Charlty numb•r. 1199552 THE IOE FOUNDATION UNAUDrrED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
THE IOE FOUNDATION CONTENTS Page Referenc• and admlnlstratlve detalls of the Charlty, Its Trnstees and •dvl$eYy Trustees, report Ind•ndent examlnerfs report Stat8m•nt of flnanclal actlvltles Balanco $hoet 14otes to the fln•ncl•l stst•m•nts 8-11
THE IOE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARirY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025 Trustses H Landau, Chair C Ruslomji {resigned 7 March 20251 V D Mcwilliam P E Aitchison A G Gib50n {appoinled 21 January 2025} Charlty rnglst•rod number 1199552 Prfnclpal office Export House, Minerva 8u8iness Park. Lch w1, Peterl)orough. PE2 6FT Accountsnts Century House, The Lakes. Northampton. NN4 7HD Page 1
THE IOE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2025 The Trustees present their annual report together with the financTal statements of the The IOE Foundation for the 1 July 2024 10 30 June 2025. The Twslees corffirm that the Annual report and ffnancial stslemenls of the Charity comply th the current 5tatuiory requirements. the requirements of the chartys goveming document and the prowsions of the Statement of Recommended Practice {SORPI 'Accountirg and Reporting by Charities" applicable to eharities preparing their accounts in accordance with the Financial Reporting Standard applible in the UK and Republlc of Ireland {FRS1021 {effective 1 January 20191. Oblgctlves and adlvltl•B a. Constltutlon The IOE Foundation, a Chafltable Incorporated Organisation, was rogister8d as • foundation CIO on 5 July 2022. b. ObJe¢tlveJ The IOE Foundation 18 a grant-maker which focu8es its rk in the folltr•Mng areas., 1. The advancement of education of young people in Export and Intemational Traile wthin the ages of 1&25 years in the UK. 2. The provision of financial grants which 8Ltpport edtIon inatIveS at schools. colleges and unr¥ersthes. 3. Working in partnership with liktrmlnded charities. ¢. Maln actlvltles undertaken to further the Charlty's purposes for th• publlc b•n•fft The Trustees have considered the Charity Commission's requirement in respect of Public 8enefiL In their v78w thé Charity meets, in full, the crf(er*a lo satisfy the lest. In particular, in planning ftrture actilthies of the organisation, the Trustees considor how planned activities will contribute lo the aims and obiedves they have sel. AchIeMents and performan¢¢ a. Revlew of actlvltles The Cherity has forged successful partnefships ¥th Young Enterprise Ich8rrty number 31369n and Scottish Edge (charity number SC0035581. A separate Agreement has additionally been reached wth Young Enterprise Northern Iroland. The Charity is awarding ils Certificate of High Achievement lo participants undertaking the IOE & IT examinations at Levels 3, 4 and 5 and passing with 8 Dists'nction. A number of contacls have been made vthh other Charities in the UK with 0M il is experted to work in the future. Page 2
THE IOE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 Flnanclal rnvlew a. Golng cOnM After making appropriate enquiries, the Trustees hove o reasonable expectalion that the Charity has adequate resources lo continue in operational extslence for the foreseeable future. For this reason. they continue lo adopt the going wn¢em basis in pr8pariThJ the financial $tslements. Further dgtsrfs regarding the adopts'on of the going COnM basis can be found in the accounting policies. b. RerveS pollcy The Trusleos set a reserves policy annually. and the current policy remains that we will hold a minimum of three months, wnning costs plus liabilits"es. This is to allow any potents'al wnding up of the organisation to go ahead, and is in line wth recommendations from the Charity Commission. The Charity has total funds at the year end of £73,772 {2024- £77.1991. c. Prlnclpal fundlng During thè year the principal funding related lo a donation is from Ttte Chartered Instte of Export and Intemational Trade {Royal Charter Company No. RC000937. Charity No. 1206688).. Structure, governance and management a. Methods of appolntment or electlon of Trtlee The management of the Charty is the re$sibIlIty of lh8 Trustees are elected under the temis of tho Charitys ConstitLrtion. b. Pollcl¢s adop¢•d forlhe Inductlon and tralnlng of Trust9 Trustees are recruited th a view to their experience and skills. Potential Trustees are encouraged to attend a meeting of the Board of Tfuslees to learn more about the work of the Charity and the role of a Twstee. A new Trustees, induction $es$ion is offered to all neIY elected Trustees. Training is provided as necessary to all Trustees. Trustees have a range of qualrfications and skills. as well 88 a range of experience in the voluntary. ststutory aTh prrvate sectors. There musl be 81 least three Charity Trustees. If the number falls bel¢)w thls mlnimum, the remaining Trustee or Trustees may act only lo call a meeting of the Charlty Trustees or appolnl a new Charity Trustee. The maximum number of Charity Trustees is 12. The Charity Trustees may not appoint any Charity Twstee if os a result the number of charity Trustees would exceed the maximum. Apart from the first Charity Trustees. every Trustee must be appolnted for a temi of three years by a resolution pa8S8d at a propety convened meeting of the Chaty Trustees. c. Flnan¢lal rfsk managemont The Trustees have assessed the major risks to vthich the Charity is exposed. in partirjjlar those related lo the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Page 3
