Abigail Tranah, Deputy College Principal, South Essex College**
**- Joel, 17, passed FSQ Level 2 Maths while completing an apprenticeship at Merseyside Fire and Rescue Service**
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## Our Tutors
All Get Further tutors are selected through a rigorous, high-quality recruitment and selection process, including two days of training in our bespoke curriculum delivered by our in-house subject specialist Curriculum Managers.
Between 2021 and 2024 we have consistently grown our tutor pool.
Over the three years, we recruited and trained
## over 300 tutors
to support students with impactful sessions.
In 23-24 alone, we recruited and trained
## over 200 tutors.
In 2023-24 we invested in growing our tutor community, connecting tutors in local areas, delivering a range of ongoing professional development sessions, social events, including our first annual tutor seminar and an online tutor awards ceremony.
In response to our annual tutor survey in June 2024:
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92% 83%
reported that their confidence with tutoring
increased across the year. again.
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**expressed an interest in working with us again.**
“The tutor training I was given at Get Further was of the highest calibre. The delivery of the presenters was excellent and the content well thought out and engaging.
“I have thoroughly enjoyed seeing students becoming increasingly confident with maths every week I see them. Seeing how they apply skills learnt from earlier lessons to new topics shows me that these sessions have been helpful for them. As well as their academic progress, it makes me happy to see that they have developed more positive mindsets and really persevere even when they find things difficult”.
I have taught for over 30 years and sat through many hours of wasted training, but this was different.
Meticulously planned, expertly delivered and refreshingly relevant”.
- **Saamiya, Maths Tutor**
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- Caroline, English Tutor
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## Theory of Change
WHAT
FOR STUDENTS
> FOR STUDENTS High-quality, **Resit Tuition** small-group tuition, delivered by subject specialist tutors using Get Further’s curriculum.
## FOR STUDENTS
**Functional Skills Tuition**
FOR TEACHERS
> FOR TEACHERS High-quality training and bespoke **Resit** materials to support **Resources and Training** teachers and improve classroom delivery.
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HOW
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- Students attend a full programme of sessions.
- Motivated, qualified and high-quality tutors deliver the sessions.
- We assess student engagement, motivation, confidence and
- performance regularly, allowing us to tailor tuition sessions to student need and adapt programme delivery.
- Teachers are trained and supported to provide consistent, high-quality and effective classroom delivery.
- We assess student engagement, motivation, confidence and performance regularly.
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TO ACHIEVE
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- Students develop greater subject matter knowledge and can answer more complex problems.
- Students who attend a term of sessions achieve a pass rate significantly higher than the national average in English or maths.
- Students' motivation, confidence, selfefficacy, and test anxiety all improve.
- Partners using our resources and training increase their GCSE pass rates significantly above the national average.
- Students' motivation, confidence, selfefficacy, test anxiety all improve.
- Teachers' confidence and expertise are enhanced”.
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OUTCOME
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## • **Improve pass rates nationally.**
- Demonstrate innovation in pedagogy and curriculum, positively influencing FE teaching practice.
- Improve the evidence base for FE interventions.
- Unlock additional funding that benefits the students we support.
- Highlight the importance of gateway qualifications and the potential of the students we support.
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## Our achievements and impact in 2023/24
On our GCSE Resit and Functional Skills Tuition Programmes, we worked with
## 2,587 students
across all nine regions of England - our largest programme delivery to date.
To support this delivery, we recruited, trained and worked with over
## 200 tutors.
We scaled the delivery of our Resit Resources and Training Programme for maths teachers, reaching over
1,000 students, and expanded the programme to support English teachers.
## In 2024, we:
- We partnered with ImpactEd Evaluation, a third-party research organisation, who undertook our first external evaluation of our impact of our 2023-24 GCSE Resit Tuition Programme.
- We secured the largest post-16 research grant, awarded by the Education and Endowment Foundation, to deliver a large-scale evaluation of our GCSE Resit programme, comprising a randomised control trial and implementation and process evaluation.
- Appointed our first Patron, Professor Jason Arday, who overcame illiteracy in his late teens before becoming one of the youngest professors ever appointed at Oxbridge. His journey proves it’s never too late to thrive in education.
## Across 2023-2024, we:
- Developed and finalised our new five-year strategy, A Vision of Excellence for Post-16 Maths and English and launched it at an event in Westminster hosted by Baroness Alison Wolf.
- Embarked on a large digital infrastructure project, to upgrade our CRM system, which launched in November 2024.
- We expanded our central staff team significantly and invested in new roles to support our next 5-year strategy. This included our Director of Impact, Head of Functional Skills Tuition Programme, Head of Resits Tuition Programme, Senior Marketing and Communications Officer, Senior Data Analyst and Impact Officer and Fundraising Officer.
2023/24 marked the final year of our last strategy, over the course of which we have secured positive outcomes for our college partners and the students we support together.
## For students who attended a term or more of
tuition on our GCSE Resit Tuition Programme, both pass rates and progress rates were substantially higher than the national average for resit students:
## IN GCSE MATHS,
pass rates were
## 70%
HIGHER
than the national average.
## NJIN GCSE ENGLISH,
pass rates were
77%
HIGHER
than the national average.
