**Charity Registration No. 1191176**
**Company Registration No. CE023817 (Northern Ireland)**
**NEXT STEP FOUNDATION TRUSTEES' REPORT AND UNAUDITED ACCOUNTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **NEXT STEP FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr D Wellesley-Wesley Mr C Bonas Mr J Higgins Mr B King Mr M Omar **Charity number** 1191176 **Company number** CE023817 **Registered office** The Engine Room 18 Battersea Power Station London SW11 8BZ **Independent examiner** Shorthouse & Martin Limited Worthy House 14 Winchester Road Basingstoke Hampshire RG21 8UQ
## **NEXT STEP FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiners' report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the accounts|6 - 9|
## **NEXT STEP FOUNDATION**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
The trustees present their report and accounts for the year ended 30 September 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in October 2019.
## **Structure, governance and management**
The charity is a Charitable Incorporated Organisation (CIO), governed by it's 'Foundation' Model Constitution dated 21 April 2022.
The trustees who served during the year were: Mr D Wellesley-Wesley Mr C Bonas Mr J Higgins Mr B King (Appointed 9 December 2023) Mr M Omar (Appointed 9 December 2023)
## **Recruitment and appointment of trustees**
- (a) There must be a minimum of three charity trustees and a maximum of twelve.
- (b) New trustees are appointed by resolution at a properly convened meeting of the charity trustees.
- (c) Trustees are selected based on the skills, knowledge and experience needed for effective administration.
## **Organisational structure**
Ms A Martin-Carey resigned as Chief Executive Officer (CEO) in March 2024. Mr Nathan Lawson resumed oversight as caretaker manager of the Foundation.
## **Risks**
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Objectives and activities**
The charity's objects are to advance education for the public benefit by delivering courses to students living in the UK who come from underprivileged backgrounds in order to help them make successful applications to undergraduate programmes at UK Universities. "Underprivileged background" is defined by adherence to one or more of UK Universities' widening participation criteria.
The charity's main activities during the year were:
- Delivering a 10-month online university preparation programme.
- Establishing and maintaining relationships with partner schools and multi-academy trusts (MATs).
- Developing resources and materials.
- Conducting a student selection process.
- Onboarding, training and employing tutors and experts.
- Evaluating the programme and hosting events for participants and alumni.
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## **NEXT STEP FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
## **Achievements and performance**
2024 Achievements:
- Enrolled 120 students onto the programme.
- Maintained a 32% or higher acceptance rate to Oxford or Cambridge universities.
- Achieved a 97% rate of scholars going on to a Russell Group university.
- Improved application process and communications with school partners.
- New partner school relationship launched in Manchester.
## **Fundraising achievements**
- New multi-year grant secured from ongoing supporter, Garfield and Weston, securing funding for 2 further years at £20,000.
- Diversified income after becoming a Manchester-based teacher agency's charity partner of the year for minimum 3-year agreement.
- Secured important and generous in-kind support for fundraising from friends of the charity.
- Secured funding for schools in Essex and North London with a grant from Charles French.
## **Financial review**
The charity's financial position at the end of the period is healthy. With an established programme and network of professionals to support in delivering it, we can plan to maintain or slightly increase participant numbers. The confidence demonstrated by our funders in renewing multi-year grants should serve to further increase our funding levels.
## **Reserves policy**
Unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to between three to six months' expenditure. This level of reserves ensures continuity of the charity's activities in the event of a significant drop in funding. This level of reserves has been maintained throughout the period.
On behalf of the board of trustees
**Mr J Higgins** Trustee Dated: 29 July 2025
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## **NEXT STEP FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEXT STEP FOUNDATION**
I report on the accounts of the charity for the year ended 30 September 2024, which are set out on pages 4 to 9.
## **Respective responsibilities of trustees and examiner**
The trustees, who are also the directors of Next Step Foundation for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, the 2011 Act, and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent
examination, it is my responsibility to:
- (i) examine the accounts under section 145 of the 2011 Act;
- (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- (iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- (ii) to prepare accounts which accord with the accounting records, comply with the accounting requirements of 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jodie Saunders Shorthouse & Martin Limited
Worthy House 14 Winchester Road Basingstoke Hampshire RG21 8UQ
Dated: 29 July 2025
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## **NEXT STEP FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2024**
**Notes**
**£**
**£**
**£**
**Incoming resources from generated funds**
Donations and legacies
**2**
**-**
**-**
**-**
Investment income
**3**
**-**
**-**
**-**
**-**
**-**
**-**
Incoming resources from charitable activities
**4**
**-**
**20,600**
**20,600**
**Total incoming resources**
**-**
**20,600**
**20,600**
**Resources expended**
**5**
**Charitable activities**
University preparation programme
**-**
**32,874**
**32,874**
Governance costs
**4,655**
**-**
**4,655**
**Total resources expended**
**4,655**
**32,874**
**37,529**
**Net expenditure for the year/**
**Net movement in funds**
**(4,655)**
**(12,274)**
**(16,929)**
Fund balances at 1 October 2023
**24,413**
**29,950**
**54,363**
**Fund balances at 30 September 2024**
**19,758**
**17,676**
**37,434**|Total
2023
£
1,050
2
1,052
61,000
62,052
63,110
4,045
67,155
(5,103)
59,466
54,363|
|---|---|
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## **NEXT STEP FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 30 SEPTEMBER 2024**_
|**Notes**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**10**
**Total assets less current liabilities**
**Income funds**
Restricted funds
**11**
Unrestricted funds|**2024**
**£**
**1,115**
**45,532**
**46,647**
**(9,213)**|2023
**£**
£
2,755
67,702
70,457
(16,094)
**37,434**
**17,676**
**19,758**
**37,434**|£
54,363|
|---|---|---|---|
||||29,950
24,413|
||||54,363|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The accounts were approved by the Board on 29 July 2025
Mr J Higgins **Trustee**
## **Company Registration No. CE023817**
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## **NEXT STEP FOUNDATION**
## **NOTES TO THE ACCOUNTS**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
## **1 Accounting policies**
## **1.1 Basis of preparation**
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Companies Act 2006.
