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2025-09-30-accounts

Charity Number: 1204615

A Charitable Incorporated Organisation Report of the Trustees and Financial Statements For the Year ended 30 September 2025

Contents

Reference and administrative details Page 2 Trustees' Report Pages 3-7 Statement of Financial Activities Pages 8-9 Independent Examiner report Pages 10 -21 Appendices Pages 22 - 26

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REFERENCE AND ADMINISTRATIVE DETAILS

Names of the Trustees:

Dino Myers Lamptey - Lead Trustee for 3 years Alison Owen for 4 years Genna Osler for 2 years Benjamin Major for 2 years Caroline Forbes for 2 years

TFSF Staff :

Lubeto Kalwa (Contractor 31.10.2024 to 31.10.2025) - NEET Outreach Manager

Resources volunteered from Brixton Finishing School

(See Appendix One Memoradum of Understanding)

Nadine Kafena (Volunteer Operations Manager) Ally Owen (Volunteer Fundraising/Communications)

Registered Office:

7 Bell Yard, London, WC2A 2JR, United Kingdom

Bankers:

Co-operative Bank, 1 Balloon Street, Manchester, M4 4BE

Independent examiner:

Kay Wightman - Accounting For Good 2 Geordie Ridley Place, Upper Precinct, Wesley Court, Blaydon, Tyne and Wear, NE21 5BT, UK.

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Trustee’s annual report for the year ended 30 September 2025

Structure, Governance and Management

Description of the Charity’s Trusts

Type of Governing Document: Constitution adopted on 31st July 2023

How the Charity is constituted: The Finishing School Foundation (“TFSF”) is a Charitable Incorporated Organisation whose only voting members are its charity trustees

Trustee selection method: Trustees are appointed for an initial term of between two to four years by a resolution passed at a properly convened meeting of the charity trustees.

Supporting Governance Activities:

Trustee Appointments: All Trustees give their time voluntarily. As a charity trustee, each Trustee is entitled to be reimbursed from the property of TFSF or may pay out of such property reasonable expenses properly incurred by him/ her when acting on behalf of TFSF. On appointment new Trustees receive a copy of the constitution, a copy of the latest Trustee’s Annual Report and a statement of accounts. Trustees are directed to read all TFSF’s policies, including its Decision-Making Policy.

Safeguarding: In accordance with TFSF policy all volunteers and staff must undergo Safeguarding Training to enable them to carry out activities relating to working with Young Adults.

This training is carried out on commencement of employment, or in the case of volunteers, on appointment. TFSF uses an approved service provider - the NSPCC.

Relationship between TFSF & Brixton Finishing School (Trading Name of Hoxton Finishing School CIC)

Memorandum of Understanding between TFSF & Brixton Finishing School

Objectives and activities

The objectives and activities of TFSF are in accordance with its Constitution.

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Summary of the objects of the charity set out in its governing document:

TFSF’s Constitution provides that the objects of the charity are the advancement the education and training of people [over the age of 16 years] not in education, employment or training, in subject areas relevant to a career in the media; marketing; communications and advertising industries by providing free, online and in-person, educational and skill-based courses from industry leaders.

2) The relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or toehr disadvantage by providing people (over the age of 16 years) not in education, employment or training, pastoral care and professional mentoring from industry leaders with the objective to support employment pathways and professional opportunities within the media, marketing, communications and advertising industries.

TFSF does this by:

➢ Empowering Underrepresented Talent: Directly supporting individuals from disadvantaged, multi-ethnic, or neurodiverse backgrounds to enter the marketing, advertising, and creative industries. ➢ Supporting NEET Youth: Providing targeted support to young people not in education, employment, or training to break the cycle of unemployment and unlock their potential.

➢ "Work Ready" Skill Development: Offering free, high-quality, industry-partnered programmes to develop practical skills, confidence, and professional behaviors, transforming raw talent into industryready candidates through the TFSF relationship with BFS (See MOU Appendix One).

➢ Breaking Down Financial Barriers: Providing direct financial support, such as bursaries for living costs, travel expenses for interviews, and assistance with accommodation to enable participation in training.

➢ Providing Pastoral and Personal Support: Offering mentoring, mental wellness support, and neurodiversity assistance to help young people overcome personal, social, and professional challenges.

➢ Building an Equitable Industry Pipeline: Creating a diverse, inclusive, and accessible "super highway" into creative sectors to improve industry representation.

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Summary of the main activities undertaken for the public benefit in relation to these objects

1. NEET Outreach 2024/25

In 2024 The Finishing School Foundation employed Lubeto Kalwa who served as NEET Outreach Manager for TFSF from 31.10.2024 to 31.10.2025

Lubeto had 10 years of expertise in empowering young people, including tenure at the Kings’ Trust and YouthBuild.

TFSF’s investment into NEET Outreach had a positive uplift on NEET applications to Brixton Finishing School (BFS) Free Courses for this traditionally hard to engage demographic.

NEET Status applications to ALL Brixton Finishing School programmes (ADcademy & Summer School)

This represents an uplift of 306 applications year on year (59.9%)

NEET Status Applications to Brixton Finishing School’s flagship Summer School

TFSF investment into NEET outreach has created a year on year uplift in NEET Status applications

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This represents an uplift of 296 applications year on year (+91.9%).

ALL deserve practical help to support their journey into a meaningful career and The Finishing School Foundation delivers advantage through outreach and practical and pastoral support.

TFSF NEET Status Outreach is connecting with talent from communities most at risk of NEET status.

Young people from communities who traditionally face more structural and societal challenges due to ethnicity or class are the focus of BFS free courses.

These talents are also more likely to be of NEET Status due to a combination of societal factors. Ethnic Discrimination presents the biggest barrier for young people entering work, with 3 in 10 ethnically diverse NEET young people citing this as their biggest barrier.

