Peter Coates Foundation
(limited by guaraiilee)
TRUSTEE REPORT AND UNAUDITED FtNANCIAL
STATEMENTS
For the year ended
31 M£ireh 2025
Coinpaiiy Registration No. 13738665
Registered Charity No. 1202729

Peter Coates Foundation
CONTENTS
TRUSTEES REPORT
STATEMENT OF TRUSTEES, RESPONSIBILITIES
INDEPENDENT EXAMINER'S REPORT
STAI'EMEN'I, OF FINANCIAL ACTIVITIES
BALANCE SHEET
SI'ATEMENT OF CASH FLOWS
10
ACCOUNTING POLICIES
NOTES TO THE FINANCIAL STATEMENTS
13

Peter Coates Foundation
TRUSTEES, REPOR1"
REFERENCE AND ADMtNISTRATIVB DETAILS
Charity NLimber'.
1202729
Company Number..
13738665
Ti'UStees'.
P Coal¢s
JE While
EF Barnes (r¢sign¢d 23 May 2025)
Sl-l Gall¢il¢y (appointed 23 May 2025)
OR Adaii)s {appointed 23 May 2025)
Accountanl..
RSM UK Tax and Accounting Limited
Fcslival Way
Festival Park
Siok¢-on-Trent
Slafford5hire
STI 5BB
Bankers:
HSBC UK Bank PIC
28 Borough High Street
Southwark
London
SEI IYB
Unitsd Kingdom
RegisteredlPrincipal Office:
bet365 House
Media Way
Stoke-on-TTent
STI 5SZ
Page I

Peter Coates Foundation
TRUS'I"LES' RL,POR'I'
Foi. the yeai- cnded 31 Mai'ch 2025
The Triistees present their annu21 report togethcr with the financial statements gf thc chai'ity for the year
ending 31 Majrh 2025 which arc also prepared lo mcct th¢ rcquircrneiils foi. a director5, report and
ac¢ounts for Companies Act purposes.
The financial statements comply with ihe Charities Act 2011, the Companies Act 21M16, the Memoranduin
and Articles of Associalioii, and Accounting and Reporting by Cliarilies.. Stateinenl of Recoininendcd
Practicc applioablc lo chai'ilies prcpai'iiig Ilieir accouiils in accordance with tlie Finaiicial Repoi'ting
Standard appli¢able in Ihe UK and Republic of Ireland (FRS102) issued in October 2019.
STRUCTURF,, GOVERNANCE AND MANAGEMENT
Goveini17g Documenl
The organisation 15 a charitable coinpany limited by guai'anlee. Tlie coinpaiiy was graiiled charitable status
on 14 April 2023. On that date, conipany's director5 also became cliai'ity Ti'uslees. The coinpany was
established under a Meinorandum of A550ciation, which established the objects and powers of the
chai'itable company and is governed under its Articles of Association, dated I l Novembei. 2021. In the
event of thc cornpany beii)g wound UP* Imeinbeis alE IEquircd to coiitribute an ainount not exceeding £1.
RLJc'p'uilmenl andAppoi171inenl of TriiA'lees
Tlie directors of the coinpany are its Trustees for the purpose of Charity Law and throughout this report are
collectively referred to as the Trustees.
The charitable company must have a minimum of 2 Trustees at any time and is not subject to any
maximuin numbei.. Trustees are appointed by resolution of the Board of Trllstees. 'fhe first Ti'ustees hold
office for life and subsequent Trustees are appointed for a term of 3 years after which they are eligible for
reappointment for lip to a fiirther two terms.
Trustees are appointed as Members on appointment as TNstee. All decisions regarding management of the
Foundation and the distribution of its funds are Inade by the Trustees. 'fhe Foundation has no employees
and is not chaiged for the Trustees. time. However, the Foundation receives administrative 5UPPOrt
through a related patty. for which there is no charge.
Ti'iislee Jnduclion and Ti-oining
New Trustees are supplied with the Charity Commission publicatioti, 'The Essential Trustee.. What You
Need to Know,, along with the Memorandiim and Articles aiid the lalesi financial stalemenls. Each year
appropriat¢ training is supplied to keep the Board apprised of relevant changes in regul81ion. Should any
additional specialised training be requii'ed for the existing, or any newly appointcd Trust¢cs, tlicn
appTOPI'iate ITaiiiiiig arraiigemcnls will be put in placc.
Triislees, indeinnity insurance
The Foundation holds Iruslee indemnity insuran¢e, the cost of this was £1.086 (2024: £1,086).
Relaledparlies
The Foundation received admsnistrative support froin be1365 Group Limited during the period. Two of the
Foundation's Trustees are Directors of bet365 Group l.imited. and this entity is IherefoiE deetned to be a
Irlated party.
Risk Manc7geinenl
The Ti'uslees liave ¢onsidered in detail the risks fa¢ing the Charity, the Controls in place to mitigate those
I'i5ks and action plans lo deal witl) those aieas where controls could be enhanced. The Trustees believe that
they liaye appropriate controls in place, commensurate with the size of the organi5alion and Iheii. cost
cff¢cliv¢ncss, to initi¥ate the rigkg identified. The Trustees i'eview and update the gs%5smcnl of Ihc risk5
facing th¢ Charity, log¢th¢r with an assessment of the contiblg on a regular ba51S.
Page 2

