|TRUSTEES'REPORT|1-5|
|---|---|
|STATEMENTOFTRUSTEES'RESPONSIBILITIES|6|
|INDEPENDENTAUDITOR'SREPORT|7-9|
|STATEMENTOFFINANCIALACTIVITIES|10|
|BALANCESHEET|11|
|STATEMENTOFCASHFLOWS|12|
|NOTESTOTHEFINANCIALSTATEMENTS|13-20|





## 

|REGISTEREDOFFICE|41EastgateStreet|
|---|---|
||Stafford|
||Staffordshire|
||UnitedKingdom|
||ST162LY|
|TRUSTEES|PCoates|
||EFBarnes|
||JEWhite|
|AUDITOR|RSMUKAuditLLP|
||CharteredAccountants|
||FestivalWay|
||FestivalPark|
||Stoke-on-Trent|
||ST15BB|
|BANKERS|HSBCUKBankPlc|
||28BoroughHighStreet|
||Southwark|
||London|
||SE1lYB|
|REGISTEREDCOMPANYNUMBER|13738665|
|REGISTEREDCHARITYNUMBER|1202729|





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30/01/2025 



## 

||Note|||Unrestricted||
|---|---|---|---|---|---|
|||Unrestricted||funds|Total|
|||funds|Total|3-month|3-month|
|||Yearended|Yearended|periodended|periodended|
|||March2024|March2024|March2023|March2023|
|||`£`|<br>`£`|<br>`£`|<br>`£`|
|INCOME||||||
|Donations|3|4,243,750|4,243,750|||
|TOTAL INCOME||4,243,750|4,243,750|||
|EXPENDITURE||||||
|Charitableactivities|4|(794,367)|<br>(794,367)|<br>(403,015)|<br>(403,015)|
|TOTALEXPENDITURE||(794,367)|<br>(794,367)|<br>(403,015)|<br>(403,015)|
|NETINCOME/(EXPENDITURE)AND||||||
|NETMOVEMENTINFUNDSFORTHE||||||
|YEAR||3,449,383|3,449,383|(403,015)|<br>(403,015)|
|RECONCILIATIONOFFUNDS||||||
|TOTALFUNDSBROUGHTFORWARD||(832,459)|<br>(832,459)|<br>(429,444)|<br>(429,444)|
|TOTALFUNDSCARRIEDFORWARD|10|2,616,924|2,616,924|(832,459)|<br>(832,459)|





## 

||Note|2024|2023|
|---|---|---|---|
|CURRENTASSETS||||
|Debtors|8|3,269,836||
|Cashatbankandinhand||276,244|76,773|
|||3,546,080|76,773|
|CURRENTLIABILITIES||||
|Creditors:Amountsfallingduewithinoneyear|9|(929,156)|(909,232)|
|NETCURRENTASSETS/(LIABILITIES)||2,616,924|(832,459)|
|NETASSETS||2,616,924|(832,459)|
|FUNDS||||
|Unrestrictedfunds|10|2,616,924|(832,459)|
|||2,616,924|(832,459)|






||Notes||3-month|
|---|---|---|---|
|||Yearended|periodended|
|||2024|2023|
|OPERATINGACTIVITIES||||
|Cashgeneratedfromoperations|15|199,471|(80,689)|
|FINANCINGACTIVITES||||
|Cashreceivedfromloans|||125,000|
|INCREASEINCASHANDCASH||||
|EQUIVALENTSINTHEYEAR/PERIOD||199,471|44,311|
|CASHANDCASHEQUIVALENTSATTHE||76,773|32,462|
|STARTOFTHEYEAR/PERIOD||||
|CASHANDCASHEQUIVALENTSATTHE||||
|ENDOFTHEYEAR/PERIOD||276,244|76,773|





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||||Unrestricted||
|---|---|---|---|---|
||Unrestricted||funds|Total|
||funds|Total|3-month|3-month|
||Yearended|Yearended|periodended|periodended|
||2024|2024|2023|2023|
||£|£|£|£|
|Donationsfromloanconversions|475,000|475,000|||
|Donations|3,525,000|3,525,000|||
|Giftaid|243,750|243,750|||
||4,243,750|4,243,750|||





