Company registration number.. 12482580 Charity registration number. 1193025 The Centre for Transforming Access and Student Outcomes in Higher Education IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 202S Innovi Advisors Lttl Chartered Certffied Accountsnts and Statutory Auditors 163 Heme Hill London SE24 9LR
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Contents Reference and Administrative Details Trustees. Report 21010 Independent Auditors, Report 11 10 14 Statement of Financial A1ve$ 15 10 16 Statement of Financial POS"0n 17 Statement of Cash Flows 18 Notes lo the Financial Stslements 191032
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Reference and Administrative Details Chairnian Prof E A Simmons Charity Registration Numb8r 1193025 Company Rogistration Numb•r 12482580 Register8d Office 58 Victoria Embankment Temple London EC4Y ODS AudStor Innovi Advisors Ltd Chartered Cerb'fied Accountants and Statutory Auditors 163 Heme Hill London SE24 9LR Page 1
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report Introduction The Trustees present our statutory report together with the financial statements of the Centre for Transforming Access and Sludenl Outcome5 in Higher Educabon ITASOI for the year ended 31 March 2025. The report. vthich constitutes a Twstees, report for the purposes of ¢harty law and a Directors, report for the purposes of company law. has been prepared in accordance wth Part 8 of the Charities Act 2011. The financial statements have been ppared in accordance with the accounb.ng ptslicies sel out on pages 16 of the attached financial statements and comply wth the charitable company's Memorandum and Articles of Association. applicable laws and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance wth the Financial Reporb"ng Standard applicable in the Unrted Kingdom and Republic of Ireland comprising Chanlies SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 lissue(l in October 20191 and applicable law Iunrted Kingdom Generally Accepted Accountsng Practice). OBJECTIVES AND ACTNillES OblKts and alms TASO is a registered charity. No. 1193025 TASO is a company limrted by guarantee, registered in England, No. 12482580 The charity's objects are, for the public benefft. the advancement of education by.. undertaking, Supporting and di$$eminating the usefvl results of research into inequality of opportunity to obtain access to educats'on and. in particular, barriers to accessing Higher Education supporting and promoting access lo education for those facing barriets lo access including Ibul not exclusivelyl as a result of socioeconomic background. age, race, disability, gender, sexual orientation or religion In 2024125 TASO interpreted these objects as:. 1. Changing policy and practice - Our research wll see HE instrtutions change their policieg and practices wlh the goal to reduce equalty gaps. 2. Generabng evidence - Our research programrne will produce multiple high-quality evidence-based reports. 3. Shaping the agenda - TASO 11 be * the fOfrOnt ol changing the narrative and inffluencing opinion on the importance of using evidence to tackle equality gaps. Page 2
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report 4. An effective and value5-led organisakn.on Sustainability and effectiveness of TASO, including govemance, operation5 and Systems, a hig1perfOrming team based on shared values. The Centre for Transfomiing Access and Student Outcomes in Higher Education ITASOI was set up n 2019 and became an independent chanty in April 2021. Before becoming a charity, TASO was managed by a consorb'um of King'5 Cdlege London. Nottingham Trent University and the Behavioural Insights Team. TASO is an affiliate What Woths Centre. and part of the UK Govemment's What Wotks Movement. This means that TASO is committed to the generation, synthesis and dissemination of high-quality evidence about effective pra¢ts¢e in wdening participation and slvdenl outcomes. Our vision is to eliminate equality gaps in higher education. Our mission Is lo improve lives through eviden¢e-informed practice in higher education. Objectives. strat8gies and activiti•s Prlnclpal act1v1t1. achl•vem•nts and rtornIancO TASO'S main adivilies and outputs relate to reSeah and evaluation. The below graphic outlines our evidence cycle. In our first hvo years, TASO was focused on the first phase, identifying the gap5 in the evidence. In 2024-25 we made signthcanl progress in phases 2 Igeneraling new evidence) and phase 3 (reviewing and disseminating ewdencel. As the graphic Indicates. this is a eycle. wtt) our findings now indicating and infomiing new evidence gaps and inlomiing our approach lo commissioning and generating further evidence. We are planning to reexamine our toolkit lat the top ol this cycle) now that we have 4-5 year$ of our own e¥iden¢e and infomied by best pra¢tice across the what works movement. Page 3
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report Our evaluation function is particularly important 10 5UPPOrt the wider higher education in evaluating their own activitie5. This includes our toolkit, our most visrted webpage. as well as webinars, event5, guidance and lemplales. Our research and evaluation work addresses inequalth.es across the sludenl ITfe cycle and among different student demographics. Our work Is underpinned by strong methodological and quality assurance proceilures and a number of extemal advisory groups and networks. We commission research, wth a focus on causal evidence. based on the evidence base and in consLJltation with the sector, our netyKI$ and advisory groups. As outlined further below, TASO regularly runs in person and virtual events to support our stakeholders in their work. Over the year 2024125 TASO has also widene<J and deepened its relationships across the higher education landscape. collaborating wth a number of higher education providers directly, and those working ¢)n tackling inequalitie$ in higher educatson. Publlc benefft Our Trustees have paid due regard lo the guidance on public benefit produced by the Charities Commission. ond are confident that the work of the charity meets all the ¢rrtena for public benefit. We are satisfied that we undertake all ol our VKsrk wthin our Charitable objects'ves and the public benefit requirement as defined in Section 17 of the Charities Act 2011. ACHIEVEMENTS AND PERFORMANCE In 2024125 TASO continued to produce a large number of outputs that were widely disseminated and used by the higher edu¢alion sector. These demonstrate the range ol our a¢livilies. and how our work is responsive lo the needs of the sector, and addresses the inequalities students experience. Some examples included. In 2024 TASO delivered a highly successfijl annual conference over days in Nottingham, wth 125 delegates attending from a wide range of higher education inslilLrtn$, and including a number of prominent and insightful external speakers. In June 2024 TASO published a report on the economic returns of different education pathways. This presented important evidence on the different employment outcome5 ansing for higher level qualifications (including Leve15 4, 5 and 61. and how these differ by free School meal slalus, gender and ethnicity. The novel and important findings were covered in Times Higher and shared wlh the Department for Edu¢abon and Office for Students. . We also published tsvo reports on supporting disabled sludents. The first mapped the evidence base on reasonable adiuslmenls, 5urvewng some 88 insb"tulions lo undeT5tand existing practice. This showed the variation in support offered. and suggesled ¢0MmendatIOnS lo improve the experience for di$abled students in higher education. The second provided a blueprint for supporting disabled Students, to support institutions to take up some of the recommendab'ons we suggested in the first report and lo engage dIsaed students directty. Page 4
