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2025-06-30-accounts

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

Charity registration number 1195059 (England and Wales)

THRIVE AT FIVE

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

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LEGAL AND ADMINISTRATIVE INFORMATION

Trustees L Joy OBE
G Gordon OBE
M Davies MA, MSc
Dr J Grenier CBE
B Levinson OBE
E Stanton
T Scott (Appointed 24 March 2025)
Chief Executive Officer (CEO) Aida Cable
Charity number 1195059
Independent Auditors Gerald Edelman LLP
73 Cornhill
London
EC3V 3QQ
Bankers CAF Bank
Kings Hill
West Malling
Kent
ME19 4JQ
Registered office 73 Cornhill
London
EC3V 3QQ
Legal advisors Stone King LLP
Boundary House
91 Charterhouse Street
London
EC1M 6HR

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CONTENTS

Page
CEO Statement 1 - 3
Trustees report 4 - 16
Statement of Trustees responsibilities 17
Independent auditor's report 18 - 20
Statement of financial activities 21
Balance sheet 22
Statement of cash flows 23
Notes to the financial statements 24 - 34

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CEO STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

We are delighted to share with you our annual report for the year ended 30 June 2025.

Our work spans the whole of a child’s early journey, from strengthening support for families in the earliest months through to improving the quality and consistency of early years provision and the wider systems that shape children’s developmental outcomes. We operate across the breadth of the health, education, public, private and voluntary sectors to help ensure children receive consistent, high-quality support at the right time.

Everything Thrive at Five does is to ensure all children in their early years have the strong foundations they need for life and learning. We bring together and work alongside local communities, families and partners to join up and strengthen the early years system, supporting children to thrive from pregnancy to five.

Thanks to our many partners and supporters Thrive at Five now has programmes in three places: in Stoke-on-Trent; Redcar and Cleveland; and Middlesbrough. We expect to launch our first programme in Scotland in 2026. We also have to thank the many people who have volunteered their exceptional knowledge and expertise, including members of our Advisory Council, the Evaluation Advisory Group and Scotland start up group.

Our goal, everywhere we work, is to achieve, with our partners, long-term, sustained improvements in children’s developmental outcomes, with progress in England measured by the proportion of children reaching a Good Level of Development (GLD) at age five. We know how difficult this is in places where families are facing multiple forms of disadvantage. Over the past 2 years, while the percentage of children reaching a Good Level of Development nationally has increased to 69.3%, the percentage of children eligible for Free School Meals (FSM) has decreased to 51.3%.

Our partnership in Stoke-on-Trent is bucking the trend for the children eligible for FSM. Our approach is showing promising signs of progress: in the last year our seven Abbey Hulton and Bentilee primary schools recorded an 11.4 percentage point Increase in FSM-eligible children achieving a GLD (52.8% in 2024 to 64.2% in 2025) .

The robust implementation of evidenced interventions is key to having made this difference. In the past year, innovative thinking and exceptional partners in Stoke-on-Trent have enabled volunteer students and peripatetic staff to deliver the full 20 weeks of the Nuffield Early Language intervention to every child that needed support with their early language and communication.

Working closely alongside communities is making a difference to outreach and engagement with parents. Many are isolated and alone at home, with few places to go to or lacking the trust or confidence to reach out for support. Our Parent Connectors work in our communities, building trusted relationships with families where they are. In Redcar & Cleveland our Parent Connectors are in around 20 outreach locations every week. In Stoke-on-Trent, the number of parent, baby and toddler groups in Thrive at Five wards has increased fivefold, and parents and carers now report higher levels of satisfaction with information and support, particularly during key stages of early childhood.

In the past year, we have continued testing, learning and refining our work, sharing knowledge across programmes to accelerate progress and embed best practice in early years. By drawing together insight from across our programmes, we are strengthening implementation, refining delivery and developing a place-based and personcentred approach that can be scaled to deliver change in many communities.

We recognise that changing the way communities and local systems work together takes time. Building trust, strengthening collaboration and embedding new ways of working cannot be rushed. However, even following the relatively short time we have been operating in Stoke-on-Trent, we are seeing local enthusiasm to extend the work beyond Abbey Hulton and Bentilee.

Encouragingly, our Local Authority partners have expressed a desire for Thrive at Five to provide support in additional wards and to explore a longer-term strategic partnership. This presents a significant opportunity: to deepen our impact locally and to test how our place-based model can operate as a sustained system partnership rather than a time-limited programme.

“I would say it’s the closest collaboration that we’ve had in terms of partners. We’ve had partners before, but I can’t say that we’ve worked hand in hand on the ground as much” (Practitioner, Stoke on Trent)

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CEO STATEMENT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

These results are a testament to the Thrive at Five approach: deep partnership with local systems and communities, dedicated place-based backbone capacity, disciplined implementation of evidence-based interventions, and shared learning that strengthens both practice and system change. It was a special moment to have this recognized and be highlighted as an example of collaborative working at the Government’s Civil Society Summit in July 2025.