There are significant disparities between NEET levels by racial group. For example Black Caribbean young people are twice as likely as White British young people to be of NEET Status.

TFSF upweights activity to those most of risk at NEET Status, to reflect Summer School’s target metric of 80% Global Majority (60% Black Heritage) and 20% White Socially Mobile.

TFSF Outreach Activites 24/25

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GRANTS and PRACTICAL SUPPORT

The Finishing School Foundation, as per its memorandum of understanding with Brixton Finishing School (Appendix One), opened applications for talent of NEET status to apply for living cost grants (bursaries) while they attended ‘Summer School’.

The bursaries were to relieve financial hardship and support basic expenditure while qualifying individuals were on the free course.

TFSF followed the agreed Bursary Process (Appendix Two).

TFSF received 21 initial applications and following the Bursary Process the TFSF Trustees agreed to distribute ten living cost grants of between £250 and £700 each. In total £6,050 was distributed in the form of bursaries.

Outcome: 100% of TFSF Busary Recipients completed Summer School.

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Testimonial from Dimple, recipient of TFSF Bursary

“Straight out of A-Levels, my priority was finding a job to support my family - a responsibility that influenced every decision I made.

Receiving the bursary allowed me to prioritise my growth and fully immerse myself in the summer school experience, where I could dedicate all of my time and energy to learning, engaging with the briefs, and connecting with industry professionals. I didn’t have to worry about covering basic expenses, which helped ease the constant pressure to find work and positively supported my mental health.

It provided me with the stability I needed to focus on building a strong Foundation for my future”

Testimonial from Stephanie, recipient of TFSF bursary

“Receiving the bursary from TFSF was immensely helpful during my time at Brixton Finishing School. It supported my commute to different agencies and gave me the opportunity to attend social events and networking events that I would otherwise had to decline due to financial constraints.

The bursary gave me the flexibility to focus on the task in hand… I’m truely grateful to TFSF for considering my needs and supporting me during this time’

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Financial review

The assets of TFSF as of the 30th September 2025 consisted of £41,488 cash at bank and tangible fixed assets of £0. Creditors falling due within one year was £3,132.

The balance of funds at the end of the year was as follows:

Unrestricted funds Unrestricted £38,356 Designated £0 Total designated funds £0 Restricted funds £0

Reserve policy

TFSF’s reserves policy is to maintain a reserve which is sufficient to cover the estimated costs of carrying out its committed expenditure in the advancement of the education and training of people [over the age of 16 years] not in education, employment or training, for a period of two months.

Risk statement

TFSF trustees in producing the annual accounts have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks. The trustees acknowledge that they have an ongoing responsibility to identify and manage the risks faced by the charity, and have sought to discharge this responsibility by:

(a) preparing a risk register which identifies the main risks to the charity and itemises the actions to be taken to mitigate each of those risks, and

(b) trustees regularly reviewing the risk register at closed board meetings of the charity.

The main financial risk to the charity is loss of funding from The Trade Desk and

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companies within the Marketing, Advertising and Technology industries.

Public benefit statement

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

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Statement of Trustees' Responsibilities

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

a) select suitable accounting policies and apply them consistently;

b) observe the methods and principles in the Charities SORP;

c) make judgments and accounting estimates that are reasonable and prudent;

d) state whether applicable UK accounting standards have been followed, subject to any material departures d&sclosed and explained in the financial statements;

e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board of trustees and authorised for issue on 24 March 2026

and are signed on behalf of the board by:

24 Mar 2026, 23:06:17 UTC

Dino Myers-Lamptey

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Lead Trustee

____ 24 Mar 2026, 19:21:04 UTC

Ally Owen Trustee

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The Finishing School Foundation Independent Examiners Report Independent Examlnert Report to Ihe trustees of The Finishing School Foundation I report to the trustees on my examination ol the financial slatem8nts of The Finishing School Foundation lor the year ended 30 September 2025. Respotksibilities and basis of report As the charity's Irustees you are responslble tor the preparallon ol the flnan¢lal statements In accordance with the requirernents ol the Chaiities Act 20111.the Act'l. I report In respect of my examlnatlon ol the ¢harity* financial statemenls carried out under sectlon 145 of the 2011 Act and in carrying out my examinalion I have followed all the applicable Directions oiven by the Charity Commission under section 14515llbl ol the Acl. IndepeTrdent examiner's statement I have cornpleled my examlnatlon. I can conlirm that no materlal matters have come to my altenllon In connection with the examirbalion giving me cause lo believe that in any material respect.. the accountlno records were not kept In respecl of the charlty as reoulred by se¢llon 130 01 the Act. or the financial statements do Trot accord with Ihose records- or • the financial statements do not comply with the applicable requlrements concerning the fomi and content ol financial statements set out in the Charities IAccounts and Reportsl Regulations 2008 other than any requirement that the financial statements give a Irue and faiff view which is not a matter consldered as part ol an Independenl examlnatlon. I have no concerns and have tome across no other matters in connection with the examinalion to whlch attentlon should be drawn In thls report In order to enable a proper undethandlno ol Ihe Ilnanclal staternenls to be reached. Kay Wiohtman FFA FTA Accounting lof Good CIC 2 Geordie Ridley Place Upper Pretincl Wesley Court Blaydon on Tyne Tyne and Wear NE2158T 09 February 2026 15

The Finishing School Foundation Statement ol Financial Activities for the year ended 30 September 2025 Unrestrlcted funds Total funds Total funds 2025 2025 2024 Notes Income and endowments trom.. Donations and legacies Other trading actiwties 82,439 5,123 82,439 5,123 lo,￿10 Total 87,562 87,562 lo.￿0 Expenditure on= Raising funds Charitable activities Other 40,883 5.040 46,207 40,883 5.040 46,207 8,104 4.895 12,999 Total Net gains on investments Nel incomellexpenditurel Transfers between funds 41.355 41.355 12,9991 Net incomellexpendilurel before other uainslllossesl 41.355 41,355 12,9991 Other oains and losses Nel movemenl in funds 41.355 41.355 12.9991 Reconciliation ol funds- Total funds brought forward 12,9991 12,9391 Total funds carried forward 38.356 38.356 12,9991 16