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report A key plank of TASO'S work is to support the sector lo improve evaluab.on in their own instf(ulion. In 2024125 we Issued four key pieces of guidance. on a. data wsualVI1O, b. on irnplemenlalion and process evaluations. c. instrtulional dats and d. e¢onomi¢ evaluation. All four pieces of guidan¢e have had strong interest from the sector, and show the prath'cal utility and timeliness of our outputs for the ider sector In 2024125 commenced a number of new projects on sludenl mentsl heatth. We were very pleased to have been awarded Cabinet Office fijnding for our flagship randomised controlled trials IRCTS) on student wellbeing. This bjnding was announced by the Cabinet Office minister John Glen MP and we are working with three different institutions Northumbria University, University of Slaffordshire and University of East Anglia to help them assess the effectiveness of wellbeing inlervenlions prompted by anèlytics. TASO continues to be responsive to the diversty of the sector, and the range of student groups in higher education. In addition to the RCTS, ¥ also commissioned smaller studies on student mental health. These involved u5 developing our existing theory-based methods in new ways, working wlh two evaluators and Leeds Trinity University and St Mary's Twckenham University respectively. Our third and final group of student mental heath projects involved us commissioning quasi-experimental evaluati'ons to work with the University of Exeter and the University of East Anglia. By applying three different methods across seven interventions. but all focused on sludenl mental health and wellbeing, we are seeking to ensure greater leaming for us and the sector, both in terms of evaluation methods and in terms of sludenl mentsl health interventions. In 2024 we also began work on a major project that wll be launched in Spring 2026. namely the Higher Education Evaluation Library. Thi5 wll be a reposrtory for all higher education evaluations in England, enabling us lo understand better the range of evaluab.ons conducted, as well as enabling peer leaming. Individual higher education insblutions wll submit their evaluations lo the library, which will then be searchable by inlerventson type among Other categories. We are very excited to be launching this, and see it as a key resource that wll drive our outpuls and strategy for some years lo come. Infomilng practlc8 and debate TASO is committed to ensuring our outputs are effectively disseminated, so that they Shape practice on widening participation and sludenl success. In addrtion to produung our evidence loolkil and research, we also have held a number of online webinars. workshops antj launches lo better explain and support the sector. These have reached most HE providers in the sector and often have over 100 participants. TASO has regular meetings bmlh key stakeholders. and have been invited lo speak al a number of high-profile external events across the sector. We also have 9lar meetings wlh officials in the Department for Education and the Office for Students to ensure our activities infomi and are informed by their prioritie5. Our work wa5 cited in the Govemment's White Paper on education and Skills, published in Autumn 2025 afteT the period for these accounts but a resuk based on our ongoing strategic policy engagement. Page 5
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report Our annual conference in May 2025 convened over 120 delegates from across the sector lo discuss thi5 ongoing challenge. leam from peers and expert5. and develop evaluation expertise through workshops and interactive sessions. Opening the conference. Jacqui Smith. Minister of Stsle for Skills, said. We must break Ihe link between backgnwnd and success. and break the persislent gaps that hamper the life chances of too many people in oUrsocty." She added that, 'Peoples aspirations should be supported regardless of their background, where they Iwe and their personal circumslanc8S°. We've also continued to develop our Sector Nefv40th this year. 150 members from evaluats'on and widening-participation specialisms creating further opportunits'es for knovAedge sharing and peer learning. Our training sessions and events also expanded. providing a plafform for the further grown over the 2025 calendar year. when we hosted hosted 14 training sessions and events, ranging from Iheory-based evaluation and dats visualisalion. through to implemenlalion and process evaluation, and developing theories of change. We've delivered our Iraining and event$ to over 1,300 participants, representing more than 300 organisatsons. Flnanclal r•vl*w Policy on res•p49$ The Trustees monitor income. expenditure and cash flow through their quarterfy meetings. The Trustees remain committed lo in¢asIng the level of reseNe$ held. Currently TASO does not have a formal reserves policy. The Trustees, ambition is to carry reserves that represent three months ol the anticipated monthly expendrture. We are unable to fulfil this aim due our current fvnding arrangements. TASO is able lo request lunds from the Ofs each month rf needed. With this in mind the reserves poliw is suitsble as it mat¢he$ TAS0$ reserves to rts requirements. As TASO relies less on a sole funder. Ofs. il aims to build up free unrestricted reseNes to provide,, a level of working capital that protects the continuity of our CO wod( funding for unexpected opportunilie$ • cover for risks such as unforeseen expenditure Fundlng In 2024125 TASO had an income of £1.769,215. This includes our main yearty grant from the Office for Students. plus additional income from revenue generatson as well as income deferred from previous financial years. Our expenditure was £1.659.380. leawng a notional surplus of £109,835 of which £30,496 pertains to Restricted funds. Our carry forward of £558,675 consist of £528,179 of Unrestructed fund and £30,496 of Restricted lund. allocated to projects yet to be completed. As explaine<l in last years, accounts. there MainS a slight delay beiween our ability lo commission and contract higher education providers to work us. and expenditure on and completion of those projects, some of which are designed to last over mulb'ple years. The large majority of our carry forward fvnd5 are allocated for expenditure In 2025126 and beyorKI to analyse outcomes for those years. TASO'S fvnding is primarily provided by a grant trom the Office for Students IOfSI. TASO works closely with Ofs to ensure that fijnds are allocated approprialely. Page 6
