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2025-12-31-accounts

REGENERATE TRUST

Company Number : 12346123

Registration Charity Number : 1191234

ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

REGENERATE TRUST

INDEX

Page
Reference and administrative information 1
Trustees' Annual Report 2-5
Independent examiner's report 6
Statement of financial activities 7
Balance Sheet 8
Notes to the accounts 9-13

REGENERATE TRUST TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025

REFERENCE AND ADMINISTRATIVE INFORMATION

Trustees and directors

Matt Isaacs (Chairman) Richard Brass Gi Fernando MBE Luke Fletcher (appointed 19 March 2026) Devina Paul Anna Swaithes

Executive team/Key management personnel in the year

Ed Boyd (Executive Director) Claire Hamlin (Managing Director)

Company registration number

12346123

Registered Charity number

1191234

Registered office and contact address

Fivefields 8-10 Grosvenor Gardens London SW1W 0DH

Website

www.re-generate.org

Independent examiner

Daniel Valentine, ACA, Begbies Chartered Accountants Unit 14, Park Barn, Evegate Business Park, Smeeth, Ashford TN25 6SX

Bankers

Barclays Bank

1

REGENERATE TRUST TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees, who are also members and directors of the charitable company for the purposes of the Companies Act, submit their annual report and accounts for the year ended 31 December 2025.

The Trustees confirm that the Annual Report and Accounts have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published on 16 July 2014.

Objectives and activities for the public benefit

The charitable company was incorporated on 3 December 2019 and became a registered charity on 10 September 2020.

The objects of the company are for the public benefit to: 1) advance education and promote study and research including without limitation in the subjects of sustainable development and responsible and purposeful business and to publish and disseminate the useful results of such study and research; 2) promote ethical standards and conduct in business through the provision of education and advice to purpose-driven businesses and encouraging the adoption and application of high standards of business ethics and governance and thereby: (a) maximising the material positive impact of business activities on people and the environment affected by such activities; and (b) minimising the negative effects of business activities on people and the environment affected by such activities.

The charity’s trustees have complied with their duty in Section 17(5) of the 2011 Charities Act to have due regard to public benefit guidance published by the Charity Commission.

Mission

ReGenerate Trust pioneers business solutions to the UK’s biggest social and environmental challenges.

We focus on unlocking the win-win opportunities where businesses—through their unique capacity to innovate and scale—can actively address the pressing issues of our time, from breaking down barriers to employment to climate change. We believe that businesses that operate in a purpose-driven way tend to be more successful and are key to driving economic growth.

Organisation, Structure and Governance

ReGenerate Trust is a charitable company limited by guarantee. It is governed by its Memorandum and Articles of Association. The trustees and directors are listed on page 1.

The trustees are appointed through recommendation based on knowledge of and commitment to the aims of the charity.

2

REGENERATE TRUST TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025

Decisions are taken in the following way:

The trustees are aware of the principles and recommended practice for good governance set out in the Charity Governance Code.

Activities and achievements

We pursued our purpose to advance education and promote study and research including without limitation in the subjects of sustainable development and responsible and purposeful business and to publish and disseminate the useful results of such study and research by undertaking the following research, ecosystem mapping and events:

We pursued our purpose to promote ethical standards and conduct in business through the provision of education and advice to purpose-driven businesses and encouraging the adoption and application of high standards of business ethics and governance. Activities undertaken included:

3

REGENERATE TRUST TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025

Looking forward

In 2026, in delivering on its ambitions and in mitigation of the risks listed under ‘Risk Management’ below, Regenerate Trust will undertake the following major activities.

Financial Review

Total income increased by £144,247 (21.8%) to £804,076. Total expenditure rose by £132,766 (27.7%) to £612,589. The charity recorded a surplus for the year of £191,487 (2024: £180,006). Reserves at 31 December 2025 are £549,087, of which £283,095 are restricted.

Reserves Policy

The trustees have agreed that the reserves policy is to have adequate unrestricted reserves to sustain the early development of the charity and have a target of holding at least three months of predicted regular expenditure, primarily the salaries of the Executive Team, supporting contracted research costs and accounting and compliance costs.

At the year end the charity had total unrestricted funds of £265,992. Holding reserves at this level and at this time is deemed to be prudent and recognises that there will be additional costs over and above regular running costs as the charity seeks to establish its purpose. This necessarily includes spending executive time on attracting new sources of funding, the timing of which is unpredictable, and time on evolving our research capacity and capabilities to have sufficient capacity ahead of delivering the quality of applied research we are endeavouring to provide within the timescales demanded by our funders.

Risk management

The trustees are responsible for identifying the major risks to which the Charity is exposed and ensuring that steps are taken to manage those risks. The charity maintains a risk register, which it reviews throughout the year, with an annual deep dive in addition. The major risks identified by the trustees and Executive Team include the following; publishing something that is not in line with the charity’s objects, publishing incorrect information, failing to raise sufficient funds to cover the charity’s operating costs, and maintaining the ability to execute excellently across different types of work.