Peter Coates Foundation
TRUS'fECS' REPORT
For tlie ycai. ended 31 March 2025
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Chai'ilabl¢ ObjÈLliiyes
Th¢ Charity's objectives. as set out in the govei'ning document, are restTicled spc¢ifi¢ally to the proinotion
for th¢ benefit of the public of urban regenei'ation in tlie area of Stoke-on-Trent and North SlalToirfshire, an
aira of social and economic deprivation, by all oi. any of the following mean.. (a) the relief of poverty and
fiiiaiici41 hardship.. (b) the relief of unemployinent: (c) the advancemeiit of ediicalioii, training or ietraining
in paiticular but nol exclusively, by the provision of fui)ding (iiicluding bU￿alY aiid gi'ant funding) for
students who undertake postgraduate studies to develop their skills in business oi. ei)trepreneurship'. (d) the
provision of financial assistance, technical assistance or biisiness advice OT COI)sultancy in order to provide
Iraiiiing and cinployment opportunilies for iinemployed people in cases of financial or othei. cliarilable
need tlirough hclp.. (i) iii setling up (heir own business, or {ii) to existing busine55es.' (c) th¢ crcalioii of
training and employment oppoi'lui)ities by the provision of woi'kspace, buildiiigs, andlor land foi. Iisc on
favourable terms: and (fj such other means as In&y be determiiied subject to the prior eonsent of the charily
commissioners for F.ngland and Wales.
Aclivilies
During the year, tlie cl)arilable focus was on grants to Siaffordshire University to fund places on Tlie Peter
Coates Msc in EnliEPIEneurship. The Foundaiion has worked with the Univeisity with regai'ds to tl)e
development of the course and sludenl liaison edu¢ation. Activities also included awaiyling growth grants
to suceessful applicants fiK)m tlie coiirse to support the growth of their local businesses. The gi'ants aTe
aiined at providiiig capital equipmcnt to ncw bLisinesses, helping yoiing or new biisinesses seeking lo
einploy a workfoire in tlie Stoke-oii-Tr¢nt area, and new oi. existing business owners who are experiencing
poverty or financial hardship.
Public Benefil
The Ti'ustees confirm that Ihcy hav¢ r¢fetTed to the guidance contained in the Chai'ity Coinmission's
general guidance on public benefit wlien r¢vi¢wing th¢ Charitable Compaiiy's aims and objectives and iii
planning future activities and setting the grant makingy poli¢y for the year. The Ti'ustees believe that tlie
Foiindation meets the principles JElating io ¢harilies and public benefit described in the Charity
Commission guidance and that this Trustees, Annual Report demonslral¢s the Foundation's contribution.
Giujii MukiJ?g Policy
The Trustees are keen to 5UPPOrt activities which advan¢e the Objects in an etTective way. However. they
recognise that a limited amoiint of fuiids al'e available lo disti'ibule each year. The Trustees have initially
identified that economic growth and regeneration come5 from the Con￿ntratiOn of lalenl
a clustering
force which makes a popiilation more productive, aiid in turn, generates incirascs in output and wealth. It
is with this in mind that the Tru5tees' current funding prioi'ities arc to award gi'ants to Staffoi'dshire
University, to Cover the tuition fees for their academic programme, the "Pelei. Coates Msc in
Enlr¢pirneurship" This intensive course will provide graduates with specialist entrepreneurship and
busincss skills and therefore attract. maximise and retain entrepreneurial talent for the long-lerm benefit of
the economy in Stoke oli Trent and North Staffoi'dshire. Staffoi'dshirc Univcr5ity will iic¢d to Satisfy the
Trustees ihat their selection criteria for the Msc is aligned witli the Chai'ity's Gi'ant Making Policy.
The Truste¢s will also Consider providing funding each year to support otheT urball IEgen¢ralion aclivilies
in Stokc on Trent which support its objectives. This Inay be in tlie form of funding for other registered
cl)arities andlor organisations which provide training for the uneinployed, assist the unemployed with
finding woi'k and provide workspace and buildings 011 favourable terms. The Tru51e¢s will take steps to
actively identify projects which align with its objects J7tlier than accepting application5 for funding. Pi'ioi.
to any grants being made lo any charity or organisation, the Ti'ustees will ensure due diligence is carri¢d
out on any recipient charity or organisation and ensure that their work and the identified project furth¢rs
Ilie Charity's objects.
Page 3

