Ch•iity reglstratlon numbgr 1204841 (England and Wal•sl OBEX FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
OBEX FOUNDATION LEGALAND ADMINISTRATIVE INFORMATION Trust••s Dr S Bh8ndal F Hall C Heathcol• Sgnior manag•m•nt Dr S Bhandal Chair Charlty numb•r (England and Wal•$l 1204841 R•g1St•r offic• Obex Foundallon 10>111 High Street Houghton Regis Bedfordshire LU5 5BJ Ind•pend•nt •xamln•r Rogars sncer Newstead House Pelham Rd Notbngham NGS 1AP Bankor¥ Nthesl Bank 36, Sl Andrew Square Edinburgh EH2 2Y8
OBEX FOUNDATION CONTENTS Trustees, report Independent examinerfs report Statement of financial actmlieg Ban sheet Notes lo the finawal statements 7-12
OBEX FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST2025 The Trustees present Ihgir annual roport and finar181 statements for Ihe year ended 31 August 2025. The fin8na818latements hav6 been prepared in aco)rdance with the acMuntlng polKies set out in note 1 to the financial $181emen15 and comply with Ihe ¢harlVs govgmlng document, the Charities Act 2011. FRS 102 The Flnancial Reportlng Standard applicable in thè UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Chariti'es.. Statement of Recommended Practice applicable lo tharilies preparing their accounts accordance with the Financial Raporting Standard applicable in the UK and Republ of Ireland (FRS 1021" ObJgGtlv•$ and acllvltles In the period of th& second gnnual report the Obèx foundation has oontinued worktng on ils clear obJectNg to lèvel the outcomes for, and lo improve the lives and health of disadvanlaggd chiklren and young peop in Hertfor(Ishire and Bedfordshlre. The wlnerable chHdren and your¥J people wa help live in home5 experiencing poverty, debt. substsnce abuse, domests'c abuse and heatth challenges. In $ome e5. thildren can be primary carers in Ihelr e8rty leenage years. Through the extenswe Ms(ts by Ihe trustee8 to the 8¢hools in our region. we witness the great efforts of the ststo education system to support all ¢hibJren. We never cease to be inspired by tho cLsmmrtment, personal sa¢riflce and passion of the teachers WÈ mèèt 1th8t they achieve with the r8sourc8S thay hav• available is truly amazing, but it is not enough and 1hey need more. Al the Obex Foundation we are provkllng &Jdrtional resources and interventions in sthools targeting disadvantaged ¢hlldren, along the education pathway, in the prSmary, secondary and pupll r6lewal unil settings. Against our cor8 objectives we hove". Havg oxpandad the pr•sencè of our delvery partner programm reaching Children in the primary and secondary s8tting$. developed strong relalitinshlps within our schools nthlork impromng oui understanding of the wder support wo n pigipide strengthened our ytsvemance around grant giwng and the ac¢ountabilty of the r•cipi8nts to ¢reale a focus on value and impact. delivered and participated in fundraising event$ building OUT nefvmrk of donors and supporters to sewre long term sustainable funding. The trustees confirn thal IW have referred to the guidance contained in th• tharity o)mmi$$ion'$ general guidan on public benefit when I8¥Ing tho Foundation's aims and objeclives, plannlng future a¢b¥tties and sgtting tha grant mth.ng pdi¢y for the year.
