## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## **REPORT AND STATUTORY ACCOUNTS** **YEAR ENDED 31 MARCH 2025** **Charity number: 1194590** ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## I N D E X ## **Year ended 31 March 2025** ||**Page**| |---|---| |General Information|2| |Report of the Trustees|3| |Independent Examiner’s report|6| |Statement of Financial Activities|7| |Balance Sheet|8| |Statement of Cash Flows|9| |Notes to the Financial Statements|10| ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** G E N E R A L I N F O R M A T I O N ## **Year ended 31 March 2025** |**Trustees**|Patrick John R Jenkins (Chairman)| |---|---| ||Finola Mary McDonnell| ||Andreas Ernst Ferdinand Utermann| ||Lucy Rosamund Kellaway| ||Rita Dhut| ||Diane Margaret Maxwell| ||Clare Eleanor Woodman (retired May 2024)| ||Claer Marie Robertson| ||Veronica Ahiagbede Kan-Dapaah| ||Hannah Leigh Sarney| ||Stephen Jones (appointed 1 July 2024)| |**Correspondence and principal address**|Bracken House| ||1 Friday Street| ||London| ||EC4M 9BT| |**Charity number**|1194590| |**Independent examiner**|David Mellor ACA CTA| ||Dixon Wilson| ||22 Chancery Lane| ||London| ||WC2A 1LS| ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## R E P O R T O F T H E T R U S T E E S ## **Year ended 31 March 2025** The Trustees present their annual report and accounts of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the financial statements and with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **Administrative information** The FT Financial Literacy and Inclusion Campaign is a charity registered with the Charity Commission, registration number 1194590. It is constituted by a trust deed dated 9 April 2021. ## **Structure, governance and management** The trustees who have served in the year are those shown on page 2. New trustees are appointed in accordance with the trust deed. Responsibilities for the appointment of any trustee, or the discharge of an outgoing trustee, vests with the trustees. Responsibility for the induction of any new trustee, which involves awareness of the approach of the charity and an understanding of a trustee’s duties, lies with the trustees. The trustees meet periodically to monitor the progress of the content production and consider the outreach of the campaign. ## **Objectives and activities** The purposes of the charity as set out in its governing document are specifically restricted to the advancement of education and the relief of poverty for the benefit of the public, particularly through the promotion of financial literacy among young people, women and disenfranchised communities. The main activities in relation to those purposes for the public benefit identified in the accounts consists of the creation of educational content which offers a multi-media introduction course to sound money management. The course introduces the basic building blocks of finance required to navigate a challenging economic climate and help young people realise their life ambitions. The charity has 6 paid staff. It also has the support of 25 volunteers and 12 part-time contractors to assist with design work, workshop delivery and content production. ## **Public benefit** The trustees, having regard to the Public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011; consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same Act. ## **Financial review** This report describes activity delivered during and beyond the financial year ended 31 March 2025. Several programmes referenced, including large-scale education partnerships and adult learning initiatives, are supported by multi-year funding from the Association of British Insurers (ABI), with income received and recognised in earlier accounting periods and delivery continuing across the grant term. As a result, programme activity in a given accounting period may be funded by income recognised in earlier accounting periods. The trustees consider the current financial position to be satisfactory. There is sufficient cash from individual philanthropy and institutional funding, which comprise the principal sources of funding, to provide support for their chosen charitable causes. The trust had net assets of £1,126,804 as of 31 March 2025 (2024 - £982,250), of which £868,308 is attributable to the unrestricted fund (2024 - £693,655) and £258,496 is attributable to the restricted fund (2024 - £288,595). This consisted of cash at bank of £1,068,859 (2024 - £984,603), receivables of £217,853 (2024 - £5,307) and payables of £167,696 (2024 - £12,219). In the year to 31 March 2025 the trust had net incoming resources of £174,653 attributable to ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** R E P O R T O F T H E T R U S T E E S ( c o n t i n u e d ) ## **Year ended 31 March 2025** the unrestricted fund (2024 - £96,479) and outgoing resources of £30,099 attributable to the restricted fund (2024 – incoming resources of £245,378). ## **Reserves policy** The trust holds £250,000 in cash reserves as of 31 March 2025 (31 March 2024 - £250,000). There are sufficient reserves to ensure the charitable incorporated organisation’s continued operations for at least 6 months of regular outgoings, estimated at £210,000 based on present financial obligations (2024 - £210,000). ## **Risk management** The principal risks faced by the charity lie in its ability to fulfil Employer’s, Public and Trustees liabilities under exceptional circumstances. The trustees have taken a policy with Aviva Insurance to mitigate the financial impact of these risks. ## Additional theoretical risk factors: Financial Times Financial Literacy and Inclusion Campaign (FT FLIC)'s key financial risks relate to the potential removal of FT support and a significant reduction in major gifts. FLIC's key governance and operational risks relate to potential trustee conflicts of interest and a potential failure to safeguard beneficiary welfare. ## **Achievements and performance** During the year ended 31 March 2025, FT FLIC continued to advance its charitable objectives by expanding access to trusted, high-quality financial education through schools, workplaces and public sector partners. ## **Schools and young people** FT FLIC’s schools programme continued to operate at national scale. During the year, the charity supported and engaged over 900 schools and educators, providing access to free, accredited financial education resources aligned to the national curriculum. These resources were designed to be used flexibly across different year groups and settings, enabling schools to integrate financial education into existing teaching without reliance on repeated external delivery. Activity during the year included ongoing refinement of curriculum content, safeguarding and quality assurance processes, and engagement with educators to support effective classroom use. This work forms part of a long-term approach to embedding financial literacy within mainstream education and improving consistency and quality of provision. ## **Adult learning and underserved communities** The charity continued to develop adult learning initiatives aimed at groups at increased risk of financial harm, with a particular focus on people facing complex financial decisions or working in high-pressure environments. This included continued development of adult learning resources supported by a multi-year programme in partnership with the Association of British Insurers, with activity during the year focused on co-design, testing and evaluation. These resources are intended to support adults navigating issues such as budgeting, debt, savings and financial resilience, with wider public release planned in subsequent periods. ## **NHS and health sector engagement** During the year, FT FLIC continued its work to support NHS staff through the development and delivery of tailored financial education content. Activity included collaboration with NHS partners to design resources relevant to the financial challenges faced by healthcare workers, including managing income volatility, pensions and long-term financial planning. ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** R E P O R T O F T H E T R U S T E E S ( c o n t i n u e d ) ## **Year ended 31 March 2025** This work forms part of the charity’s wider strategy to embed financial education within trusted public sector environments, enabling access to support for staff groups who may experience heightened financial stress. ## **Armed Forces and service communities** FT FLIC also continued to develop financial education initiatives for Armed Forces personnel and service communities. During the year, activity focused on adapting content to reflect the specific financial circumstances faced by service members, including issues related to deployment, housing, benefits and transition to civilian life. Work during the year included partner engagement and content development, with delivery and wider rollout planned as part of a phased, multi-year approach. ## **Public campaigns and national reach** FT FLIC delivered public-facing campaigns designed to improve financial understanding and confidence at scale. Through digital distribution and national platforms, campaign content reached over one million people during the year. Campaigns focused on providing clear, accessible guidance on everyday financial issues and were designed to support audiences who may not otherwise engage with formal financial education. All campaign content was developed in line with the charity’s safeguarding, quality and editorial standards. ## **Partnerships, evaluation and learning** The charity continued to strengthen partnerships with employers, public sector organisations and institutions to embed financial education within existing systems and reach audiences efficiently. This included collaboration across education, health, defence and employment settings. FT FLIC also continued to invest in learning and evaluation. During the year, the charity worked with independent research partners to support evaluation activity and ensure that insights from delivery inform future programme development and improvement. ## **International reach:** While our focus remains UK-based, FT FLIC’s impact is extending internationally. In 2025, we learned from and shared expertise with partners in Italy, Thailand, Malta, and India, supporting the localisation of our educational materials and approaches. These collaborations demonstrate how the FT FLIC model can adapt globally. ## **Future plans:** Looking ahead, our strategic aims remain clear: to expand access nationwide, prioritise underserved groups and geographies, generate measurable impact and influence policy change to make financial education and inclusion universal. Further details on programme delivery, partnerships, reach and learning is set out in the FT FLIC Impact Report. ## **Impact and Public Benefit** FT FLIC delivers public benefit by increasing financial knowledge, confidence and capability, particularly among individuals and communities at greater risk of financial harm. The charity’s activities are designed to support people in making informed financial decisions and to improve financial resilience over time. The charity’s work is intentionally structured around a progression of outcomes. In the short term, programmes aim to improve understanding of core financial concepts and build confidence in engaging with financial decisions. Over the medium term, this increased confidence is intended to support more ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** R E P O R T O F T H E T R U S T E E S ( c o n t i n u e d ) ## **Year ended 31 March 2025** informed financial behaviours. In the longer term, the charity seeks to contribute to reduced financial harm and improved financial inclusion, particularly for groups facing structural or situational disadvantage. Robust governance and oversight are central to the delivery of public benefit. Programme steering groups, grant oversight arrangements and independent evaluation partnerships support accountability, safeguarding and learning across all major initiatives. These structures ensure that delivery is evidenceinformed, risks are managed appropriately, and insights from practice are used to strengthen future programme design. The Trustees believe that this approach represents an effective and responsible use of charitable resources. By combining specialist expertise, strong governance and partner-led distribution, FT FLIC is able to maximise public benefit and deliver impact at scale while maintaining financial discipline and independence. ## **How our delivery model supports scale and value for money** FT FLIC operates a digital-first, partnership-led delivery model. Most of the activity described in this report reflects investment in content development, accreditation, safeguarding, evaluation, and partnership management undertaken by a small specialist team. Once developed, resources can be reused and distributed widely through digital channels at minimal additional cost, enabling significant reach without proportionate increases in expenditure This model is further supported by significant in-kind contributions from the Financial Times, including access to office space in the City of London at reduced cost and the use of established operational infrastructure. These arrangements enable the charity to operate efficiently while maintaining independence of governance and decision-making. As a result, staff and central costs represent direct charitable delivery rather than administrative overhead. These in-kind contributions are not fully reflected as income in the financial statements where they cannot be reliably measured, but they materially enhance the charity’s ability to deliver impact efficiently. ## **Statement of Trustees’ responsibilities** The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN RE PO R T OF TH E TR U STEES Icontinuedl Year frnded 31 March 2025 Approved by the trustees on 27 2026 and signèd on their behaW by.. P J R Jenkins Trustee FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN INDEPENDENT EXAM INER'S REPOR T Year endéd 31 March 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE Ff FINANCIAL LITERACY AND INCLUSION CAMPAIGN I report lo the Injstees on my examination of the accounts of the charitsble Incorporated organlsallon for the year ended 31 March 2025. Respon8lbllltles and basls of roport As the charity Irusle8s of Ihe charitable Incorporated organisalion you are responsible for the pr8P8rallon of the accounts in accordance with the requlremenls of the Charilles Act 2011 ('Ihe Acl'l. You are Satisfied that an audlt Is r￿1 requlred for thls year under charity18W and that an Sndependenl examinallon is needed. I report In respect of my examinalion of th¢ tharilable incorporated organisatlon's accounts carrfed out under sectlon 145 01 the 2011 Act and in car￿.ng out my examlnafjon I h8ve followed 811 the applicable tlrecuons glven by Ihe Charity Commlssion under seGlion 14515llbl of th8 Act. Dixon Wllson, a flm of Charterttd Accountants of which l am a p8rtnef has provld8d accounllng asslslanc8 servlces lo tha charSlable incorporated organ1s81Ion and I have applled th8 FRC'S Revlsed Ethical Slandard In carrying out my ex8minalion. An independent examination does not involve g81hering all the evidence that would be requlred In an aud51 and consequently does not cover all th6 m8tters than an auditor consSder5 in glvlng thelr opinlon on the accounts. The planning and conduct of an audit goes beyond the limited assurance thal an independent examination can provlde. Consequently. l express no oplnlon as lo whether the accounts present a 'lrue and fair, view and my report is Ilmlled lo those speciflc mallers s81 oul in the independent examlner's stalèmenl. Ind•pond•nt •xamlnerf8 $t•t•m•nt am quallfled lo undertake the examlnation by belng a qu8llfled member of the Institute of Chartered Accountsnts In England and Wales. I have completed my examlnallon. I conflrm th81 no malarial matters have come to my attenllon In connection wlth the examlnalion glvlng me cause to belleve that In any material r8specl'. 1. accounting records were not kept in respect of the charllable Incorporated organlsatlon as requlred by Section 130 01 the Act., or 2. the accounts do not accord with those records., or 3. the accounts do not comply wllh the appllcable requirements conceming the form and ￿ntent of acwunls sèl out in Ihe Chadtles (Accounts and Reports) Regulations 2008 other than any requirement that the a￿ountS give 8 'lrue and lair vlew, whlch is not a matter considered as part ol an Independent gxamlnall¢)n', or 4. the accounts hav8 not been prepared in accordance wllh Ihe methods and prlnciples of the Sl8lemonl of Recommended Praclico lor accounting and reporting by charities applicable lo ¢harities preparing their accounts in accordance with the Financial Reporting StaThJard applicable Sn the UK and Republlc of Ireland IFRS 1021. I have no concems and have come across matters in connaction with the examinabon lo which attention should be drawn in th55 report In order lo enable a proper understanding of the accounts lo be reached. DAVID MELLOR ACA CTA Dlxon Vvilson 22 char￿ery Lane London WC2A 1LS 26.01.2026 ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S ## **Year ended 31 March 2025** |||**Unrestricted**|**Restricted**||| |---|---|---|---|---|---| |||**income**|**income**|**Total**|**Total**| ||**Note**|**Fund**|**Fund**|**2025**|**2024**| |||**£**|**£**|**£**|**£**| |**Income and endowments from:**|||||| |_Donations and legacies:_|||||| |Donations received|4|586,708|217,333|804,041|_748,908_| |Other income||-|-|-|_4,993_| |Interest received||42,535
