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 A￿1v￿e$
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
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The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher
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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 p￿pared 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 fO￿frOnt ol changing the narrative and inffluencing
opinion on the importance of using evidence to tackle equality gaps.
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4. An effective and value5-led organisakn.on
Sustainability and effectiveness of TASO, including
govemance, operation5 and Systems, a hig1￿perfOrming 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 reSea￿h 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.
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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 inslilLrt￿n$, and including a number of
prominent and insightful external speakers.
In June 2024 TASO published a report on the economic returns of different education pathways.
This presented important evidence on the different employment outcome5 ansing for higher level
qualifications (including Leve15 4, 5 and 61. and how these differ by free School meal slalus, gender
and ethnicity. The novel and important findings were covered in Times Higher and shared wlh the
Department for Edu¢abon and Office for Students.
. We also published tsvo reports on supporting disabled sludents. The first mapped the evidence base
on reasonable adiuslmenls, 5urvewng some 88 insb"tulions lo undeT5tand existing practice. This
showed the variation in support offered. and suggesled ￿¢0MmendatIOnS lo improve the experience
for di$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 dIsa￿ed students directty.
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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 wsualV￿I1O￿, 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 ￿9￿lar 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.
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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 oUrsoc￿ty." 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.
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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
mu￿1-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$. in compliance Chartty Commission rules. matters
su¢h as disposal or acquisition ol propety. and approves Ihe key operating poli¢ies of the charity. The
Board is also responsible lor the overall risk policy and for assessing the adequacy of the risk
mib'galion plans. Trustees give their time voluntarily and receive no personal benefit from TASO.
The Board approves the strategic and operational plans for TASO, including the annual budget, and
monitors progress for each of Ihese throughoul the year by receiving reports from the Chief Executive
summarising perfomiance.
Committees
In addition to the Board meetings, TASO has established tsvo yub-committees.. a finance and risk
sutrtrcommittee lo provide additional scrutiny and oversight and a research and evaluation
SUP￿COmmittee lo support our ￿searCh priorth'sation an¢J to scwb.nise that area of the organisats'on.
In addition to ihese committees, TASO has a number of advisory groups, including one for each
Iherne working group, an Academic Advisory Group and an Evaluatson Advisory Group, lo advise on
our research priorities.
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Oryanlzatlonal Stru¢turo
The day-lo-day running of the organi5ation is delegated to staff under the leadership of the Chief
Executive Officer.
The Chief Executive Officer, wth the support of the Deputy Chief Executive Officer and Chief
Operating Officer. develops TASO'S operats.ng plans and budgets, both of which are approved and
then monitored by the Trustees. Our current Strategic plan lakes us lo 2026. and we are developing a
longer-term strategy in line with our relunding plans.
The Chief Executive Officer reports on organisatsonal perfomiance against strategic objectives al
each Board meeting. Thi5 enables Iruslees to monitor and evaluate performance regularfy.
Manag8ment of Risk
The risk management strategy comprise$'.
. 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$tees, our aim is lo create a culture of effective risk
management and mitigation throughoLrt the organisation through regulaf reviews, training and
implemenlalion of key poliues. The nsk management process covers both short and long-lem risks
and in particular concems TASO'S financial sustainabilty and a￿'lIty to ach￿Ve ils charitsble aims.
The Trustees Confimi that they are satisfied that strategies, systems and ¢ontrols are, as lar as
possible, in place to mrtl9ate significant risks. induding those presented by the coronavirus pandemic.
TrustOosIDlroctors IndomnSty Insuranc
TASO provides insurance to its trustees against liabilty in respect of action brought by third parties,
subject to the conditions set out in the Companies Act 2006. Such qualifying third paty indemnity
nsurance remains in force as of the date of approving the Iruslees. annual report.
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Truste8s and officers
The trustees and officers serving during the year and since the year end were as follows..
Trustees..
Prof E A Simmons
Mrs Maddalaine Caroline Ansell (resigned 18 March 20251
Mr David John W(x)Iley
Mrs Jane Mcneil
Ms Heather Kay Hodge (resigned 31 December 20241
Ms Susannah Summers Hume
Mr Ryan Paul Shorthouse
M$ Chadotte Croffie {re$igned 18 March 20251
Ms Rebecca Hanalore Hollington
M$ Chri$tal Delaurianne Kihm (resigned 19 August 20241
Ms Grace Elvzabeth Pollard Simpson
Mr Joshua William Smith
Mr Hamir Patel
Ms Temidire Olufvnmilola Idah Sogbetun (appointed 19 June
20251
Mrs Jacqueline Njoroge (appointed 31 January 20251
Chair
Prof E A &mmons
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Ststsmant of trusto•s' rnsponsibiliti8$
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 ir￿gu18r[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
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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$1¥ for oplnlon
We conducted our audit in accordance wth Intemational Standards on Auditing (UK} IISAS IUKII and
applicable law. Our responsibilities under those stsndafds are further descnbed in the auditor
responsibilities for the audit of Ihe financial slalemenls section of our report. We are independent of
the charity in accordance the ethical requirements that are relevant to our audit of the financial
Statements in the UK, including the FRC'S Ethical Standard, and we have fijlfilled our other ethical
responsibilities in accordance b*ilh these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate lo provide a basis for our opinion.
Conclu*lons rolating to goSng ¢onc•m
In auditing the financial slalemenls. we have concluded that the trustees use of the going concern
basi$ 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 Y￿h ￿SpeCt to going concem are
￿e￿ritsed 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.
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The Centre for Transfomiing A¢¢ess and Student Outcomes in Higher
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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¢T1￿d 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 apFl￿ble 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, ￿sponSIbl1￿1e$ (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.
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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 aC￿rdance wth ISAS IUKI will a￿ayS 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 EndoN￿nents 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 EndoN￿nents 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 P￿paratIOn 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 end0￿ments
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'fi￿tIon 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 port￿ft of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Ralsing funds
These are costs in￿rred 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$8•ts
Individual fixed assets cosb'ng £0.00 or more are inrtialty recorded at co81, less any subsequent
accumulated depreciation and subsequent accumulaled impaim)ent losses.
Trade dobtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the
ordinary course of business.
Trade debtors are recognised initially at the transaclion price. They are subsequentty measured al
amorb'sed cost using the effective interest method. less provision for impaimenl. A provision for the
impairmenl of trade debtors is established when there is objects've evidence that the charity will not be
able lo collect all amounts due according to the onginal terms of the receivables.
Cash and Cash equivalents
Cash and cash equivalents comprise Cash on hand and Call deposits. and other short-tem highly
liquid investments that are readily convertible lo a known amount of cash and are subject lo an
insignificant risk of Change in value.
Tradè crèditor8
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Accounts payable are classified a5 current liabilitie5 if the charity
does not have an unconditional right. at the end of the Teporting period, lo defer settlement of the
creditor for at least ￿1Ve months after the reports'ng date. If there is an unconditional right to defer
settlement for at least ts¥elve months after the reporting date, they are presented as non-current
Trade creditors are recognised inrtially at the transadion price and Subsequentty MeaSu￿d at
amorb'sed cost using the effective Inte￿$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 fv￿ve 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 diffe￿nCeS are recognise(l in the Stslement of Financial Acliwbes in the period in
which they arise except for..
11 exchange dIfferen￿S 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 MeaSu￿d 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 r￿atsVe 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 MeaSu￿d 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 ￿l3￿n9 lo restricted fund 1$ tracked by cost cenler and bifurcated
a￿ordInglY.
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 the￿f0￿ 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 SOf￿are 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