Big Tent Foundation (A Company Charity limited by guarantee) Charity Number Registered Company Number 1195014 10918359 Trustees. Annual Report & Financial Statements for the year ended 30th September 2025 Charity accounts preparation & independent examination service
z RADI>; BIGTENT Big Tent Foundation Charity number 1195014 Contents Index Page Directors (Trustees) Annual Report Independent Examiner's Report statement of Financial Activities Balance Sheet Notes to the Accounts
z RADI>; BIGTENT Big Tent Foundation (Charity Number 11950141 Director's Report (incorporating the Trustees. Annual Report) For the year ended: 30th September 2025 The Trustees, who are also Directors of the charity for the purpose of the Companies Act, present their annual report and financial statements for the year ended 30th September 2025. Reference and Administration details Charlty's Full Name: Big Tent Foundation Other names the charity is known by: Radix Big Tent Status: A charitable organisation established as a Company limited by guarantee. Registered as a Company on: 16th August 2017 Registered as a Charity on: 29th June 2021 Company number: 10918359 Charity number: 1195014 Registered office: 14 Sandringham Street, York, YOIO 4BA Bank: Santander Names of the Directors (trustees) who manage the charity Trustee name Office (if any) Dates acted if not whole year Name of person entitled to appoint trustee P Goldsmith M Holland G De Sellers A D Lansley M Polan N Silver J Zamit-Lucia
z RADI>; BIGTENT Big Tent Foundation (Charity Number 11950141 Director's Report (incorporating the Trustees. Annual Report) structurei governance and management Description of the charity's trusts Governing Document Memorandum and Articles of Association How the charity is constituted A Company limited by guarantee Trustee selection methods Dirertor's are appointed by the board for a term of up to 3 years. Any director so appointed shall be eli ible for re- appointment if the directors think fit for a furt er term of up to 3 years. A director may serve a maximum of 3 such terms, save that, in exceptional circumstances, a director may be re- appointed for an additional term of up to l year. A dirertor must note vote on his or her re-appointment. The company obtained charitable status on 29th June 2021. The trustees were in agreement to transfer the assets and liabilities to the charity. The charity is constituted as a company limited by guarantee and governed by its memorandum and articles of association. Objectives and Activities The charity has power to do anything which is calculated to further its Object(s) or is conducive or incidental to doing so. Summary of the purposes of the charity set out in its governing document The charity's objects ('Objects') are for the public benefit and specifically restricted to the following: la) to advance education in a non-partisan manner in issues of public policy, in particular but not exclusively by.. stimulating out-of-the-box thinking through provocations, appropriate research, and conversations Wlth our extensive, high level network Convening experts, policy makers and influencers to create coalitions that can find pathways to change that are possible and attractive Framing proposals to make them attractive and deliverable. Providing platforms for non-partisan political discussion and debate Ibl to further such other related purposes which are exclusively charitable under the law of England and Wales as the directors shall determine The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives, and in planning future activities. Summary of the main activities undertaken for the public benefit in relation to these objects Education and community development by convening and curating public policy disclosure.
z RADI>; BIGTENT Big Tent Foundation (Charity Number 11950141 Director's Report (incorporating the Trustees. Annual Report) Achievements and Performance Summary Led three programme5 in line with our strategic objectives focus5ed on delivery of housing, reform of the investment system, and the promotion of resilient democracy. Key achievements include: Delivery of Housing Seen the implementation through the Spring Statement, the Planning and Infrastructure Bill and other instruments of nine of Radix's Housing Commission's original fifteen recommendations Provided advice to the MHCLG on the obstacles to housing development and proposals to remove them via the Commission's second report, Unblocking the Housing Ecosystem Provided commentary on housing strategy and policy throughout the media, including on the flagship Today Programme and at key industry events. Published a third report, Homes without Harm, making the health case for improving the quality and climate resiliency of UK housing stock, and making further recommendations to the Government. Reform of the Investment System Formally launched our New Capital Consensus programme at events with senior stakeholders industry figures and Pensions Minister, Torsten Bell MP. Published five major research reports, Reviving UK Investment Flows, Driving Investment for a Better Society, From Pensions to Prosperity, The Trillion Pound Question, and Effective Investment, all well received by policy makers and intluencers. Launched the NCC'S Parliamentary Investment System Council, including Treasury Committee members John Glen MP, John Grady MP, Bobby Dean MP, and SNP Chief Whip and Work and Pensions spokesperson, Kirsty Blackman MP. The ISC will act as a conduit for promoting systems thinking in Parliament. Hosted a series of workshops with senior industry figures on risk transfer and the flow of finance overseas to further advise policy makers. Grown our media presence - traditional and social - including coverage of Reviving UK Investment Flows in the Daily Telegraph, and Effective Investment in POLITICO, generating 3,300 website visits per month with and 2000 impressions per month on LinkedIn, up 5820/0 over the past month. Resilient Democracy Co-hosted a Resilient Democracy conference at St George's House, Windsor the public outcomes of which are detailed in the Resilient Democracy report. Held a follow up event at The Friends Meeting House in September 2025 to focus on the Elections Bill. Guest speakers included parliamentarians from the three major parties. We have also hosted monthly webinars with guest speakers such as Julia Hobsbawn, Sir John Kay and Prof Tony Travers. Webinars are typically chaired by Radix Chair of Fellows, Vicky Pryce. engaging over 600 participants
z RADI>; BIGTENT Big Tent Foundation (Charity Number 11950141 Director's Report (incorporating the Trustees. Annual Report) Financial Review During the year the charity received income of £385,92512024.' £236,547). These funds have been used to support the Charity's objectives The funds raised were such as to provide sufficient liquid assets to meet the charity's liabilities. We continue to be dependent on individual donations and corporate sponsorship to maintain our activities Investment in subsidiary The Trustees of the Big Tent Foundation invested in the Big Tent Ideas Festival {BTIF) subsidiary to obtain the best level of financial return within the level of risk considered to be acceptable. Big Tent Foundation is performing well, both in P&L and balance sheet terms. However its festival subsidiary The Big Tent Ideas Festival (BTIF) is becoming less active, although still profitable. We do not expect it to be mounting a large ideas festival next year, so we suggest writing it down in value now by £50,000 in the Foundation's accounts, and noting that if BTIF remains profitable but doesn't grow, we may write it down by a further £50,000 the following year. The Foundation's balance sheet is strong enough to do this, leaving it with positive net assets and capital and reserves after such a writedown.