The Finishing School Foundation Balancé Sheet at 30 Seplember 2025 Charlty No. 1204615 2025 2024 Current assets Cash at bank and in hand 41.488 41.488 13.1321 38.356 38.356 38.356 1.795 1.795 14.7941 12.9991 12.9991 12.9991 12,9991 Creditors.. Amount falling dve within one year Net curTènt asselsllliabililiesi Total assets less current liabilities 10 Net assetsllliabilitiesl excluding pension asset or liability Total net assetsllliabilitiesl 38.356 The tunds of Ihe charity Restricted funds Uniestrlcled funds General funds 11 11 38,356 38.356 12,9991 12,9991 Reserves 11 Total funds 38.356 12,9991 Approved by the trustees on 09 February 2026 And slgned on theli behalf by= A. Owen Trustee 09 February 2026 17

The Finlshlno School Foundatlon Notes lo the Accounts for the year ended 30 September 2025 1 Accounting policie5 Basis of preparation The financial slatemenls have been prepared in a¢cordance with Statement ol Recommended Pfaclice: Accounting and Reporting by Charilies preparing their accounts in accordance with the Financlal Reporting Slandard applicable In the UK and Republic if Ireland IFRS 1021 Issued on 16 luly 2014 and the Flnancial Reporting Standard applicable in the Unlted ￿'ngdOM and Republlc ol Iieland IFRS 1021 and the Charitles Act 2011. Change in basis ol accounting 01 to PTeviou5 accounts There has been no change lo the accollnling policies (valuation rules and method ol accountittgl since last year and no changes have been made to accounts for previous years. Fund accounting Unreslrltted funds These are available for use at the discretion ot the trustees in furtherance of the general oblects ot Ihe charity. These are uniestrlcled lunds eamiarked by the Irustees lor partlcular purposes. These are uniestricled lunds which Include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to Testrictions imposed by the donor or through terms ol an appeal. Designated funds Revaluation funds Restricted funds Income Recoonitlon of Income Income Is Included in the Statement ol Financlal Actfvities ISOFAI when Ihe charity becomes entitled to. and vlrtually certain lo reteive. the Income and the amount of the Income can be measured wilh sulllcient rellabllity. Income with related Where income has related expendilure the Income and ￿lated expenditure Is expendllure reported grok in the SOF Donations and legacies Voluntary income received by way ol grants. donations and gills is included in the Ihe SOFA when receNable and onty when Ihe Charity has uTr¢oThditional entitlement to the income. T&x reclalms on Income from t&x reclaims i% Included in the SOFA at the same time as the donallons and gtfts glftldonatlon to which It relales. Donated seNl¢es These are only included In Income Iwllh an equtvalent amount In expendlturel and lacllities where the benelil to the Charity Is reasonably quantifiable. measurable and material. Volunteer help The value ol any volunteer help received 15 not included in the accounts. Investrnent incotrte This i8 included in the accounts when receivable. Gainslllossesl on This includes any gain or loss resulting from revaluing investments to tnarket value revaluation ol fixed al the end ot Ihe year. assels Gainslllossesl on Investment assets This Includes any oaln or loss on the sale of Investments. 18

The Flnlshlng School Foundatlon Noles to the Accounts Expenditure Recognltlon ol expendlluie Expendllure ts fecognlsed on an acciuals basis. Expenditure includes any VAT whlch eannot be lulty recovered. and is reported as part ol the expendlture ID whlch11 relates. Expenditure on These tomprlse the costs assotiated with attiactlng volunlary Income, lundialslno ralsing lunds trading costs and investfflent management cost5. Expenditure on These comprise the costs incurred by the Charity in the delivery ol Its acllvlli8s and chaiitable activities services in the furtherance of its objects. including the making ol grants and governance costs. All grant expenditure is accounted lor on an actual paid basis plus an accrual fof grants that have been approved by the trustees at the end of the year bul not yet paid. These include those costs associaled with meeling Ihe constitutional and slalutory requirements of the Charity. including any audillindependent examination tees. costs linked to the stralegic management ot the Charity, logelher wlth a share ol other administration cosls. Other expendlture These are support costs not allocated to a particular actlvlty. Grants payable Governance cosls Taxation The charity is exempt from tax on its charitable activitie& Freehold investment property Investment properties are measured initialty at cost and subsequentty at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial ActNities as they arise. Stocks Stock Is Included al the lower of cost or net reallsable value. Donated items of slock are recognlsed al falr value whlch is Ihe amount the chatity would have been willing to pay lor the items on the open maiket. Trade and other debtors Trade and other debtors are recognlsed at the selllement amount due after aTry trade dlscount offered. Prepayments are valued at the amount prepald net of any Irade dlscounts due. Cash and Cash eoulvalents Cash and cash equivalents comprise Cash al bank and on hand. demand deposits with banks and other short-lerm highty liquid Investments wilh original maturities of three months or le&s and bank overdrafts. In the statement ol financial position. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows. cash and cash equIv￿entS are shown net ot bank overdrafts that are repayable on demand and form an integral part of the company* cash management. Trade and other credilors Short lemi ¢redilors are measured at the Iransaclion price. Other credilors and provisions are recoonised where the charfty has a presenl obligalion resulting trom a pa$1 event that will probably result In the transfer ol funds to a Ihird party and the amount due to sellle the obllgation can be measured or eslimated reliabty. Creditors and provlslons are nomally recognised at their settlemenl amount after allowlTro for any trade dlscounts due. 19