"…I have heard much about the work going on in Stoke, including the Thrive at Five programme. I would love to see or hear more about what is going on there, because I have heard wonderful things It demonstrates the value of ensuring that services are responsive to what parents want, as well as the being a clear set of expectations about minimum levels of support alongside that, really targeted to the needs of communities and parents. That was where Sure Start was at its best: Listening to communities, working with communities and building that trusts, including among families who might otherwise not feel able to access that kind of service." (Bridget Phillipson MP, Secretary of State for Education and Minister for Women and Equalities) Parliament, 7 July 2005

This year has also marked significant organisational growth. We have doubled in size, strengthening our local leadership and delivery capacity. We welcomed three new Programme Directors with extensive skills and knowledge from working in local and national Government. This strengthening of leadership capacity positions us well for the next phase of delivery, with deeper local partnerships and sustainable growth. The University of Staffordshire bestowed on our CEO the Award of Honorary Doctor of Letter in recognition of her exemplary devotion, drive and passion in developing the Thrive at Five Charity and outstanding contributions to the health and wellbeing of society.

As we approach the five-year anniversary of Thrive at Five becoming a charity, there is much to celebrate. We are proud to have built solid foundations for the journey ahead, that will allow us to support many more children to Thrive at Five.

Appreciation and thanks

Donors

Denise Coates Foundation Stoke-on-Trent City Council MariaMarina Fundation Segelman Trust Ethos Foundation Woodsmith Foundation KPMG Foundation The Dulverton Trust Auxilio Support Limited The Symondson Foundation Redcar & Cleveland Borough Council

The Police and Crime Commissioner for Cleveland The Dilkes Family Foundation Fidelity UK Foundation Julia Rausing Trust Middlesbrough Council Nuffield Foundation Posettes Foundation Quatrefoil Giving Fund The Schroder Foundation STV Children’s Appeal

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CEO STATEMENT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Advisory Council

Dr Ruth Lightbody Jean Carwood Edwards Anna Tarrant Laura Barbour Professor Jacqueline Barnes Kathryn Boulton Naomi Eisenstadt Pasco Fearon Alain GregoireJean Gross CBE Sally Hogg Alison Morton Gayle Munro Liz Weaver

Evaluation Advisory Group

Professor Jacqueline Barnes Dr Tony Munton Eleanor Ireland Chris Cuthbert Sally Hogg Professor Gabriella Conti Dr Gayle Munro Peter Richards

Scotland Startup Group

Glenn Carter Jean Carwood-Edwards Dr Leah Cronin Merle Davies Professor Aline-Wendy Dunlop MBE Jacqueline Lamb Professor John McKendrick Satwat Rehman Dr Eileen Scott of Staffordshire, VAST, Woodsmith Foundation, YMCA North Staffordshire

Grant Gordon OBE Larissa Joy OBE Elizabeth Stanton

Co-Founder and Co- Chair Co-Founder and Co-Chair Trustee

23/3/2026 Date:

24/3/2026

23/3/2026

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TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report and financial statements for the year ended 30 June 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Vision and Mission

Everything Thrive at Five does is to ensure all children in their early years have the strong foundations they need for life and learning. We bring together and work alongside local communities, families and partners to join up and strengthen the early years system, supporting children to thrive from pregnancy to five.

Objectives and activities

We work in communities facing hardship to strengthen early years systems and improve children’s developmental outcomes from pregnancy to five.

By supporting families, strengthening early years provision and improving how the wider early childhood system functions, we contribute to sustained improvements in outcomes and to narrowing gaps in disadvantage.

In its fourth year, Thrive at Five has been through planned and fast-paced growth and development. We set our sights on deepening our work in Stoke-on-Trent and Redcar & Cleveland, establishing programmes in two new local authority areas and have achieved our objectives:

With each programme focussed on approximately 2,500 children aged 5 and under, we will have the potential from 2026, to reach over 10,000 babies and children aged five and under, over 4 areas.

Our evolving national Playbook captures an approach that is agile, flexible and innovative. It provides tools and guidance for place-based implementation, allowing for adaptation to meet the challenges and opportunities of different, local contexts.

We are committed to sharing our learning as we go, and this year we have contributed to opportunities to influence national policy and practice, including through our presentation at the Department for Education, Family Hub strategy away day and our live discussion with Bridget Philipson MP at the Civil Society Summit.

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Progress and achievements

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Context

Work to improve outcomes in early childhood has been given a welcome boost by the launch, in July 2025, of the UK Government’s Best Start in Life initiative. This comes with an ambitious national target of 75% of all children reaching a Good Level of Development by age 5, by the end of the 2027/28 academic year.

While lower targets have been set for children on Free School Meals, the challenge is significant. In 2024/25 only 51.3% of children Eligible for Free Schools Meals in England reached a Good Level of Development. The difference in outcomes for children for children from more disadvantaged households is marked and has increased in the past two years. Thrive at Five is swimming against this tide by contributing to improvements in school readiness.

In England, there are approximately 1/5 children (21.8%) in low income families, with low income defined by Government as people living in households with income below 60% of the median in that year. In our wards, this number doubles, and in the case of Middlesbrough it is much higher. See table below.

Stoke-on-Trent Redcar and Cleveland Middlesbrough
Abbey Hulton – 44.6%
Bentilee – 45.1%		 Dormanstown – 42.2%
Eston – 39.4%
Grangetown – 48.1%
Kirkleatham – 29%
South Bank – 42.1%		 Central – 67.4%
Newport – 85.2%

Percentage of children in relative low income families in the wards we are working in, financial year ending 2024.

Our approach

What distinguishes Thrive at Five is not just what we do, but how we work. Our work is guided by a multi-pronged theory of change and is informed by the principles of Collective Impact. We recognise that sustained improvement depends on coordinated progress across multiple, reinforcing conditions.

