Registe￿1 Charity Number 1207481 T5E Triple Skillz Charity TRANSFORMING YOUNG LIVES & COMMUNITIES Report of the Trustees and the Unaudited Financial Ststements for the Year Ended 31st August 2025 for Triple Skillz Charity Registered Charity Number- 1207481 Registered address - Thumby Lodge, Thurncoat Road, Leicester LE5 2NG www.tripleskillz.charity Pagel121 Triple Skillz Charity Contents of the Financial Statements for the Year Ended 31st August 2025 Page Report of the Trustees Independent Examiners Report 14 ststement of Financial Activities 15 Balance Sheet 16 Notes to the Financial Statements 17 Page2121 We are also to redalm redundant fadlltles and t•rn alms to expand wovlskn reglwalty and njtlmalty In due Ilm Page3121 Triple Skillz Charity Legal and Administrative information Charfty Trustees during 2023-24 were as lollows: Appolntment date Graham P Chambers (chair of trustees) 11.10.23 Marcus C Dlxey 11.10.23 Rendall M Munroe 11.10.23 Teresa Aldred 07.04.25 Ron Overton 18 our part- lime CEO and Charlty Secretary Charlty numb#r {England and Walo811207481 Company numbèr CE035590 Rgglstsred offlce Thurnby Lodge, Thumcoat Rd, Lelcesler LE5 2NG Independgnt examln•r Haslehursls Limited 88 Hill Village Road Sutttsn Coldfield Wèsl Midlands England B75 5BE Testimonial from a parent .1 LO￿ what y8Li nrc hAw(pLAvb￿ fv th&r4ret4. w& deEPfffteLy thbs sgrt rf sy8¥t pr&rf￿￿ Leicster tkis PTrvt rf L￿Estry speuttLIy. Mèl sgvb hAS bec￿ A l4cAI aLtrY￿k￿lS1e￿tl￿ Prorf￿1￿r that's greTrt bL4t thtrt bs A wk&Le itt rf ether supp9Yt ll￿￿ eKgRgew￿t he ￿ldS Trifs sbztLLz Yit PegpLc her¢. A*ArE Page4121 TRUSTEES REPORT The trustees present their second annual report together with the financial statements of the charity for the year ended 31st August 2025, including our accountants (unaudited) report for that year. The Board In preparing this annual report, the Board of Trustees have noted the guidance set down by the Charities Commission regarding public benefiL A year end report for YE 31.8.24 was prepared for Funders but was not uploaded to the Charity Commission as the charity was registered under 6 months previously. This report, whilst the second independendy examined report, is the first duly uploaded to the Charity Commission. Our Mission To support local communities with a key focus on the development, inspiration and achievement of young people and support of their families. We work through sports, music, drama and shared activttses to engage young people and to support better lives and futures. To begin in Leicester and to develop our work and support at county level, regionally and nationally To achieve a regional footprint within 5-10 years. To be a force for change and transfomation at personal, organisational and community levels. to support young people to achieve their potential, to inspire their ambition and to provide the opportunities they need to move forward, including towards education and employment. Our Vision Is of a world in which young people are helped to understand and achieve their full potential and are provided with the support and facilities to get there. We want to see those that are most disadvantsged, by ￿asOn of background, povety, personal circumstances or genetic inheritsnce, given the support they need to overcome those barriers and to be the best they can be, within vibrant supportive communities. We want to see organisations, across sectors and at every level, working together to invest in the future of our children and young people and to make them a priority. We want to play a powerful part in achieving that vision and tsking strong steps towards it. Ourvalues Faith in young people and their potential Respett and Understanding Patient and persistent Honest and Transparent CollaLM)rative Relationship focused Integrity and Trust Optimism and Hope Pdge5121 The formal objective of the Charlty as stated within our constitution and agreed with the Charities Commission is: "For the public benefi¢ l. the relief of people in need by reason of youth, ill-health, disability, financial hardship or other disadvantsge in England and Wales, primarily but not exclusivelyi those under 26 years of age. 2. The advancement of amateur sport within the community, linked to community capacity building and cohesion, working especially with disadvantaged groups. The CIO will develop a number of community sports hubs as multi-sport trnt￿5, including bringing back into use redundant youth centres and similar public buildings, including in partnership with local authorities. It will use those facilities to develop programmes aimed at those with a range of needs and to create opportunities and positive activities for public benefit." Our second annual report- for 2024-25 (Year ended 31st August) A year of launch and development and increasing consolidation in a challenging funding environment but with encouraging support from the community we support. Introductlon and background We were