Peter Coates Foundation
TRUS'I'EES, REPORT
For the year ended 31 March 2025
Gianl MakiFFg Policy (conlinued)
The Truste￿ may award grants that fall outsid¢ the prioriti¢5 5tatcd abovc provided that Ihcy are satisfied
that the grant will further the Object5 and is an appropriate use of the Foundation's funds.
ACHIEVEMENTS AND PERFORMANCE
Th¢ Foundation made a grant to Slaffordsliiir University for it lo providc bursarics foT Studcnls atlellding
the Msc iii Eiilrcpi'¢n¢uTsliip prograinii)¢ at SlatYordsl)ilT Uiiiversity. Total Cducalioiial gi'ant fundiiig
Committed dui'ing the year was £253,000 (2024.. £440.000). This coveiE full tuition fees foi. 23 students.
The Foundation has re￿ived feedback from the University with regards lo the course design and
usefulness. whKch was ¢Xtrcinrly positive. The Foundation lias worked closely with the University with
regards to the successful piogramme design aiid met regularly with bursary recipients to provide additional
business support lo students.
The Ti'ustees monitor the number of bursaries awarded by the University to students each year.
The Foundation awarded 5 (2024.. 0) applicant5 from the couise a growth grant of £20,1￿0 each (2024.. 0)
to support the gi'owth of their local businesses.
FINANCIAL REVlbW AND RESULI'S FOR THE PERIOD
A Statement of the Financial Activities of tlie Foundation is given on page 10. The income foi. the pei'iod
was derived froin gift aid of £187,500 (2024.. £243,750), donations of £nil (2024.. £4,000,000) and interest
received on gift aid of £2,829 (2024.. £nil). This included loans amounting to £nil {2024.. £475,000) which
were converted into donations in the year with all I'l￿]tS to repayment accordingly waived.
Duriiig the year, £501,408 (2024: £590,483) wa5 expended on direct costs relating to charitable activities.
After allowing for govemance cosls of £60,514 (2024: £109,680) and support costs of £92,361 (2024:
£94.204) this resulted in net expenditiire for the year of £463,954 (2024.. net incoine of £3,449,383) whicli
was all unrestricted (2024: all unrestricted).
On 17th June 2022, confimiation was given by the irlated paty donor of his commitment to donat¢ at least
£4,000,000 to the Foundation if (hey achieved charitable status, which was achieved on tlie 14 April 2023.
Takinb? accoiinl of the £1,725.000 received to date, at the end of the finan¢ial year there were £2.275.000
(2024.. £3,025.000) of committed donations due to the charity.
Th¢re w¢ir oiit51anding unconditional Commitments due lo Ihc University of £1,028,500 (2024.. £775,500).
Rclained fiinds at Ili¢ ycar-end w¢r¢ £2,152,970 (2024.. £2,616,924) con5lSting of unrcslricled funds only.
In the view of the Trustees. the funds held at 31 March 2025 were sufficient to fulfil its existii
obligalions.
GOING CONCERN
Al tlic litn¢ of approving the financial 5tatem¢nts. th¢ Truste¢s liavc an ¢xpe¢tation that the charity has
adequate resources lo continue in operational existence for the foreseeable future. The Trustees have
prepared forecasts which indicate tl)ul the level of donations, together with their associated gift aid claiins,
will be sufficient lo cover charitable expenditur¢ for at least 12 Tnonihs from the date of signing the
accounts. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the
financial slalem¢nts.
FUTURE PLANS
The Foundation plans to ¢ontinu¢ lo work with Slaffordshire University and to provide grants to support
ui'ban rcgcncration initialivcs. Thcy will conliniic lo piDvidc grants and donations that mecl tlie
FoundatiQll'5 ¢harilable objcclives.
Page 4