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Our approach combines high quality implementation of evidence-based support for families (direct work) with sustained work to strengthen practice and improve how the wider early years system functions (enabling work). This enables both immediate positive changes for children and longer-term improvements in the way that the system works.

In practice, Thrive at Five:

To make this possible, we combine strong local leadership with national coordination. In each place, Thrive at Five works through a locally recruited backbone team in partnership with the local authority. These backbone teams bring additional capacity, coordination and expertise into the early years system. They build trusted relationships with families and partners, strengthen outreach and engagement, support collaboration across services, and help align effort around shared outcomes.

Local backbone teams are supported by Thrive at Five’s central team. The central team secures and develops partnerships, supports structured programme set up, provides specialist implementation expertise, oversees data and evaluation, and connects learning across places. This ensures that local delivery benefits from national insight, robust evidence and shared experience, while maintaining fidelity to our approach.

Together, strong local leadership and central coordination enable consistent quality while allowing thoughtful adaptation to local context. Learning from each place is systematically captured and fed back into future delivery, strengthening impact across programmes over time and supporting wider system improvement.

To capture learning and strengthen both our current and future ways of working, we are developing a practical, experience-informed Thrive at Five Playbook - a resource that can be applied in other communities to improve early childhood outcomes now and in the years ahead.

Stoke-on-Trent

Impact

Good Level of Development

There are early and very promising signs of progress towards improving children’s outcomes in Stoke-on-Trent. In the seven primary schools in our two target wards there was:

Year 1 evaluation by the Centre for Evidence and Implementation Evaluation (CEI)

Our evaluation work is generously supported by The Nuffield Foundation.

The first year report from CEI reported that "considerable progress has been made in implementing Thrive at Five within Stoke-on-Trent. The approach is very widely and warmly endorsed. There is a high level of confidence that it will catalyse new ways of working that will achieve real improvements in early years support, parenting and early years outcomes and promising early evidence of change."

"Interviews with system leaders and practitioners described Thrive at Five as playing a catalytic role in improving collaboration across services. System leaders and practitioners report better partnership working and deeper engagement with parents and communities." CEI report page 2

In June 2025, we welcomed a new Programme Director for Stoke-on-Trent, bringing extensive experience from leading a multi-award-winning early childhood initiative and over two decades of work across schools and local government in the East Midlands and South Yorkshire.

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This year, in our ward areas in Stoke-on-Trent we have:

Improving Early language and Communication: Nuffield Early Language Intervention (NELI)

We are in the third year of supporting an innovative and collaborative solution to address the capacity challenge faced by schools, with many children needing additional support with early language and communication. The codesigned solution involves volunteer students from the University of Staffordshire deliver the intervention overseen by peripatetic teaching support staff.

18 students from the University of Staffordshire trained to deliver NELI

All children in Reception who required extra support received it.

Improving early language and communication: Talking Time

Peripatetic support staff enabled the delivery of the programme to 152 children across nursery classes in six Thrive at Five schools in 2024-25 and evaluated outcomes based on the 147 children who completed the assessment.

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Improving the Home Learning Environment: PEEP Learning Together

Thrive at Five facilitated PEEP training for 24 early years practitioners from seven partner schools, early life workers from the local authority and two partner charities. Piloted in the 2024-25 school year, 20 families across 4 of the seven schools attended this evidence-based programme.

Parents repeatedly reported that the sessions helped them bond and build a stronger relationship with their child. Findings from language screening also suggest that language skills improved.

Over 90% of parents agreed that PEEP had increased their confidence and knowledge about how to help their child learn at home. There were also examples of how PEEP activities at home had facilitated better sibling relationships.

Facilitators (teachers) reported that the sessions had helped them build relationships with parents and improve everyday practice by explaining learning outcomes to parents.

“I’ve found that since coming into school my child’s wanted to sit and learn through play at home with me too.” – PEEP parent

Strengthening Parent Infant Relationships: Video Interaction Guidance (VIG)

Discussions with partners from across the early year systems helped to refine an ambition for scaled up training in Newborn Behavioural Observation (NBO) and a scale up in delivery of Video Interactive Guidance (“VIG”). Video Interaction Guidance is an evidence-based video feedback tool, designed to promote sensitive and responsive parent infant interactions. It is a strengths-based approach and involves recording brief moments of parent infant interaction and supporting the parent to reflect on the interactions and ultimately to strengthen them. Video feedback is a well-established feature of local work across the country to enhance parent infant relationships. However, our project is testing how the approach can be delivered as a broadly available offer for local families with very young children in Abbey Hulton and Bentilee.

Parental engagement

Parent connectors continue to build relationships with local families, providing information and building connections with the local early years system. Stoke-on-Trent City Council has replicated this role, employing early life workers in family hubs.

"I suffer with anxiety massively, so for me if can be really intimidating to go into a room full of mums, but here I don’t feel that and it’s really lovely here. You can just talk to them, and if you say you’re struggling as well, no one looks at you like you’re a bad parent ." Parent

Five times as many parent, baby and toddler groups are now in our two wards offering 201 places a week, some in school settings.

"I would say some of our strongest parent engagement is with children that aren’t ready for school because parents are coming in and bringing their children at the earliest opportunity." System Leader

"You can see the impact that it has on the children when they come into our nursery settings. Nine times out of 10 we can say ‘You can tell they’ve been to a playgroup." Workstream staff

The annual school readiness campaign is gaining momentum; 93% of parents felt confident about their child starting school after support from Thrive at Five. 1,500+ children received extra support to help them be ready for starting school or nursery.