Across our GCSE Resit Tuition Programmes, students made nearly
## 5x
AS MUCH PROGRESS
as the national average.
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## Narrowing the attainment gap
The attainment gap for disadvantaged students is stark - by the end of Year 11 they are, on average, 19.2 months behind their wealthier peers and over half leave school without a standard pass in GCSE English and maths. This gap persists in 16-19 education, with young people from disadvantaged backgrounds less likely than their peers to pass their resits. Yet, our impact data shows that our programmes are narrowing the attainment gap:
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Nationally, GCSE maths pass rates for
students from disadvantaged backgrounds
are 10.7ppts lower than for their more
advantaged peers.
GCSE MATHS
In GCSE maths, we have substantially
narrowed the attainment gap. Pass
rates for students from disadvantaged
backgrounds are just 2.5ppts behind their
peers.
Nationally, GCSE English pass rates
for students from disadvantaged
backgrounds are 13.4ppts lower than
for their more advantaged peers.
GCSE
ENGLISH In GCSE English, we have closed
the attainment gap. Pass rates
for students from disadvantaged
backgrounds are 1.6ppts higher than
their peers.
15ppts 10ppts 5ppts 0ppts -5ppts
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To help us focus our work on the students most in need of additional support, we track indicators of disadvantage. Our disadvantage indicators include whether a student was in receipt of free school meals when at school, is currently receiving benefits or is living in one of the 30% most deprived postcodes in the UK. Over the past 3 years, 66% of ‘active’ students (attending 1+ sessions) on this programme self-reported that they met at least one of these disadvantage indicators, with the actual figure expected to be higher. In addition, 26.7% reported that they had a special educational need or disability.
## Boosting pass rates and progress
National average Get Further
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For students who attended
at least a term of tuition:
40 37.6%
• GCSE maths pass rates
30
Proportion
24.6% were 69.7% higher than
achieving
grade 4 or 21.3% the national average.
above (%) 20
14.5% • GCSE English pass rates
were 76.5% higher than
10 the national average.
0
Maths English
National average Get Further
In GCSE maths, students
made an average of +0.38
0.7
+0.63 grades of progress.
0.6
Grades of
progress In GCSE English, students
0.5
made an average of +0.63
+0.38
0.4 grades of progress.
0.3
For both subjects, this is 4.8
0.2
+0.13 times as much progress as
+0.08
0.1 the national average.
0.0
Maths English
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Our attendance data demonstrates that the more tuition sessions a student attends, the better their performance in the final exam. Across 2021-24, students attending a term of tuition (12+ sessions), outperformed students who attended less than half a term (1-5 sessions) by 7.9ppts in maths and 13.5ppts in English. We monitor attendance closely and aim to increase student attendance year-on-year. From 2021 to 2024, our attendance rate has increased by 25%. This improvement has been driven by our new Quality and Attendance Officer (appointed in 2024), who designed and implemented new attendance strategies to boost average attendance rates of the students we support.
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## Unlocking opportunities
into **training to be an electrician.**
onto a **level 3 course in Aviation.**
Every student who passes gateway qualifications in English or maths with the support of our fantastic tutors unlocks new opportunities. Below are just some of the many messages our team received on GCSE results day in summer 2024 - a powerful reminder of how transformative tailored tuition can be:
My tutor was so kind and supportive and didn't give up on me. I am now joining the NHS as a **mental health support provider.** - Erin, GCSE English
I feel so proud of what I've accomplished. My plan now is to do an access to higher education course and after that **I want to go to university.**
For now, I'm just going to enjoy this feeling of realising that I was never actually bad at maths. Then I'm going to **look at career options.**
- Elizabeth, GCSE maths
My tutor helped me with new strategies to use and made me feel more confident in the exam. Now, **I'm planning to do an apprenticeship.**
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- Ashonte, GCSE English
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## Our five-year strategy
Over the next five years, there will be many policy changes affecting further education. From September 2024, 16-19 education providers have received an additional £150 million annually to support students who have not achieved a standard pass in GCSE English and maths. Two-thirds of this funding will be offset by the removal of the 16-19 Tuition Fund, a ringfenced fund that further education partners could use in recent years to pay for tutoring support for their students. The new Government has committed to a comprehensive strategy for post‐16 education, as well as a review of curriculum and assessment. We can also expect further devolution of skills to regional government.
Across 23-24, we worked closely with the Strategy Working Group, facilitated by ImpactEd Consulting and comprised of the Executive Team and three Trustees, to develop Get Further’s next five-year strategy. The working group met monthly, giving us the additional time and space to develop the roadmap for the next five years of the charity. While three trustees were part of the working group, all Trustees have played a vital role in the strategy’s development.
_**A Vision of Excellence for**_ The final strategy, _**Post-16 English and Maths**_ , was approved at the Board meeting in July 2024 and formally launched in the House of Commons in November 2024 with the Get Further Team, Tutors, Trustees, Students, FE Partners, funders, friends and other supporters.
It is in this context that we have developed our future strategy. We are ambitious to play a lead role in the national skills agenda and set a new standard for excellence in post-16 English and maths education. To reflect this, we have set the following strategic goal for 2029:
To drive up pass rates for students from disadvantaged backgrounds undertaking gateway English and maths qualifications in further education, adult education, and the apprenticeships sector, setting a new standard for excellence on a national scale.