establlshed in October 2023 as a charfty and registered as a Charity (CIO) approved by the Charity Commission on 18th March 2024 The charity was launched in 2023 by Triple Sklllz Education Llmtted, an Altemative Education provlder, because there was so much more need than simply education If the young people they support were going to be helped effectively. That includes basics like breakfast clubs and community engagement but also sporting and social activities, adventure and experience opportunities and a mentoring and support approach to help them to fulfil their potential and avoid the consequences of a negative behaviours, unhelpful relationships, involvement with substance abuse and being drawn into gangs and exploitsd by powerful individuals. We work in Leicester and in areas of multtple deprivatton and we work with young people excluded from school and who are NEEf until we connett with them. We run an outreach programme to contact young people and take referrals from schools and colleges, youth offending teams, as well as Triple Skillz Education and other Altemative Learning Providers. We have good skills, experience and track record of working with challenging young people and are recognised as such and have a high reputation for what we achieve with the young people we support. We will work with over 200 young people by the end of 2026. Almost all join us for our sporting programme and many benefit from our breakfast club. Around 30 young people will then participate in our experience and adventure programme; a further 20-30 young people benefit from the Aspire Mentoring Proje¢ receiving around 6 hour5 of mentoring per month to reduce offending and support positive behaviours and lifestyles. Most young people on our programmes access around 10 hrs of support per month. Our services are person-centred, and each young person will have their own programme, informed by the menu of options we have available, and including from partner5 and signposting a5 needed. We will measure progression and achievement. Page6121 We work with young people from 13-24 years of age and espeaally wth those transitioning towards work, apprenticeships and vocational leaming. Our'sweet spov, is 16-19 yrsi Whe￿ we can have the most impatt around social relationships, work preparation and introductions. The cost of one young person ending up in juvenile custody is up to £200,000 per year and the lifelong cost of a young person ending up in a cycle of offending into aduSthood is enormous and runs into millions. Our overall service programme for 2026 will cost us around £76,000 and we will rdise around half of that ourselves via community and corporate fundraising We seek to work with those young people who most need help and support and otheNise have the likelihood of negative behaviours and a acquiring a criminal record, blighting their fvture prospects at social and economic cost to their communities. We want to guide them into Positive behaviours and trajectories, including work and next steps education and to becoming a positive and contributing member of their community. Within our local Lei￿ster and Leicestershire Community we aim to be a catslyst for community development and pathership. We also impact racial and gang turf issues and make a positive difference at many levels. As the charity and its footprint grows, so will the number of young people we can help and the communities we can help transform. There is huge unmet need Young people in the UK have had to fa￿ a number of intersecbng challenges over the last few years and arguably are the most disadvantsged generation of teenagers Sin￿ the second worfd war. We at Triple Sknllz can identify at least 10 key issues and problems our teenagers fatr today, which include social media, peer pressure, on screen violence, bullying, sexualitylgenderlsexual behaviours, Drug and alcohol/substance abuse, Health and obesity, education and unemploymen¢ life prospects and mentsl health, Action 4 Youth identify a number of fears and concerns expressed by young people in 2024 and include the cost of living and an uncertain wodd, relationships and personal future prospects. Many of our young people, and especially those we WO￿ with in Leicestershire, are disillusioned, disadvantsged, disenfranchised and disengaged. There are many who would argue that we have failed our own children over the last ten years or more. The Charity was established to work with young people and provide the additional inputs and opportunities missing for so many of them. Our conviction is that the integration of a passionate con￿rn for young people as a group, but especially as individuals, with relational support which is tsrgeted and person-centred is what makes the difference. That, alongside positive work-related skills development and ramps towards employmen¢ including mentoring and engagement for those most disadvantsged or hard to reach. We provide a developing range of