Community events throughout the year increase contact with more parents. A hugely successful Summer Play and Move event supported by partners had 286 attendees, 34 adults and 44 children and a significant increase in the ethnic and gender diversity of attendees.

Thrive at Five’s Facebook page reached 2,500 followers in June/Aug 2025 mostly local families, with content to increase parents’ knowledge and skills.

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Strengthening systems and practice

The backbone team in Stoke-on-Trent is now working with over 400 local stakeholders to improve the way they work with each other, and with parents.

"Almost without exception, the systems leaders, workstream staff and practitioners we interviewed pointed to positive changes for practice and systems which they considered either wholly or partly attributable to Thrive at Five."

"Thrive has shown how different institutions can work together and create a cohesive strategy that’s got good evidence base and impact data." System Leader

Improving data collection and use

A new system for data gathering by health visitors began this year using tools to provide a more accurate and indepth picture of parent and child needs, parent wellbeing, strength of parent-infant relationships, early communication.

The second ever Parents Survey in January 2025 attracted 299 respondents (up from 187 previous year):

"I know Staffordshire and Stoke-on-Trent very well. I know the levels of deprivation. I don’t think I understood the level of isolation that some of these families experience, how excluded they are from opportunities that I would just think are accessible to everyone." ’ Systems Leader, CEI Report

Workforce development

In July 2025, 84 early years professionals attended the conference, Thriving Communication in the Early Years with keynote speaker Jean Gross CBE, on Why Early Language Matters: The Latest Evidence. Attendees of the conference said they were inspired by the content. Some have since made communication and language support a greater priority in their settings, while others are exploring ways to develop a community of practice. Some schools applied what they learned by working with parents to support their children’s communication skills.

Redcar & Cleveland

The programme has progressed this year from the Discovery phase - consulting with over 150 local parents and stakeholders, mapping community assets and gaps in support - into co-designing workstreams. The programme area includes five wards, Grangetown, Southbank, Kirkleatham, Eston and Dormanstown that encompass four family hubs and a fifth that is outside our wards (but is accessible to some families).

In January 2025 the team launched the programme at a ‘1001 Days’ conference, with 110 delegates across 40 organisations, uniting parents, practitioners and community partners to shape the local early years strategy.

Our Early Years Education Lead has built relationships with the 13 schools in our target wards – almost double the number of schools that we currently partner with in Stoke-on-Trent. This important, foundational work will help unlock the potential for the Local Authority’s School Readiness Strategy and best ways to support implementation of early years programmes, including:

Parental engagement

Parent connectors in Redar & Cleveland have taken learning from Stoke-on-Trent, enabling the team to stand up outreach work at pace. Four Parent Connectors are supporting a rota of visits to 20 venues, meeting 200 parents and 200 children each week.

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Adding value to the offer of the Family Hubs, there has been a focus on reaching the most isolated families. We want to reach deep into communities and Parent Connectors, with their relational skills and understanding of parents needs vital to achieving this ambition. They foster close working relationships with universal and specialist midwifery services and attend antenatal clinic and glucose clinics.

In addition, we are piloting an innovative scheme for limited home visits by Parent Connectors alongside health visitors. The health visiting team identify isolated families who might benefit from connection with support in the community and invite Parent Connectors to join a mandatory health check of mum and baby. An introduction by the health visitor in a safe space helps to build trust; the Parent Connectors – a friendly face from the community – explains the support that is available and arranges to meet mum at a Family Hub or parent, baby and toddler group. Initial indications are that this minimal intervention can be enough to build confidence and encourage mums leave home, sometimes for the first time.

Parent, baby and toddler groups

Supporting existing and new parent baby and toddler groups ensures parents have more accessible places to go, and partnering with local voluntary organisations allows the team to reach deep into the community.

"We initially began visiting the Women’s Refuge every other week, building relationships and trust by helping with craft and cooking sessions and giving mums the opportunity to chat about how we can help." Parent Connector.

Communications

Our expert communications teamwork supports additional connection: 630 visitors to our Facebook group for information on local events/services.

Working alongside partners enabled the delivery of a first campaign focussed perinatal mental health campaign which reached over 25,000o people across our wards, brought together multiple partners, including midwives and health visitors, and is continuing to be implemented by the family hub.

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Community events are drawing in a wider group of parents. This includes our new ‘Bumps and Babies’ sessions offering both social connection and access to support. A system-wide working group held in March 2025 included health, family hubs, voluntary and community sector organisations and parents from Grangetown to coproduce ‘baby shower’ style parental engagement events welcoming 58 families. The summer is not an easy time for our families, when having children at home increases costs and pressure. A beach visit took children and 29 adults, many for the first time creating closer, trusted relationships with Family Hub staff and the potential for increased engagement in the future.

Improving the system

Data gathering

A first annual parents survey was completed by 179 respondents and found parents report strong engagement with early years services, but digital engagement lags behind with only 15% regularly using the Family Hub app and 53% using the website. 43% of parents remain unconfident in knowing where to seek help and just 28% feel they have strong support networks. This data is invaluable insight to how we can, alongside partners, focus our support for parents going forward.

Strengthening practice

Two local Thrive at Five conferences have given practitioners access, for the first time, to lead academics and time to meet each other, reflect and learn. In January 2025 110 attendees, and in June 2025, the Happy, Healthy and Ready to Learn conference co-produced with system leaders, highlighted the latest research on language rich environments, the importance of play, best practice of school/parent engagement and systemic approaches to improving early language and communication.