OBEX FOUNDATION TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGusf2025 Achievements and p•rfomwn¢e Delivery Partner programmès 'multsport School Partnerships", Jason Robinson Foundation Expandèd programme from 5 primary schools lo 10 reaching 120-150 ¢hildron per school across Luton, Dunstsble and Hemel Hempstead Re$OUnding posrtive feedback from sthools and dbildr8n regarding the irnpa¢X acheS hav9 L childr8n and teache 'On Track To A£ve., Dame Kelly Hdmes Trusl Delivered the programme through 5 secondary schcrt)Is reatlng 100 d)Id n. Obex Foundation volunl¥•r$ supporting all programmes Teachers and voluntéers reporting measurable ptssilive impact. in particular, with Children suffering from low seN-eSteem and nfidenCe D811ag11o RugbyKbths Paused the planned programme expansion pla¢ing morg fo$ place on the quality and d£liv&ry of the Intervention. Delivery in 3 LLrton schools and 1 Stawn schooj, reaching &12 pupils p•r 6chool Strengthened 1h8 important ralationship with th¥ Av•nue cen for Educion IACEI, the leading centre of excellen in altemalive prowsion in Luton Partner aceountability Wa idantifiad a n•ad tts r¥i8e our understanding of the value and impa(a of our inlgtvwrtion6 for all stakehddefs bul, in parti13r. the thildren and our donors. We have implemented a more slru¢tured reporting regime with our dellvery partners through monthly operations maatings and quarterty meetings of tho Iwstees and Dalivgry Partner CEOS. FundraiBtrng and Donors The follovAng events were a great success in MmunicatIng the WQTk and achievement$ of th? Foundation increased Dur nefv40rk of suppc>rters and the fund5 corrmitted lo the foundation.. Obex bike ride fundraiser in (x)njundion vdth Jason Robinson FouTrJation, Sopl8mb&r 2024 Fund raising events C¢>hOSt with The Solthem Sporting Club Lawrence Dallaglio- Centurion Golf Club. May'24 Jason Robinson- Centurion Golf Club. November'24 C¢>hosted with The Sportlng Club Zara findal Lunch, May'25 Held first 100% Obex fvndraising evenl. Harpenden RUFC, Jy'25 We athieved an increa58 in donors pledging long-lem )mMItment lo the foundation Flnan¢lal r•vlgW The charity received an incomg of £294,120 durfng the yoar, £55,839 of this hats been defer as rt related to an event aft•r the year and. The thafty has unrgstrlcted funds ol ÈS6,407 whth is 8uffKient to meet its future rgqulrement8. It 18 the foundallons pollcy lo build reserves to ensure long-term sustainabilty. However, In the earfy years. funds raised have been fvlty ulilised lo deliver impact building the charity's rgpuiatlon and neOrk in the school $9ttings whh the aim to support communication and fvndraisirKJ. The Foundation's financial pOsitn is shown in tho balance shaet on page e and The Trustees are satlsfieil that Ihere 8rè no Materi uncertainties regarding thè Charity's ability lo continue a5 the going nCem. Th• finan¢1 Slalements have therefore been pr9pargd on the going con¢em basis.
OBEX FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Structurn. govèman¢e and management Nature of governlng do¢um¢nt The tharity is operated undo1 tho rules of ils governing documonl as a charitablè incorporated organisaloon dat&J 21 September 2023. The Trustee3 who semd during tha yèar and up to the dale of signature ofthe finandal statements were.. Dr S Bhandal F Hall C Healhcole RecnJitment8nd appthnfment oftrnstees The Obex Foundation carrys out 8 skills ¥udrt of current trustees which id8nlifias knowledge gap5 wilhln the board and then adivgly tskgs Steps lo recruit tnts1$ accordingly. In order lo be¢x>me familiar with the practical work of the charity, new Iruslees will recaive a copy of the annual reporL the goveming document and the latest financiol ieports, together wKh bèing Assigned a mentor from the existing Iwstee board. They will also maat with thè chairpèr$È>n and e$ting trustees. Indu¢lion and tr•lnlng of tntr The trustees arè invit¥¢J to 9tt9nd Sndudon training which covers the following areas.. Governancè. b. The constitution. Training and Support. d. Rolas and responsibilities. ¥. Communication. The charity's policies and best practu guides. g. The Ob8x Foundation's busin8ss plan. h. The risk register. Al trustsos ar8 then stgnpostsd lo any other relevant training throughotrt th9 ygar. The TTUSt88s' r8POrt was approved by the Board of Trustees. Dr S Bhandal Chalr of Trn$tse¥ Dale..