This strategic goal deliberately moves our previous emphasis on scale toward impact, pushing us to consider new ways of driving up programme quality. It affirms that our ultimate goal is to ensure more young people and adults achieve a ‘standard pass’ in gateway English and maths qualifications. It also reflects the broader markets in which we now work; adult education and the apprenticeship
sector, alongside supporting 16- to 19-yearolds in further education.
This goal does not mean we will not increase our reach during the next strategic cycle. Our strategy includes our ambition to advocate for additional funding within the education and skills system to enable us to scale our work. But to support our advocacy efforts, our priority is programme quality.
Our key priority for 2024/25 is to begin delivering on our three strategic objectives (O1-O3):
## O1
To improve quality across all our programmes, achieving pass rates significantly and consistently above the national average, raising the standard in post-16 English and maths education.
## O2
To strengthen the monitoring and evaluation of all our programmes, improving the volume, diversity, and integrity of our data so that we robustly establish our impact and enhance our work further.
## O3
To harness our impact to change national and regional policy and practice so that it more effectively benefits the students we support, and to ensure we can scale our work.
We cannot achieve these three objectives if, operationally, the charity does not have robust finances, a high-performing team that embodies our values, and effective and efficient systems and processes. So, we have developed the following operational objective (OO) - a cross-organisational priority that will underpin the strategic objectives and ensure that we are successful in our aim:
To achieve long-term financial sustainability, through diversifying our income and becoming a more efficient and effective organisation.
## OO
In addition to activity on developing our staff and systems, this objective recognises that the expansion of Get Further’s programmes to the adult education and apprenticeships sectors is central to this strategy.
In order to ensure Get Further achieve these objectives by 2029, our key priorities for 24/25 include:
- Defining and codifying the overarching principles of the highest quality and highest impact programmes.
- Growing our Functional Skills Tuition Programme to support more learners to access or gain level 3 apprenticeships.
- Preparing for our first large-scale external evaluation in partnership with the Education Endowment Foundation (EEF).
- Deepening our understanding of our impact and our approach to evaluation.
- Growing the Impact Team under our Director of Impact.
- Continuing to develop our systems and digital infrastructure to streamline our internal processes and increase real-time impact reporting to strengthen the quality of our programme delivery.
- Harnessing our impact to contribute to the wider education base.
- Using our impact in conversations with national and regional policymakers to achieve additional funding in the education and skills sector to benefit the students we support and enable our programmes to continue to scale.
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## Capabilities
To enable us to deliver our programmes and achieve the quality and impact that we do, we continue to develop and strengthen our organisational capabilities within our four teams:
## PROGRAMMES
## OPERATIONS
Our Programmes Team is led by our Chief Programmes Officer (CPO) responsible for the design, development, delivery and quality assurance of new and existing programmes. It is also responsible for developing partnerships with further education providers across England, enabling us to reach the learners most in need of English and maths support.
Our Operations Team is led by our Chief Operating Officer (COO) and is responsible for the charity’s finances, internal processes, organisational culture, staff development and recruitment of all teams, including our Tutor Team.
We continue to grow this team with the addition of our first Head of Recruitment to lead on the recruitment and onboarding of our high-quality Tutor Team.
As we continue to develop new programmes and approaches to our work, this team has expanded with the appointment of a Head of Resit Programmes and a Head of Functional Skills Programmes, who lead the programme delivery teams. They are supported by our Curriculum Managers, who develop our bespoke resources and lead the training and development of our tutors.
In 2023/24 we adopted a new onboarding platform to drive up efficiency with our tutor onboarding process and enable us to recruit, onboard and train over 200 tutors to deliver to our growing number of programmes across England.
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IMPACT
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## EXTERNAL RELATIONS
2023/24 also saw us formalise our External Relations Team through the appointment of our first Fundraising Officer, who is working with our Senior Communications and Marketing Officer, COO and CEO. This team is responsible for our fundraising, marketing and public affairs.
Our Impact Team came to life in 2023/24 under the appointment of our new Director of Impact. This team are responsible for the effective evaluation of our programmes. This is essential to understanding our impact and how our programmes support our students to achieve their gateway qualifications.
As we have grown, so has our need to raise more philanthropic income, particularly in the absence of any specific ringfenced funding to support young people facing disadvantage in post-16 education.
We expanded this team by appointing a full-time Senior Data Analyst and Insights Officer to support the analysis and communication of our impact, internally and externally.
This team has also overseen the exciting development of our CRM system to improve our reporting and evaluation capabilities, increase the visibility of our impact and streamline several internal systems.
We are incredibly grateful to all our funders who supported our work in 2023/24 and welcome conversations with anyone interested in supporting us as we continue to grow our programmes.
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## Financial Review
The total income for the year 2023/24 was
In addition, Get Further is incredibly grateful to the following grant and donation providers for the generous support they gave in 2023/24:
## £2,394,471
This was made up of educational partner contributions, grants and donations. College sales were significantly higher than 2022/23, due to the implementation of our new sales strategy across our Programmes Team to maximise sales in the last year of the ringfenced funding for tuition for 16-19-yearolds with 43% of colleges (13 out of 30) in 2023/24 being renewals from existing partners.