The Flnlshlng School Foundatlon Noles lo the Accounts Research and development Expenditure on research and development Is wrftten oll In the year In whlch It Is Incurred. Foreign currencles Monetary assets and liabilities denominated in currencies other than the functional currency ol the charity are translated at the rates ol exchange prevailing at the end ol the reporting period. TraTrsaclioTrs in ctjrrencies olher than the functional currency ol Ihe ¢harity are re¢orded al the rale of exchange OTr the date that the transaction occurred. All exchange dillerences are are taken into account in arrivino al nel incomelexpenditure. Leased assets Where the charity enters into a lease which entalls taking substantialty all the rlsks and rewards ol ownership of an asset. the lease is treated as a finance lease. Leases which do not transfer substantialty all the iisks and rewards of ownership to charity arè classifi8d as operating leases. Assets held under financ8 leases are initially recogni%ed as assets ol the charity at their falr value at the inception ol the lease or, if lower. at the present value ol the minimum lease payments. The coriesponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction ol the lease oblioation so as lo achieve a constant rate ol interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directty allributable to qualifying assets, in which case they are ¢apitalised in accordance wilh Ihe charitys policy on borrowing costs. Assets held under finance leases are depreclaled in the same way a$ owned assets. Opèiating lease payments are re¢ognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases. such incentives ale recognised as a liability- The aggregate benefit ol incentives is recognised as a reduction of rental expense on a straight-line basis. Pension cosls The charily operates a defined contribulion plan for its employees. A defined conlribulion plan Ss a penslon plan under which the charfty pays fixed contributlons into a separate enlity. Once the contribullons have been pald the charlty has no further payments obllgations. The contrlbutlons are recognised as expenses when they tall due. Amounts nol paid are shown In accruaLs in the balance sheet. The assets ol the plan are held Sepa￿telY from the Charlty in independently administered funds. Receipt ol donated goods. lacililies and services All donated goods. lacllitles and servlces recelved are recognlsed wlthln Incomlng resources and expendlluie at an estimate ot the value lo Ihe charity. 20

The Finishing School Foundation Notes to the Accounts 2 Statement ol Financial Activities- prior year Unr85tricted funds Total funds 2024 2024 Income and endowments from: Donations and legacies Tolal 10.000 10.000 10,000 10,000 Expendlture on.. Chadtable actlvltles Other 8,104 4.895 8,104 4,895 Tolal 12,999 12,999 Nèt intome 12,9991 12,9991 Nel income before other gainslllo$sesl Other galns and losses= Net movement in funds 12,9931 12,9991 12,gstyl 12,9991 Reconciliation ol funds: Tolal funds carrled fon¥ard 12,9991 12,9991 3 Income from donallons and legacies Unrestricted Total 2025 Total 2024 Donations 82,439 82,439 82,439 82.439 10,000 10,000 4 Income from other tradino activities Unrestricted Total 2025 Total 2024 Fundraising Events 5,123 5.123 5.123 5,123 5 Expendlture on ralslno tunds Unrestricted Total 2025 Total 2024 Fundralslng tradlno costs Fundraising Events 284 284

The Finishing School Foundatlon Notes to the Accounts 6 Expenditure on charitable activities Unrestricted Total 2025 Total 2024 Expenditure on charttable activities Delivery Staff Grants made Governance costs 34.833 6,050 34,833 6,050 8,104 40,883 40,883 8.104 7 Analysis ol grants Grants to Individuals Aclivity or programme Total 2025 Total 2024 Bursaries 6,050 6,050 6,050 6.050 8.104 8.104 Grant funding ot activities Activity or programme Total 2025 Total 2024 Bursaries 6,050 6,050 6,050 6.050 8,104 8.104 8 Other expenditure Unrestricted Total 2025 Total 2024 General administrative costs Legal and professional costs 1,915 3,125 5,040 1,915 3.125 5,040 4,895 4,895 9 Staff costs No employee recelved emoluments In excess of £60.000. 10 Creditors.. amounts falling due within one year 2025 2024 Trade creditors Other taxes and soclal securlty Accruals 56 2,046 1,030 3,132 4,7g4 4,794

The Finishing School Foundation Notes lo the Accounts 11 Movement In funds Incominq resources (including other At 1 October gainsllosses 2024 Resources expended A130 September 2025 Restricted funds.. Unrestricted funds.. General funds 12.9991 87,562 146,2071 38,356 Total funds 12 Analysis of net assets between funds 12.gggi 87,562 146.2071 38,356 Unrestricted funds Total Nel current assets 38,356 38.356 38,356 38,356 13 Reconciliation of net debt A130 September 2025 At 1 O¢tober 2024 Cash flows Cash and cash equivalents 1,795 1,795 39.693 39,693 41,488 41,488 Nel debt 1.795 39.693 41,488 23

The Flnlshlno Sehool Foundatlon Stalement ot Cash flows for the year ended 30 September 2025 2025 2024 Cash flows from operatino activities Net inEomellexpenditurel per Statement ol Financial Activities 41,355 12,9991 Adjustments for.. IDecreasel/lncrease In trade and other payables 11,6621 4.794 Net cash provided by operatino activities 39,693 1,795 Net cash from investing activities Net cash from tinancinp activities Net inErease in cash and cash equNalents 39.693 1.795 Cash and cash equivalents at Ihe beginning of the year 1.795 Cash and cash equlvalents al Ihe end ol the year 41.488 1.795 Components of cash and cash equivalents Cash and bank balances 41,488 1,795 41.488 1.795 24