Peter Coates Foundation
TRUSTLES, REPORT
For the year ended 31 March 2025
RESERVES POLICY
It is tl)e inteiition of the Ttustees going forward that sufficient reserves will be held to finance all
coininitted cliai'ilabl¢ activity and associated costs. The Trustees have reviewed the I'eserves policy and
have agiEed thal the level of IEserves is assessed annually in order to mitigate current and fuluir I'isks as
well as enabling Peter Coates Folindation to achieve its objectives. As al 31 March 2025, th¢ actual
reserves were £2,152,970 {2024.. £2,616.924)- All funds are unrestricted.
This report has been prepared in accordaiice with tl)e Stateinent of Recommended Praclice.. A¢counling
and Repoiting by Charities (issued in Marcli 2005) and in accordance with the special provisions
applicable to small companies under part 15 of the Companies Act 2006.
By oilter of il)e board
Petei. Coates
Truslee
2025
Page 5

Peter Coates Foundation
STATEMENT OF TRUSTEES, RESPONSIBILITICS
Tlie Ti'LlStee5 {wlio are also the Dii'ectors of Peter Coates Foundation for Ilie pui'poscs of coinpaiiy law) are
respoi)sible for PlEparing the Ti'ustees, Annual Report and the finai)¢ial slalements in accoi'dance with
applicable law and United Kingdom Accounting Siandaixls (Unilcd Kingdoin Generally Accepted
Accounting Practice).
Company law requiiES the Charity Trlislees to prepair fii)ancial stateiiien15 foi. each year which give a true
and fair view of the state of affairs of the charitable compaiiy and of the iiicoiniiig resources and
application of IEsources, including tl)e income and ¢xpenditui'c foi. that pei'iod. In PTeparing the finaiicial
statements. the trustees are required to:
-select suitable accounting rx)licies and then apply tlietn consistently.
-observe the methods and prin¢ipl¢s in the Chai'ities SORP.
-make judgments and estimates that are I'¢asonable aiid prudent.
-slate whethei. applicable ac¢ounting 5tandaTds have been followed, subject to any material
departures disclosed and ¢xplaiii¢d in tlic financial statements;
-pirpare tlie finan¢ial stat¢incnls on the goiiig concei'ii basi5 unless it is inappropriate to presume
that th¢ Charily will Continue iii business.
The Trustees are responsible for keeping proper accounting records thai disclose with reasonable acciiracy
al any liillc tl)e financial position of the charity alld to enable them to ensure thal the financial Statements
comply with thc Conipanics Aol 2006. They air also re5P0115ible for safeguai'dittg tJ)e assets of the Chai'ily
and hence taking reasonable steps foT the preventioi) and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integi'ity of the coi'porate and financial infomialion
included on the cl)aritable company's website. Legislation in the United Kingdom gov¢riiing the
pi'¢paration and dissemiiiation of fii)ancial statements Inay differ from legislation in other jurisdietion5.
Page 6

INDEPENDENT EXAMENER'S REPORT TO THE TRUSTEES OF PETER COATES
FOUNDA'fioN
I report to the trustees on my exainination of the financial slatemenls of Peter Coates Foundation {"the
¢ompaiiy") for the year ended 31 March 2025, which ale set OLIt on pages 8 to 19.
RESPONSIBILITES AND BASIS OF REPORT
A5 th¢ tl'U51ee5 of the company (and also its directors for the purposes of cotnpaiiy law) you air respoi)sible
for the preparation of the financial statements in ac¢oi'dan¢e with the requiiEinents of the Companies Act
2006 {'the 2006 Act,).
Having satisfied myself that the financial statements of Ilie ¢oJnpany are not Irquired to be audited linder
Part 16 of the 2006 Act and are eligible foi. indepei)denl examinatioii I IEPOrt in respect of my examination
of your charity's financial statements as cai'i'i¢d oul ui)der section 145 of the Charities Act 2011 I'the 2011
Act,). In cariying out my examination I have followed Ihc Directions given by the Charity Cominission
under section 145 (5Xb) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit
and consequently does not cover all the malleis that an auditor considers in giving their opinion on the
financial statements. The planning and conduct of an audit goes beyond the limited assurance that an
independeiit examination can provide. Consequently? I cxpress no opinion as to whether the finai)rial
statements presenl a 'true and faiF view, aiid Iny report is liinited to those specific matters sel oiil in the
independent examiner's statement.
INDEPENDENT EXAMINER'S STA TEMCNT
have completed my exainination. I confirm that no material matters have ¢ome to my attention in
connection with the examination giviiig me reasonable cause to believe that in any materi81 respe¢l.'
a¢countinE records were llol kept in respect of ihe company as required by section 386 of the 2006
2. the financial stateiTJcnts do iiot accord with those records. or
the financial statements do iiol coThply with the accounting requirements of section 396 of the
2006 A¢t other il)an any requirement that the financial statements give a 'true and fair view, which
is not a matter considered as pai1 of an independent examination. or
4. the financial slatcmenls have not been prepared in aceordance with the m¢thod5 and principles of
the Stalemci)t of Rccoininended Practice.. Accounting and Eleporting by Chai'ities applicable to
¢harili¢s prcpai'iiig their fiiiancial statements in accoi'dance with the Financial Reporting Standard
appli¢able li) the UK and IIElaiid (FRS 102}.
I have no concerns and have corne across no other Inatters in connection with tlic exaTnination to which
attciition sl)ould be di'awn in this report in order to enable a piDpei' under51andiiig of the financial
statement5 to be reached.
Naine.. Kerry GRIIAgher FCA DehA
Name of applicable listed body.. The Institute of Chartered Accountants in England and Wales
Relevant pi'ofessioiial qualification or membership of professional body.. Chartered Accountant
ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED
Chartered Accountants
Davidsoii House
FoTbury Square
Reading
Berkshiir
RGI 3EU
Dale..
Page 7

