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2024-08-31-accounts
Contents
| Reports |
|
| Reference and administrative details |
1 |
| Trustees’ report |
3 |
| Independent auditor’s report |
15 |
| Financial Statements |
|
| Statement of financial activities |
19 |
| Balance sheet |
20 |
| Principal accounting polices |
22 |
| Notes to the financial statements |
25 |
Axiom Maths
| Trustees |
DanielJamesAbramson(Chair) |
|
AlexanderGerko |
|
KathrynGreenhalgh |
|
JonathanHill |
|
CharlottePotter |
|
EdwardSouthall |
| SeniorLeadershipTeam |
|
| CEO |
DavidThomas |
| DeliveryDirector |
AdamGeach |
| OperationsDirector |
CatherineFenwick |
| SchoolPartnershipDirector |
NaomiBurley-Baker |
| CurriculumDirector |
SamHarvey-Brewin |
| StrategyDirector |
SyreetaAllen |
| Secretary |
CatherineFenwick |
| RegisteredOffice |
Unit2 |
|
55-61BreweryBuilding |
|
BreweryRoad |
|
N79QH |
| Telephone |
07961908676 |
| Website |
www.axiommaths.com |
| CharityRegistrationNumber |
1199281(EnglandandWales) |
| Independentauditor |
BuzzacottLLP |
|
130WoodStreet |
|
London |
|
EC2V6DL |
| Principalbankers |
LloydsBank(closedJuly2024) |
|
95GeorgeSt |
|
Croydon |
|
CR92NS |
|
TheCo-operativeBankPLC(openedApril2024) |
|
1BalloonStreet |
|
Manchester |
|
M604EP |
| Solicitors |
WombleBondDickinson |
|
TheSpark |
|
DraymansWay |
|
NewcastleHelix |
|
NewcastleUponTyne |
|
NE45DE |
| Trustee |
AppointedIResigned |
| DanielJamesAbramson |
Appointed13June2022 |
| KathrynGreenhalgh |
Appointed12October2022 |
| AlexanderGerko |
Appointed13June2022 |
| CharlotteAlicePotter |
Appointed13June2022 |
| JonathanHill |
Appointed19October2023 |
| EdwardSouthall |
Appointed11thFebruary2025 |
| SLTMembers |
Role |
| DavidThomas |
CEO(fromMay2023) |
| SyreetaAllen |
StrategyDirector(fromJanuary2023) |
| CatherineFenwick |
OperationsDirector(fromSeptember2022) |
| SamHarvey-Brewin |
CurriculumDirector(fromSeptember2022) |
| NaomiBurleyBaker |
SchoolPartnershipsDirector(fromNovember2023) |
| AdamGeach |
DeliveryDirector(fromNovember2023) |
13 February 2025
|
|
Unrestrictedfunds |
Unrestrictedfunds |
|
|
|
13June |
|
|
Yearended |
2022to |
|
|
31August |
31August |
|
|
2024 |
2023 |
|
Notes |
£'000 |
£'000 |
| Incomefrom: |
|
|
|
| Donations |
1 |
3,389 |
2,482 |
|
|
3,389 |
2,482 |
| TransferfromAbsoluteReturnfor |
|
|
|
| Kids(ArkUKProgrammes) |
12 |
|
496 |
| Totalincome |
|
3,389 |
2,978 |
| Expenditureon: |
|
|
|
| Charitableactivities |
2 |
3,669 |
1,982 |
| Totalexpenditure |
|
3,669 |
1,982 |
| Net(expenditure)/incomeandnet |
|
|
|
| movementinfunds |
4 |
(280) |
996 |
| Reconciliationoffunds: |
|
|
|
| Totalfundsbroughtforwardat |
|
|
|
| 31August2023 |
|
996 |
|
| Totalfundscarriedforwardat |
|
|
|
| 31August2024 |
|
716 |
996 |
|
|
31 |
31 |
31 |
31 |
|
|
August |
August |
August |
August |
|
|
2024 |
2024 |
2023 |
2023 |
|
Notes |
£'000 |
£'000 |
£'000 |
£'000 |
| Fixedassets |
|
|
|
|
|
| Tangibleassets |