The Finishing School Foundalion Detailed Statement ot Financial Activities tor the year ended 30 September 2025 Unrestritled funds Total funds Total funds 2025 2025 2024 Income and endowments from= Donations and legacies Donations 82.439 82.439 82.439 82.439 10.000 10.000 Other trading activities Fundralslng Events 5,123 5.123 5,123 5.123 Total income and endowments 87.562 87.562 10.000 Expenditure on.. Costs ol olher trading activilies Fundraising Events Total ol expenditure on raislng lunds Charitable actiwties Delivery Staff Granls made 34.833 6.050 40,883 34.833 6,050 40,883 8,104 8,104 Total ol expenditure on charllable activities 40.883 40.883 8,104 General administrative costs. including deprecialion and amortisation Bank charges General Insurances Software. IT support and ielated costs Sundry expenses 410 914 410 914 1,804 345 345 101 246 1.915 246 1,915 2.990 4,8g5 Legal aTrd professional costs Audilllndependent examination lees Consultancy lees 1,030 1.030 2.095 3,125 2.095 3.125 5.040 Total ol expenditure of other costs Tolal expenditure Net galns on Investments 5.040 4.895 46.207 46.207 12.999

The Finishinu Sthool Foundation Detailed Statement of Financial Activities Net incomellexpendilure) 41,355 41,355 12.9991 Net incomellexpenditurel before other galnslllossesl Other Galns 41.355 41.355 12,9991 Net movefflent in funds 41.355 41.355 12.9991 Reconciliation of fund5'. Total funds brought lon¥ard 12.9991 12.9991 Total funds carried forward 38.356 38.356 12.9991 26

Appendices

Appendix One - Copy of Memorandum of Understanding between The Finishing School Foundation (TFSF) and Brixton Finishing School (BFS)

Memorandum of Understanding (MoU)

Between: Brixton Finishing School (hereafter referred to as the "Social Enterprise"),, and The Finishing School Foundation (hereafter referred to as the "Charity")

1. Purpose

The purpose of this Memorandum of Understanding (MoU) is to outline the collaborative relationship between the Social Enterprise and the Charity. Both entities share a common mission to [insert shared mission, e.g., "support underrepresented individuals through training, employment opportunities, and holistic development"]. This MoU establishes the framework for cooperation while maintaining the independence and distinct legal responsibilities of both parties.

2. Objectives

The key objectives of this partnership are:

  1. To leverage the strengths of each organisation in achieving shared goals.

  2. To facilitate the flow of resources and knowledge to maximise impact.

  3. To ensure transparency, accountability, and compliance with respective legal obligations.

3. Roles and Responsibilities

Social Enterprise:

● Generate revenue through [specific activities, e.g., selling products/services] and reinvest a percentage of profits into charitable purposes.

● Provide operational or programmatic support as agreed with the Charity (e.g., training delivery, employment opportunities).

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Charity:

4. Financial Arrangements

  1. The Social Enterprise agrees to donate [percentage or fixed amount] of its annual profits to the Charity. These funds must be used exclusively for purposes aligned with the Charity’s objectives.

  2. The Charity may contract the Social Enterprise to deliver specific services or projects. Terms of such contracts will be agreed upon separately.

  3. Cost-sharing arrangements for shared resources (e.g., office space, technology, or personnel) will be documented in a separate agreement.

5. Governance

● Both parties will maintain distinct governance structures, including independent boards of directors/trustees, in compliance with their respective legal obligations.

● Joint activities will be overseen by a Partnership Committee, consisting of representatives from both organisations, which will meet quarterly to review progress and address any issues.

6. Communication and Branding

● The Social Enterprise and the Charity will collaborate on joint branding and messaging for shared initiatives, ensuring clarity for beneficiaries, funders, and stakeholders.

● Public communication about the partnership must be agreed upon by both parties to maintain consistency and avoid confusion.

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7. Monitoring and Evaluation

8. Data Sharing Policy

Purpose

This Data Sharing Policy outlines how Brixton Finishing School (the "Social Enterprise") and The Finishing School Foundation (the "Charity") will share data responsibly and in compliance with the UK General Data Protection Regulation (GDPR) and other applicable laws.

Principles

  1. Lawfulness, Fairness, and Transparency: Data will only be shared in a lawful and transparent manner, ensuring that individuals are informed of how their data is used.

  2. Purpose Limitation: Data will be shared only for specific, explicit, and legitimate purposes that align with the objectives of both organisations.

  3. Data Minimisation: Only the data necessary to achieve the stated purpose will be shared.

  4. Accuracy: Both parties will ensure the accuracy of shared data and update it as necessary.

  5. Storage Limitation: Data will be retained only as long as necessary for the purposes for which it is shared.

  6. Integrity and Confidentiality: Data will be handled securely to prevent unauthorized access, loss, or damage.

Types of Data Shared

The following categories of data may be shared between the Social Enterprise and the Charity:

Responsibilities of Each Party

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  1. Social Enterprise:

  2. Ensure all shared data is obtained and processed in compliance with GDPR.

  3. Provide data only for the agreed-upon purposes.

  4. Implement security measures to protect data during transfer.

  5. Charity:

  6. Use shared data solely for the agreed purposes.

  7. Maintain the confidentiality and security of shared data.

  8. Notify the Social Enterprise promptly in the event of a data breach.

Data Subject Rights

Both organisations will uphold individuals' rights under GDPR, including:

Legal Basis for Data Sharing

Data sharing will be conducted on the basis of legitimate interests or other applicable legal grounds, ensuring compliance with GDPR.

Data Sharing Agreements

A detailed Data Sharing Agreement (DSA) will be established, outlining:

Review and Monitoring

This policy will be reviewed annually or as required to ensure continued compliance with GDPR and other legal requirements.

  1. Duration and Termination

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10. Legal Status

31

Appendix Two: TFSF Summer School Bursary Process

TFSF Summer School Bursary Process

1. Applications Open:

2. They Apply:

documents:

why they need the bursary and how it will benefit them

3. Staff Review Applications:

32

4. Decision Time:

5. Board Verification:

added to their Salesforce account.