opportunibes and use our strong partnership links across the community, and extensive expertise and experien￿ in working with this group to meet needs in a unique and tsrgeted way. See www.tri leskn'llz.chari We provide: . Sports and youth programmes in evenings, w￿kendS and especially during school holidays • Adventure and Development experiences in this county and later abroad, to inspire and educate for Sife . SupeThised volunteer mentoring programmes for those most in need of that personal investment and engagement . Female focused programmes to inspire and safeguard young women and provide opportunities and alternative ambitions • Introduction and referral to employers and the local busines5 community • Training on relationships, posibve behaviours, resourcefijlness and life planning and personal development. Page7121 We work collaboratively and in partnerships across education, business and the wider community. Facilities and Engagement We aim to help transfomi the community as well as its young people and we work to help bring back into use local youth and community facilities and to challenge priorities. We believe in the potential of people to work together to achieve things that go on changing things for the better. We know that for teenagers this is a critical age, and that acquiring a criminal convittion or spiralling into substance abuse or mentsl health issues can have lifelong Consequen￿5. We aim rather to provide ramps and opportunities into positive and alternative pathways. We already have a strong reputation for maknng things happen and getting things done. With your help we aim to do much more. Pandemic and current Economlc Impacts Covid severely imparted charities and its legacy was part of our context as we launched the charity. That reality has been further challenged by the economic and energy crises which have created a huge challenge for charities and especially for smaller ones like ours, and start up charities, where a large proportion of our fvnding is community based. We need good friends to achieve that next level. This first 18 months has been more of a struggle than we hoped but we can now see the traction and momentum gained and our reputation and profile is growing. Recent additions to funding have demonstrated that. . In this report we also share some of our future plans and ambitions. 2025-6 Provithn (and to end 2026) Sports and after schools programme We will work wlth a least 100 young people on an ongoing basls across the year, providlng sports and social opportunities, fun days and barbecues, a camping weekend and an adventure days in the Derbyshire Peak District. And a challenge event to scale Ben Nevis. We wlll build on existing and new relationships and fvrther engage volunteer youth and sports coaches and sessional workers. We organise the programme to reach young people when they are most likely to get into trouble or struggle to find positive altematives to negative behaviours. Including school holidays early evenings. We will fjJrther develop the programme throughout the year. Mentoring Project In June 2025, we launched our Aspi Mentoring Project for young people at risk of offending. This ongoing projett works with 25-30 young people around personal planning and development and a bank of 30-50 volunteer mentors. IVS a project design our Chief Executive has run previously and very successfully and something we know how to do well. The aim will be to replicate and expand the project into other areas regionally as it develops. Facilities We are working hard with the local authority and looking to securelbring back into use a redundant community and sports facility, hopefully with some funding and recovery finance attached. We will otherwise commission and use other facilities as we have need. This 15 an area of long-term ambition and development. We work from Thurnby Lodge and utilise other facilities and recreation grounds In Leicester. Page8121 Staffing and Oryanisational Development We are currently still quite small but have big ambitions. We have excellent relationships with other local organisations and have already leveraged significant corporate partnership and sponsorship for what we do. Our close relationship with Triple Skillz Education is also a fantsstic asset and opens up schools and other partnerships for the charity. We now have 15 volunt*rs and employ a partbme and highly experienced CEO (0.2) and part time Aspire project Co-ordinator. (FfE 0.6.) We will grow the resource and support base in line with the expansion of our setvices and funding, including a part time Fundraising Offi￿r from January 2026 (FfE 0.3) Our budget for this next year is at £95,000, and we now have expetted funding of around 40% of that sum with £36,000 already secured. Events and Challenge fundraising (again we have good expertise in this) includes a skydive, a wolf run (obstacle event) a golf day, a black- tie dinner, a cycle ride and a trek. There will