Peter Coates Foundation
STATF.MF.NT Ob FINANCIAL ACTIVITIES {INCLUDtNG tNCOME AND
EXPENDITURE ACCOUNT)
for the
ear elided 31 Mai'ch 2025
Note Unrestricted
Funds
Yeai. ended
Marcli 2025
Total
Year ended
Mareli
2025
Unrestricted
Fiinds
Year ei)ded
March 2024
Total
Year endcd
March 2024
INCOMF
Doiiations
Intercsi Receivcd
187,500
2,829
187,500
2,829
4.243,750
4,243,750
TOTAL INCOME
190,J29
190,329
4.243.750
4.243,750
EXPENDITURE
Charitable activities
(654,283) (654,283)
1794.367)
(794,367)
TOTAL EXPENDITUR
(654,283) (654,283)
(794,367)
{794,367)
NEI T (FXPENDrruRE)I INCOME
AND NET MOVW.Mfi Nl's IN
FUNDS fiOR THE YEAR
(463,954) (463,9S4)
3,449.383
3.449,183
RECONC.ILIATION or FUNDS
Tolal funds brought fonvard
2,616,924
2,616,924
(832,459)
(832.459)
TOTAL fuNDS CARRIED
FOR WARD
2,152,970
2,152,970
2,616,924
2.616,924
All fund5 air unTestricted.
Tlicrc wcre 110 other recognised gains or losses for the yeai.. All income and expenditure derives fi'om
continuing activities.
For the year ended 31 March 2025. the charitable company was entitled to exemption from audit under
section 477 of the Companies Act 2006 (the Act) Irlating to small companies.
The Trustees, and directors, responsibilities..
The members have not required the charitable coinpany to obtain an audit of ils financial
statements for the yeai. in question in accordance with section 476 of the Act,. and
The Trustees and directors acknowledge their iesponsibililie5 for complying with the requiremeTrts
of (he Act with respect to accounting re¢oiYfs and the preparation of financial statements.
Page 8

Peter Coates Foundation
BALANCE SHEET
At 31 Mai'¢h 2025
Notes
2025
2024
CURRENT ASSETS
Debtois
Cash at bank and in hand
2,276,086
1,064,524
3.269,836
276,244
3,340,610
3.546,080
CREDITORS.. Amounts falling due
within one year
(1,187,640)
(929,156)
NET CURRENT ASSETS
2,152,970
2.616,924
NET ASSETS
2,152,970
2,616,924
FUNDS
Unrestricted funds
2,152,970
2,616,924
2,152,970
2,616,924
These financial statements have been piepared in accordance with the provisions appli¢able to ¢omp4nies
Slibject to the small companies, regime.
These financial statements were approved by Ihe Ti'ustees and authoi'ised for issue on14&.¥ IS aTJd are
signed on its behalf by:
P Coates
Trustee
Company Registration numbei.: 13738665
Regisler¢d Charity number: 120729
Page 9

Peter Coates Foundation
STATF.MENT OF CASH FLOWS
for the yeai. ended 31 March 2025
Note Year ended
2025
Year ended
2024
NET CASH PROVIDED BYIIUSED IN) OPERATING
AC'I'lVI'fiES
15
788,280
199.471
CHANGE IN CASH AND CASH EQUIVALENTS IN THE
PERIOD
788,280
199,471
Cash and cash eqiiiyalenls at the beginning of tlie period
276,244
76.773
Total ¢a5h and casli equivalents at ihe end of the period
1064,524
276.244
Poge 10