## 

|TOTALEXPENDITURE|||||
|---|---|---|---|---|
||||Unrestricted||
||Unrestricted||funds|<br>Total|
||funds|Total|3-month|<br>3-month|
||YearendedYearended||periodended|periodended|
||2024|2024|2023|<br>2023|
|||£|£|<br>£|
|Directcosts(note5)|590,483|590,483|335,500|<br>335,500|
|Supportcosts|94,204|94,204|59,214|<br>59,214|
|Governancecosts(note6)|109,680|109,680|8,301|<br>8,301|
||794,367|794,367|403,015|<br>403,015|
|Supportcostscomprise:|||||
||||2024|2023|
|Managementfees|||92,232|58,364|
|Insurance|||1,086||
|Computerrunningcosts|||538|834|
|Sundry|||279||
|Bankcharges|||69|16|
||||94,204|59,214|
|||||Unrestricted|
|||Unrestricted||Funds|
||||Funds|3-month|
|||Yearended||periodended|
||||2024|2023|
|FeespayabletoRSMUKAuditLLPandRSMUKTaxand|||||
|AccountingLimited:|||||
|FeesforStatutoryAuditofaccounts|||24,000||
|Feesfornon-auditservices|||6,167|6,204|
||||30,167|6,204|





## 

|||Unrestricted|
|---|---|---|
||Unrestricted|funds|
||funds|3-month|
||Yearended|periodended|
||2024|2023|
|Grantstoinstitutions|440,000|335,500|
|Managementofbursaryprogram|150,483||
||590,483|335,500|



|Duringtheperioddonationshavebeenmadecoveringthefollowingkeyareasof|Duringtheperioddonationshavebeenmadecoveringthefollowingkeyareasof|activity:|
|---|---|---|
|Education|440,000|<br>335,500|
|Grantsmadeduringtheperiodbetweeninstitutionsareasfollows:|||
|StaffordshireUniversity(Numberofgrants—1(2023:1))|440,000|<br>335,500|



## 

|GOVERNANCECOSTS|||
|---|---|---|
|||3-month|
||Yearended|periodended|
||2024|2023|
|Accountancyfees|6,167|6,204|
|Auditfees|24,000||
|Legalandprofessionalfees|79,513|2,097|
||109,680|8,301|



## 



## 

|DEBTORS|||
|---|---|---|
||2024|2023|
||£|£|
|Prepayments|1,086||
|Donationsreceivable|3,025,000||
|Otherdebtors|243,750||
||3,269,836||



||2024|2023|
|---|---|---|
||£|£|
|Tradecreditors|55,588|81,778|
|Accruals|92,868|11,754|
|Grantaccruals|775,500|335,500|
|Loansfromrelatedparties|-|475,000|
|Othercreditors|5,200|5,200|
||929,156|909,232|



||Balanceat|||Balanceat|
|---|---|---|---|---|
||startof|Incoming|Resources|endof|
||year/period|resources|expended|year/period|
|Yearended31March2024||`£`|`£`|<br>`£`|
|Unrestrictedfunds|(832,459)|4,243,750|(794,367)|2,616,924|
||(832,459)|4,243,750|(794,367)|2,616,924|
|3-monthperiodended31March2023|||||
|Unrestrictedfunds|(429,444)|-|(403,015)|(832,459)|
||(429,444)|-|(403,015)|(832,459)|





## 

|ANALYSISOFNETASSETSBETWEE|NFUNDS||
|---|---|---|
||Unrestricted|Unrestricted|
||funds|funds|
||2024|2023|
|Currentassets|3,546,080|76,773|
|Currentliabilities|(929,156)|(909,232)|
||2,616,924|(832,459)|



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||2024|2023|
|---|---|---|
|NETINCOME/(EXPENDITURE)FORTHEREPORTING|||
|YEAR/PERIOD|3,449,383|(403,015)|
|Increaseindebtors|(3,269,836)||
|Increaseincreditors|19,924|447,326|
|NETCASHGENERATEDBYOPERATIONS|199,471|44,311|





## 

||Asat31March|||Asat31March|
|---|---|---|---|---|
||2023|Cashflow|Non-cashflow|<br>2024|
||£|£|£|£|
|Cashatbankandinhand|76,773|199,471||276,244|
|Loans|(475,000)||475,000||



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