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**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 



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|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|





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|Trustee|AppointedIResigned|
|---|---|
|DanielJamesAbramson|Appointed13June2022|
|KathrynGreenhalgh|Appointed12October2022|
|AlexanderGerko|Appointed13June2022|
|CharlotteAlicePotter|Appointed13June2022|
|JonathanHill|Appointed19October2023|
|EdwardSouthall|Appointed11thFebruary2025|





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|SLTMembers|Role|
|---|---|
|DavidThomas|CEO(fromMay2023)|
|SyreetaAllen|StrategyDirector(fromJanuary2023)|
|CatherineFenwick|OperationsDirector(fromSeptember2022)|
|SamHarvey-Brewin|CurriculumDirector(fromSeptember2022)|
|NaomiBurleyBaker|SchoolPartnershipsDirector(fromNovember2023)|
|AdamGeach|DeliveryDirector(fromNovember2023)|



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13 February 2025 



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|||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 <br>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|





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|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|





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||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|



## 

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|Thenumberofemployeeswhoseemolum<br>actualemolumentsaccruedinthereporting|entsfellwithinthefollowingbands<br> period)was:|(basedon|
|---|---|---|
||Year|13June|
||ended|2022to|
||31August|31August|
||2024|2023|
||No|No|
|£60,001-£70,000|3||
|£140,001-£150,000|1||



## 



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||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|<br>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|