- AKO Foundation
- Garfield Weston
- Mohn Westlake
- Wates Family Enterprise Trust
- Fidelity UK Foundation
- The Dulverton Trust
- The Headley Trust
- The Allen and Overy Shearman Sterling Foundation
- The Clothworkers’ Foundation
- Merchant Taylors’ Foundation
The largest portion of our income (72%) came through contributions from educational partners for the delivery of our tuition and our curriculum resources and training services.
- Drapers’ Charitable Fund
- Fair Education Alliance
- Fiona Forbes
- East Sussex College Group
## **Income**
**----- Start of picture text -----**
FSQ
Programme
FSQ Programme
3%
2.5%
Grants and
Donations
donations %
28%
Resit Resources e
& Training
1%
Resit Tuition Resit
Programme 68.8
68%
**----- End of picture text -----**
The total expenditure for the period was
These are all from the charity’s general unrestricted funds and represent ~5 months of operating costs against the 2024/25 budgeted expenditure.
## £1,962,994
which represents a surplus of £431,477. This is a £787,187 increase in expenditure from 2022/23 which relates primarily to increased delivery costs due to the scale of delivery and salaries as the team grew to support the inyear delivery and to facilitate future growth through our investment in our digital systems.
Our reserves policy is to keep between 3 and 6 months’ expected operating costs based on the incoming year’s budgeted expenditure. Reserves are used to:
- Provide working capital to protect the continuity of our core programme delivery. This is particularly important over the summer and through the autumn as we prepare for and commence delivery ahead of receipt of programme fees from colleges.
- • To provide funding for unexpected opportunities.
Please see Get Further’s Financial Statements 2023/24 for more information.
## RESERVES POSITION AND POLICY
- To provide cover for risks such as unforeseen expenditure or unanticipated loss of income. In particular, in our students’ interests, and to prevent disruption to their studies, we would want to be able to maintain core programme delivery to the end of our scheduled programmes.
As of 31st August 2024, Get Further has
## £910,066
in unrestricted, ‘free’ reserves.
## **Expenditure**
**----- Start of picture text -----**
FSQ
FSQ ProgrammeProgramme
6.5%7%
Support Costs pport costs
25%25%
Impact and
Evaluation
5%
Resit Resources
& Training mme
3%
Resit Tuition Resit
Programme 60.7
60%
**----- End of picture text -----**
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
29
The Charity is registered with the Fundraising Regulator and is committed to following the Code of Fundraising Practice and the Fundraising Promise. No complaints were received by the Charity during the year regarding its fundraising activities. Any fundraising activities undertaken by the Charity are done so in accordance with the Charity’s safeguarding policies, as required, in order to protect any vulnerable donors.
## GOING CONCERN
In adopting the going concern basis for preparing the financial statements, the Board has considered the organisation’s financial activities, unrestricted reserves, and strategy, as well as the risks to the Charity and the applicable controls.
The organisation’s business activities, financial performance and reserves position are reviewed quarterly by the Board. Based on these regular reviews, the Board is satisfied that the Charity has adequate resources to operate for the foreseeable future and considers it appropriate for the organisation to adopt a going concern basis in preparing its financial statements.
## RISK MANAGEMENT
The Trustees and Executive Leadership Team are responsible for risk management and have an active process in place to assess principal risks and implement appropriate strategies. This involves identifying types of risks, prioritising them in terms of potential impact and likelihood, and identifying the means of mitigating such risks. Whilst risk management strategies cannot offer absolute assurance against all forms of loss or damage, the Trustees are satisfied that the measures deployed mitigate exposure to the most significant risks. The Executive Leadership Team review risks monthly, identifying new and additional risks, implementing mitigation measures, and updating the risk register. The risk register is then presented for discussion at the quarterly Finance and Risk Sub-Committee, it is included with all board packs for all Trustees and is a main agenda item for at least one Board Meeting each year.
## PRINCIPAL RISKS ACTIONS TAKEN TO IDENTIFIED MITIGATE RISK
- Model for different delivery levels and plan for different scenarios.
- Potential reduced revenue from Resits Programme postAugust 2024 and the end of the 1619 Tuition Fund.
-
Ensure programme delivery is high quality and high impact so that colleges want to continue working with us without earmarked funding.
-
- Continue to develop other business areas such as the Functional Skills Tuition Programme following the successful pilot in 23/24.
-
- Continue to advocate for additional funding for disadvantaged students in post-16 education and/or ringfenced Tuition funding.
-
• Continue to explore additional revenue streams/new business areas.
There is a breach of GDPR / data protection / There is an accidental loss of data.
Full review of GDPR policy, including ensuring all data storage is tracked and any third party software is reviewed to ensure compliance before used
-
- Training provided to all new staff members on roles and responsibilities with regards to GDPR / data protection
- Full review of admin settings and permissions to ensure staff only have access to data essential for their roles
## Safeguarding
- Safeguarding policy and procedures in place and all tutors receive training on safeguarding and are briefed on what to do in the event of a concern.