Middlesbrough

A partnership agreement was signed with Middlesbrough Council in early July 2025, with the Council committing £600,000 over three years towards Thrive at Five’s work, focused initially on the ward areas of Newport and Central.

In November, we appointed a new Director of Programmes for Middlesbrough and Redcar & Cleveland, who brings extensive experience from a decade working in frontline safeguarding across local authorities in the Northeast.

Having a single director working across both Local Authorities provides efficiencies, achieves cost savings and reduces duplication, particularly as the two areas share overarching public sector functions such as public health.

The Learning and Impact team is undertaking a planned 6-month Discovery Phase to listen to parents, carers, teachers and health providers to shape the best approach for children in Middlesbrough. Discovery will map assets, local support services and gather community insights, with sharper focus around our intermediate outcomes.

"Children in our town deserve the best start in life and equal access to support and opportunities and we believe our partnership with Thrive at Five can help to deliver that." Mark Adams, Director of Public Health, South Tees

Scotland

In May 2025, we welcomed a Programme Director for Scotland, seconded from the Scottish Government, to lead the development of our first programme in the country. The role focuses on scoping and negotiating work in an area where poverty is significantly affecting children’s early years outcomes, ensuring strong alignment with Scottish policy priorities and creating the potential for future national scaling.

Our new Programme Director joined from a senior leadership position in Early Learning and Childcare within the Scottish Government. A three-year grant from the STV Children’s Appeal is supporting the development of our work in Scotland, and Scottish Government data analysts are collaborating with Thrive at Five to identify a shortlist of areas where Health Visitor data aligns with local poverty indicators.

We are aiming to secure a partnership with a first Local Authority area in our 2026/27 financial year.

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Central Team

Thrive at Five’s central team resources local backbone teams providing knowledge and capacity to support communications; local discovery; data use, monitoring and evaluation. The team rolls out training and development for the local backbone teams; leads the development of the Playbook; provides access to national and international experts and advisors; and leads on advocacy and policy influencing work. Other core functions include fundraising finances, HR and IT.

Advisory Council and Evaluation Advisory Group

An Evaluation Advisory Group has been formed, chaired by Professor Jacqueline Barnes, to provide independent review and expertise guidance.

To keep our teams informed with relevant expertise, we’ve expanded our Advisory Council. New members include Anna Tarrant, Professor of Sociology at the University of Lincoln, and Jean Carwood-Edwards, former CEO of Early Years Scotland. The 13-member Council brings deep expertise including in neuroscience, perinatal mental health, evaluation and social research

Shaping national strategy

In a year when the Government announced its commitment to ensuring children have the best start in life, Thrive at Five steeply increased its contribution to policy influencing for the early years. The Government’s Best Start in Life strategy and ambitious target for 75% of children to achieve a GLD by 2028, marked a change in national policy with the early years returning to the centre stage. We intensified our communications and stakeholder relations to focus on working at a national, strategic level to promote the importance of joined up, data-evidenced work and parent engagement to improve early years outcomes.

Collaborating for change with others in the early years

Other national stakeholder relationships continue to deepen and grow. Activities included:

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Looking ahead

Testing, Learning and refining Thrive at Five’s approach in 4 areas

Over the course of the next year we will have programmes up and running in 4 different geographical areas, including one in Scotland.

Across all our programmes we will find opportunities to support the strategic development by our Local Authorities, of their Best Start in Life plans, and use our evaluations to refine our collective work. Working in more places will enable us to review and improve the content in our Playbook. We envisage that we will evolve our strategies for parent outreach and engagement (including communications) and refine our model of practice for parent connectors. We will also evolve the training and support required by first-class local, backbone teams.

"Early Years remains a huge need, but what I’m pleased to say is – and Thrive at Five have been part of the reason for this – is that it’s much higher profile now. It’s much higher on everybody’s agenda, and it really wasn’t before Thrive." System Leader.

Strengthening the organisation

In the past year We have more than doubled capacity to enable us to work at greater scale to help more children have better outcomes for life and learning. Over the next year, working across 4 places, we expect to increase to 50 staff. The team is building a strong funding pipeline to support growth of the organisation. We have invested in fundraising capacity, including 3 FTE staff, supported by 2 consultants.

In anticipation of the demands created by a growing charitable business, we will:

In this next financial year, we will develop our scenario planning for Thrive at Five’s future. The Social Business Trust has secured external business support from Ernst & Young.

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Restricted Funds

The charity holds restricted funds as detailed in note 17. The balance at 30 June 2025 was £279,326 (30 June 2024: £714,468).

Risk management practices

In line with governance best practice, the Trustees are committed to maintaining a strong risk management framework that supports Thrive at Five to proactively manage risks.

Thrive at Five has a risk register which is reviewed annually by the members of the Finance and Risk and the Board of Trustees. The risk register is used as a tool throughout the year to manage operational and strategic delivery. Risks are scored according to the likelihood and impact of the risk occurring, with the management of each risk assigned to a senior member of staff. The changes to the risks are reviewed alongside the actions being taken to mitigate the risks.

The table below highlights the strategic risks that have been identified and explains how these risks are being mitigated within the Charity.

