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2024-12-31-accounts

Achieve Equity Foundation

Charity Registration Number 1204018

Trustees’ Report December 2024

Page
1. Legal and Administrative 2
information
2. Trustees’ Annual Report 3-5
2.1 Structure, Governance and
Management
2.2 Objectives and Activities
2.3 Public Beneft Statement
2.4 Achievements and
Performance
2.5 Financial Review (incl.
reserves policy)
2.6 Plans for Future Periods
2.7 Risk Management
3. Statement of Trustees’ 6
responsibilities
4. Statement of Financial 7
Activities (SOFA)
5. Balance Sheet 8
6. Notes to the Accounts 8
7.1. Accounting policies
7.2. Trustee remuneration and
expenses
7.3. Related party transactions
7.4. Grants to institutions
7.5. Analysis of support costs

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1. Legal and administrative information

Trustees Katy Baker Ben Kyte David Hollomby Martin Illingworth Jennifer Ford Mark Highfield Luke Bramhall Date of Settlement 18[th] July 2023 Charity Number 1204018 Principal Address Slipways 1b Pengwern Road Shrewsbury SY3 8JD Independent Examiner N/A Bankers HSBC Bank Ltd Online Banking

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2. Trustees’ Annual Report.

The trustees present their report together with the financial statements for the year ended 31[st] December 2024. The financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the Charities SORP (FRS102).

2.1 STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing document, a constitution dated 18[th] July 2023 and constitutes an incorporated charity.

Trustees

The trustees who served during the year were: Katy Baker Ben Kyte David Hollomby Martin Illingworth Jennifer Ford Mark Highfield Luke Bramhall

The power of appointing new trustees is vested in the majority of the trustees.

Risk Management

The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed such risks and are satisfied that systems are in place to mitigate their exposure to major risks.

2.2 OBJECTIVES AND ACTIVITIES

Mission: To empower disadvantaged[1] young people across the UK by providing targeted educational grants; allowing schools to foster equitable opportunities and promote positive social change.

Charitable Objects: For the public benefit to advance education of people under 18 in the UK, in particular but not exclusively by funding innovative projects designed to raise attainment of disadvantaged young people.

Objectives for the First Year of Operations:

  1. Grant Disbursement: Distribute grants to a minimum of 25 schools serving disadvantaged communities, supporting initiatives that directly enhance access to quality education and extracurricular activities.

  2. Engagement with Schools: Establish partnerships with schools in underprivileged areas, conducting needs assessments and collaborating to identify projects that align with the foundation's mission.

1 The AEF is committed to helping young people disadvantaged by poverty.

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  1. Impact Measurement: Develop a robust framework for measuring the impact of grants on learners' academic progress, engagement, and overall well-being, ensuring transparency and accountability.

  2. Outreach: In circumstances where the AEF is unlikely to distribute the minimum number of grants stated above, organise suitable outreach event(s) aimed at promoting the availability of grants to schools.

  3. Raising awareness: Accept opportunities to speak at events and meetings in order to raise awareness about educational disparities and the foundation’s efforts to support schools to eradicate these.

  4. Stakeholder Collaboration: Collaborate with local authorities, educational organisations, and other charities to amplify the foundation's reach and impact within England and Wales.

  5. Online Presence: Establish a user-friendly website and active social media channels to showcase the foundation's mission, success stories, and upcoming initiatives.

  6. Strategic Planning: Begin the development of a long-term strategic plan, outlining the foundation's goals, expansion strategies, and areas of focus for the upcoming years.

2.3 PUBLIC BENEFIT STATEMENT

The trustees confirm they have had regard to the Charity Commission’s guidance on public benefit. The charity’s work in funding schools and promoting equity in education delivers clear public benefit by advancing education for disadvantaged children.

2.4 ACHIEVEMENTS AND PERFORMANCE

The trustees do not usually consider unsolicited applications unless they meet the criteria of the charity. All grants are considered by the trustees at their meetings. The trust has implemented an application process for grants and invited schools to apply for funding for innovative projects to support disadvantaged learners. The trust received 48 applications for funding, 23 in June 24 and 25 in the November 24 round. It has approved and disbursed funds to 26 schools which met the criteria for funding. The total disbursed was £34,421 to projects including early reading intervention, after school club refurbishment, breakfast club and a wildlife garden.