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report Looklng Ahead Aims and kay objèctives for future periods In 2025r26 TASO wll ¢onb'ntJe to focus on the Office fr)r Sttjdenls as ils main ftjnder. seeking longer term funding where possible. At the date of this report, there has been some success in generating additional income, notably via a Cabinet Office grant bjt also through revenue generation for bespoke training and related events. Our current Ofs grant is due to end in July 2026. We continue to engage wth the Ofs and their sponsor department the Department for Educaljon, both of vthom are supportive of longer term mu1-year funding for TASO. Our work was recommended by the Department in its Whrte Paper, while the HEEL and our wder resources are central lo the Office for Student's strategy and delivery, and we are confident of securing further lunding beyon(J July 2026 based on the conversations we've had with officials. STRUCTURE, GOVERNANCE ANO MANAGEMENT Govornlng documont The Charity is constituted as a company limited by guarantee and is govemed by a Memorandum and Articles of Association. Board of Trusteeg The Board ol Trustees fomially delem)ine$. in compliance Chartty Commission rules. matters su¢h as disposal or acquisition ol propety. and approves Ihe key operating poli¢ies of the charity. The Board is also responsible lor the overall risk policy and for assessing the adequacy of the risk mib'galion plans. Trustees give their time voluntarily and receive no personal benefit from TASO. The Board approves the strategic and operational plans for TASO, including the annual budget, and monitors progress for each of Ihese throughoul the year by receiving reports from the Chief Executive summarising perfomiance. Committees In addition to the Board meetings, TASO has established tsvo yub-committees.. a finance and risk sutrtrcommittee lo provide additional scrutiny and oversight and a research and evaluation SUPCOmmittee lo support our searCh priorth'sation an¢J to scwb.nise that area of the organisats'on. In addition to ihese committees, TASO has a number of advisory groups, including one for each Iherne working group, an Academic Advisory Group and an Evaluatson Advisory Group, lo advise on our research priorities. Page 7
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report Oryanlzatlonal Stru¢turo The day-lo-day running of the organi5ation is delegated to staff under the leadership of the Chief Executive Officer. The Chief Executive Officer, wth the support of the Deputy Chief Executive Officer and Chief Operating Officer. develops TASO'S operats.ng plans and budgets, both of which are approved and then monitored by the Trustees. Our current Strategic plan lakes us lo 2026. and we are developing a longer-term strategy in line with our relunding plans. The Chief Executive Officer reports on organisatsonal perfomiance against strategic objectives al each Board meeting. Thi5 enables Iruslees to monitor and evaluate performance regularfy. Manag8ment of Risk The risk management strategy comprise$'. . A quarterly and annual review of the major risks lo which TASO is exposed The eslablishmenl of systerns and procedures lo mibgale those nsks The implemenlaty'on of procedures designed to minimise any polentsal impact on TASO should any of those risks materialise While overall accountability rests wth the TnJ$tees, our aim is lo create a culture of effective risk management and mitigation throughoLrt the organisation through regulaf reviews, training and implemenlalion of key poliues. The nsk management process covers both short and long-lem risks and in particular concems TASO'S financial sustainabilty and a'lIty to achVe ils charitsble aims. The Trustees Confimi that they are satisfied that strategies, systems and ¢ontrols are, as lar as possible, in place to mrtl9ate significant risks. induding those presented by the coronavirus pandemic. TrustOosIDlroctors IndomnSty Insuranc TASO provides insurance to its trustees against liabilty in respect of action brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third paty indemnity nsurance remains in force as of the date of approving the Iruslees. annual report. Page 8
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report Truste8s and officers The trustees and officers serving during the year and since the year end were as follows.. Trustees.. Prof E A Simmons Mrs Maddalaine Caroline Ansell (resigned 18 March 20251 Mr David John W(x)Iley Mrs Jane Mcneil Ms Heather Kay Hodge (resigned 31 December 20241 Ms Susannah Summers Hume Mr Ryan Paul Shorthouse M$ Chadotte Croffie {re$igned 18 March 20251 Ms Rebecca Hanalore Hollington M$ Chri$tal Delaurianne Kihm (resigned 19 August 20241 Ms Grace Elvzabeth Pollard Simpson Mr Joshua William Smith Mr Hamir Patel Ms Temidire Olufvnmilola Idah Sogbetun (appointed 19 June 20251 Mrs Jacqueline Njoroge (appointed 31 January 20251 Chair Prof E A &mmons Page 9
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Trustees. Report Ststsmant of trusto•s' rnsponsibiliti8$ The Iruslees (who are also the directors of The Centre for Transfoming Access and Student Outcomes in Higher Education for the purposes of company lawl are responsible for preparing the trustees, report and the finanaal statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law require5 the trustees lo prepare financAal slalemenls for each financial year. Under company law the trustees must not approve the financial stslements unless they are satisfied that they give a true and fair view of the stsle of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial slalemenls. the trustees are required lo.. select suitable accounting policies and appty them consistentty., ¢b5erve the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable occounbng standards, compnsing FRS 102 have been followed, subjè lo any material departures disclosed and explained in the financial stalemenls." and prepare the financial slalemenls on the going concem basis unless it is inappropriate to presume that the charitable company wll continue in business. The Iruslees are responsible for keeping proper accountsng records that ¢Jisclose wth reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply wth 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 delecb'on of fraud and othef irgu18r[ts'e5. The Iruslees are responsible for the maintenance and integrity of the corporate and financial infomialion Included on the charitable company's websile. Legislab'on goveming the preparats'on and dissemination of financial statements may differ from legisbats'on in other jurisdicknons. Di$¢lo$ur• ol information to auditor Each Iruslee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audrt information and to estsblish that the charity's auditor is aware of that infomialion. The trustees confirm that the is no levant infomation that they know of and of which they know the auditor is Lbnaware. The annual report was approved by the twstees of the tharity ¢)n 10 Febwary 2026 and signed on its behalf by.. A S£*itW175 Prof E A Simmons Chair and trustee Page 10