Prioritising The Charity accords the highest priority to managing safeguarding risk and all staff
safeguarding undertake annual training for child protection as well as Prevent training to support
people susceptible to radicalisation. The Charity has a comprehensive safeguarding
children and policy, which is reviewed annually, and which is designed in conjunction with a
safeguarding expert. Staff in contact with children must hold Level 2 safeguarding
vulnerable people qualifications and are required to attend in-person paediatric first aid training. Our
safeguarding leads are staff members (one national and one for each local programme)
who are Level 3 qualified we have a Trustee with overall responsibility for safeguarding,
and each of these individuals has professional experience in this critical area. We have
designed a clear process for staff to follow should a safeguarding concern arise.
Protecting personal
The Charity has GDPR policies which are reviewed annually by the Finance and Risk
data committee and employees have training to ensure they understand the policies. The
policy ensures that staff have access only to data required for the task in hand and
where required sensitive documents are password protected. The Charity regularly
reviews the personal data that is collected, used, processed and retained and has
processes in place to ensure that personal data is appropriately protected across the
organisation.
Ensuring adequacy The Charity is committed to our long-term objectives of delivering systemic improvement
of funds in the outcomes for children in the early years in our pathfinder sites. Each pathfinder is
planned based on a seven-year investment horizon, with the exception of Stoke-on-
Trent, our trailblazer site where we plan a ten-year investment. As such the ability to
raise long-term multi-year funding arrangements to implement our vision is key to our
success. The Charity’s growth plans are contingent on securing pledged funds and we
continually review our funding pipeline and weigh the likelihood of securing these in our
Finance and Risk committee meetings. To mitigate the risk of our income we have grant
agreements in place for all our key donors.
Gathering The Charity recognizes that the success of the Thrive at Five methodology is contingent
data to demonstrate upon the ability to demonstrate the impact we are having in the community. The Charity
has partnered with the Centre for Evidence and Implementation (CEI) to evaluate our
impact programmes. The management and roll-out of our programmes are carefully designed
and we are collaborating with credible partners who use the best practice methodology.
Local Early Years Foundation Stage Profile (EYFSP) data is gathered and analysed on
an annual basis. Our internal learning and impact team conduct pilot-year evaluation of
workstreams drawing on quantitative and qualitative data. In Stoke-on-Trent, our first
pathfinder, we are working with the public health team to strengthen their data gathering
and measurement system which will support Thrive at Five’s evaluation to inform
improvements in the local early years system.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Retaining key staff The organisation has developed succession plans for senior roles to include external and internal development of staff. We have ensured that all files are and succession saved on a central cloud-based site, which is accessed by key personnel. We ensure that the senior leadership team meet regularly and have oversight across planning the whole organisation and all key developments.

Safeguarding staff The Charity recognizes that it is important to ensure that our staff feel safe while working in the community. We have policies in place to ensure that our staff are not placed in difficult situations and that we have the necessary escalation measures in place. New staff attend training courses designed to help keep them safe.

The Trustees are satisfied that the major risks identified have been reviewed and systems or procedures have been established to manage those risks. Trustees have reviewed the financial impact of the risks occurring and have used them to help inform the reserves required as above.

Structure, governance and management

The charity was established by a constitution dated 5 July 2021 and was formed as a Charitable Incorporated Organisation.

The charity is governed under its Constitution adopted on incorporation.

Governance

The Trustees consider the Board of Trustees to be the key organ of governance for the organisation in charge of directing and controlling how the charity achieves its mission while managing risk. All trustees gave their time freely and no trustees received remuneration in the year. Ms. L Holst’s three-year term with the Charity was completed on the 30th of November 2024. Ms T Scott joined the Board in 2025. She has over 35 years’ experience in management, consulting and coaching. She worked at Schroders from 2008 and was appointed Chief of Staff at Schroders in 2016. The Trustees meet formally four times a year under joint chairs Grant Gordon OBE and Larissa Joy OBE. The Board of Trustees bring a wealth of experience and knowledge to enhance the Charity’ governance and strategic planning.

The Trustees who served during the year and up to the date of signature of the financial statements were:

L Joy OBE G Gordon OBE M Davies MA, MSc L Holst (resigned 30th November 2024) Dr J Grenier CBE B Levinson OBE E Stanton T Scott (appointed 24 March 2025)

The Board of Trustees as a body can appoint new members to act on behalf of the charity under the statutory power given to them. On our appointment, new Trustees are appraised of the constitution, financial and all other relevant matters appertaining to the charity. They are also advised as to the responsibilities placed upon them as Trustees pursuant to charity law and good practice. Where necessary appropriate training is provided both initially and on an ongoing basis.

Senior Management

The Trustees have delegated authority to the Chief Executive and the Senior Leadership Team for the day-today management of the Charity. The Leadership Team is led by the Chief Executive, Ms. Aida Cable, who has the delegated authority to deliver the strategy and business plans for the organisation, including income generation, and overseeing the work of pathfinder sites each with backbone teams.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Staff

At the end of June 2025, Thrive at Five had 29 employees including local Parent Connectors, this is a significant increase compared to seventeen employees at June 2024. During the financial year, the central team has expanded to a contingent of ten, nine staff were employed in Stoke-on-Trent and ten in Redcar & Cleveland. We secured the secondment of our programme lead in Scotland team. A consultant finance director and two fundraising consultants supported the Charity.

Subsequent to the end of the financial year we secured a full-time Finance Director and our first People Advisor (HR) who will lead the Charity in its next growth phase.

Public Benefit Statement

The Trustees confirm that in their opinion, they have complied with their duty to have due regards to the guidance on public benefit published issued by the Charity Commission, in the exercise of their powers and responsibilities as detailed in the trust deed and under charity law.