8 |
|
23 |
|
|
| Currentassets |
|
|
|
|
|
| Debtors |
9 |
309 |
|
1,181 |
|
| Cashatbankandinhand |
|
578 |
|
425 |
|
|
|
887 |
|
1,606 |
|
| Liabilities |
|
|
|
|
|
| Creditors:amountsfallingdue |
|
|
|
|
|
| withinoneyear |
10 |
(194) |
|
(610) |
|
| Netcurrentassets |
|
|
693 |
|
996 |
| Totalnetassets |
|
|
716 |
|
996 |
| Thefundsofthecharity |
|
|
|
|
|
| Incomefunds |
|
|
|
|
|
| Unrestrictedfunds |
|
|
|
|
|
| .Tangiblefixedassetsfund |
11 |
|
23 |
|
|
| .Generalfund |
11 |
|
693 |
|
996 |
|
|
|
716 |
|
996 |
|
|
Year |
13June |
|
|
ended |
2022to31 |
|
|
31August |
August |
|
|
2024 |
2023 |
|
Notes |
£'000 |
£'000 |
| Cashflowsfromoperatingactivities: |
|
|
|
| Netcashprovidedby/(usedin)operatingactivities |
A |
181 |
(71) |
| Cashflowsfrominvestingactivities: |
|
|
|
| Purchaseoftangiblefixedassets |
|
(28) |
|
| Netcashusedininvestingactivities |
|
(28) |
|
| Changeincashandcashequivalentsintheyear |
|
153 |
(71) |
| CashtransferredfromAbsoluteReturnforKids |
|
|
|
| (ArkUKProgrammes) |
12 |
- |
496 |
| Cashandcashequivalentsat31August2023 |
B |
425 |
|
| Cashandcashequivalentsat31August2024 |
B |
578 |
425 |
| A |
Reconciliationofnet(expenditure)/incometonetcash
activities |
flowsfrom |
operating |
|
|
|
13June |
|
|
Year |
2022to31 |
|
|
ended |
August |
|
|
31August |
2023 |
|
|
2024 |
£'000 |
|
|
£'000 |
£'000 |
|
Net(expenditure)/incomeinfunds(asperthestatementoffinancial |
(280) |
|
|
activities) |
|
996 |
|
Adjustmentsfor: |
|
|
|
Depreciationcharge |
5 |
|
|
TransferfromAbsoluteReturnforKids(Ark) |
- |
(496) |
|
Decrease/(increase)indebtors |
872 |
(1,181) |
|
(Decrease)/increaseincreditors |
(416) |
610 |
|
Netcashprovidedby/(usedin)operatingactivities |
181 |
(71) |
| B |
Analysisofcashandcashequivalents |
|
|
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Cashatbankandinhand |
578 |
425 |
| Incomefromdonations |
|
|
|
Unrestricted |
funds |
|
Year |
13June |
|
ended |
2022to |
|
31August |
31August |
|
2024 |
2023 |
|
£'000 |
£'000 |
| GrantsfromUBSOptimusFoundation |
3,386 |
1,182 |
| Othergrantsreceivable |
3 |
1,300 |
|
3,389 |
2,482 |
|
Unrestricted |
funds |
|
Year |
13June |
|
ended |
2022to |
|
31August |
31August |
|
2024 |
2023 |
|
£'000 |
£'000 |
| ImplementingMathsCircles |
2,359 |
917 |
| GrantspayabletopartnerstodeliverMathsCircles |
980 |
845 |
| Grantspayabletopartnersdeliverotherprojects |
255 |
128 |
| Supportcosts(note3) |
76 |
92 |
|
3,669 |
1,982 |
| Supportcosts |
|
|
|
Unrestricted |
funds |
|
Year |
13June |
|
ended |
2022to |
|
31August |
31August |
|
2024 |
2023 |
|
£'000 |
£'000 |
| Finance |
27 |
23 |
| HR |
7 |
13 |
| Governance |
15 |
16 |
| Otheroverheadsandsupportstaff |
26 |
40 |
|
76 |
92 |
|
Year |
13June |
|
ended |
2022to |
|
31August |
31August |
|
2024 |
2023 |
|
£'000 |
£'000 |
| Staffcosts(note5) |
1,333 |
527 |
| Auditor'sremuneration |
|
|
| .Auditfee |
14 |
13 |
| .Otherservices |
2 |
2 |
| Staffcosts |