Peter Coates Foundation
ACCOUN"I"ING POLICIES
CHARITABLE COMPANY INfoiiMATION
Petci. Coates Foundatioli 15 a privatc rompany limited by guarantee and is registered and incorpoi'ated in
England and Wales. The registered orrice 15 bet365 Hoiise. Media Way, Stoke-on-Trent. STI 5SZ, under
the ¢ompanies registered number.. 13738665 and the Chai'ity Commission IEgislered number.. 1202729.
BASIS OF P]iEPARATION
The finaiicial statemeiils have been prepared in accordance with applicable accounting Standards under the
historical convention with assets and liabilities initially recogiiised at historical cost. The financial
statements have been prepared in accordance with the re¢ommcndation5 of the Stateinent of
Reeommei)ded Practice 'AccoLinting and Reporting by Cliarities,, PTcpariiig theii. accoLints in accordance
with tlie Financial Keporting Siandard applicable in tlie UK and Republic of Iicland (FRS 102) issued
October 2019, (Charities SORP FRS 102) and the Companies Act 2006. Tlie principle accounting policies
adopted in the preparation ofihe financial slat¢ments are sel out below.
The financial statements air prepared in stei'ling* which is the functional currency of the company.
Moiietary ainounls iii Iliese finaiicial statements al'e i'ounded to tl)e nearest £.
The Charity constitutes a public benefit entity as defined by FRS 102.
REPORTING PERIOD
Thc financial Statements are prepaird for the year ended 31 Mwrh 2025.
GOING CONCERN
At the time of approving the fiiiancial statements, the Trustees liave 8n expectation tliat tlic chai'ity lias
adequate resources to contiiiue in operational exislenee for the foreseeable futur¢. T])¢ TTUStees Iiave
PIEpared foi'ecasts which indicate that the level of donations, together with Iheii. assoeialed gift aid claims.
will be suificient to cover charitable expenditure for at least 12 months from the date of signing the
accounts. Thus, the Ti'ustees continue to adopt the going concern basis of accounting in pitpai'iiig Ihc
financial statements.
INCOME
All in¢ome is recognised once the charity has enlillement to the income, there is sufficient certainty of
¢eipt and so il is probable that the incoille will be received, and the aTnount of income receivable can be
m¢asiired Irliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or consti'iiclive obli¥ation cominitting
the charity to that expenditure, it is probable that settlement will be reqLiiird, and Ihc ainount of the
obligation can be measured reliably. All expenditure is accounted foi. on an accruals ba515. Irrecoyerable
VAT is charged as a cost against the activity for which the ¢xpenditure was incurred.
GRANTS
Grants payable ale payments made to third parties (i.e. Staffordshire University) in the furth¢raDc¢ of the
charitable objectives of the Charity. Gi'ants are accoiinted for when Ihejr is a Icgal or consti'uctive
obligation to the recipient and thal any condition attaching to the grant is outside of the control of t]ie
Charity. Piovisions for grants are made when the intention to Inake a grant has been cominunicated to the
recipient but there is uncertainty about either the tiinii)g of Ihe grant oi. the amount of grant payable.
Costs of charitable activities include grants made which are shown in not¢ 4.
Pagell