z RADI>; BIGTENT Big Tent Foundation (Charity Number 11950141 Director's Report (incorporating the Trustees. Annual Report) Trustee Responsibilities in relation to Financial Statements Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of the income and expenditure of the company for the year. In preparing those financial statements, the directors are required to: Selert suitable accounting policies and then apply them consistently. Make judgements and estimates that are reasonable and prudent,. State whether applicable accounting standards have been followed, subjert to any material departures disclosed and explained in the financial statements,. Prepare the financial statements on the going concern basis unless it is inappropriate topresume that the company will continue on that basis. The directors are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors also responsible for safeguarding the asset5 of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, as well as exercising proper financial controls. Members of the Board of Trustees, who are Directors for the purpose of company law, and Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page l. Disclosure of information In accordance with company law, as the company's Directors, each of the Board of Trustees certify that so far as they are aware.. There is no relevant information of which the Charity's Independent Examiner is unaware- As Directors of the company, they have taken the necessary steps to be aware of the information, which would be relevant for independent examination purposes and have communicated them to the Independent Examiner. Exemptions The trustees have taken advantage of the exemption available to small companies, including the audit exemption (as detailed on the balance sheet) Declaration The trustees declare that they have approved the Trustees Annual Report and Accounts Signed on behalf of the charity's trustees Signature Full Name Position Date
Big Tent Foundation (Charity Number 11950141 Independent examiner's report to the Directors (trustees) of Big Tent Foundation I report on the accounts of: Big Tent Foundation For the year ended: 30th September 2025 Which are set out on pages 6-13 Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Art'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Direction5 given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act. or the accounts do not accord with those records the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 1310312026 Karen Wood ACMA, CGMA Outsource independent examination service 2 Gallygap Lane Osbaldwick York YOIO 3NR Date
Big Tent Foundation (Charity Number 11950141 Statement of Financial Activities for the year ended: 30th September 2025 Unrestricted Restricted funds funds 2025 Total 2024 Total Income from Note Donations and grants 67,738 67,738 129,467 Charitable artivities 42 Other income 317,093 317,093 107,000 Investments 1,094 1,094 80 Total income 385,925 385,925 236,547 Expenditure on Note Raising funds 67,795 67,795 55,667 Charitable artivities 226,765 226,765 79,673 Total expenditure 294,560 294,560 135,340 Net income/(expenditure) 91,365 91,365 101,207 Loss on revaluation of investment asset (50,000) (50,000) (50,000) Gross transfers between funds Net movement in funds 41,365 41,365 51,207 Total funds brought forward 190,732 190,732 139,525 Total funds carried forward 232,097 232,097 190,732
Big Tent Foundation (Charity Number 11950141 Balance sheet as at: 30th September 2025 Note 2025 2024 Fixed assets Investment asset 74,001 124,001 Total fixed assets Current assets Cash at bank and in hand 159,106 76,540 Debtors and prepayments 14,453 Total current assets 173,559 76,540 Current liabilities: amounts falling due within one year Creditors and accruals (15,463) (9,809) Net current assets 158,096 66.731 Total less current liabilities 232,097 190,732 Net assets 232,097 190,732 Funds of the charity Unrestricted funds 232,097 190,732 Total funds carried forward 232,097 190,732
Big Tent Foundation (Charity Number 11950141 Balance sheet as at: 30th September 2025 The trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act. The directors {trustees) acknowledge their responsibilitie5 for.. i) ensuring the company keeps accounting records which comply with Sertions 386 and 387 of the Companies Act 2006. and ii) preparing financial statements which give a true and fair view of the state of affairs of the company at the end of each financial year and of its profit and loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies 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 (Charities SORP (FRS 102)). The financial statements were approved by the trustees and signed on their behalf by: Date Position: Full Name- QrtH
Big Tent Foundation (Charity Number 11950141 Notes to the Accounts for the year ended: 30th September 2025 l. Basis of preparation 1.1 Basis of accounting The financial statements are prepared under the historical cost convention and 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 (Charities SORP (FRS 102)). 1.2 Change of basls of accountlng There has been no change to the accounting policies (valuation rules and methods of accounting) since last year. The company charity is exempt under $399 (2A) of the Companies Act 2006 from the requirements to prepare consolidated accounts with its subsidiary. 2. Accounting policies Income Recognition of incoming resources These are included in the Statement of Financial Activities (SOFA) when.. the charity becomes entitled to the resources,. ceipt of the resources is probable. and the monetary value can be measured with Sufficient reliability. Expenditure and liabilities Liability recognition Liabilities are recognised as 500n as there is a legal or constructive obligation committing the charity to pay out resources. Charitable expenditure Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs on an indirect nature necessary to support them.