• We have a designated safeguarding Lead (DSL) and all colleges must provide contact information for their safeguarding officer prior to the programme starting.
- New staff training on safeguarding has been developed and the process for reporting in this area has been refreshed.
- Standing item on all Executive and Board meeting agendas.
- Top-up training around safeguarding updates and policy changes included on all Team Days.
- Safeguarding policy shared with college partners.
- Training on safeguarding for all central staff up to date and planned annually.
- We require tutors to complete session reports where they also have the option to flag a concern.
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
31
## Structure, governance and management
Safeguarding Policy and Code of Conduct as well as the current financial position and strategic aims for the future.
## CONSTITUTION
Get Further Ltd is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. Get Further Ltd registered as a charity with the Charity Commission in England and Wales, with a registration date of 11 August 2020.
The balance and diversity of trustees is kept under review by the Board. Emphasis is placed on ensuring that our trustees provide the specific mix of skills and experience that have been identified as important to our objectives and activities, as well as the charity’s ongoing development.
## METHODS OF APPOINTMENT OR ELECTION OF TRUSTEES
## ORGANISATIONAL STRUCTURE AND DECISION MAKING
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association. We run an open application process for trustees, advertising the role widely and requesting nominations and recommendations from the existing trustees and wider stakeholders. Applications are shortlisted, and shortlisted candidates are invited to a selection panel with the Chair and CEO, followed by a final meeting with the Chair and one other Trustee from the current Board.
As of September 2024, Get Further is governed by a Board of nine Trustees. The Board of Trustees meets at least four times a year. These meetings are supported by three additional subcommittees:
- **Finance and Risk sub-committee** which meets at least four times per year and is intended to deliver an in-depth review of Get Further’s financial management, fundraising, and risk management.
Trustees are invited to observe a full meeting of the Board, at which they may be appointed for a 3-year term. This initial term can be renewed for a further term of up to 3 years at the Board’s approval. All trustees must provide two references, declare any conflicts of interest, and undergo an enhanced DBS check before taking up the position.
- **Quality and Impact sub-committee** which meets quarterly is intended to deliver an indepth review of Get Further’s programme quality and impact.
- **Remuneration sub-committee** which was formed for 24/25 and met as a oneoff set-up meeting in December 2024. It will now in April each year to review the performance and pay of the Executive Leadership Team. This sub-committee will also provide ad hoc support with the recruitment of any member of the Executive Leadership Team.
Once appointed, each trustee undergoes an induction with the Chief Executive Office, the Chair (or Interim Chair) and relevant members of the executive team. This induction includes taking Trustees through the charity’s
## Statement of Trustees Responsibility
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;
- observe the methods and principles of the Charities SORP (FRS 102);
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.
- make judgements and accounting estimates
- that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
33
## DISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who are Trustees at the time when this Trustees’ Report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
## Independent Auditors’ Report to the Members of Get Further Ltd.
- In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by Section 415A of the Companies Act 2006.
The auditors, Goodman Jones LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## Michele Sutton CBE
Chair date: 26/04/2025
## OPINION
We have audited the financial statements of Get Further Ltd (the ‘charitable company’) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011 and the Companies Act 2006.
## BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
- Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
35
## Independent Auditors’ Report to the Members of Get Further Ltd. (continued).
least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## OTHER INFORMATION
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors’ Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees’ Report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Trustees’ Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to
which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the charity and sector, we identified that the principal risks of non-compliance with laws and regulations related to sector regulations and unethical and prohibited business practices, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried out.
## These procedures included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Reading minutes of meetings of those charged with governance;
- Obtaining and reading correspondence from legal and regulatory bodies including HMRC;
- Identifying and testing journal entries;
- Challenging assumptions and judgements made by management in their significant accounting estimates.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
GET FURTHER TRUSTEE REPORT AND FINANCIAL STATEMENT 2023/24
## Independent Auditors’ Report to the Members of Get Further Ltd. (continued).
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: **www.frc.org.uk/auditorsresponsibilities** . This description forms part of our Auditors’ Report.
## USE OF OUR REPORT
This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an Auditors’ Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
**Goodman Jones LLP** Chartered Accountants Statutory Auditors
1st Floor, Arthur Stanley House
40-50 Tottenham Street London W1T 4RN
Date: 09-05-25
_Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006._
37
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024**
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**386,858**
**1,721,022**
**2,107,880**
**1,782,863**
**1,782,863**
**325,017**
**681,526**
**325,017**
**1,006,543**|**Restricted**
**funds**
**2024**
**£**
**286,591**
**-**
**286,591**
**180,131**
**180,131**
**106,460**
**-**
**106,460**
**106,460**|**Total**
**funds**
**2024**
**£**
**673,449**
**1,721,022**
**2,394,471**
**1,962,994**
**1,962,994**
**431,477**
**681,526**
**431,477**
**1,113,003**|_Total_
_funds_
_2023_
_£_
_242,634_
_849,668_
_1,092,302_
_1,175,807_
_1,175,807_
_(83,505)_
_765,031_
_(83,505)_
_681,526_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 26 to 40 form part of these financial statements.