4

REGENERATE TRUST TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees’ responsibilities in relation to the financial statements

The Trustees (who are also directors for the purposes of company law) are responsible for the preparation of the Annual Report and the financial statements in accordance with UK Generally Accepted Accounting Practice (UK Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with 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 (Charities SORP (FRS 102)) published on 16 July 2014 and in accordance with the special provisions of the Companies Act 2006 relating to small companies (section 419(2)).

This report was approved by the board on 19 March 2026 and signed on its behalf by:

Mr M F A Isaacs – Chairman

5

REGENERATE TRUST

Company reg no. 12346123. Registered Charity no. 1191234. INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025

I report to the charity trustees on the accounts of the charitable company for the year ended 31 December 2025, which are set out on pages 7 to 13.

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s report

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or

  2. the accounts do not accord with those accounting records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Daniel M Valentine ACA Begbies Chartered Accountants Unit 14, Park Barn Evegate Business Park, Smeeth Ashford Kent TN25 6SX 26 March 2026

6

REGENERATE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2025

Restricted
Unrestricted
Funds
Fund
2025
Note
£
£
£
Income from:
Donations and legacies
Grants and donations
2
549,465
221,950
771,415
Gift Aid
6,375
1,125
7,500
Donated services
2
-
-
-
Investments -
Bank interest
-
3,243
3,243
Other
Cabinet Office salary contribution
-
21,918
21,918
Total income
555,840
248,236
804,076
Expenditure on:
Charitable activities
3
420,450
192,139
612,589
Total expenditure
420,450
192,139
612,589
Net income / (expenditure)
135,390
56,097
191,487
Transfers between funds
-
-
-
Net movement in funds
135,390
56,097
191,487
Reconciliation of funds:
147,705
209,895
357,600
Total funds carried forward
283,095
265,992
549,087
Total funds brought forward		 Restricted Unrestricted
Funds
Fund
2024
£
£
£
412,866
236,143
649,009
6,375
1,565
7,940
-
2,880
2,880
-
-
-
-
-
-
419,241
240,588
659,829
309,226
170,597
479,823
309,226
170,597
479,823
110,015
69,991
180,006
-
-
-
110,015
69,991
180,006
37,690
139,904
177,594
147,705
209,895
357,600

The notes on pages 9 to 13 form part of these financial statements.

The Statement of Financial Activities includes all gains and losses in the period. All income and expenditure derive from continuing activities.

7

REGENERATE TRUST

Company reg no. 12346123. Registered Charity no. 1191234.

BALANCE SHEET AS AT 31 DECEMBER 2025

Notes
FIXED ASSETS:
Tangible assets
7
CURRENT ASSETS:
Debtors
8
Cash at bank
Total current assets
LIABILITIES:
Creditors:amounts falling due within one year:
9
Net current assets
NET ASSETS
THE FUNDS OF THE CHARITY:
Restricted funds
11
Unrestricted fund
11
TOTAL CHARITY FUNDS
11		 £
£
£
£
1,933
308
22,592
19,142
554,469
363,878
577,061
383,020
(29,907)
(25,728)
547,154
357,292
549,087
357,600
283,095
147,705
265,992
209,895
549,087
357,600
2025
2024

The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.

For the year in question the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Act.

The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The financial statements were approved by the Trustees on 19 March 2026 and signed on their behalf.

Mr M F A Isaacs – Chairman

The notes on pages 9 to 13 form part of these financial statements.

8

REGENERATE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding period.

(a) Basis of accounting and assessment of going concern

The financial statements of the charity have been prepared in accordance with 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 (Charities SORP (FRS 102)) published on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

(b) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of grants. Further details can be found in note 13.

(c) Income recognition

All income is included in the statement of financial activities when the charity is entitled to the income, it is probable that the income will be received and the amount can be quantified with reasonable accuracy.

Grants are recognised when the charity has an entitlement to the funds and conditions linked to the grant has been met.Where performance conditions are attached to the grant and are yet to be met or where it relates to a time period after the accounting reference date, the income is recognised as a liability and included on the balance sheet as deferred income.

(d) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner's fees and costs linked to the strategic management of the charity.

9

REGENERATE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. ACCOUNTING POLICIES CONTINUED

(e) Tangible fixed assets and depreciation.

Individual fixed assets costing more than £500 are initially recorded at cost, less any subsequent accumulated depreciation and impairment losses.

Depreciation has been computed to write off the cost to residual value over their useful lives at the following rates:-

Fixtures, fittings and equipment - 25% straight line method

(f) 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.

2. GRANTS RECEIVABLE

No government grants were received in 2025 and 2024.

From 1 January 2024 to 31 March 2024, the charity received office space at no charge. The value of this service is estimated at £2,880 and is recognised within incoming resources as a donation, and an equivalent charge included within rent.