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Independent Auditorfs Report to the Members of The Centre for Transfomiing Access and Student Outcomes in Higher Education Opinion We have audited the financial statements of The Centre for Transforming Access and Student Outcomes in Higher Education Ilhe 'charity'l for the year ended 31 March 2025, which comprise the Slalemenl of Financial Activities, Slalemenl of Financial Position. Statement of Cash Flows. and Notes lo the Financial Slatemenls. inclvding a summary of significant a¢¢ounbng policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reportin9 Standard applicable in the UK and Republic of Ireland, arKI applicable law (Unrted Kingdom Generally Accepted Accounting Pra¢ti¢el. In our opinion the financial stslements" give 3 true and fair view of the stsle of the chanty's affairs as al 31 Mar¢h 2025 and of ils incoming resources and application of $0[Ce$. including ils income and expenditu, for the year then ended., have been property prepared in accordance wth United Kingdom Generalty Accepted Accounting Practice., and have been prepared in accordance the requirements of the Companie5 Act 2006. Ba$1¥ for oplnlon We conducted our audit in accordance wth Intemational Standards on Auditing (UK} IISAS IUKII and applicable law. Our responsibilities under those stsndafds are further descnbed in the auditor responsibilities for the audit of Ihe financial slalemenls section of our report. We are independent of the charity in accordance the ethical requirements that are relevant to our audit of the financial Statements in the UK, including the FRC'S Ethical Standard, and we have fijlfilled our other ethical responsibilities in accordance bilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclulons rolating to goSng ¢onc•m In auditing the financial slalemenls. we have concluded that the trustees use of the going concern basi$ 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 colleckn'vety, may cast signfficant doubt on the charity'5 abilty to continue as a going concern for a period of at least •1Ve months from en the original financial slalemenls were authorised for issue. Our responsibilities and the responsibilrties of the trustees Yh SpeCt to going concem are eritsed in the relevant sections of this port. othor information The trustees are responsible for Ihe other infomialion. The other information comprises the information included in the annual report. other than the financial statements and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent othenNise explicitly ststed in our pOr( we do not express any fom of assurance conclusion thereon. Page 11
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Independent Auditorfs Report to the Members of The Centre for Transfomiing Access and Student Outcomes in Higher Education In connection wth our audit of the financial statements. our responsibility is to read the other infomiation and, in doing so, consider whether the other infom)ation is materially inconsistent wth the financial ststements or our kno¥edge obtained in the audit or otherwse appears to be materially misslaled. If we identify such material inconsistencies or apparent matenal misstatements, we are required to delemine vh)elher there is a malenal misslatemenl in the financial stslements or a material misstatement of the other information. If. based on the work we have perfomied, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Oplnlon on other mattèr Prns¢T1d by th• Companiès Act 2006 In our opinion, based on the work undertaken In the course of the audit.. the inforniation given in the Tnjstees. Report for the financial year for lch the financial slalements are prepared is consistent vthh the financial slatemenls." and the Trustees, Report has been prepared In attordance vthh apFlble legal requirements. Matter¥ on whl¢h wg •re requlred to report by oxcopllon In the light of our kno¥edge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstalements in the Trustees, Report. We have nothing lo report in respect ol the folh)w'ng matters Whe the Companies Act 2006 requires Us lo report to you if, in our opinion.. adequate accounting records have not been kept, or relums adequate for our audrt have not been received from branches not visited by us". or the financial slalemenls are not in agreement Imth the accovnling records and relurn8,' or certain disclosures of trustees remuneration specifie¢J by law are not made., or we have not receive<1 all the infomalion and explanations we require for our audtt. Responsibilitios of trustOOS As explained more fulty in the Stslement of twstees, sponSIbl11e$ (set out on page 101. the Iruslee$ are responsible for the preparation of Ihe financial stslemenls and for being satisfied that they give a true and fair view, and for such internal control as the trustees detemiine 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 slatemenls, the Iruslees are responsible for asse55ing the charity'5 ability to continue as a going concem. disclosing. as applicable. matters lated lo going concern and using the going con¢em basis of accounting unless the trustees either intend to liquidate the charity or lo cease operations, or have no realistic altemative but to do so. Page 12
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Independent Auditorfs Report to the Members of The Centre for Transfomiing Access and Student Outcomes in Higher Education Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, vthether due to fraud or error, and lo issue an auditor's report that include5 our opinion. Reasonable assurance Is a high level of assurance. bul is not a guarantee that an audit conducted in aCrdance wth ISAS IUKI will aayS detect a material misslalemenl when it exists. Misstatements can arise from fraud or error and are considered material if, individLJally or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularrtses, induding fraud is detailed below". Irregularities, including fraud, are instsnces of non-compliance laws and regulations. We design procedures in line with our responsibilits"es, outlined above, to delecl material misslalemenls in respect of irTegularilies, including fraud. The key laws and regulation5 we have nsidered in this context Included the Companies Act 2006. pension and lax legislation. In addition. we have considered provisions of other laws and regulations Ihat do not have a direct effect on the financial statements bul compliance wth which may be fundamental to the ¢ompany'$ ability to operate or to avoid a material penalty. The extent lo our procedures are capable of detecting irregularities, including fraud is detailed below.. Using our general commercial and sector experience and through discussions wlh Ihe directors and management, we identffied areas of laws and regulali¢)ns that wuld reasonably be expeded lo have a material effect on the financial siatemenls as well as those arising from management's own assessment of the risks that irregularities may occur erther as a result of fraud or error. We examined the company and regulatory and legal correspondence and discussed wth the diredors and management any known or suspected in$lance$ of fraud or non-compliance wrth law8 and regulations. We communicated identified laws and regulations and potential fravd risks lo all engagement team members and remained alert lo any indications of fraud or non-compliance wth laws and regulations throughout the audit. In addressing the risk of management override of controls. tested the appropriatenes5 of journal entries. We also Challenged assumptions and judgements made by management in their significant account'ng eslimales and judgemenls. There are inherent limrtations in the audrt procedures described above and the further removed non-compliance with law5 and regulations 15 from the events and transactions reflected in the financial 51alemenls, the les5 likely we would become awaTe of it. Also, the risk of not detecting a material misslatemenl due lo fraud is higher Ihan the risk of not detecting one from error. as fraud may invofve deliberate concealment by, for example, forgery or inlentional misrepresentation, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. www.frc.org.ukJaudftorsresponsibilities. This description fomis part of our auditor's report. Page 13