|
|
|
Year |
13June |
|
ended |
2022to |
|
31August |
31August |
|
2024 |
2023 |
|
£'000 |
£'000 |
| Wagesandsalaries |
1,086 |
435 |
| Socialsecuritycosts |
124 |
48 |
| Pensioncosts |
123 |
44 |
|
1,333 |
527 |
Thenumberofemployeeswhoseemolum
actualemolumentsaccruedinthereporting |
entsfellwithinthefollowingbands
period)was: |
(basedon |
|
Year |
13June |
|
ended |
2022to |
|
31August |
31August |
|
2024 |
2023 |
|
No |
No |
| £60,001-£70,000 |
3 |
|
| £140,001-£150,000 |
1 |
|
|
Computer |
2024 |
|
equipment |
Total |
|
£'000 |
£'000 |
| Cost |
|
|
| At1September2023 |
|
|
| Additions |
28 |
28 |
| At31August2024 |
28 |
28 |
| Depreciation |
|
|
| At1September2023 |
|
|
| Chargefortheyear |
5 |
5 |
| At31August2024 |
5 |
5 |
| Netbookvalues |
|
|
| At31August2024 |
23 |
23 |
| At31August2023 |
|
|
| Debtors |
|
|
|
31August |
31August |
|
2024 |
2023 |
|
£'000 |
£'000 |
| Grantsreceivable |
|
840 |
| AmountsowedfromArkUKProgrammes(note6) |
|
13 |
| Grantsawardedforapplicationinfutureyears |
302 |
328 |
| OtherDebtors |
7 |
|
|
309 |
1,181 |
| Creditors:amountsfallingduewithinoneyear |
|
|
|
31August |
31August |
|
2024 |
2023 |
|
£'000 |
£'000 |
| Tradecreditors |
21 |
55 |
| Grantspayable |
129 |
197 |
| Accruals |
4 |
153 |
| Taxationandsocialsecurity |
40 |
21 |
| AmountsowedtoArk(note6) |
|
154 |
| AmountsowedtoArkUKProgrammes(note6) |
|
16 |
| Othercreditors |
|
14 |
|
194 |
610 |
| Analysisofnetassetsbetweenfunds |
|
|
|
|
Unrestrictedfunds |
|
|
|
|
Tangible |
|
|
General |
fixedasset |
Total |
|
fund |
funds |
2024 |
|
£'000 |
£'000 |
£'000 |
| Fundbalancesat31August2024arerepresentedby: |
|
|
|
| Fixedassets |
|
23 |
23 |
| Debtors |
309 |
|
309 |
| Cashatbankandinhand |
578 |
|
578 |
| Creditors:amountsfallingduewithinayear |
(194) |
|
(194) |
|
693 |
23 |
716 |
|
Unrestrictedfunds |
|
|
|
|
Tangible |
|
|
General |
fixedasset |
Total |
|
funds |
funds |
2023 |
|
£'000 |
£'000 |
£'000 |
| Fundbalancesat31August2023arerepresentedby: |
|
|
|
| Debtors |
1,181 |
|
1,181 |
| Cashatbankandinhand |
425 |
|
425 |
| Creditors:amountsfallingduewithinayear |
(610) |
|
(610) |
|
996 |
|
996 |
|
£'000 |
| Currentassets |
695 |
| Creditors:amountsfallingduewithinoneyear |
(199) |
| TotalnetassetsreceivablefromArkUKProgrammes |
496 |
|
|
|
|
13June |
|
|
|
|
2022to |
|
|
Unrestricted |
Restricted |
31August |
|
|
funds |
funds |
2023 |
|
Notes |
£'000 |
£'000 |
£'000 |
| Incomefrom: |
|
|
|
|
| Donations |
1 |
2,482 |
|
2,482 |
|
|
2,482 |
|
2,482 |
| TransferfromAbsoluteRetumforKids(ArkUK |
|
|
|
|
| Programmes) |
12 |
496 |
|
496 |
| Totalincome |
|
2,978 |
|
2,978 |
| Expenditureon: |
|
|
|
|
| Charitableactivities |
2 |
1,982 |
|
1,982 |
| Totalexpenditure |
|
1,982 |
|
1,982 |
| Netincomeandnetmovementinfunds |
4 |
996 |
|
996 |
| Reconciliationoffunds: |
|
|
|
|
| Totalfundsbroughtforwardat13June2022 |
|
|
|
|
| Totalfundscarriedforwardat31August2023 |
|
996 |
|
996 |