38
## **GET FURTHER LTD (A Company Limited by Guarantee) REGISTERED NUMBER: 11513329**
## **BALANCE SHEET AS AT 31 AUGUST 2024**
|**Note**
Intangible assets
10
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
14
Unrestricted funds
14
**Total funds**|**57,578**
**1,047,247**
**1,104,825**
**(88,299)**|**2024**
**£**
**87,656**
**8,821**
**96,477**
**1,016,526**
**1,113,003**
**1,113,003**
**106,460**
**1,006,543**
**1,113,003**|_81,167_
_749,702_
_830,869_
_(149,343)_|_2023_
_£_
_-_
_-_|
|---|---|---|---|---|
|||||_-_
_681,526_|
|||||_681,526_|
|||||_681,526_|
|||||_-_
_681,526_|
|||||_681,526_|
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 144 of the Charities Act 2011.
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.
39
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2024**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Michele Sutton CBE** Chair
Date: 26/04/2025
The notes on pages 26 to 40 form part of these financial statements.
40
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of intangible assets
Purchase of tangible fixed assets
**Net cash (used in)/provided by investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2024**
**£**
**395,989**
**(87,656)**
**(10,788)**
**(98,444)**
**-**
**297,545**
**749,702**
**1,047,247**|_2023_
_£_
_(47,927)_
_-_
_-_
**-**
**-**
**(47,927)**
_797,629_
_749,702_|
|---|---|---|
The notes on pages 26 to 40 form part of these financial statements
41
## **GET FURTHER LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **1. General information**
Get Further Ltd is a charitable company registered in England and Wales. The registered office is 2nd Floor The Brewery Building, 55-61 Brewery Road, London, N7 9QH.
The activities of the Charity are set out in the Trustees' Report.
## **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.
Get Further Ltd 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.
Accounts are prepared in Sterling, the functional currency of the Charity, and rounded to the nearest £.
The Charity is a company limited by guarantee. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.
## **2.2 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2.3 Going concern**
After making appropriate enquiries, including an assessment of the future plans of the Charity and future income, and after conducted various scenario planning and modelling as part of the budgets and forecasts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees do not believe that there is a material uncertainty regarding the going concern status of the Charity and continue to adopt the going concern basis in preparing the financial statements.
42
**GET FURTHER LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **2. Accounting policies (continued)**
## **2.4 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 when the above recognition criteria have been met together with any performance conditions attached to the grants. 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.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **2.5 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 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.
## **2.6 Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
43
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **2. Accounting policies (continued)**
## **2.7 Intangible assets and amortisation**
Intangible assets are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Development expenditure - % not yet amortised as not in use
## **2.8 Tangible fixed assets and depreciation**
Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Computer equipment - 25%
## **2.9 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.
## **2.10 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.
44
## **GET FURTHER LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **2. Accounting policies (continued)**
## **2.11 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.
## **2.12 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.
## **2.13 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **3. Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. No estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been identified.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Income recognition: the Charity receives income from contracts and performance grants. These agreements include various quantitative and qualitative milestones and performance conditions to be met in order for the Charity to have entitlement to the funds. The Charity makes various assumptions in determining the stage of completion of these contracts and performance grants.
45
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **4. Income from donations and legacies**
|Grants
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
386,858
_242,634_|**Restricted**
**funds**
**2024**
**£**
286,591
_-_|**Total**
**funds**
**2024**
**£**
**673,449**
_242,634_|_Total_
_funds_
_2023_
_£_
_242,634_|
|---|---|---|---|---|
## **5. Income from charitable activities**
|Apprenticeships
Curriculum
Tuition
**Total 2024**
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
60,640
11,980
1,648,402
1,721,022
_849,668_|**Total**
**funds**
**2024**
**£**
**60,640**
**11,980**
**1,648,402**
**1,721,022**
_849,668_|_Total_
_funds_
_2023_
_£_
_-_
_18,750_
_830,918_|
|---|---|---|---|
||||_849,668_|
|||||
46
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Apprenticeships
Curriculum
Impact
Tuition
Central
**Total 2024**
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
128,211
48,361
103,629
1,022,061
480,601
1,782,863
_1,175,807_|**Restricted**
**funds**
**2024**
**£**
-
1,356
-
169,367