|-
|42,535
|_24,338_
| |**Total income and endowments**||
629,243
|
217,333
|
846,576
|
_778,239_
| |**Expenditure on:**|||||| |_Raising funds:_|||||| |Costs of generating voluntary income|5|29,840|4,395|34,235|_14,635_| |_Charitable activities:_|||||| |Governance costs|7|111,773|-|111,773|_70,284_| |Charitable expenditure|6|312,977
|243,037
|556,014
|_351,463_
| |**Total resources expended**||
454,590
|
247,432
|
702,022
|
_436,382_| |
**Net incoming resources**||
174,653
|
(30,099)
|
(144,554)
|_341,857_
| |**Net movement in funds**||
174,653
|
(30,099)
|
(144,554)
|
_341,857_
| |**Reconciliation of funds:**|||||| |Total funds brought forward at 1 April 2024||693,655
|288,595
|982,250
|_640,393_
| |**Total funds carried forward at 31 March**|**2025**|
868,308
|
258,496
|
1,126,804
|
_982,250_
| All income and expenditure derive from continuing activities. Funds held in the restricted income fund relate to donations received that are reserved for specific projects (see note 4 for a breakdown). ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## B A L A N C E S H E E T ## **At 31 March 2025** ||**Note**|**2025**|**2024**| |---|---|---|---| |||**£**|**£**| |**Fixed assets**|||| |Tangible fixed assets|8|4,797|_4,559_| |Intangible fixed assets|9|2,991
|-
| |||
7,788
|
_4,559_
| |**Current assets**|||| |Cash at bank – unrestricted income||805,968|_696,008_| |Cash at bank – restricted income||262,891
|288,595
| |||
1,068,859|
_984,603_| |Debtors|10|217,853
|_5,307_
| |||
1,286,712|
_989,910_| |**Liabilities**|||| |Creditors: amounts falling due within one year|11|(167,696)
|_(12,219)_
| |**Net current assets**||
1,119,016
|
_977,691_
| |**Net total assets**||
1,126,804
|
_982,250_
| |**The funds of the charity**|||| |Unrestricted income fund||868,308|_693,655_| |Restricted income fund||258,496
|_288,595_
| |**Total charity funds**||
1,126,804
|
_982,250_
| The financial statements set out on page 9 - 19 were approved by the Trustees on 2026 and were signed on their behalf by: P J R Jenkins Trustee **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## S T A T E M E N T O F C A S H F L O W S ## **Year ended 31 March 2025** ||**Unrestricted**|**Restricted**||| |---|---|---|---|---| ||**income**|**income**|**Total**|**Total**| ||**Fund**|**Fund**|**2025**|**2024**| ||**£**|**£**|**£**|**£**| |Net movement in funds|174,653|(30,099)|144,554|_341,857_| |Add back depreciation|3,002|-|3,002|_2,054_| |Add back amortisation|249|-|249|_-_| |Increase / (Decrease) in creditors|151,082|4,395|155,477|_(42,539)_| |Decrease / (Increase) in debtors|(212,546)
|-
|(212,546)
|_(3,307)_
| |**Net cash generated from operating activities**|
116,439
|
(25,704)
|
90,736
|
_298,065_
| |Purchase of fixed assets|
(6,480)
|
-
|
(6,480)
|
_(3,995)_
| |**Net cash generated from investment activities**|
(6,480)
|
-
|
(6,480)
|
_(3,995)_| |
**Net cash generated from all activities**|
109,960
|
(25,704)
|
84,256
|_294,070_| |Change in cash and cash equivalents|
109,960|
(25,704)|
84,256|_294,070_| |Cash and cash equivalents brought forward|696,008
|288,595
|984,603
|_690,533_| |Cash and cash equivalents carried forward|
805,968
|
262,891
|
1,068,859
|_984,603_| ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** ## **1. Accounting Policies** ## **(a) Basis of preparation and assessment of going concern** The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 SORP) effective on 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The charitable incorporated organisation constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The Trustees consider that there are no material uncertainties about the charitable incorporated organisation’s ability to continue as a going concern. ## **(b) Fund accounting policy** The charity comprises of an unrestricted income fund and a restricted income fund. Unrestricted funds are general funds that are available for use at the Trustees’ discretion in furtherance of the objectives of the charity. Restricted funds are those that are conditional on being used for a particular purpose. ## **(c) Income** There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Donations are recognised when the charitable incorporated organisation has entitlement to the income, there is reasonable assurance of receipt and the amount of income can be measured reliably. ## **(d) Tangible fixed assets** Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. ## **(e) Depreciation** Amortisation is charged so as to write off the cost of assets over their estimated useful lives, as follows: **Asset class Depreciation method and rate** Computer equipment straight line over 3 years Office furniture straight line over 7 years ## **(f) Intangible fixed assets** Intangible assets are stated at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation. ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** ## **1. Accounting Policies (continued)** ## **(g) Expenditure and liabilities** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charitable incorporated organisation to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. The charity has creditors which are measured at settlement amounts. The charity accounts for basic financial instruments on initial recognition at the amount receivable or payable adjusted for any related transaction costs. Subsequent measurement is at amortised cost. ## **(h) Debtors** Debtors are measured on initial recognition at settlement amount. Subsequently, they are measured at the cash or other consideration expected to be received. ## **(i) Donated goods, facilities and services** Donations are recognised in the period when it is probable that the economic benefits associated with the donated goods, facilities and services will flow to the charity and provided they can be measured reliably. An equivalent amount is included as expenditure under the relevant heading in the Statement of Financial Activities. Donated facilities and services provided to the charity are measured and included in the accounts on the basis of their value to the charity i.e. the amount that the charity would pay in the open market for an alternative item that would give the same benefit to the charity as the donated item. ## **(j) Taxation** The charity is exempt from tax on income and gains falling within sections 521-536 of the Income Taxes Act 2007 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. The charity is registered for Gift Aid. ## **2. Trustees’ remuneration and expenses** The Trustees all give their time and expertise freely without any form of remuneration or other benefit in cash or kind. ## **3. Employees** The charitable incorporated organisation had six employees during the year (2024 – four). One employee received emoluments over £80,000 in the year (2024 – one employee). ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** ## **4. Donations received** ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Voluntary donations|554,523|_448,940_| |Restricted donations|217,333|_267,783_| |Donated services and facilities|32,185|_32,185_
| ||804,041
|
_748,908_
| ## **Restricted donations** A donation of £217,333 (2024 - £217,333) is restricted to an adult learning project. A donation of £nil (2024 - £50,450) is restricted to the salary and costs of the social media officer. The charity has received the support of 25 volunteers who provide direct support to assist with design work, workshop delivery and content production. The services provided by volunteers are not recognised as income in accordance with the Charities SORP. ## **5. Costs of generating voluntary income** |Publicity
Amortisation
Fundraising regulation fees|**2025**
**£**
33,926
249
60
34,235
|**2024**
**£**
_14,585_
_-_
_50_