Big Tent Foundation (Charity Number 11950141 Notes to the Account5 for the year ended: 30th September 2025 Assets The chairty does not have any fixed assets Fund accounting All of the charity's funds are unrestricted Unrestrirted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objettives of the charity- 3. Analysis of income 2025 2024 Unrestricted funds Total 2023 Unrestricted funds Total 2022 3.1 Donations and grants Donations and gifts 56,551 56,551 190,055 190,055 Gift aid 7,957 7,957 15,820 15,820 Membership subscriptions 3,230 3,230 4,592 4,592 67,738 67,738 129,467 129,467 3.2 Charitiable activities Leadership summit 3.3 Other income Radix Ltd Projert income 317,093 317,093 107,000 107,000 317,093 317,093 107,000 107,000 3.4 Investments Bank interest 1,094 1,094 80 80 1,094 1.094 80 80 Total income 385,925 385,925 236,547 236,547 10
Big Tent Foundation (Charity Number 11950141 Notes to the Account5 for the year ended: 30th September 2025 4. Analysis of expenditure 2025 2024 Unrestricted funds Total 2023 Unrestricted funds Total 2022 Raising funds Salaries 67,795 67,795 55,667 55,667 Fundraising costs 67,795 67,795 55,667 55,667 Charitable activities Salary & subcontrartor costs 31,609 31,609 18,556 18,556 Travel & subsistance 3,121 3,121 4,489 4,489 Consultancy 12,130 12,130 15,019 15,019 Projert expenses 142,233 142,233 24,509 24,509 Independent examiner 1,000 1,000 1,000 1,000 IT & software 3,543 3,543 2,483 2,483 Audit & accountancy fees 4,608 4,608 3,056 3,056 Rent 1,665 1,665 Website 22,518 22,518 8,440 8,440 Bank charges 106 106 186 186 General Expenses 4,232 4,232 1,935 1,935 226,765 226,765 79,673 79,673 Total expenditure 294.560 294,560 135.340 135,340 5. Trustee expenses 5.1 Trustee remuneration No Trustees, nor any persons connected with them.. were reimbursed for expenses throughout the year. recieved any benefits in kind. 11
Big Tent Foundation (Charity Number 11950141 Notes to the Account5 for the year ended: 30th September 2025 6. Paid employees 2025 2024 Gross salaries 93,012 69,000 Employers National Insurance 4,508 3,437 Pension contributions 1,883 1,785 99,403 74,222 Average number of employees {full time equivalent) One employee recieved emoluments in the band £60,000 to £69,999 per annum (2024 one in the band £80,000 to £89,999}. 7. Investment assets Carrying (fair value) at beginning of year 124,001 Less impairments (50,000) Carrying (fair value) at end of year 74,001 The investment in Big Tent Ideas Festival (BTIF) was written down by £50,000 2024 because of the disappointing results. The Big Tent Ideas Festival (BTIF) was becoming less active, although still profitable, and didn't run a large ideas festival in 2025. If BTIF remains profitable but doesn't grow, it may be written down by a further £50,000 the following year. 12
Big Tent Foundation (Charity Number 11950141 Notes to the Account5 for the year ended: 30th September 2025 8. Debtors & prepayments 2025 2024 Amount owed by subsidiary 14,453 Other debtors & prepayments 14,453 9. Creditors and accruals Analysis of creditors 2025 2024 Amounts falling due within one year Trade creditors 4,448 Amount owed to subsidiary 15,463 5,361 Other creditors & accruals 15,463 9,809 10. Related Party Transactions There were no related party transactions during the year: 13
Big Tent Foundation (Charity Number 11950141 Approval of accounts for the year ended 30th September 2025 The report and accounts were approved at a meeting of the trustees held on Date Signed for and on behalf of the trustees Signature Qtt Name Position {e.g. Chair etc) Date 14