Charity Registration No. 1191176
Company Registration No. CE023817 (Northern Ireland)
NEXT STEP FOUNDATION TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
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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
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CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiners' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 9 |
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TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
The trustees present their report and accounts for the year ended 30 September 2025.
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 Mr M Omar
Recruitment and appointment of trustees
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(a) There must be a minimum of three charity trustees and a maximum of twelve.
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(b) New trustees are appointed by resolution at a properly convened meeting of the charity trustees.
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(c) Trustees are selected based on the skills, knowledge and experience needed for effective administration.
Organisational structure
Mr J Higgins agreed to assume caretaker manager duties in July 2025 as approved by the board of trustees.
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:
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Delivering the online university preparation programme.
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Establishing and maintaining relationships with partner schools and multi-academy trusts (MATs).
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Developing resources and materials.
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Conducting a student selection process.
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Onboarding, training and employing tutors and experts.
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Evaluating the programme and hosting events for participants and alumni.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance
2025 Achievements:
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Enrolled 95 students onto the programme.
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Achieved a 27% acceptance rate to Oxford or Cambridge universities.
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Achieved a 95% rate of scholars going on to a Russell Group university.
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Navigated a challenging leadership period and ensured programme delivery beginning for key partner schools - results of students due shortly and will be reflected in next year's report.
Fundraising achievements
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Maintained multi-year grant secured from long-standing supporter, Garfield and Weston, delivering against the grant’s requirements.
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Continued to work with Manchester-based teacher agency and deepened relationship.
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Secured important and generous in-kind support for fundraising from friends of the charity. ∙Ensured delivery of programme for Charles French-supported in students in Essex and North London and Pewterers-supported students in Sheffield and South Yorkshire to maintain multi-year funding from each of those organisations.
Financial review
The charity's financial position at the end of the period is satisfactory. With an established programme and network of professionals, the charity will be able to meet its obligations in terms of delivering for students for which funing has been supported. The coming year needs careful management and stability in order to deliver the programme and then a renewed effort in the following year to build up funds and charity reserves once again.
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
SIGN
Mr D Wellesley-Wesley
Trustee Dated: 30 July 2026
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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 2025, 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:
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(i) examine the accounts under section 145 of the 2011 Act;
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(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
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(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
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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(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;
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(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 ACA Shorthouse & Martin Limited
Worthy House 14 Winchester Road Basingstoke Hampshire RG21 8UQ
Dated: 30 July 2026
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STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Unrestricted Restricted funds funds Notes £ £ Incoming resources from generated funds Incoming resources from charitable activities 2 - 16,000 Resources expended 3 Charitable activities University preparation programme - 13,720 Governance costs 3,662 - Total resources expended 3,662 13,720 Net (expenditure)/income for the year/ Net movement in funds (3,662) 2,280 Fund balances at 1 October 2024 19,758 17,676 Fund balances at 30 September 2025 16,096 19,956 |
Total Total 2025 2024 £ £ 16,000 20,600 13,720 32,874 3,662 4,655 17,382 37,529 (1,382) (16,929) 37,434 54,363 36,052 37,434 |
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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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BALANCE SHEET
AS AT 30 SEPTEMBER 2025
| Notes Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Income funds Restricted funds 10 Unrestricted funds |
2025 £ - 44,415 44,415 (8,812) |
£ 449 35,603 36,052 19,956 16,096 36,052 |
2024 £ 1,115 45,532 46,647 (9,213) |
£ - 37,434 |
|---|---|---|---|---|
| 37,434 | ||||
| 17,676 19,758 |
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| 37,434 |
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 2025. 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 30 July 2026
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SIGN
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Mr D Wellesley-Wesley
Trustee
Company Registration No. CE023817
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NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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.
1.2 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery 25% on cost
2 Incoming resources from charitable activities
| 3 | Grant funding receivable Total resources expended Depreciation £ Charitable activities University preparation programme Activities undertaken directly - Support costs - Total - Governance costs 350 350 |
Other costs £ 10,767 2,953 13,720 3,312 17,032 |
2025 £ 16,000 Total 2025 £ 10,767 2,953 13,720 3,662 17,382 |
2024 £ 20,600 |
|---|---|---|---|---|
| Total 2024 £ 26,375 6,499 32,874 4,655 |
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| 37,529 |
Governance costs includes payments to the independent examiners of £1,250 (2024: £2,400) for independent examination fees.
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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
4 Support costs
| Support costs | ||
|---|---|---|
| IT software & maintenance Staff costs |
2025 £ 2,953 - 2,953 |
2024 £ 5,237 1,262 |
| 6,499 |
5 Trustees
One of the trustees (or any persons connected with them) received £10,800 (2024: £6,450) 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 £0 (2024: £368) travelling expenses.
6 Employees
There were no employees during the year.
There were no employees whose annual remuneration was £60,000 or more.
7 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Plant and | |
| machinery | |
| £ | |
| Cost | |
| At 1 October 2024 | - |
| Additions | 799 |
| At 30 September 2025 | 799 |
| Depreciation | |
| At 1 October 2024 | - |
| Charge for the year | 350 |
| At 30 September 2025 | 350 |
| Net book value | |
| At 30 September 2025 | 449 |
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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 8 Debtors Other debtors 9 Creditors: amounts falling due within one year Social security and income tax Trade creditors Accruals |
2025 £ - 2025 £ - 4,562 4,250 8,812 |
2024 £ 1,115 |
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| 2024 £ 833 4,562 3,818 |
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| 9,213 |
10 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 | |
| 2024 | 2025 | |||
| £ | £ | £ | £ | |
| The Worshipful Company of Pewterers - Seahorse | ||||
| Grant | 7,800 | 6,000 | (9,000) | 4,800 |
| Garfield Weston Foundation | 9,236 | 10,000 | (4,080) | 15,156 |
| Charles French | 640 | - | (640) | - |
| 17,676 | 16,000 | (13,720) | 19,956 |
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.
Charles French
This fund is restricted for the purpose of providing the University Preparation Programme to young people in North East London or Essex.
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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 11 Analysis of net assets between funds Unrestricted funds Restricted funds £ £ Fund balances at 30 September 2025 are represented by: Tangible fixed assets 449 - Current assets 17,197 27,218 Creditors: amounts falling due within one year (1,550) (7,262) 16,096 19,956 |
Total £ 449 44,415 (8,812) 36,052 |
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