THE IOE FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Structure, govemance and management (¢ontlnued) d. Organlsatlonal Structure and declslon maklng The charity Is governed by a Board of Trustees. thich is responsible for rts effective management and future evelopmenl. Plans for future perlods The Charty intends lo continue lo work bwth key partmr organisations whith deliver the Chartys desired outcomes and whose impact c8n be measured. ststement of Truste8s' rnsponslbllltlos The Trustees are responsible for preparing the Trustees, report and the financial statements in ??rdano vAth applic8ble law and United Kingdom Accounting Standards Iunlted Klngdom Generalty Accepted Accounting Practice). The law applicable lo tharities in England & Wales requires the Trustees lo prepare financial statements for each financial which give a true and fair view of the stste of affairs of the Charity and of ils incoming resources and application of resources. induding its income and expenditure, that period. In preparing these financkql 5ts1ements. the Trustees are required to.. select sUrtae &counting pdicies aThJ then appty them nsiStenI1. obseNe the methods and principles of the Charities SORP {FRS 1021" make judgments and accounting estimates that are reasonable and pnjdent., stste whether applicable UK Accounting Stsndards {FRS 102) have been followed. 8ubject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless it Is Inappropriate to presume that the Charity wll continue in business. The Trustee8 are responsible for keeplng adequate accounting records that are suffient to show aThJ explain the Charivs transactions and disclose wth reasonable accuracy al any time the financial position of the Charity and enable them to ensure that the financial statements compty wlh the Charities Ad 2011, the Chanty (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 tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of I rnembers of the board of Trustee5 and signed on their behaw by. M H Landau Chair Date. g£/ii12J Page 4
THE IOE FOUNDAnON INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2026 Independent •xamlnerfs report to the Trust•es of The IOE Foundatlon (Yhe Charfty'l I report to the charity Trustees on my examination of the arKourts of thè Charity for the year ended 30 June 2025. Responslbllitles and basls of report As the Trustees of the Charity you are responslble for the preparation of the accounts in accordance wilh the requirements of the Ch8r6ties Act 2011 {Ihe 2011 Acf). I report in respecl of my examination of Ihe Charitys accounts carried OLrt under section 145 of the 2011 Acl and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5}Ib} of the 2011 ACL Indep•ndont oxamlngrfs slatoment Your attention is drawn to the fact that the Charity ha$ prepared the accounts In accordance with Accounting and Reporting by Charitses.. Statement of Recommended Practice applicable lo charlt6es preparing their account5 in accordance wth the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporbng by Charib'es.. Statement of Recommended Practice issued on 1 April 2005 vknich is refetred to in the extant regulations but has been Vthdrawn. l urthrsland that thls has been d¢)ne in order for the accounts lo prode a true and fair view in accordance vAth the Gener81ty Accepted Accounting Practlce effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confim) that no matters have come lo my attention in connectlon Vth the examination giving me cause to believe that in any material respecL" accounting Tecords wore ry)t kept in respect of the Charity as required by section 130 of the 2011 Act., or the a¢UnIS do not accord Yth those rerds. or the accounts do not compty with the applicable reqU1ments conceming the form and content of accounts Sel otrt In the Charities {Aecounts and Report81 RegulatSon8 2006 other than any requirement that the accounts give a 'true and fairf view whlch is not 8 matter considered as part of an independent examinakn"on. I have no concems and have come across no other matters in connoction wth the examination to which attention should be drawn in this report in orderto enable a proper understanding of the a¢counls lo be reached. Signed.. Rebecca Hughes 8Sc IHons} FCCA MHA Chartered A¢countsnts Northampton, United Kingdom Dated.. 0411212025 Pagè S
THE IOE FOUIIDATION STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 30 JUNE 2025 Unrestrlctod funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies 50,000 60,000 50,000 Total Income 50,000 50,000 50,000 Expendlturo on: Raising funds Charitable aCtive5 2.786 20.000 62.079 52,079 Total èxpendltur• 63,427 53,427 22.786 Net movement In funds 13A27) (3N271 27.214 Reconclllatlon of funds: Total fvnds brought forward Net movement in funds 77,199 {3,427) 77,199 13.4271 49,985 27,214 Total fund8 caffled fornard 73,T12 73.772 77,199 The Statement of financial activitres indudes all gains and losses recognised in the year. The notes on pages 8 to 11 form part of theso financial ststements. Page 6
THE IOE FOUNDATION BALANCE SHEET AS AT 30 JUNE 2025 2026 2024 No¢• Flxed assets Current Issets Cash at bank and in hand 94.708 99,719 94,708 99,719 Current Ilabllltles Creditors.. amounts falling due wlhin one year (20.936) {22,5201 N•¢ ¢urr•nt assets 73.772 77.199 Totsl net assets 73,772 77.199 Charlty fvnds Restricted funds Unrestricted funds 73.772 77.199 Totsl fund• 73,772 77.199 The financlal statements were approved and authorised for issue by the Trustees and signed on their behalf by.. .M H Landa Chair Date.. 2Cfiill5 The notes on pages 8 to 11 fom part of these financial statements. Page 7