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The Board of Trustees approved the Trustee’s report.

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.............................. .............................. .............................. L Joy OBE G Gordon OBE Elizabeth Stanton Trustee Trustee Trustee 24/3/2026 23/3/2026 23/3/2026

24/3/2026 Date: .............................................

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Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2025

The Trustees are responsible for preparing the Trustees 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:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THRIVE AT FIVE

Opinion

We have audited the financial statements of Thrive at Five (the ‘charity’) for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with 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 fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis 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 collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THRIVE AT FIVE

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine 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 statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

Extent to which the audit was considered capable of detecting irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THRIVE AT FIVE

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the charity and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the trustees.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Rowan Lindsay (Senior Statutory Auditor)

For and on behalf of Gerald Edelman LLP, Statutory Auditor Chartered Accountants 73 Cornhill London EC3V 3QQ Date: ......................... 25/3/2026

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
812,850
929,299
Investments
4
40,811
-
Total income
853,661
929,299
Expenditure on:
Raising funds
5
113,476
872
Charitable activities
6
588,789
1,363,569
Total expenditure
702,265
1,364,441
Net income/(expenditure) and
movement in funds
151,396
(435,142)
Reconciliation of funds:
Fund balances at 1 July 2024
1,518,119
714,468
Fund balances at 30 June
2025
1,669,515
279,326		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
1,742,149
857,633
885,484
40,811
33,994
-
1,782,960
891,627
885,484
114,348
49,252
330
1,952,358
458,247
830,685
2,066,706
507,499
831,015
(283,746)
384,128
54,469
2,232,587
1,133,991
659,999
1,948,841
1,518,119
714,468		 Total
2024
£
1,743,117
33,994
1,777,111
49,582
1,288,932
1,338,514
438,597
1,793,990
2,232,587

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

BALANCE SHEET

AS AT 30 JUNE 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 12 19,790 11,090
Investments 13 1 1
19,791 11,091
Current assets
Debtors 14 307,109 271,229
Cash at bank and in hand 1,844,689 2,087,257
2,151,798 2,358,486
Creditors: amounts falling due within
one year 15 (222,748) (136,990)
Net current assets 1,929,050 2,221,496
Total assets less current liabilities 1,948,841 2,232,587
Income funds
Restricted funds 17 279,326 714,468
Unrestricted funds
Designated funds 18 651,395 1,518,120
General unrestricted funds 1,018,120 (1)
1,669,515 1,518,119
1,948,841 2,232,587
24/3/2026
The financial statements were approved by the Trustees on .........................
.............................. .............................. ..............................
L Joy OBE G Gordon OBE Elizabeth Stanton
Trustee Trustee Trustee

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
21
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from investing activities
Net cash generated from financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
£
(268,899)
(14,587)
107
40,811
26,331
-
(242,568)
2,087,257
1,844,689		 2024
£
£
359,978
(9,894)
-
33,994
24,100
-
384,078
1,703,179
2,087,257		 2024
£
£
359,978
(9,894)
-
33,994
24,100
-
384,078
1,703,179
2,087,257
384,078
1,703,179
2,087,257

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

Thrive at Five is a Charitable Incorporated Organisation incorporated in England and Wales. The registered office is 73 Cornhill, London, EC3V 3QQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes direct costs relating to the objectives of the charity as well as support costs in the form of administration expenses. Support costs include governance costs comprising expenditure involving the public accountability of the charity and its compliance with regulation and good practice. These costs include independent examination and legal fees and also those meeting its statutory obligations.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers

25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Grants 812,850 929,299 1,742,149 857,633 885,484 1,743,117

As outlined by SORP FRS102, donated services are to be included in the accounts at the amount that the charity would have spent on similar services, should they not have been received as donations.

4 Income from investments

Interest receivable
Raising funds
Unrestricted
Restricted
funds
funds
2025
2025
£
£
Fundraising and publicity
Fundraising database
9,407
-
Fundraising consultants
85,295
-
Events and advertising
18,774
872
113,476
872		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
40,811
33,994
Total Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
9,407
7,280
7,280
85,295
37,769
-
37,769
19,646
4,203
330
4,533
114,348
49,252
330
49,582		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
40,811
33,994
Total Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
9,407
7,280
7,280
85,295
37,769
-
37,769
19,646
4,203
330
4,533
114,348
49,252
330
49,582
Total
2024
£
7,280
37,769
4,533
49,582

5 Raising funds

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

6 Charitable activities

Charitable
Charitable
Expenditure Expenditure
2025 2024
£ £
Staff costs 1,249,299 726,814
Depreciation and impairment 5,780 2,722
Legal and professional 35,334 40,589
Evaluation costs 202,139 116,748
Staff recruitment 76,928 27,932
Staff training 11,254 7,973
Travel 30,394 19,165
Postage and stationery 91 2,551
General expenses 6,119 9,798
IT costs 25,827 10,869
Communication costs 79,778 75,262
Insurance 2,620 1,872
Premises expenses 26,405 21,809
Bank charges 66 68
Programmatic activities 114,210 126,719
Finance and admin consultancy 54,331 48,166
Discovery & Co-design - 10,800
Loss on disposal of tangible fixed asset 107 -
Other charitable expenditure 11,770 -
Grant funding of activities (Cost of living) 3,000 25,875
Share of governance costs (see note 7) 16,906 13,200
1,952,358 1,288,932
Analysis by fund
Unrestricted funds 588,789 458,247
Restricted funds 1,363,569 830,685
1,952,358 1,288,932

7 Support costs

Governance costs includes payments to the auditors of £16,906 (2024: £13,200) for audit and accounting fees.