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Independent Auditorfs Report to the Members of The Centre for Transfomiing Access and Student Outcomes in Higher Education Use of our report This report is made solety to the charitable company's trustees. as a body, in accordance wth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the charty's trustees those matters we are required lo stale lo them in an auditor's report and ftsr no other purptsse. To the lullest extent permitteLI by law. we do not accept or assume responsibility to anyone other than the Charitable company and its Iruslees as a body, foi our audit work, for this report, or for the opinions we have fomied. Mr Sheetsl Shah FCCA (Senior Stslulory Auditor) For and on behalf of Innovi Advisors Ltd. Chartered Certs'fied Accountants and Statutory Audrtors 163 Heme Hill London SE24 9LR 10 February 2026 Page 14
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Statement of Financial Activities for the Year Ended 31 March 2025 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrnstrict8d funds Restrictsd funds Total 2025 Income and EndoNnents from: Charitable activities Other trading activities Investment income 1.500.000 41,205 5,210 222,800 1,722,800 41,205 5,210 Total income 1,546.415 222,800 1,769,215 Exponditura on: Raising funds Charitable activities 1383.3951 1.083.681 1383,3951 1.275,985 192,304 Total expenditure Nel income 1,467,076 192,304 1.659,380 79,339 30.496 109,835 Nel movement in funds 79,339 30.496 109,835 Ro¢on¢lll8tlon of funds Total funds brought foNard 448.840 448,840 Total funds Carried foTrYard 17 528,179 30.496 558,675 The notes on pages 19 to 32 fonn an integral part of these financial statements. Page 15
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Statement of Financial Activities for the Year Ended 31 March 2025 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrictsd funds Total 2024 Note Income and EndoNnents from: Charitable activities Other trading activities Investment income Other income 1.702,806 128,400 5.529 121,699 1,702,806 128,400 5.529 121,699 Total income 1,958,434 1,958,434 Expgnditur• on: Raising funds Charitable activities 1308,5311 1.875,738 1308,5311 1.875,738 Total expenditure 2.184,269 2.184,269 Nel expenditure Net movement in funds 225,835 225,835 1225,835 1225,8351 Re¢on¢illation of fund$ Total funds brought forward Total lunds carried loThYard 674.675 674.675 17 448,840 448,840 The notes on pages 19 to 32 fonn an integral part of these financial statements. Page 16
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education {Registration number: 12482580) Statement of Financial Position as at 31 March 2025 2025 2024 Nots Fixed assets Tangible assets 13 4,384 8,570 Current assots Debtors Cash al bank and in hand 14 15 182,697 603.355 158,534 512.971 786,052 671,505 Crnditor5.' Amounts falling due V•ithin on• year Net current assgts 16 231,761 231,235 554,291 440,270 Net a$$ots 558.675 448.840 Fund$ of th• charlty: Restrlctèd Incomè funds Restricted funds 30.496 Unr•strfctsd Incom• fundi Unre$trided funds 528,179 448,840 Total funds 17 558,675 448,840 The financial ststement$ on pages 15 10 32 were approved by Ihe trustees, and authorised for i8$ue on 10 February 2026 and signed on their behalf by.. Prof E A Simmons Chair and trustee The notes on pages 19 to 32 fonn an integral part of these financial statements. Page 17
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Cash flows from op•rallng a¢tlvltl Net cash incomellexpenditurel 109,835 1225,8351 Adjustments to cash flows from nonwcash items Depreciation Investment income 5,389 5,210 5,757 5,529 110,014 1225,6071 Working capltsl adJu$tm•nts Increase in debtors IDe¢reasellin¢rease in ueditors Increaselldecreasel in deferred income 14 16 124,1631 150,2421 50,768 1145,1921 54,144 112,344 Net cash flows from operating activrties Cash flowy from Investing *ctlvltlo¥ Interest receivable and Similar income Purchase ol tangible fixed a$sel$ Nel cash flows from investing activities Nel increaselldecreasel in cash and cash equivalents Cash and cash equivalents al 1 April Cash and cash equivalents at 31 March 86,377 428,999 5,210 1.203 5,529 5.326 13 4.007 203 90.384 1428,7961 941,767 512.971 603,355 512,971 Reconclllalon of net ¢a$h flow to movement In net fvnds Increaselldecreasel In cash 90.384 1428,7961 941,767 Net funds at 1 April 2024 512,971 Net funds at 31 March 2025 603,355 512,971 l of the cash flow5 are derived from continuing operations during the above 0 periods. The notes on pages 19 to 32 fonn an integral part of these financial statements. Page 18
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charity status The charity is limited by guarantee. incorporated in . and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidabon. The address of its registered office is.. 58 Victoria Embankment Temple London EC4Y ODS 2 Accountlng poll¢l•s Summary of Slgnlficant accountlng pollcl•$ and koy accountlng •$tlmats$ The principal 3cc¢unling policies applied In the PparatIOn of these financial stslemenls are sel out below. These policies have been consislenuy applied lo all the years presented, unless othenhAse slated. Statsmènt of ¢ompllan¢• The financial statements have been prepared in accordance Accounting and Reporting by Charities.. Statement ol Recommended Practice lapplicable lo charities prepanng their accounts in accordance with the Financial Reporting Slandafd applicable in the UK and Republic of Ireland IFRS 10211 lissued in October 20191- (Charities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basis of prèparation The Centre for Translormin9 Access and Student Outeomes in Higher Eduealion meets the definition ol a public benefit enlty under FRS 102. Assets and liabilthes are inits.ally recognised al historical cost or transaction value unless olherwse stsled in the levant accounting policy notes. Currency The financial statements are prepared in sterfing is also the functional currency of the company and rounded to the nearest pound. Golng concern The Iruslees consider that the are no material uncertainties about the chartty's abiltty lo continue as a going ¢oncern nor any significant areas of uncertainty that affect the Carrying value of a$$ets held by the charty. Income and end0ments All Income is recognised in the statement of Financial Ath"vilie5 once the chanty ha5 entrtlement lo the income, it is probable that the income wll be received and the amount of the income receivable can be measured reliably. Page 19