Peter Coates Foundation
ACCOUNTING POLICIES
GOVERNANCE COSTS
Goveriiancc costs air rclated lo the gov¢i'nance of tlie charityy such as the costs of preparing the financial
slaleineiils and statuloi'y compliance.
TAXATION
Tlie coinpaiiy is exempt from iiicome tax under section Part I l of the Corporation Tax Act 2010.
No tax charges have ai'isen in the Charity.
FUND AccouKfiNG
The uniesti'icted fund coinpi'ises those fLinds which the Trustees are free to Lise in accordance with tl)e
charitable objectives. All funds Iield by the Charity are unrestricted. There are no restriLted oi. designat¢d
funds.
FINANCIAL INSTRUMENTS
The tTUSt only has financial assets and liabilities of a kind that qiialify as basic financial instruments. Ba51C
financial instruinents are initially recognised at transaction value and subsequently measured at amolti￿d
cost using the efrective interest method.
Cash ai b47nk and ipl hand
Cash at ballk and in haT)d includes cash only.
Crediloi's
Creditors are recognised wheiE the Folindation has a present obligation resulting from a past ev¢nt that will
probably resLIIt in tlie transfer of fiinds to a third party and the amount due to settle the obligalion can be
measulEd or estimated reliably. Creditols are normally I'eeognised at their settleinenl amount.
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
In the application of the eharity's accounting policies, the trustees are required lo make judgemenls,
estimates and assumptions about the earrying amount of assets and liabilities that are not readily apparcnt
from othei. sources. The estimates and associated assumptions al'e based on historical experienc¢ and other
factors tliat are considered to be relevant. Actiial results Inay diffei. from ihese eslimates.
The ¢stimates and underlying assumptions ure IEviewed on an on-goiiig basi5. Revisions to accolinting
¢stimates are recognised in the period in which the e%timale is revised wheir the revision affects only that
pcriod, or in the p¢i'iod of the r¢viEion and fuluir periods wliere Ilie Irvision affccts botl) cuirent ai)d fllture
periods.
Aeei'£ied incoine i'ecognilio
On 17th June 2022, confirmation was given by the related party donor of his commitment to doiiatc at Icast
£4,000,000 to the Foundation if they acliieved eharitable status, which was achieved on the 14 April 2023.
Taking account of tlie £1,725,000 already received, at the end of the financial year thei'e wer¢ £2,275,000
(2024.. £3,025,000) of committed donations diie lo the charity. The trllste¢s have taken Il)e jiidgeinent that
they were entitled to these donations on the basis that full entitlement was met when chai'ilable statiis was
obtained, following the verbal agi'eement. Given that the related party donor is a founder membcr of thc
charity, and as reeeipt is probable and rneasurable, the income has been accrlied within the accounts.
Page 12

Peter Coates Foundation
NOTFS TO THE FtNANCIAL s'fATEMENTS
for Ihe year ended 31 Mai'ch 2025
EMPLOYEES
The average tnonthly numbei. of persons (including Trustees) employed by the charitable Foundation
during the year was nil {2024'. nil)-
2 DONATIONS
Unrestricted
fiinds
Year ended
Marcli 2025
TotAI
Year ended
2025
Unr¢stricled
funds
Year ended
March 2024
Total
Ycar ended
2024
I)onation5 from loan conveJEions
Donations
Gift aid
475,000
3,525,000
243,750
475,000
3,525,000
243,750
187,500
187,500
187,500
187,51KI
4.243.750
4,243,750
Page 13

Peter Coates Foundation
NOTES TO THE FtNANCIAL S-L'ATEMENTS
foi. the yeai. ended 31 March 2025
3 TOTAL EXPENDII"URE
Unrestricted
fun(Is
Year ended
areh 2025
Total
Year ended
2025
Unreslricted
funds
Year ended
March 2024
Total
Year cnded
2024
Diircl costs (iiote 4)
Support costs
Govemance cost (note 5)
501,408
92J61
60,514
501,408
92,361
60,514
590,483
94,204
109,680
590.483
94,204
109,680
654,283
654,283
794.367
794,367
2025
2024
Management fe¢s
Insurance
Compiiter running costs
Sundiy
Bank charges
90,960
1,086
72
200
43
92,232
1,086
538
279
69
92,361
94,204
Unrestrieted
Funds
Unirstricted
Funds
Year ended
2025
Year ¢ndcd
2024
Fees payable to RSM UK Audit LLP
and RSM UK Tax aiid Accounting
limited..
Fees for Statutoiy Audit of accounts
Fees foT iion-audit services
24,000
6,167
38,122
38,122
30.167
Page 14

Peter Coates Foundation
NOTF.S TO"fHF fiNANCIAL STATEMENTS
for the yeai. end¢d 31 Mai'cli 2025
4 ANALYSIS or DIRECTCOSTS
2025
2024
Educatioiial Grants
Growth Grants
Management of bursary progJ2m
253,000
loo,000
148,408
440.000
150,483
$01,408
590,483
2025
2024
During the period donations have been made ¢ovci'ing thr following key areas of activity..
Education
Relief of need due to financial hardship
Relief of unemployment
253,000
60,000
40,000
440.000
353,000
440,000
2025
2024
Grants made during the period between institutions are as follows..
StaffordshilE University (Niimber of grants-
253,000
440,000
253,000
440,000
Tolal Grant funding ¢oinmitted at the year-end was £1,028,500 (2024-. £775.500)- This covers full tuition fees
for 94 students. including 31 Studeiit5 Ill the first cohort, 40 students in the second cohort and 23 students in tl)¢
IhiiLI cohoit. All wants are payable to Staffordshire University. wilh no amoui)ts yel paid.
Page 15