9,408
180,131
_-_|**Total**
**2024**
**£**
**128,211**
**49,717**
**103,629**
**1,191,428**
**490,009**
**1,962,994**
_1,175,807_|_Total_
_2023_
_£_
_-_
_34,788_
_998_
_699,298_
_440,723_|
|---|---|---|---|---|
|||||_1,175,807_|
||||||
## **7. Analysis of expenditure by activities**
|Apprenticeships
Curriculum
Impact
Tuition
Central
**Total 2024**
_Total 2023_|**Activities**
**undertaken**
**directly**
**2024**
**£**
128,211
49,717
103,629
1,191,428
-
1,472,985
_734,307_|**Support**
**costs**
**2024**
**£**
-
-
-
-
490,009
490,009
_441,500_|**Total**
**funds**
**2024**
**£**
**128,211**
**49,717**
**103,629**
**1,191,428**
**490,009**
**1,962,994**
_1,175,807_|_Total_
_funds_
_2023_
_£_
_-_
_34,788_
_998_
_699,298_
_440,723_|
|---|---|---|---|---|
|||||_1,175,807_|
||||||
47
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Advertising and
marketing
Consulting fees
Catering and
venue hire
IT software and
consumables
Legal and
professional fees
Travel expenses
Printing, postage,
and stationary
Student
marketing and
incentives
Telephone and
office expenses
Tutor onboarding,
training, and
materials
Recruitment fees
Advocacy and
events
**Total 2024**
_Total 2023_|**Apprentice-**
**ships**
**2024**
**£**
114,205
-
8,177
-
10
-
112
5,342
175
-
-
-
190
128,211
_734,307_|**Curriculum**
**2024**
**£**
46,453
1,356
-
-
-
-
439
1,278
-
191
-
-
-
49,717
_-_|**Impact**
**2024**
**£**
100,691
-
2,237
-
23
34
614
-
-
-
30
-
-
103,629
_-_|**Tuition**
**2024**
**£**
1,063,539
-
2,850
169
16,394
-
4,356
70,871
2,346
3,454
12,504
14,945
-
1,191,428
_-_|**Total**
**funds**
**2024**
**£**
**1,324,888**
**1,356**
**13,264**
**169**
**16,427**
**34**
**5,521**
**77,491**
**2,521**
**3,645**
**12,534**
**14,945**
**190**
**1,472,985**
_734,307_|_Total_
_funds_
_2023_
_£_
_674,273_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_60,034_
_-_
_-_
_734,307_|
|---|---|---|---|---|---|---|
48
## **GET FURTHER LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Depreciation
Accounting and Audit Fees
Advertising and marketing
Consulting fees
Bank charges
Catering and venue hire
Insurance
IT Software and Consumables
Legal and professional fees
Travel expenses
Printing, Postage and Stationary
Rent
Operating Lease Payments
Telephone and office expenses
Tutor onboarding, training, and materials
Recruitment Fees
Bad Debt Expense
Advocacy and events
Regulatory and governance
**Total 2024**|**Apprentice-**
**ships**
**Central**
**2024**
**2024**
**£**
**£**
-
271,707
-
1,967
-
18,780
-
20,789
-
43,519
-
617
-
548
-
7,042
-
31,471
-
7,784
-
12,176
-
833
-
33,492
-
40
-
10,760
-
2,682
-
8,800
-
-
-
16,883
-
119
-
490,009|**Total**
**funds**
**2024**
**£**
_Total_
_funds_
_2023_
_£_
**271,707**
_258,092_
**1,967**
_-_
**18,780**
_18,810_
**20,789**
_24,038_
**43,519**
_16,800_
**617**
_309_
**548**
_-_
**7,042**
_2,129_
**31,471**
_24,886_
**7,784**
_4,432_
**12,176**
_15,524_
**833**
_77_
**33,492**
_32,618_
**40**
_-_
**10,760**
_9,983_
**2,682**
_-_
**8,800**
_10,522_
**-**
_23,280_
**16,883**
_-_
**119**
_-_
**490,009**
_441,500_|
|---|---|---|
Included within Accountancy and Audit Fees above are audit fees totalling £9,000 (2023: £9,000).
49
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **8. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
The average number of persons employed by the Charity during the year was
Administration|**2024**
**£**
**1,496,910**
**81,715**
**17,970**
**1,596,595**
as follows:
**2024**
**No.**
**16**|_2023_
_£_
_858,162_
_61,885_
_12,318_|
|---|---|---|
|||_932,365_|
|||_2023_
_No._
_26_|
In addition to the administration staff, there were 142 (2023: 136) active tutors that were employed by the Charity during the year.
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**2024**|_2023_|
|---|---|---|---|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**1**|_-_|
|In the band £70,001|- £80,000|**1**|_-_|
Remuneration costs including employer's National Insurance and pension contributions in respect of key management personnel totalled £280,925 (2023: £181,346) for the year.
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 August 2024, expenses totalling _£_ 292 were reimbursed or paid directly to 1 Trustee _(2023 - £647 to 1 Trustee)_ .
50
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **10. Intangible assets**
|**Cost**
Additions
At 31 August 2024
**Net book value**
At 31 August 2024
_At 31 August 2023_
**11.**
**Tangible fixed assets**
**Cost or valuation**
Additions
At 31 August 2024
**Depreciation**
Charge for the year
At 31 August 2024
**Net book value**
At 31 August 2024
_At 31 August 2023_||**Database**
**development**
**£**
**87,656**
**87,656**
**87,656**
_-_
**Computer**
**equipment**
**£**
**10,788**
**10,788**
**1,967**
**1,967**
**8,821**
_-_|
|---|---|---|
||||
||||
||||
||||
51
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **12. Debtors**
|**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income
**Creditors: Amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 September
Resources deferred during the year
Amounts released from previous periods|**2024**
**£**
**16,717**
**1,194**
**39,667**
**57,578**
**2024**
**£**
**30,762**
**23,183**
**3,530**
**30,824**
**88,299**
**2024**
**£**
**83,990**
**15,000**
**(83,990)**
**15,000**|_2023_
_£_
_60,765_
_790_
_19,612_
_81,167_
_2023_
_£_
_10,016_
_32,895_
_5,059_
_101,373_
_149,343_
_2023_
_£_
_3,000_
_83,990_
_(3,000)_
_83,990_|
|---|---|---|
## **13. Creditors: Amounts falling due within one year**
Deferred income relates to invoices raised / payments received in advance for student sessions that will take place in the following academic year.