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 Donations andlegacies Donations are recognised vthen the charrty has been nolffied in writing of both the amount and settlement dale. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entiUed to the funds, the income is deferred and not recognised until either those conditions are fvlly met, or the fulfilment of those conditions is wholly ilhin the control of the charity and rt is probable that these condth.ons wll be luifilled in the reporting period. Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Suth income 1$ only deferred when.. The donor specifies that the grant or donation musl only be used In future accounting periods, or The donor has imposed Cond'0n$ which mijst be met before the charity has unconditional enlillemenl. Investment Income Dividends are re¢ognised once the divthnd has been dedared and noty'fitIon has been received of the dividend due. Exp•ndlturo All expenditure is recognised once there is a legal or constructive obligation lo that expenditure, il 18 probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent wth the Use of resources, wth central staff costs allocated on the basis of b'me spent, and depreciats'on charges allocated on the portft of the asset's use. Other support costs are allocated based on the spread of staff costs. Ralsing funds These are costs inrred in attrading volunlary income, the management of investments and those incurred in trading activities that raise fvnds. Charltable a¢tl¥lties Charitable expenditure compnses those costs incurred by the ¢hanty in the delivery of ils activities and services for ils beneficiaries. It indudes both costs that can be all(ated directly to such activits.es and those ¢osls of an indirect nature necessary to support them. Support costs Support costs include central fvnctions and have been allocated to actiwty cost categories on a basis consi51enl with the use of resources. for example, allocating property costs by floor areas, or per capila, staff $ts by the lime spent and other costs by their usage. Page 20
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 Govèrnancè costs These include the costs attn"butsble lo the Charity's ¢omplian¢e wth constitutional and stslulory requirements, including audit. strategic managemenl and trustees meetings and imbursed expenses. Taxatlon The charity is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore It meets the definibon of a charitsble company for UK Corporation tsx purp05e5. Accordingly, the charity is polentsally exempl from tsxab.on in respect of income or capitsl gains re¢eived within categorie$ covered by Chapter 3 Part 11 of the Corporation Tax Ad 2010 or Section 256 of the Taxation of Char9eable Gains A¢i 1992, to the extent that such in¢ome or gains are applied exclusively to charitable purposes. Tanglbl• flxod 4$8•ts Individual fixed assets cosb'ng £0.00 or more are inrtialty recorded at co81, less any subsequent accumulated depreciation and subsequent accumulaled impaim)ent losses. Trade dobtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaclion price. They are subsequentty measured al amorb'sed cost using the effective interest method. less provision for impaimenl. A provision for the impairmenl of trade debtors is established when there is objects've evidence that the charity will not be able lo collect all amounts due according to the onginal terms of the receivables. Cash and Cash equivalents Cash and cash equivalents comprise Cash on hand and Call deposits. and other short-tem highly liquid investments that are readily convertible lo a known amount of cash and are subject lo an insignificant risk of Change in value. Tradè crèditor8 Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified a5 current liabilitie5 if the charity does not have an unconditional right. at the end of the Teporting period, lo defer settlement of the creditor for at least 1Ve months after the reports'ng date. If there is an unconditional right to defer settlement for at least ts¥elve months after the reporting date, they are presented as non-current Trade creditors are recognised inrtially at the transadion price and Subsequentty MeaSud at amorb'sed cost using the effective Inte$t method. Page 21
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 Borrowings Interesl-bearing borrowngs are In.81 Corded at fair value. net of transaction costs. Interest-bearing borrovAngs are subsequently carried at amortised cost. the difference between the proceeds, net ol transaction costs, and the amount due on redemption being recognised a$ a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effecb.ve interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least fvve months after the reporb'ng date. Forglgn exchange Transactions in foreign currencies are recorded al the rale of exchange al the date of the Iransaclion. Monetary a$sels and liabilities denominated in foreign currenues al the balance sheet dale are reported at the rates of exchange prevailing at that date. The re8uhs of overseas operations are translated at the average fates of exchange during the period and their balance sheets at the rates ruling al the balance sheet dale. Exchange differences arising on translation of the opening net assets and resulis of overseas operation$ are reported in other comprehensive income and accumulated in equity lattributed to non-controlling interests as appropriatel. Other exchange diffenCeS are recognise(l in the Stslement of Financial Acliwbes in the period in which they arise except for.. 11 exchange dIfferenS on Iransacttons entered into to hedge certain foreign currency risks (see abovel., 21 exchange tJifferen¢e$ arising on gains or I¢yJ8es on non-monetary items which are recognised in other cornprehensive income,. and 31 in the ease of the ¢on$olidaled financial slalements, exchange differenees on monetary items receivable from or payable lo a foreign operation for which settlement is neither planned nor likely to occur Itherefore forming part of the net investment in the foreign operationl, vthich are recognised in other comprehensive income and reported under equity. Fund structure Unreslricled income funds are general funds that are available for use al the Iruslees discretion in furtherance of the objectives of the charty. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of whi¢h is restricted lo that area or purpose. Page 22