33

directed to alternative financial aid options (if available).

method.

34

The Finishing School Foundation

Charity No. 1204615

Trustees' Report and Unaudited Accounts

30 September 2025

The Finishing School Foundation Contents

Pages
Trustees' Annual Report 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Statement of Cash flows 12
Notes to the Accounts 6 to 11
Detailed Statement of Financial Activities 13 to 14

Page 1

The Finishing School Foundation Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 30 September 2025.

REFERENCEAND ADMINISTRATIVEDETAILS

Charity No. 1204615

Trustees

The following trustees served during the year:

C. Forbes

B. Major

D. Myer-Lamptey

G. Osler

A. Owen

Accountants

Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

24 Mar 2026, 19:17:01 UTC

A. Owen Trustee 24 March 2026

Page 2

The Finishing School Foundation Independent Examiners Report

Independent Examiner's Report to the trustees of The Finishing School Foundation

I report to the trustees on my examination of the financial statements of The Finishing School Foundation for the year ended 30 September 2025.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements 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 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Kay Wightman FFA FTA Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT 24 March 2026

Page 3

The Finishing School Foundation Statement of Financial Activities

for the year ended 30 September 2025

Unrestricted
funds Total funds Total funds
2025 2025 2024
Notes £ £ £
Income and endowments
from:
Donations and legacies 3 82,439 82,439 10,000
Other trading activities 4 5,123 5,123 -
Total 87,562 87,562 10,000
Expenditure on:
Raising funds 5 284 284 -
Charitable activities 6 40,883 40,883 8,104
Other 8 5,040 5,040 4,895
Total 46,207 46,207 12,999
Net gains on investments - - -
Net income/ (expenditure) 41,355 41,355 (2,999)
Transfers between funds - - -
Net income/ (expenditure)
before other gains/ (losses)		 41,355 41,355 (2,999)
Other gains and losses
Net movement in funds 41,355 41,355 (2,999)
Reconciliation of funds:
Total funds brought forward (2,999) (2,999) -
Total funds carried forward 38,356 38,356 (2,999)

Page 4

The Finishing School Foundation Balance Sheet

at 30 September 2025

Charity No. 1204615 2025 2024
£ £
Current assets
Cash at bank and in hand 41,488 1,795
41,488 1,795
Creditors:Amount falling due within one year 10 (3,132) (4,794)
Net current assets/ (liabilities) 38,356 (2,999)
Total assets less current liabilities 38,356 (2,999)
Net assets/ (liabilities) excluding pension asset or liability 38,356 (2,999)
Total net assets/ (liabilities) 38,356 (2,999)
The funds of the charity
Restricted funds 11
Unrestricted funds 11
General funds 38,356 (2,999)
38,356 (2,999)
Reserves 11
Total funds 38,356 (2,999)
Approved by the trustees on 24 March 2026
And signed on their behalf by:

24 Mar 2026, 19:17:01 UTC A. Owen Trustee 24 March 2026

Page 5

The Finishing School Foundation Notes to the Accounts

for the year ended 30 September 2025

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UKand Republic if Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Page 6

The Finishing School Foundation Notes to the Accounts

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

The Finishing School Foundation Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

The Finishing School Foundation

Notes to the Accounts

2 Statement of Financial Activities - prior year
Unrestricted
funds Total funds
2024 2024
£ £
Income and endowments from:
Donations and legacies 10,000 10,000
Total 10,000 10,000
Expenditure on:
Charitable activities 8,104 8,104
Other 4,895 4,895
Total 12,999 12,999
**Net ** income (2,999) (2,999)
**Net ** income before other
gains/ (losses) (2,999) (2,999)
Other gains and losses:
**Net ** movement in funds (2,999) (2,999)
Reconciliation of funds:
Total funds carried forward (2,999) (2,999)
3 Income from donations and legacies
Unrestricted Total Total
2025 2024
£ £ £
Donations 82,439 82,439 10,000
82,439 82,439 10,000
4 Income from other trading activities
Unrestricted Total Total
2025 2024
£ £ £
Fundraising Events 5,123 5,123 -
5,123 5,123 -
5 Expenditure on raising funds
Unrestricted Total Total
2025 2024
£ £ £
Fundraising trading costs
Fundraising Events 284 284 -
284 284 -

Page 9

The Finishing School Foundation Notes to the Accounts

6 Expenditure on charitable activities

6 Expenditure on charitable activities
Unrestricted Total Total
2025 2024
£ £ £
Expenditure on charitable
activities
Delivery Staff 34,833 34,833 -
Grants made 6,050 6,050 8,104
Governance costs
40,883 40,883 8,104
7 Analysis of grants
Grants to
Activity or programme Individuals Total Total
2025 2024
£ £ £
Bursaries 6,050 6,050 8,104
6,050 6,050 8,104
Grant
funding of
Activity or programme activities Total Total
2025 2024
£ £ £
Bursaries 6,050 6,050 8,104
6,050 6,050 8,104
8 Other expenditure
Unrestricted Total Total
2025 2024
£ £ £
General administrative costs 1,915 1,915 4,895
Legal and professional costs 3,125 3,125 -
5,040 5,040 4,895
9 Staff costs
No employee received emoluments in excess of £60,000.
10 Creditors:
amounts falling due within one year
2025 2024
£ £
Trade creditors 56 4,794
Other taxes and social security 2,046 -
Accruals 1,030 -
3,132 4,794