OBEX FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OBEX FOUNDATION I report to the Trustees on my examinalitin of the finanaal statemènts of Obox Foundation (the charilyl for thè year ended 31 August 2025. Responsibilit5es and basb of wort Ag the Trustees of the charity you are responsibla for th¢ preparatson of the finanrAal statements in accordance with the requitsments of the Charitias Act 2011. I report in respeL of my examinallon of the Charitys financial statements carried out under 8ection 145 of th8 Charilles Act 2011. In Carrying out my examination I have followed Iho Dlrgcuons gn by the Charity Commission under section 14515llbl of the CharitiesAct 2011. Ind•p•nd•nt oxamln•rfs stat•m•nt Since the eharily's gross income exceeded £250,CW, the indewndenl ex8miner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confim thal l am qualifi to undertake the examination because l am a member of AssorAation of Chartered Cettified A¢ctsunt8nls, which is ofthe listed bodies. Your att8ntion is drawn to the fact that the tharty has prepared the financkql stslemenls in 8twrdan with the relan¢ vorsion of the Slalement of Recommended Piactu applicable to d)arities preparing their flnanaal ststemenls in a¢cordan¢e with the Financjal Reporting Standard applicable li the UK and Republic of ImLand {FRS 102> in pieferen( lo the Accountmg and Reporting by Charitias: Statement of Recornmended Practice issuod on 1 Apfil 2005 which 15 referred lo in ihe extanl règulation$ but h8$ now been withdrawn. l understand that this has been done in order for the fin8ncBI Stalements lo prowde a true and fair view in acLordance wlh UK General ApIed Accounting Practic•. I hav9 compt9 my examlnation. l ¢onfinn that no matters hava me lo my att8nlOon In Connection wilh the examination givsng me eausè lo believe that in any material r8sp8ct'. accounting records wèra not ktrpt in rèspect of the charrty as required by sect)n 130 of the Chaillies Act 2011. the financial statements do not ?ord wth Uyjse r9¢0rds'. or tho financial statements do not comply wilh the applicablfy rgquiremènts conceming thè form and content of finanei81 $18lements set out in the Charitiès (Accounts and Raports) Regulations 2008 other than any ruIreMent that the financial slatemenls give a tru& and fair vw. which is not a matter considered 8$ part of an independent examination. I have no concems arKI hove come across no othèr matters in connection wh the axamin81ion lo whth attention shoukj b8 drawn irfThi port in order lo onable a proper understanding of the finandal stalemenls to be reach•d. Mefvin Bailey FCCA DChA Rogers Spencer Newslead House Pelham Rd Nottbngham NG5 1AP D81e'. 30 2oz&
OBEX FOUNDATION STATEMENT OF FINANCIAL ACTivrriES IIMCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST2025 Unr•strlct•d funds 2025 Retri¢t fvnd$ 2025 Totsl Unrestrictod fund$ 2024 2025 Incomg from: Donatlons and lègacie8 Other trading activities 177,545 94,928 177,545 116,575 15,( 21.647 Total income 272,473 21.647 294,120 15,C(M) Expgndltur• on: Raising funds Ch8Mlable actiwlies 5.021 1,278 5.021 231,679 230.401 T¢)tal expendriure 230.401 6.299 236,7CK) M•t Incom• •nd movement in funds 42,072 1S,348 57.420 14.335 Reconclllatlon of fundB: Fund bal8n(8 at 1 Sèplemtet 2024 14,335 14,335 Fund b*lances at 31 August 2025 56,407 15.348 71.755 14.335 The statement of finanaal activit$ Indudes all gains and105ses r&cogni$gd in Ihe year. Al coMe and expenditu derfvg from conb'nulng ath"Vil8.
OBEX FOUNDATION BALANCE SHEET ASAT31AUGUST2025 2025 2024 Not0¥ Curr•nta8s•ts Debtors Cash al bank and in hand 39,749 93,165 30,339 132,914 30,339 Credltors: amounts f•lllng duè wlthln one year 12 161.1591 (16.004) N•t ¢urr¢nt a88•ts 71.755 14,335 Th• funds of the chaiity Restricted Income fvnds Unrestricted funds 14 16 15,348 56.407 14,335 71,755 14,335 30/06r26 Th• financial stalemenls were approved by the Tru5t88s on.............. . . Dr S Bhandal Chalr of Trustse8