THE IOE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 A¢¢ountlng polklos 1.1 Ba$Es of proparntlon of flnanclal statements The financial statements have been ppared in accordance wth the Charibes SORP IFRS 1021- Accounting and Reporting by Chariues". Statement of Recommended Practice applicable to charitios preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 leffective 1 January 20191, the Finarrial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charilies Act 2011. The IOE Foundation meets the defin¢tlon of a public benefit entity under FRS 102. Assets and liabilities are initsally recognised at historical cosl or transaction value unless olhemse stsled in the relevanl accounting policy. 1.2 Golng concern The Tnjstees have conciuded that there are no material uncertainti85 aboLrt the Trusts ability lo continue as a going concem and that they can continue to adopt the going concem basis in preparing the annual report and accounts. 1.3 Income All i1me is recognised once the Charity has entiuement to the inme, it 1$ probable that the income will be received and the amount of income receivable can be me8sured rellabty. 1A Expendlturn Exponditure is rewnised once there is a legal or constructive obligation to transfer economic benefit to a third paty. il is probable that a Ir8nsfer of economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classffied by activty. The costs of each aciivity are made up of the totsl of direct costs and shared costs, including support costs involved in undertaking each actmty. Direct costs attributable to a single adivty are allocated direcuy to that acbvity. Shared costs vthich contribute lo more than one acliwty and support costs which are not attributable lo a single actiwty are apportioned bets•en those actiwties on a basis consistent with the use of resources. Central staff costs are allocated on the ba$is of time spent, and depre¢iation charges allocated on the portion of the asseys use. Expenditure on raising funds includes all expenditure incurred by the Charrty to raise fvn¢Js for its charitable PUTposes and indudes costs of all fundraising aCtThIe$ events and non-charitsble tratjing. Expenditure on chafitable activities is incurred on tJirecYy undertaking the activrbeg lch further thg Charitys objectives, as well as any associated support costs. Grants payable are charged in the year %then the offer 1$ made except in those cases where the offer is condits'onal. such grants being recognised as expendrture vknen the conditions attaching are fulfilled. Grants offered subject lo conditions which have not been met at the year end ar8 noted as a commitment, bul nol accrued as expendilure. JI expenditure is inclusive of irrecoverable VAT. Page 8
THE IOE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026 Accountlng pollclos {contlnued} 1.5 Cash at bank and In hand Cash at bank and in hand indudes cash and Short-term highly liquid investrnents with 8 short maturity of three months or le$$ from the date of awuisition or opening of the deposit or similar account. 1.6 Ll•bllltles and provblons Liabilities are recognised vthen there is an obligation at the Balan sheet date as a result of a past event. it is probable that a transfer of economic benerrt will be required in settlement. and the amount of the setuement can be estimated reliatly. Liabilities are recognised at the amount that the Charity anticipates il will pay to settle the debt or thg amount il ha5 received as advanGed payments foi the g¢)o(Is or seNces il must prov4de. Provisions are measured at the b8St estimate of the amounts required lo settle the obligation. Where the effect of the time value of mongy is material, the provision is based on the present value of those amounts, discounted at the pre-tsx discount rate that reflects the risks specffic to the liability. The unwinding of the discount is reGognised in the Statement of financial activities as a finance cosL 1.7 Fund accountlng General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objecttve5 of the Charty and vthich have not been designated for other purposes. Income from donatlons and logacl•$ Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 DonationB 50.000 so.000 50,000 Page 9
THE IOE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Anatysl$ of exndItUrn by actlvltles Actlvltle$ und•rtakgn dlrectly 2025 Grant fundlng of •ctlvttlos 2025 Total funds 202S Total funds 2024 Direct C081s Young Enterpr18e Avtard Sponsorship Of IMpOEXpOrt sh¢)w 4,404 38,875 10,800 36.876 lo00 20,000 Total 2025 4.404 47,675 52.079 20.000 Total 2024 20,000 20,000 Credltors: Amounts falllng due wlthln one year 2026 2024 Other creditors Accruals and deferred income 18.895 2,041 21.200 1.320 20.936 22,520 Page 10
THE IOE FOUNDATION NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 30 JUNE 2025 Statemènt of funds Statement of funds - current yHr Balance at 30 June 2025 Balance at 1 Juty 2024 Income Expendlture Unre8trfcted fvnd8 Reserves 77,199 153,42n 73,772 Statement of fvnds - prloryear Balance at 30 June 2024 Balance at 1 Juty 2023 Income Expenditure Unrestrlcted funds General Funds- all funds 49,985 50,000 122,7861 77,199 An•tysl$ of net assets between funds Analysls of nel assets botween fund8 - current year Unrestrlcted funds 2025 Total funds 2025 Current assets Cr8ditors due within one year 94,708 120,938} 94,708 120,936) Tot•1 73,772 73,772 Page11