3. EXPENDITURE ON CHARITABLE ACTIVITIES

Employee costs (Note 4)
Pension provider costs
Staff training
PA/secretarial support
Freelance support
Rent
Other staff costs
Recruitment costs
Travel
Research & subcontracted services
Conferences and events
PR, marketing and website costs
IT services & software costs
Insurance
Charitable donations
Bank charges
Sundry expenses
Depreciation
Governance costs
Legal fees
Accountancy & independent
examination		 Restricted
Unrestricted
2025
£
£
£
400,366
107,904
508,270
-
679
679
-
7,996
7,996
-
7,570
7,570
-
9,600
9,600
-
15,939
15,939
-
3,059
3,059
-
9,422
9,422
-
1,260
1,260
14,730
619
15,349
5,354
-
5,354
-
4,983
4,983
-
2,569
2,569
-
1,119
1,119
5,000
5,000
-
110
110
-
1,907
1,907
-
333
333
420,450
180,069
600,519
-
9,300
9,300
-
2,770
2,770
420,450
192,139
612,589		 Restricted
Unrestricted
2024
£
£
£
256,909
115,275
372,184
-
641
641
-
1,632
1,632
-
7,023
7,023
-
11,040
11,040
-
10,894
10,894
-
2,661
2,661
-
2,714
2,714
-
1,608
1,608
52,317
-
52,317
-
-
-
-
3,172
3,172
-
1,396
1,396
-
1,313
1,313
-
-
-
-
102
102
-
2,303
2,303
-
273
273
309,226
162,047
471,273
-
5,400
5,400
-
3,150
3,150
309,226
170,597
479,823

10

REGENERATE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.
EMPLOYEES
Gross salaries
Social security costs (less Employment Allowance)
Ex-gratia payment
Pension costs		 2025
2024
£
£
446,590
316,109
49,835
33,288
-
17,866
11,845
4,921
508,270
372,184

The charity had 6 employees during the year to 31 December 2025 (2024: 4 employees)

The table below shows the number of higher-paid staff with emoluments falling in the following ranges. Emoluments include salary and taxable benefits in kind and other payments to employees, but exclude employer pension costs.

£60,000-£70,000
£70,000-£80,000
£80,000-£90,000
£100,000-£110,000
£120,000-£130,000
Total remuneration and benefits received by the charity's key management
personnel (incl. employer's pension contributions and NI)		 2025
2024
No.
No.
-
1
1
0
1
-
-
2
1
0
2025
2024
£
£
203,350
315,207

5. TAXATION

As a charity, Regeneration Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity (2024: nil).

6. TRUSTEES REMUNERATION AND EXPENSES

None of the trustees received remuneration or were reimbursed expenses during the year (2024: no trustee and £nil of expenses).

11

REGENERATE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7. TANGIBLE FIXED ASSETS
Furniture &
equipment
COST £
At 1 January 2025 1,538
Additions 1,958
At 31 December 2025 3,496
DEPRECIATION
At 1 January 2025
Charge for the year		 1,230
333
At 31 December 2025 1,563
NET BOOK VALUE
At 31 December 2025		 1,933
At 31 December 2024 308
8. DEBTORS
Trade debtors
Other debtors		 2025
£
22,000
592		 2024
£
10,000
9,142
22,592 19,142
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
PAYE & NIC
Accruals and deferred income		 2025
£
3,607
19,033
7,267		 2024
£
2,684
18,177
4,867
29,907 25,728
**10. ** ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Fund
Restricted
Funds Total Funds
Unrestricted
Fund
£
£
£
£
Fixed assets
1,933
-
1,933
308
Net current assets
264,059
283,095
547,154
209,587
2025		 Restricted
Funds
£
-
147,705
2024		 Total Funds
£
308
357,292
265,992
283,095
549,087
209,895		 147,705 357,600

12

REGENERATE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

11. MOVEMENT IN FUNDS
Restricted funds:
Government Programme
Early Childhood Development Project
Other
Unrestricted general reserve
Restricted funds:
Government Programme
Early Childhood Development Project
Other
Unrestricted general reserve
Good Jobs Project
Good Jobs Project		 At 1
January
2025
Income
Expenditure
At 31
December
2025
£
£
£
£
8,500
142,375
(96,836)
54,039
34,522
328,465
(193,038)
169,949
99,452
85,000
(125,345)
59,107
5,231
-
(5,231)
-
147,705
555,840
(420,450)
283,095
209,895
248,236
(192,139)
265,992
357,600
804,076
(612,589)
549,087
At 1
January
2024
Income
Expenditure
At 31
December
2024
£
£
£
£
-
163,625
(155,125)
8,500
37,690
98,366
(101,534)
34,522
-
144,500
(45,048)
99,452
12,750
(7,519)
5,231
37,690
419,241
(309,226)
147,705
139,904
240,588
(170,597)
209,895
177,594
659,829
(479,823)
357,600

Government Programme - Educating the government and other key decision makers on how to support purpose-driven business in the UK.

Good Jobs Project - helping find systemic ways of filling the UK's labour vacancies with people with barriers to work.

Early Childhood Development Project - exploring how businesses can support Early Childhood Development outcomes in a way that makes business sense.

12. LIMITED BY GUARANTEE AND REGISTERED OFFICE

The charity is a company limited by guarantee registered in England and Wales. The registered office is Fivefields, 8-10 Grosvenor Gardens, London SW1W 0DH.

Every member undertakes, if the charity is dissolved while he, she or it remains a member or within 12 months afterwards, to pay up to £1 towards the costs of dissolution and the liabilities incurred by the charity while the contributor was a member.

13