_14,635_
| |---|---|---| **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** ## **6. Charitable Activities** ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |**Project Expenditure**||| |Adult learning programmes|67,641|-| |Youth education programmes|36,800|-| |Manchester school workshop|-|_1,449_| |Birmingham school workshop|-|_132_| |City of London Academies Trust general expenditure|2,100|_37,458_
| ||106,541
|
_39,039_
| |**Support Costs associated with project expenditure (see note 7)**|**£**|**£**| |Staff remuneration|340,198|_211,734_| |Payroll taxes|13,205|_22,976_| |Pension contributions|31,739|_26,786_| |Health insurance|2,885|_1,887_| |Staff recruitment costs|947|_319_| |Subscriptions|1,100|768| |Rent|12,389|_12,573_| |Insurance|731|_605_| |Research|-|1,575| |Printing, postage & stationary|2,617|_1,553_| |Website costs|6,535|_8,101_| |Legal & professional|26,306|_22,721_| |Travel & subsistence|10,821|826
| ||449,473|
_312,424_
| |Total charitable expenditure|556,014
|_351,463_
| ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** ## N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** ## **7. Allocation of support costs and overheads** The breakdown of support costs and how these have been allocated between Governance and Charitable Activities is shown in the table below: |**Charitable**
**activities**
**Governance**
**£**
**£**
Staff remuneration
340,198
55,218
Payroll taxes
13,205
1,845
Pension contributions
31,739
5,152
Health insurance
2,885
468
Staff recruitment costs
947
154
Subscriptions
1,100
178
Rent
12,389
2,011
Insurance
731
119
Printing, postage and stationery
2,617
-
Website costs
6,535
-
Legal and professional
26,306
-
Travel and subsistence
10,821
-
Entertainment and gifts
-
9,842
Bank charges
-
564
Computer costs
-
7,915
Depreciation
-
3,002
Independent examination fees
-
1,985
Accountancy, bookkeeping and management fees
-
23,320