52
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
East Sussex College Group
The Dulverton Trust
Fair Education Alliance
Fidelity UK Foundation
Fiona Forbes
Wates Family Enterprise Trust
The A&O Shearman Foundation
The Clothworkers' Foundation
Merchant Taylors' Foundation
Drapers Charitable Fund
**Total funds**|**Balance at 1**
**September**
**2023**
**£**
**681,526**
**Balance at 1**
**September**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Balance at 1**
**September**
**2023**
**£**
**681,526**|**Income **
**£**
**2,107,880**
**Income**
**£**
**6,536**
**31,319**
**11,000**
**146,100**
**25,000**
**24,036**
**10,000**
**5,600**
**2,000**
**25,000**
**286,591**
**Income**
**£**
**2,394,471**|**Expenditure**
**Balance at**
**31 August**
**2024**
**£**
**£**
**(1,782,863)**
**1,006,543**
**Expenditure**
**Balance at**
**31 August**
**2024**
**£**
**£**
**(5,144)**
**1,392**
**(31,319)**
**-**
**(11,000)**
**-**
**(71,632)**
**74,468**
**(25,000)**
**-**
**(24,036)**
**-**
**(10,000)**
**-**
**-**
**5,600**
**(2,000)**
**-**
**-**
**25,000**
**(180,131)**
**106,460**
**Expenditure**
**Balance at**
**31 August**
**2024**
**£**
**£**
**(1,962,994)**
**1,113,003**|
|---|---|---|---|
53
**GET FURTHER LTD (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. Statement of funds (continued)**
|**Statement of funds - prior year**|||||
|---|---|---|---|---|
||_Balance at_|||_Balance at_|
||_1 September_|||_31 August_|
||_2022_|_Income_|_Expenditure_|_2023_|
||_£_|_£_|_£_|_£_|
|**Unrestricted funds**|||||
|General Funds - all funds|_765,031_|_1,092,302_|_(1,175,807)_|_681,526_|
Restricted funds comprise:
East Sussex College Group - funding received for hosting industry placements.
The Dulverton Trust - funds received for regional programmes.
Fair Education Alliance - funds received for advocacy work.
Fidelity UK Foundation - funding towards the Digital Product Manager and Director of System roles.
Fiona Forbes - funds received towards the apprenticeship programme.
Wates Family Enterprise Trust - funding for the development and delivery of a fast-track, preapprenticeship programme for post 19 year olds.
The A&O Shearman Foundation - funds received towards set up costs to extend work across Tower Hamlets and Hackney.
The Clothworkers' Foundation - funding received towards capital expenditure.
Merchant Taylors' Foundation - funding for work in the London boroughs of Southwark, Lewisham, Hackney, and Tower Hamlets.
Drapers Charitable Fund - funding for programmes in Greater London.
54
**(A Company Limited by Guarantee)**
## **GET FURTHER LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **15. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2024**
**£**
8,821
87,656
983,365
(73,299)
1,006,543|**Restricted**
**funds**
**2024**
**£**
-
-
121,460
(15,000)
106,460|**Total**
**funds**
**2024**
**£**
**8,821**
**87,656**
**1,104,825**
**(88,299)**
**1,113,003**|
|---|---|---|---|
## **Analysis of net assets between funds - prior period**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2023_
_£_
_830,869_
_(149,343)_
_681,526_|_Total_
_funds_
_2023_
_£_
_830,869_
_(149,343)_
_681,526_|
|---|---|---|
## **16. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the period (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash provided by/(used in) operating activities**|**2024**
**£**
**431,477**
**1,967**
**23,589**
**(61,046)**
**395,987**|_2023_
_£_
_(83,505)_
_-_
_(73,822)_
_109,400_
_(47,927)_|
|---|---|---|
55
## **GET FURTHER LTD**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **17. Analysis of cash and cash equivalents**
|Cash in hand
**Total cash and cash equivalents**|**2024**
**£**
**1,047,247**
**1,047,247**|_2023_
_£_
_749,702_
_749,702_|
|---|---|---|
## **18. Analysis of changes in net debt**
|Cash at bank and in hand|**At 1**
**September**
**2023**
**£**
**749,702**
**749,702**|**Cash flows**
**£**
**297,545**
**297,545**|**At 31**
**August 2024**
**£**
**1,047,247**
**1,047,247**|
|---|---|---|---|
## **19. Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £17,970 (2023: £12,318). At the balance sheet date, contributions payable to the fund at the balance sheet date totalled £3,530 (2023: £5,059) and are included in creditors.
## **20. Related party transactions**
During the year, the Charity received donations from trustees totalling £25,000 (2023: £nil) towards restricted funds. No other restrictions were atached to these donations.
Except as disclosed above or elsewhere in these financial statements, there were no transactions with related parties requiring disclosure in either the current or prior years.