Page 10

The Finishing School Foundation Notes to the Accounts

11 Movement in funds

11 Movement in funds
Incoming
At 1 October resources
(including
other
gains/ losses		 Resources
expended		 At 30
September
2025
2024 )
£ £ £
Restricted funds:
Unrestricted funds:
General funds (2,999) 87,562 (46,207) 38,356
Total funds (2,999) 87,562 (46,207) 38,356
12 Analysis of net assets between funds
Unrestricted
funds		 Total
£ £
Net current assets 38,356 38,356
38,356 38,356
13 **Reconciliation of net ** debt
At 30
At 1 October September
2024 Cash flows 2025
£ £ £
Cash and cash equivalents 1,795 39,693 41,488
1,795 39,693 41,488
Net debt 1,795 39,693 41,488

Page 11

The Finishing School Foundation Statement of Cash flows for the year ended 30 September 2025

2025 2024
£ £
Cash flows from operating activities
Net income/ (expenditure) per Statement of Financial Activities 41,355 (2,999)
Adjustments for:
(Decrease)/Increase in trade and other payables (1,662) 4,794
Net cash provided by operating activities 39,693 1,795
Net cash from investing activities - -
Net cash from financing activities - -
Net increase in cash and cash equivalents 39,693 1,795
Cash and cash equivalents at the beginning of the year 1,795 -
Cash and cash equivalents at the end of the year 41,488 1,795
Components of cash and cash equivalents
Cash and bank balances 41,488 1,795
41,488 1,795

Page 12

The Finishing School Foundation Detailed Statement of Financial Activities

for the year ended 30 September 2025

Unrestricted
funds Total funds Total funds
2025 2025 2024
£ £ £
Income and endowments from:
Donations and legacies
Donations 82,439 82,439 10,000
82,439 82,439 10,000
Other trading activities
Fundraising Events 5,123 5,123 -
5,123 5,123 -
Total income and endowments 87,562 87,562 10,000
Expenditure on:
Costs of other trading activities
Fundraising Events 284 284 -
284 284 -
Total of expenditure on raising 284 284 -
funds
Charitable activities
Delivery Staff 34,833 34,833 -
Grants made 6,050 6,050 8,104
40,883 40,883 8,104
Total of expenditure on charitable
activities		 40,883 40,883 8,104
General administrative costs,
including depreciation and
amortisation
Bank charges 410 410 -
General insurances 914 914 1,804
Software, IT support and related 345 345 101
costs
Sundry expenses 246 246 2,990
1,915 1,915 4,895
Legal and professional costs
Audit/Independent examination
fees		 1,030 1,030 -
Consultancy fees 2,095 2,095 -
3,125 3,125 -
Total of expenditure of other costs 5,040 5,040 4,895
Total expenditure 46,207 46,207 12,999
Net gains on investments - - -

Page 13

The Finishing School Foundation Detailed Statement of Financial Activities

Net income/ (expenditure) 41,355 41,355 (2,999)
Net income/ (expenditure) before
other gains/ (losses)		 41,355 41,355 (2,999)
Other Gains - - -
Net movement in funds 41,355 41,355 (2,999)
Reconciliation of funds:
Total funds brought forward (2,999) (2,999) -
Total funds carried forward 38,356 38,356 (2,999)

Page 14

The Finishing School Foundation

Charity No. 1204615

Trustees' Report and Unaudited Accounts

30 September 2025

The Finishing School Foundation Contents

Pages
Trustees' Annual Report 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Statement of Cash flows 12
Notes to the Accounts 6 to 11
Detailed Statement of Financial Activities 13 to 14

Page 1

The Finishing School Foundation Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 30 September 2025.

REFERENCEAND ADMINISTRATIVEDETAILS

Charity No. 1204615

Trustees

The following trustees served during the year:

C. Forbes

B. Major

D. Myer-Lamptey

G. Osler

A. Owen

Accountants

Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

24 Mar 2026, 19:17:01 UTC

A. Owen Trustee 24 March 2026

Page 2

The Finishing School Foundation Independent Examiners Report

Independent Examiner's Report to the trustees of The Finishing School Foundation

I report to the trustees on my examination of the financial statements of The Finishing School Foundation for the year ended 30 September 2025.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements 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 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Kay Wightman FFA FTA Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT 24 March 2026

Page 3

The Finishing School Foundation Statement of Financial Activities

for the year ended 30 September 2025

Unrestricted
funds Total funds Total funds
2025 2025 2024
Notes £ £ £
Income and endowments
from:
Donations and legacies 3 82,439 82,439 10,000
Other trading activities 4 5,123 5,123 -
Total 87,562 87,562 10,000
Expenditure on:
Raising funds 5 284 284 -
Charitable activities 6 40,883 40,883 8,104
Other 8 5,040 5,040 4,895
Total 46,207 46,207 12,999
Net gains on investments - - -
Net income/ (expenditure) 41,355 41,355 (2,999)
Transfers between funds - - -
Net income/ (expenditure)
before other gains/ (losses)		 41,355 41,355 (2,999)
Other gains and losses
Net movement in funds 41,355 41,355 (2,999)
Reconciliation of funds:
Total funds brought forward (2,999) (2,999) -
Total funds carried forward 38,356 38,356 (2,999)

Page 4

The Finishing School Foundation Balance Sheet

at 30 September 2025

Charity No. 1204615 2025 2024
£ £
Current assets
Cash at bank and in hand 41,488 1,795
41,488 1,795
Creditors:Amount falling due within one year 10 (3,132) (4,794)
Net current assets/ (liabilities) 38,356 (2,999)
Total assets less current liabilities 38,356 (2,999)
Net assets/ (liabilities) excluding pension asset or liability 38,356 (2,999)
Total net assets/ (liabilities) 38,356 (2,999)
The funds of the charity
Restricted funds 11
Unrestricted funds 11
General funds 38,356 (2,999)
38,356 (2,999)
Reserves 11
Total funds 38,356 (2,999)
Approved by the trustees on 24 March 2026
And signed on their behalf by:

24 Mar 2026, 19:17:01 UTC A. Owen Trustee 24 March 2026

Page 5

The Finishing School Foundation Notes to the Accounts

for the year ended 30 September 2025

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UKand Republic if Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Page 6

The Finishing School Foundation Notes to the Accounts

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

The Finishing School Foundation Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

The Finishing School Foundation

Notes to the Accounts

2 Statement of Financial Activities - prior year
Unrestricted
funds Total funds
2024 2024
£ £
Income and endowments from:
Donations and legacies 10,000 10,000
Total 10,000 10,000
Expenditure on:
Charitable activities 8,104 8,104
Other 4,895 4,895
Total 12,999 12,999
**Net ** income (2,999) (2,999)
**Net ** income before other
gains/ (losses) (2,999) (2,999)
Other gains and losses:
**Net ** movement in funds (2,999) (2,999)
Reconciliation of funds:
Total funds carried forward (2,999) (2,999)
3 Income from donations and legacies
Unrestricted Total Total
2025 2024
£ £ £
Donations 82,439 82,439 10,000
82,439 82,439 10,000
4 Income from other trading activities
Unrestricted Total Total
2025 2024
£ £ £
Fundraising Events 5,123 5,123 -
5,123 5,123 -
5 Expenditure on raising funds
Unrestricted Total Total
2025 2024
£ £ £
Fundraising trading costs
Fundraising Events 284 284 -
284 284 -

Page 9

The Finishing School Foundation Notes to the Accounts

6 Expenditure on charitable activities

6 Expenditure on charitable activities
Unrestricted Total Total
2025 2024
£ £ £
Expenditure on charitable
activities
Delivery Staff 34,833 34,833 -
Grants made 6,050 6,050 8,104
Governance costs
40,883 40,883 8,104
7 Analysis of grants
Grants to
Activity or programme Individuals Total Total
2025 2024
£ £ £
Bursaries 6,050 6,050 8,104
6,050 6,050 8,104
Grant
funding of
Activity or programme activities Total Total
2025 2024
£ £ £
Bursaries 6,050 6,050 8,104
6,050 6,050 8,104
8 Other expenditure
Unrestricted Total Total
2025 2024
£ £ £
General administrative costs 1,915 1,915 4,895
Legal and professional costs 3,125 3,125 -
5,040 5,040 4,895
9 Staff costs
No employee received emoluments in excess of £60,000.
10 Creditors:
amounts falling due within one year
2025 2024
£ £
Trade creditors 56 4,794
Other taxes and social security 2,046 -
Accruals 1,030 -
3,132 4,794

Page 10

The Finishing School Foundation Notes to the Accounts

11 Movement in funds

11 Movement in funds
Incoming
At 1 October resources
(including
other
gains/ losses		 Resources
expended		 At 30
September
2025
2024 )
£ £ £
Restricted funds:
Unrestricted funds:
General funds (2,999) 87,562 (46,207) 38,356
Total funds (2,999) 87,562 (46,207) 38,356
12 Analysis of net assets between funds
Unrestricted
funds		 Total
£ £
Net current assets 38,356 38,356
38,356 38,356
13 **Reconciliation of net ** debt
At 30
At 1 October September
2024 Cash flows 2025
£ £ £
Cash and cash equivalents 1,795 39,693 41,488
1,795 39,693 41,488
Net debt 1,795 39,693 41,488

Page 11

The Finishing School Foundation Statement of Cash flows for the year ended 30 September 2025

2025 2024
£ £
Cash flows from operating activities
Net income/ (expenditure) per Statement of Financial Activities 41,355 (2,999)
Adjustments for:
(Decrease)/Increase in trade and other payables (1,662) 4,794
Net cash provided by operating activities 39,693 1,795
Net cash from investing activities - -
Net cash from financing activities - -
Net increase in cash and cash equivalents 39,693 1,795
Cash and cash equivalents at the beginning of the year 1,795 -
Cash and cash equivalents at the end of the year 41,488 1,795
Components of cash and cash equivalents
Cash and bank balances 41,488 1,795
41,488 1,795

Page 12

The Finishing School Foundation Detailed Statement of Financial Activities

for the year ended 30 September 2025

Unrestricted
funds Total funds Total funds
2025 2025 2024
£ £ £
Income and endowments from:
Donations and legacies
Donations 82,439 82,439 10,000
82,439 82,439 10,000
Other trading activities
Fundraising Events 5,123 5,123 -
5,123 5,123 -
Total income and endowments 87,562 87,562 10,000
Expenditure on:
Costs of other trading activities
Fundraising Events 284 284 -
284 284 -
Total of expenditure on raising 284 284 -
funds
Charitable activities
Delivery Staff 34,833 34,833 -
Grants made 6,050 6,050 8,104
40,883 40,883 8,104
Total of expenditure on charitable
activities		 40,883 40,883 8,104
General administrative costs,
including depreciation and
amortisation
Bank charges 410 410 -
General insurances 914 914 1,804
Software, IT support and related 345 345 101
costs
Sundry expenses 246 246 2,990
1,915 1,915 4,895
Legal and professional costs
Audit/Independent examination
fees		 1,030 1,030 -
Consultancy fees 2,095 2,095 -
3,125 3,125 -
Total of expenditure of other costs 5,040 5,040 4,895
Total expenditure 46,207 46,207 12,999
Net gains on investments - - -

Page 13

The Finishing School Foundation Detailed Statement of Financial Activities

Net income/ (expenditure) 41,355 41,355 (2,999)
Net income/ (expenditure) before
other gains/ (losses)		 41,355 41,355 (2,999)
Other Gains - - -
Net movement in funds 41,355 41,355 (2,999)
Reconciliation of funds:
Total funds brought forward (2,999) (2,999) -
Total funds carried forward 38,356 38,356 (2,999)

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