449,473
111,773|**Total**
**Basis of**
**£**
**allocation**
395,416
Staff time
15,050
Staff time
36,891
Staff time
3,353
Staff time
1,101
Staff time
1,278
Staff time
14,400
Staff time
850
Staff time
2,617
Usage
6,535
Usage
26,306
Usage
10,821
Usage
9,842
Usage
564
Usage
7,915
Usage
3,002
Usage
1,985
Usage
23,320
Usage

561,246| |---|---| **Allocation of support costs and overheads – prior period** |**Charitable**
**activities**
**Governance**
**£**
**£**
Staff remuneration
211,734
25,518
Payroll taxes
22,976
3,488
Pension contributions
26,786
3,945
Health insurance
1,887
274
Staff recruitment costs
319
46
Subscriptions
768
112
Rent
12,573
1,827
Insurance
605
88
Research
1,575
229
Printing, postage and stationery
1,553
-
Website costs
8,101
-
Legal & professional
22,721
-
Travel & subsistence
826
-
Entertainment and gifts
-
7,639
Bank charges
-
72
Computer costs
-
5,924
Depreciation
-
2,054
Independent examination fees
-
1,986
Accountancy, bookkeeping and management fees
-
17,082


312,424
70,284|**Total**
**Basis of**
**£**
**allocation**
237,252
Staff time
26,464
Staff time
30,731
Staff time
2,161
Staff time
365
Staff time
880
Staff time
14,400
Staff time
693
Staff time
1,804
Staff time
1,553
Usage
8,101
Usage
22,721
Usage
826
Usage
7,639
Usage
72
Usage
5,924
Usage
2,054
Usage
1,986
Usage
17,082
Usage