2.5 FINANCIAL REVIEW

Income: £80,000 Expenditure: £34,779 Net movement in funds: £45,221 Funds carried forward: £45,221

Reserves Policy for Achieve Equity Foundation

1. Purpose of this policy

The trustees of Achieve Equity Foundation recognise their duty to ensure the charity is financially sustainable and able to manage unforeseen events. This policy sets out our approach to holding and managing reserves.

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2. What are reserves?

Reserves are funds the charity has which are freely available for use, excluding:

3. Why we hold reserves

We hold reserves to:

4. Target level of reserves

The trustees have agreed to maintain reserves equivalent to 6 months of core operating costs , currently estimated at £200 plus sufficient funds to cover unexpected costs and an orderly wind-down of the charity, a total of £2500 . This figure will be reviewed annually to ensure it reflects the charity’s current commitments and risks.

5. Monitoring and review

6. Public reporting

In line with Charity Commission guidance, the trustees will explain the charity’s reserves position each year in the trustees’ annual report.

Approved by the trustees on: 6[th] Feb 2025 Next review date: February 2026

Principal sources of income: Donations.

Principal expenditure: Grant-making to schools and associated charitable activities.

2.6 PLANS FOR FUTURE PERIODS

For 2024–25 the charity intends to:

2.7 RISK MANAGEMENT

The trustees have assessed the key risks facing the charity, including funding sustainability, safeguarding grant funds, and governance capacity. Controls are in place including financial policies, independent examination, and grant monitoring procedures.

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3. Statement of trustees' responsibilities

The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income resources and application of resources of the charity for that year.

In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (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 taking reasonable steps for the prevention and detection of fraud and other irregularities.

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4. Statement of Financial Activities (SOFA)

Income Unrestricted
Funds(£)		 Restricted Funds
(£)		 Total 2025 (£)
Donations and
legacies
Charitable
activities (event
income)
Investments /
bank interest
Total Income		 20,000
60,000
80,000
0
0
0
0
0
0
20,000
60,000
80,000
Expenditure
Grant-making to
schools
Direct charitable
activities
Support costs
(governance,
admin,
professional fees)
Total Expenditure		 Unrestricted
Funds(£)		 Restricted Funds
(£)		 Total 2025 (£)
0
34,421
34,421
0
0
0
358.22
0
358.22
358.22
34,421
34,779.22

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5. Balance Sheet as at 31 December 2024

ce Sheet as at 31 December 2024
2024(£)
Fixed Assets
0
Current Assets: Cash at bank and in
hand
45,221.90
Current Assets: Debtors
0
Total Current Assets
45,221.90
Creditors: amounts falling due within
one year
0
Net Current Assets
45,221.90
Net Assets
45,221.90
Funds: Unrestricted general fund
11,305.23
Funds: Restricted funds
33,915.67
Reserves (suggested)
Total Funds
45,221.90

6. Notes to the Accounts

6.1. ACCOUNTING POLICIES

6.2. TRUSTEE REMUNERATION AND EXPENSES

No trustee received remuneration or expenses during the period.

6.3. RELATED PARTY TRANSACTIONS

None.

6.4. GRANTS TO INSTITUTIONS

During the year, 26 schools received grants totalling £34,421.

6.5. ANALYSIS OF SUPPORT COSTS

Governance and admin £358.22, comprising insurance and professional services.

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(HARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Independent Examiner's Report Report to the trustees Achieve Equity Foundation On accounts fr>r the year ended 30 September 2025 Charity no lif any) 1204018 I report lo the trustees on my examination of the accounts of the above charity I'lhe Trust I for the year ended 3010912025. Responsibilities and basis of report As the charity's Iruslees. you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 20111"the Acr'}. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act, and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material mallers have come to my attention in connection with the examination which gives me cause lo believe that in any material respect.. The accounting records were not kept in accordance with section 130 of the Charities Act., or The accounts did not accord with the accounting records., or The accounts did not comply with the applicable requirements concerning the fomi and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the accounts give a 'true and fair, view, which is not a matter considered as part of an independent examination. I have no coneerns and h8ve come across no other matters in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Signed: Date: 10 October 2025 Name: Rick van Driel Occupatlon: Director of Finance and Operations I Chief Financial Officer, All Saints, Academy, Cheltenham, Blaisdon Way, Cheltenham, Gloucestershire. GL51 OVVH Address: 2 Soulhwell Riverside Bridgnorth Shropshire, VW16 4AS IER Oct 2018