Peter Coates Foundation
NOTES TO THE FINANCIAL STATEMENTS
foi. the ye￿- ended 31 Mai'ch 2025
GOVERNANCE COSTS
Ye#rended
2025
Year ended
2024
Ac¢ountan¢y fees
Aiidil f¢es
Legal and professional fees
30,052
8,070
22,392
6,167
24.000
79,513
60,514
109,680
TRUSTEES
No Trustees received remuneration, expenses or pellsi0i1 benefits in eitl)er year.
DEBTORS
2025
2024
Prcpayment5
Donations receivable
Othei. debtors
1,086
2,275,000
1,086
3,025,000
243,750
2,276,086
3,269,836
Wliile no fO￿la] titneline ha5 been agreed on payment of the donations. the donor has confirmed that
funds will be Jnade available a5 needed to fund expected outflows.
CREDITORS- Amounts falling due within one year
2025
2024
Trade creditors
Accruals
Granl accruals
Other creditors
140,426
13,514
1,028,500
5,200
55,588
92.868
775,500
5,200
1,187,640
929.156
Page 16

Peter Coates Foundation
NOTES 'fo THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
9 MOVEMENT IN UNRESTRICTED FUNDS
2025
Balaiice at the
end of the
perind
Balanc¢ at stsrt
of yeai.
Incoming
resouires
Resources
expended
Unrestricted Funds
2,616,924
190,329
654,283
2,152,970
TOTAL FUNDS
2,616,924
190.329
654,283
2,152,970
2024
Balance at start
of year
Incoining
resources
Resou]res Balance at the
expended
end of the
period
Unreslri¢led Funds
(832.459)
4,243.750
{794.367)
2,616,924
TOTAL FUNDS
(832.459)
4.243,750
(794,367)
2.616,924
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
fund5 2025
Unrestricted
funds 2024
Curreiil &%sets
Current liabilities
3,340,610
(1,187,640)
3,546.080
(929,156)
2,152,970
2,616.924
Page 17

Peter Coates Foundation
NO'I"ES 'fo 'i"HE blNANCIAL STATEMENTS
foi. the year ended J l March 2025
I I MEMBERS, LIABILITY
T])e coinpany is limited by guaTantee. not having a shaiE capital and con5equcntly the liability of
membe1% is limited, subjcct to undcitaking by each membei. lo contribute lo the net assets oi. liabililies of
the company on winding up such amoLints as may be required, not exrediiig £1.
12 TRUSTEE TRANSACTIONS
In the prior year, the TTUSlees waived the right to IEpayment of tl)e loans of £475,000 and so the loans
were converted lo donations. These Iocins were interest fire, with no fixed terni, prior to their
¢onv¢tsioii. t)UTing the year, the Trustee made a donatioii of £750,000 (2024.. £500,000). At tlie y¢ar
end, the Ti'usltt had coininittcd to a further £2,275,000 {2024'. £3,025,1)00) of donations, and th¢se are
included in donations receivable.
Ai the period end £5,200 (2024.. £5,200) was due lo the TrusleelDireclor.
13 TAXATION
The Charity 15 exetnpt from tax on income and gains under sectioi)s 466 to 493 of the Cotyoi?lion Tax
Act 2010 to the extent that these are applied lo lis cha]'ilable objects.
14 RECONCILIATION OF NEI. EXPENDITURE I(INCOME} TO CASH FLOW FROM
OPERATING ACTIVII'IES
2025
2024
NET {EXPENDITURE)I INCOME FOR THE REPORTING YEAR
Decreasel (iiicrease} in debtors
InciEase in creditors
(463,954)
993,750
258,484
3,449,383
(3,269,836)
19,924
Net cash pmvided by opcrating activities
788,280
199.471
Page 18

Peter Coates Foundation
NOTES TO THI=, FINANCIAL STA'I'EMENTS
for the ycai. cndcd 31 March 2025
15 ANAI.YSIS OF CHANGES IN NET UNRESTRICTED FUNDS
As at 31 March
2024
As at 31 March
2025
Cashflow
Non-cashflow
Cash at bank and in hand
276.244
788,280
1,064,524
16 RELATED PARTY TRANSAC'I"IONS
The Foundation IEceives support from Ihe bc1365 Group Litnited group of companies in respect of
office space and other costs including iiianagcmeiit time, but the Trustees believe that this suppoit is
not Inaterial to disclose in the period.
Page 19