382,708| |---|---| ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** **----- Start of picture text -----**
8. Tangible Fixed Assets Computer Office
equipment equipment Total
£ £ £
Cost
At 1 April 2024 7,487 170 7,657
Additions 3,240 - 3,240
At 31 March 2025 10,727 170 10,897
Depreciation
At 1 April 2024 3,061 37 3,098
Charge for the year 2,978 24 3,002
At 31 March 2025 6,039 61 6,100
Carrying amount
At 31 March 2025 4,688 109 4,797
At 31 March 2024 4,426 133 4,559
9. Intangible Fixed Assets Website
development
costs Total
£ £
Cost
At 1 April 2024 9,114 9,114
Additions 3,240 3,240
At 31 March 2025 12,354 12,354
Depreciation
At 1 April 2024 9,114 9,114
Charge for the year 249 249
At 31 March 2025 9,363 9,363
Carrying amount
At 31 March 2025 2,991 2,991
At 31 March 2024 - -
10. Debtors 2025 2024
£ £
Donations receivable 217,333 5,000
Other debtors 520 307
217,853 5,307
**----- End of picture text -----**
## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** |**11.**
**Creditors**
**2025**
**£**
Other creditors
156,485
PAYE creditors
10,210
Salary creditors
973
Other accruals
28
167,696
|**2024**
**£**
-
_10,817_
_763_
_639_