8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 13,000 12,000
Depreciation of owned tangible fixed assets 5,780 2,722

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Expenses totaling £573 (2024: £423) were refunded to a Trustee in the period under review.

10 Employees

The average monthly number of employees during the year was:

National & Stoke team
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
26
2025
£
1,099,423
125,033
24,843
1,249,299		 2024
Number
13
2024
£
619,645
64,720
14,575
698,940

Included within staff costs per the charitable activities note is secondment costs of £11,456 (2024: £28,453) and other ad hoc staff related costs.

An additional amount of £88,182 (2024 : £35,905) was spent for the purpose of staff recruitment and staff training which is reflected within Note 6 - Charitable Activities.

The number of employees whose annual remuneration was more than £60,000 is as follows:

2025 2024
Number Number
£60,000 - £70,000 1 1
£70,000 - £80,000 2 1
£80,000 - £90,000 1 -
£90,000 - £100,000 1 1

Remuneration of key management personnel

The remuneration of key management personnel was £389,293 (2024: £385,771).

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

12 Tangible fixed assets
Computers
£
Cost
At 1 July 2024 15,003
Additions 14,587
Disposals (147)
At 30 June 2025 29,443
Depreciation and impairment
At 1 July 2024 3,913
Depreciation charged in the year 5,780
Eliminated in respect of disposals (40)
At 30 June 2025 9,653
Carrying amount
At 30 June 2025 19,790
At 30 June 2024 11,090

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

13 Fixed asset investments

Unlisted
investments
£
Cost
At 1 July 2024 & 30 June 2025 1
Carrying amount
At 30 June 2025 1

The charity owns 100% of the issued share capital of Thrive at Five Trading Limited, a company registered in England & Wales. The subsidiary is dormant and is not consolidated into these financial statements.

14 Debtors

14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
16
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
306,017
-
1,092
307,109
2025
£
36,801
77,443
4,769
103,735
222,748
2025
£
24,843		 2024
£
270,000
137
1,092
271,229
2024
£
21,384
35,819
2,774
77,013
136,990
2024
£
14,575

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

17 Restricted funds

Stoke
Redcar & Cleveland
Scotland		 Balance at
1 July 2023
£
565,070
94,929
-
659,999		 Movement in funds
Incoming
resources
Resources
expended
£
£
535,484
(685,915)
350,000
(145,100)
-
-
885,484
(831,015)		 Balance at
1 July 2024
£
414,639
299,829
-
714,468		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
30 June 2025
£
£
£
£
525,509
(771,676)
-
168,472
353,790
(542,765)
-
110,854
50,000
(104,575)
54,575
-
929,299
(1,419,016)
(54,575)
279,326		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
30 June 2025
£
£
£
£
525,509
(771,676)
-
168,472
353,790
(542,765)
-
110,854
50,000
(104,575)
54,575
-
929,299
(1,419,016)
(54,575)
279,326
279,326

Restricted funds of £279,326 (2024: £714,470) comprise of unspent funds to support the operations and activities of Thrive at Five in Abbey Hulton & Townsend and Bentilee & Ubberley, in Stoke-on-Trent to the value of £168,472 and £110,854 (2024: £414,639 and £299,829) of unspent funds to support operations. The new activity during the year at Scotland had a transfer of £54,575 (2024: nil) and income of £50,000 (2024:nil) during the year which was all spent which resulted in the balance as at 30 June 2025 to be £0.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

At 1
General funds
Previous year:
At 1
General funds		 July 2024
Incoming
resources
Resources
expended
£
£
£
1,518,119
853,661
(647,690)
July 2023
Incoming
resources
Resources
expended
£
£
£
1,133,991
891,627
(507,499)		 Transfers
At 30 June
2025
£
£
(54,575)
1,669,515
Transfers
At 30 June
2024
£
£
-
1,518,119

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 30 June 2025:
Tangible assets
19,790
-
Investments
1
-
Current assets/(liabilities)
1,649,724
279,326
1,669,515
279,326
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 30 June 2024:
Tangible assets
11,090
-
Investments
1
-
Current assets/(liabilities)
1,507,028
714,468
1,518,119
714,468		 Total
2025
£
19,790
1
1,929,050
1,948,841
Total
2024
£
11,090
1
2,221,496
2,232,587

20 Related party transactions

Donations of £150,000 (2024: £333,333) were received from the Ethos Foundation, a charity related to Mr. G Gordon.

Docusign Envelope ID: 9090C863-4765-4BF2-8BC7-E6DDA7BD8132

THRIVE AT FIVE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

21
Cash (absorbed by)/generated from operations
2025
£
(Deficit)/surplus for the year
(283,746)
Adjustments for:
Investment income recognised in statement of financial activities
(40,811)
Depreciation and impairment of tangible fixed assets
5,780
Movements in working capital:
(Increase) in debtors
(35,880)
Increase in creditors
85,758
Cash (absorbed by)/generated from operations
(268,899)
Difference
-
Per cash flow statement page
(268,899)		 2024
£
438,597
(33,994)
2,722
(71,229)
23,882
359,978
(1)
359,977

22 Analysis of changes in net funds

The charity had no material debt during the year.