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng poll¢lg$ Charfty Infom)atlon Obex F0llndn 1$ a Charltae Incorporated Organisation in the United Kingdom. The addrnss of th princAple officols 10>111 Hvjh Street. Htsughton Regis, Bedfordshire, LUS SBJ. 1.1 Ba81• of prnparatlon The financial 518tements have been prepared in accordance with the charty'5 goveming douJm•nt, tho Charltigs Act 2011, FRS 102 The FinancAal Reporting Standard applicable In the UK and Republic of Ireland" and tho Ch#rrties SORP "Accounling and Reporting by Charitiès.. Slalement of Recommended Practice appllcable to Charities preparing their accounts in acLDVdan with the Fbnancial Reporting Standard applicable in the UK and R8publi¢ of Ireland IFRS 1021" The charity 18 a Public Benefit Enb"ty as defmed by FRS 102. The charty has takan advanta of tha pW$S in the SORP for charitias not to prepare a stslement of cash Ilows. The financial slalemen15 have departed from thè Charities (Accounts and Reporlsl RegulatnS 2008 only to the exient required to provide a true and fair viéw. This departure has involved following the SlaterrEnt ol Recommencled Practice for charitie$ apptying FRS 102 rather than the version of the Ststemenl of Recommend8d Practkg whlch is ref&rr8d to sn the Regulations bul whKh has sin¢e been wthdrawn. The ftnanclal slalements are ppared in slerfing, which is the functional currency of the charity- Monetary amounts in these financial slatsments are rounded lo th8 naarast £. The fin8n¢ial stalemenls have been prepared under the h181orlcal cost conveMion, Imodified lo Indude the revaluation of freehold properties and lo includ& inve5tm?nl properties and certain finandal Instrument5 at fair value]. The prTncipal accounting pc4ie4es adoptèd 8re set out below. 1.2 Golng eone•m Al the lime of approving th8 financial ststemenls, Ihe Trustees have a reasonab19 gXP&Ctalion that the charty has adequate resources lo contlnue In operatoonal existence for the foreseeablè futu. Thus th8 Trusteès nlinue lo adopt the golng con¢em basis of aountIng in preparing the financial statements. 1.3 Charitable fund8 Unreslrlcled fvnd8 are avallablè for use at the discetiorb of the Twst¢e$ in fijrtherance of thèir ¢harilable obiecl'ves. 1A In¢om• Income is recognised when the charity 1$ legal entitled to it after any performane• tondibons have bggn mgL amounls cgn be measured reliably. aNJ tt is probable that income will be r8ceived. Cash donations are recogniqed on lpt. Other donations are recognised once th& charity has been notffd of the donation, unle$s perfortnance conditions require deferral of the amounl. Income lax recoverable in relation to donations roceived under GiftAid or deeds of covenant is recognised at th& time of the donation.
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR EhlDED 31 AUGUST 2025 Accounling polici•s {Contlnv•d} 1ts Expendrture Expendlture Is re¢ognised once there is a legal or construdive obligation to transfer oconomi¢ b¢nefft lo third party. rt is pbabIe that a transf8r of economlc beneffts will be required in selllement, and the amount of the obligation can be moa8ur8d r8liabty. Expendllure is dassffigd by aclth"ty. The cLisls of eath activity are made up of the totsl ol direct costs and shared costs, induding suN)ort cost5 invofved in undertaking each adivity- Dirèct eosts attributable lo a slng Bctiwty are 8llo¢atetl dIrect lo tt)at activty. Shared costs which eonlribute to more than one actNity and support c¢$l$ whth are nol attributable to a single actiwty arp appoOned tween those aciivities on a b8s18 eonsi3lenl with the use of resources. Central staff eosts Bre alloc8ted on the basis of lime ynt, and doprecialion charges are albcated on the porbon of Ihe assel's usg. 1.6 Ca$h and cuh equlvalents Cash and cash equivalents In¢de cash in hand. deposts held at call with banks, other short-lemi liquid investments with orfoSn81 malurMi8s of three months or less. and bank overdrafts. Bank overdrafts are shown thin borrowings in curr•nl liabilities. Criii¢al accounting •sllmatos and jUdnnts In the application of thè chaiity's accounting pcAiLaes, the Truste05 ar8 raquired to make judgements, estimates and assumpllons about the carrying amount of assels and liabilities that are not readity apparent Irom othèr sourcès. The estimates and associaied assumptions are ba89d