_12,219_
| |---|---| ## **12. Financial assets and liabilities** The following are financial liabilities that qualify as basic financial instruments and are initially recognised at transaction value and subsequently measured at their amortised cost. |**Financial assets**
**2025**
**£**
Debtors
217,853
217,853


**Financial liabilities**
**£**
Creditors
167,696
167,696
|**2024**
**£**
_5,307_

_5,307_

**£**
_12,219_

_12,219_
| |---|---| ## **FT FINANCIAL LITERACY AND INCLUSION CAMPAIGN** N O T E S T O T H E F I N A N C I A L S T A T E M E N T S ## **Year ended 31 March 2025** ## **13. Analysis of charitable funds** |Unrestricted fund
Restricted fund
Total|**Balance**
**Balance**
**brought**
**carried**
**forward**
**Income Expenditure**
**forward**
**£**
**£**
**£**
**£**
693,655
629,243
(454,590)
868,308
288,595
217,333
(247,432)
258,496



982,250
846,576
(702,022) 1,126,804|**Balance**
**carried**
**forward**
**£**
868,308
258,496
| |---|---|---| The Restricted Fund’s assets are held as Cash at Bank. ## **Analysis of charitable funds – prior period** |Unrestricted fund
Restricted fund
Total|**Balance**
**brought**
**forward**
**Income Expenditure**
**£**
**£**
**£**
597,176
510,456
(413,977)
43,217
267,783
(22,405)


|**Balance**
**carried**
**forward**
**£**
693,655
288,595
| |---|---|---| ||


640,393
778,239
(436,382)|
982,250| ## **14. Related party disclosures** The trustees received no emoluments or reimbursement of expenses for their services to the charity in the current or previous year. There were no related party transactions to disclose in the current or previous year.