## **2 Donations and legacies**
|Donations and gifts
**3**
**Investment income**
Interest receivable
**4**
**Incoming resources from charitable activities**
Grant funding receivable|**Total**
**2024**
**£**
**-**
**Total**
**2024**
**£**
**-**
**2024**
**£**
**20,600**|Total
2023
£
1,050|
|---|---|---|
|||Total
2023
£
2|
|||2023
£
61,000|
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## **NEXT STEP FOUNDATION**
## **NOTES TO THE ACCOUNTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
## **5 Total resources expended**
|**Charitable activities**
University preparation programme
Activities undertaken directly
Support costs
Total
**Governance costs**|**2024**
**£**
_26,375_
_6,499_
**32,874**
**4,655**
**37,529**|2023
£
_51,513_
_11,597_
63,110
4,045|
|---|---|---|
|||67,155|
Governance costs includes payments to the independent examiners of £2,400 (2023: £2,400) for independent examination fees.
## **6 Support costs**
|IT software & maintenance
Staff costs|**2024**
£
**5,237**
**1,262**
**6,499**|2023
£
8,978
2,619|
|---|---|---|
|||11,597|
## **7 Trustees**
One of the trustees (or any persons connected with them) received £6,450 (2023: £8,400) in remuneration during the year for acting as the CEO of the charity whilst a new one was recruited; he was also reimbursed a total of £368 (2023: £585) travelling expenses.
## **8 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|||**2024**|2023|
|---|---|---|---|
|||**Number**|Number|
|Chief|Executive Officer|**-**|1|
|There|were no employees whose annual remuneration was £60,000 or more.|||
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## **NEXT STEP FOUNDATION**
## **NOTES TO THE ACCOUNTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
|**9**
**Debtors**
Other debtors
Prepayments and accrued income
**10**
**Creditors: amounts falling due within one year**
Social security and income tax
Trade creditors
Accruals|**2024**
**£**
**1,115**
**-**
**1,115**
**2024**
**£**
**833**
**4,562**
**3,818**
**9,213**|2023
£
1,115
1,640|
|---|---|---|
|||2,755|
|||2023
£
-
1,674
14,420|
|||16,094|
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**NOTES TO THE ACCOUNTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
## **NEXT STEP FOUNDATION**
## **11 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|||**Movement**|**in funds**||
|---|---|---|---|---|
||**Balance at 1**|**Incoming**|**Resources**|**Balance at 30**|
||**October**|**resources**|**expended**|**September**|
||**2023**|||**2024**|
||**£**|**£**|**£**|**£**|
|The Jordan Charitable Foundation|23,750|-|(23,750)|**-**|
|The Worshipful Company of Pewterers - Seahorse|||||
|Grant|1,200|9,000|(2,400)|**7,800**|
|Garfield Weston Foundation|2,000|10,000|(2,764)|**9,236**|
|Hiscox Foundation|3,000|-|(3,000)|**-**|
|Charles French|-|1,600|(960)|**640**|
||29,950|20,600|(32,874)|**17,676**|
## **The Jordan Charitable Foundation**
This fund is restricted to providing the support to increase in student intake on the University Preparation Programme to 120 students and to maintain this in future years.
## **The Worshipful Company of Pewterers**
This fund is restricted for the purpose of supporting 6 young people from Sheffield and South Yorkshire through the University Preparation Programme.
## **Garfield Weston Foundation**
This fund is restricted for the purpose of supporting 20 young people through the University Preparation Programme.
## **Hiscox Foundation**
This fund is restricted for the purpose of supporting 30 young people through the University Preparation Programme.
## **Charles French**
This fund is restricted for the purpose of providing the University Preparation Programme to young people in North East London or Essex.
## **12 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**£**
**£**
Fund balances at 30 September 2024 are represented by:
Current assets
22,383
24,264
Creditors: amounts falling due within one year
(2,625)
(6,588)
19,758
17,676|**Total**
**£**
**46,647**
**(9,213)**
**37,434**|
|---|---|
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