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 Flnanclal In$twmonts Classrfication Financial assets and financial liabilities are CognIse<l vthen the charity becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the conlraclual arrangements entered into. An equity instrument is any contract that evidences a residual Interest in the assets of the charity after deducting all of its liats'lrties. Recognition and measurement I financial assets and liabilibes are initially MeaSud al Iransa¢ts'on pri¢e (including Iransa¢iion costs), except for those financial assets dassified as at fair value through profit or loss, which are initially measured al fair value l%thich is normally the transaction price excluding transaction Coslsl, unless the arrangement constrtutes a financing transaction. 11 an arrangement constitute5 a financing transaction, the finanoal asset or financial liability is measured al the present value of the future payments discounted al a markel rale of interest for a similar debt inslrumenl. Financial assets and liabiliti'es are only offset in the statement ol financial p051tion when, and only when there exists a legally enlorceable right lo sel off the recognised amounts and the charty intends either to settle on a nel basis. or lo realise the asset and settle the liabilrty simuttaneously. Financial assets are derecognised when and only when al the contractual rights to the cash flows from the financial asset expire or are settled. bl the charity transfers to another party substantially all of the risks and rewards ol ownership ol the finaneial asset, or cl the ¢harty. despite having retained some. bul not all, significant risks and rewafds of ownership. has transferred control of the asset to another paty. Financial liabilities are derecognised only en the obligation specified in the contract is discharged, cancelled or expires. Page 23
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 Debt instruments Debt 1115trumenls which meet the following condrtions are 5ubsequenUy measured at amortised ¢05t using the effective interest method". lal The contractual return to the holder is {1} a fixed amount., lill a positive fixed rate or a posib've variable rate., of liiil a combination of a posrtive or a ratsVe fixed rale and a p0511ive variable rate. Ibl The contract may provide for repayments of the principal or the return lo the holder Ibul not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. Icl The contract may provide for a delem)inable variation of the retum lo the hokler during the life of the inslrumenl. provided that lil the new rate satisfies condibon lal and the variation is not conlingenl on future events other than 111 a ¢hange of a ¢onlractual variable rale,. 12119 prole¢l the holder against credit deterioration of the issuer,. 13) changes in levies applied by a central bank or arising from changes in relevant taxatson or law., or lill the new Tate 1$ a market rate of interest and sabsfies condition lal. Idl There is no contractual provision that coukl, by its lemi$, result in the holder k)$ing the principal arnount or any interest attributable to the rrent period or prior periods. lel Conlraclual provisions that pemiil the Issuer to prepay a debt Instrument or permit the holder to pul il back lo the issuer before malurty are nol conb"ngent on lulure events, other than ID protect tha holder against the credit deterioration of the i$$uer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a cEntral bank or arising from changes in relevant taxation or law. (fl Conlra¢tual provisions may pemiit the eKten$ion of the terni of the debt instrument, provided that the retum to the holder and any other contradual provi$ion$ applicable during the extended term sats'sty the conditions of paragraphs lal to Icl. Debt instruments that are classified as payable or receivable wlhin one year on initial recognition and whi¢h meet the above ¢ondilions are measured at the undi$counled amounl of the cash or other consideration expected to be paid or received, net of impairnient. With the exceptson of some hedging instruments, other debt instruments not meeting these condits'ons a measured at fair value through profit or loss. Commitments to make and receive loans %thich meet the condih'ons mentioned above are measured at cost Iwhich may be nil) less impaimient. Page 24
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 Investments Investments in non-¢onvertible prefereno share5 and non-puttable ordinary or preference shares (Whe sha$ a publicly Irade<l or their fair value is reliably measurable) are MeaSud at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured at Cost less impaimenl. For investments in subsidiaries acquired for consideration induding the issue of shares qualrfying for merger relief. cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Derlvatlve flnan¢lal Instmments The charity uses denvative financial instruments lo reduce exposure lo foreign ex¢han9e risk and Inte$1 rale movements. The chanty does not hold or issue derivative financial instruments for speculative purposes. Derivatives are initially rewnised at fair value at the date a derivative contract 1$ entered into and are 5ub5equenlly remeasured lo their fair value at each reporting dale. The resulting gain or Ios5 15 recognised in slalemenl of financial activities immediately unless the derivats've is designated and effective as a hedging instrument. in 1¢h event the timing of the recognition in stslement of financial activities depends on the nature of the hedge relali¢)nship. Falr value measurement The best evidence of fair value is * quoted price for an identical asset in an ath've market. When quoted prices are unavailable, the pnte of a recent transaction for an identical asset providès evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of lime since the Iransacb'on look place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 3 Incom• from charftablo actlvilleB UnrnstrSct8d funds General Restricted funds Total fund$ Ofs Grant EAF Grant 1.500,000 1,500,000 222.800 222.800 Total for 2025 1.500,000 222,800 1,722,800 Total for 2024 1.824,505 1,824,505 Page 25
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from other trading activities Unrestricted funds General Total fund$ Trading income., Other trading income Events income., Other events income 4.225 4,225 36.980 36,980 Total for 2025 41.205 41.205 Total for 2024 128.400 128.400 S Investm•nt Incom• Unrnstrlcted fund$ G•n•ral Total funds Interest receivable antj Similar income; Other interest receivable 5,210 5,210 Total for 2025 5.210 5.210 Total for 2024 5.529 5.529 Page 26
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 6 Expenditure on charitable activities Unrestrict•d funds General Restricted fund$ Total fund$ Not• Staff costs Allocated support costs Governance costs 714,358 231,615 137,708 714,358 423,919 137,708 192,304 Total for 2025 1.083.6B1 192.304 1.275.985 Total for 2024 1.875,738 1,875,738 Actlvlty undertak•n dlw¢tty Actlvlty Support ¢o$ts Total exp•ndlturo Total for 2024 1.305.345 570,393 1.875,738 Page 27
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 7 Analysis of governance and support costs Charitablg activities 8xpenditurn Unrestricted lunds Rè$trl¢tèd Total Basls of allocatlon Cost Cenler Goneral fundg fund$ Commissioning Dissemination Legal and Professional Fees 231.435 180 191.500 422.935 180 804 Cost Cenler 804 Total for 2025 231,615 192,304 423,919 Total for 2024 746,860 746,860 Bas18 of allocatlon Refvr9n¢e M8thod of allo¢atlon Expenses l3n9 lo restricted fund 1$ tracked by cost cenler and bifurcated aordInglY. Cost Cenler Govornance costs Unrestricted funds General Total funds Staff costs Wages and salaries Social security costs Pension Costs Audit fees Audit of the financial slalemenls Other fees paid lo audrtors Legal lees Depreciation, amorbsation and other similar costs Other governance costs Total for 2025 32.620 2.736 1.908 32,620 2.736 1.908 3.647 5.946 57,312 5,389 28,150 3.647 5.946 57,312 5,389 28,150 137,708 137,708 Total for 2024 151,671 151,671 Page 28