on historical experience and other fartQTS that are ronsidered lo b8 relevanL Actual resulls may differ from the$8 eslirnales. The eslimales and underlying a55umptions aro reMaw8d on an ongoing basis. ReM$ion8 to accounlkng eslimale$ are re¢ogni$ed in the period in which the estimate is r•vi$ed where the rewsion affe¢t$ only that period, or in the period of the reVIOn and future perlods where the revisk)n affects both current and future periods. Incom& from donatlon$ and legach¥ Unrestricted Unrnstsletsd fund$ fund8 2023 2024 Donations and gilts 177,545 15,000 Incom• from oth•r tradlng aclivltles Unr•$trl¢t•d Re*tricted funds funds 2025 2025 Total Unr•strict•d R•stricted funds fvnds 2024 2024 Total 2025 2024 Fut)drai$ing gvfjnls 94,928 21.647 118.575
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Exp•ndIre on rniiing funds Re¥trictod fund• 2025 R•strf¢t•d nds 2024 Fundralslng and publicity Seeking donation$, grants and legac4e8 5,021 Exp•ndlture on ch*rltable actlvltlos Total 202S Total 2024 Dir•ct costs Bank Charges Postage, Frelght & Couvier Subscriptions Other charges D¢nalions paid out Advartising IE Fees 278 405 227,232 1,680 230,299 Share of4upport and gov•manc• costs Govomance 1.380 660 231,679 665 An#lysSs by fund Unrestricted fiJnd$ Restricted funds 230.401 1,278 231.679 Nèt movttmènt in funds 2025 2024 The net rnovemont in lund$ is stated after chargingllcreditingl." Fees payablè for the independent examinati%)n of th& ¢h8rWs ffinanclal 5talernenls 1,680 Tru8tr•8 None of the Trusteès (or any p•rson$ ¢onnected wilh them) receN8d any ramunaration or bonefits from the charity during the year.
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 AUGUST2025 10 Taxation The charity is exempl from taxation on ils activrties because all ils income 1$ applled for c*)arMable purpose$. 11 Debtov• 2025 2024 Amounts falllng due within one year. Prepaymenls and accruèd in¢om¥ 39,749 12 Cr•ditor8: amounts folling due within one y1 2025 2024 Deferred income Accruals 13 55,839 5,320 15.344 61,159 18.C¢)4 13 Dèferred income 2026 2024 Other deferred income 55,839 15.344 Defarred income Is induded In the financial statements as foll$.. 2025 2024 Deferred In¢om¢ 1$ Induded wrthin.. Current liabililifjs 55.839 15,344 202S 2024 Mov8m8n15 in th• year Deferred income al 1 September 2024 Released from previous periods R•sour¢8$ deferred in the year 15,344 {15,344) 55,839 15,344 Deferred income at 31 August 2025 55.839 15.344 10-
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 14 Restrictèd funds Th8 r8$tri¢ted fund3 of the tharty comprise the unexpended baLgnceB of donations ond grants hèld on trust 8ubject 10 5pecsfic nditIonS by donors as to how they may be used. At1 Septsmbor 2024 Incomlng resources Resourc•• At 31 August xpendgd 2026 Funds raised gt JRF Sardinia event- Sept 2024 21,647 16,2991 15.348 15 Unrtgtrict•d funds The unrestricted fvnds of the charity compris8 the un8xpended balances of donations and grants whid) are not sublect lo speafi¢ condibons by donors and grmntors as lo how they may be used. These include dfjsl9n funds which have been sel asldo oul of unrthcted fvnds by the trustees for spec¢fic purposes. At1 Sgpt•mb•r 2024 Incomlng RMour¢es At 31 Augu¥t rosour¢ oxpendgd 1015 General fvnds 14.335 272,473 1230.4011 56.407 Pr•viou¥> period: In¢)mlng resour¢eg Resourem At 31 AuguBt •xp•nd•d 2024 September 2023 General lunds 15.(XlO {665) 14,335 16 Anaty¥ls of nèt amots b•tw••n fvnd¥ UnY•$trfet funds 2025 Rg5trictod nd$ 2026 Total 2026 At31 Augusl2026: Current asselsllliabili118s> 56.407 15.348 71.755 56,407 15.348 71,755 11
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 16 Anatytsis of net a88èts betren fvnds {Contlnu•dl Unrestrlct•d funds 2024 R•8trlcl funds 2024 Total 2024 At 31 August 2024". Current asselsloiabililiesl 14.335 14,335 14,335 14,335 17 Relotsd party tr•n$actlons Trnnsaetlon$ with r•lat•d parties Dr S. Bhandal aets as a trustee ol both Th• 0X Foundatbjn and the Jason Robinson Foundal•?n. During the year, The ObBx Foundation m8de a donation of £30,OLIJ {2024.' £nill to the Jason Robin80n Foundation lo support the muhiple school programmes. 12-