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 8 Net incomingloutgoing resources Nel incominglloulgoingi SoUrceS for the year include". 2025 2024 Audit fees Depreciation of fixed assets 3,647 5.389 3,465 5.757 g Trusts•s rèmun•ratlon and •xpèn808 There were no trustees, remuneralion or other benefits for the year ended 31 March 2025 nor for the period ended 31 March 2024. Tru$tsgs' expen$e$ There were no trustees. expenses paid for the year ende(131 March 2025 nor for the period ended 31 March 2024. 10 Staff co$t$ The aggregate payroll costs were as follows= 2025 2024 Stsff costs durlng the year vMre: Wages and salarie5 Social security coyls Pension costs Other stsff costs 745,097 78.020 52.519 661,609 67,970 47,424 623 875,636 777,626 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full bme equivalents was as follows.. 2025 No 2024 No No ol employees 18 21 The number of employees whose employee beneffits (excluding employer pension costs) exceeded £60,000 was.. Page 29
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 2025 No 2024 No £60,001 £70,000 £70.001 £80,000 £80.001 £90.000 £110.001 - £120,000 11 Audltorn. remunerltlon 2025 2024 Audit of the financial slalements 3.647 3.465 12 Taxation The charity is a registered charty and is thef0 exempl from taxab'on. 13 Tanglbl• Ilx•d ass•ts Furnlturo and gquipmanl Total Cost Al 1 April 2024 Additions 18,885 1,203 18,885 1,203 Al 31 March 2025 20,088 20,088 Depreclatlon At 1 April 2024 Charge for the year Al 31 March 2025 10,315 5,389 10,315 5,389 15,704 15,704 Net book value Al 31 March 2025 4,384 4,384 Al 31 March 2024 8,570 8,570 Page 30
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 14 Debtor5 2025 2024 Trade debtors Prepayments Accrued income VAT recoverable Other debtors 7.703 8,251 147,025 19.718 85.276 26,017 47,224 17 182,697 158,534 15 Cash and cash oqulvalents 2025 2024 Cash al bank 603,355 512,971 16 Credltors.. amounts falling duo wlthln one year 2025 2024 Trade credrtors Other tsxalion and social security Other creditors Accruals Deferred income 72.861 77 14.082 93.973 50.768 166,885 7,537 S6,813 231,761 231,235 Page 31
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Notes to the Financial Statements for the Year Ended 31 March 2025 17 Funds 8alance at 1 Aprll 2024 Incoming r•$our¢es Resources •xp•nd•d Balance at 31 Mar¢h 2025 Unrestrictsd funds General 448,840 1.548,415 11,467,076) 192,304 528,179 Restricted funds 222,800 30,496 Total funds 448,840 1.769,215 1.659,380 558,675 8alance at 1 April 2023 Incoming resources R•sources expended 8alance at 31 March 2024 Unrostrfct•d funds General 674,675 1.958,434 2,184,269 448,840 18 Analysls of not a880ts lund$ Unrestrictod fund$ Ggngrnl Totsl funds at 31 March 2025 Re$trl¢led fund¥ Tangible fixed agselg Current assets Current liabilities 4,384 643,252 231.761 4,384 786,052 231,761 142,800 Total nel assets 415,875 142.800 558.675 Unrestricted funds General Total funds at 31 March 2024 Tangible fixed as$el$ Current assets Current liabilities 8,570 671,505 231,235 8,570 671,505 231,235 Total net assets 448,840 448,840 19 Relatsd party tran$a¢tlons There were no related party transactions in the year. Page 32
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Detailed Statement of Financial Activities for the Year Ended 31 March 2025 202S Unrestricted funds G•n•ral Restrletsd funds Total 2024 Total Incomg and Endo*Yn•nts from: Charitable activities lanalyse below) Other trading activities lanalysed below) Investment income lanalysed below) Other income lanalysed below) 1,51KJ,000 222.800 1,722.800 1,702,806 41,205 41,205 128,400 5.210 5,210 5.529 121,699 Total income 1,546.415 222.800 1,769,215 1,958,434 Expendituro on: Raising funds lanalysed below) Charitable activities lanalysed belowl 1383,3951 1383,3951 1308,5311 1,083.681 192,304 1,275,985 1,875,738 Total expenditure 1,467,076 192,304 1,659,380 2,184,269 Nel incomellexpendilurel 79.339 30.496 109,835 225,835 Nel movement in funds 79,339 30,496 109,835 1225,8351 R•conciliation of fund8 Total funds brought forward 448.840 448,840 674,675 Total funds ¢arried forwartj 528.179 30.496 558,675 448,840 This page does not form part of the stslulory financial stslements. Page 33
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Detailed Statement of Financial Activities for the Year Ended 31 March 2025 202S Unrestricted funds G•n•ral Restrletsd funds Total 2024 Total Charltable a¢tlvltles Ofs Grant EAF Grant 1,5110,000 1,500,000 222,800 1,702,806 222,800 1,500.000 222.800 1,722,800 1,702,806 2025 Unrestricted funds Gfrnfrral Total 2024 Total other tradlng actlvltles Event lickel sales Other income 36.980 4.225 36,980 4,225 119,480 8.920 41,205 41,205 128,400 2025 Unrostrlctsd funds G•n•rnl Totsl 2024 Totsl Investment Income Interest on cash deposrts 5.210 5,210 5,529 5.210 5,210 5.529 2025 Totsl 2024 Total Other income Income from Partnership Project 121,699 121,699 This page does not form part of the stslulory financial stslements. Page 34
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Detailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 Unrestricted funds G•n•ral Total 2024 Total Ralslng funds Wages and salaries Staff NIC IEmployers Staff pensions IOtherl- pension scheme 1 Event Cost Sector Event Staff training Staff weLfare Rent Telephone and fax Office expenses Computer SOfare and maintenance costs Publications Trade subscriptions {103,4921 {11,5991 18.9231 {64.6721 15551 {21.8401 14.0101 {77,4621 {56,9751 18831 {30,5091 11.8941 581 1103,4921 111,5991 {8,9231 164,6721 15551 121.8401 14,0101 177,4621 156,9751 18831 130,5091 (1,8941 581 1108,1121 112,3881 19,1721 149,7331 14501 18.9461 12,6111 162,2151 122,8411 12,1831 123,3561 15,4031 1,121 383.395 3B3,395 308,531 202S UnrnstrSct•d funds General Restrlcted funds Total 2024 Total Charltable actlvltles Staff pensions Iolherl- pension scheme 1 Staff NIC (Employers) Legal and professional fees Wages and salarie5 Commissioning- Restricted Commissioning Evaluation Redundancy cost Dissemination 141.6881 163,6851 141,6881 163,6851 18041 1608,9851 1191,5001 1231,4351 134,5211 149,3801 {8041 1606.9851 1486,4921 {191,5001 1231,4351 1746,8601 1400,4891 14,8001 1,525 180 180 945.973 192,304 1,138,277 1,724,067 This page does not form part of the stslulory financial stslements. Page 35
The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher Education Detailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 Unrnstrictod funds General Total 2024 Total Governance costs Staff pensions IOtherl- pension scheme 1 Wages and salaries Staff NIC {Employers) Insurance Printing, postage and stationery Travel and subsistence Hotel accommodation Staff entertaining (allowable for lax) Customer entertaining Idisallowable for lax) Accountancy lees The audit of the charity's annual accounts Professional in¢Jemnty insurance Legal and professional fees Bad debts written off Bank charges Depreciation of office equipment 11.9081 {32,6201 12.7361 17.3501 12.7091 {12,0131 (7221 (1,9081 132,6201 {2,7361 (7,3501 (2,7091 112,0131 17221 13,7311 167,0051 16,2021 16,9281 13971 18,7271 16241 16231 1621 12.7541 13,4651 15,5031 139.7011 15.9461 13,6471 {2601 {57,3121 14.9141 {1821 5,389 {5,9461 13,6471 12601 157,3121 14,9141 11821 5,389 11921 5,757 137.708 137,708 151,671 This page does not form part of the stslulory financial stslements. Page 36