be others and aimed at leveraging £3,000+ per month over the next 12 months. Trustees are approached personally, or advertised for. We have a clear process for recruitment, application, approval or reiecknon, inductionlonboarding and development. A duly completed application form is required, including references, and a role and person specification is cleady ouuined. All trustee5 are DBS checked (as are staff and volunteers) in line with our safeguarding and equal opportunities policies. Trustees are supplied with appropriate information ahead of their conSide￿d application for Trusteeship; they are appointed and supported in line with the charity constitution, the good trustee guide and other legislative guidance. The Board of Trustees meets six times per year (3 face to fa￿ and 3 virtually) to ftjlfil their role in overseeing and directing the affairs of the charity, ensuring that it is well-run and delivers the charitsble outcomes for which it is estsblished. One of those meetings is an annual strategy dayi when the Trustees review the overall strategy for the charity, including where we work and what we need to provide and offer. Trustees are committed to the Nolan principles of selflessness, integrity, objectivity, accountability, honesty and leadership. We currendy have four Trustees and aim to add three more during the year, especially across finance, legal matters and senior education. We are a small but high-quality team. Our founder and Chair is Graham Chambers, with a wide experience and expertise in youth and community work and runs an altemative education company called Triple Skiliz Education Ltd. Another Trustee is Rendall Munroe, former EBU and Commonwealth super bantamweight champion and a passionate supporter of disadvantaged young people "I was one of these knds" he says. Marcus Dixey is a local businessman with a great track record of sales, management and contscts. Teresa Aldred is a local councillor and this years Lord Mayor of Leicester. She is hugely committed to community and young people in Leicester. Ron Overton is our part time CEO and has a great track record in charity management over 20 years, and at national, regional and local level, including running similar youth programmes. Manisha Kotecha is our 20 hrs p wk Project Co-ordinator with a background including NSPCA. Sophia Stewart-woods is our fundraising and admin officer dge9121 As part of our development planning we produce a two-year strategy set into a five year frame of ambition, together with a t￿0-year operational plan and fundraising plan. A rolling 12 month cash flow is maintsined to ensure sustainability and advance finance planning. ure and s tem In alignment with our current strategy and development ambitions we have added a CRM system for service monitoring and fjJndraising and use SharePoint to support good infomation sharing and joint working. We worl( remotely as well as F2f and hands on to provide services, but have regular virtual Team Meetings and come trjgether for one day per month face to face to maintain relationships and mutual accountabilities. We are tsking on a small and very economic desk spatr in the Regus Building in Leicester to fvrther develop our local p￿sence. Our Annual Strategy day brings together staff and volunteers, including Trustees and we have a widely balanced and inclusive steering group that meets termly to ensure we are listening to young people and helping them shape provisi09n and development, as well as stskeholders and partners across the community, including schools and referring agencies as well as fijnders. The aim is to balan￿ growth and prudence, ambition and sustainability, and to ensure the systems and processes are developed in line with and slighdy ahead of, those developments. 2024-5 actlvlty and WDvlskn This first 18 months was very much about launch, development and consolidation. We achieved Charitable accreditation in March 2024 and worked from Easter onwards to develop the framework and bring t(gether the people to help is make the impact and secure the benefits we want to achieve. We organised a summer activity programme to help young people over the summer break, ran and Derbyshire Peals adventure weekend for 27 participants in October 24 and launched a sports prografflme working with 20-30 young people. We did struggle a bit for funding and that has curtailed what we could provide a Ilttle but agaln have good community engagement and support and are seeing growth and development on an incrementsl basis. See below for recent encouragements around funding. Our alm is to support 200 young people across 2026 and to expand provlsion , developing our Aspire Mentoring project which now supports 25 young people across the year and for 12-15 months, deploying local volunteer mentors matched to the young persons needs and aspirations. All our programmes will grow and expand and we aim to increase provision and support by around 50% per annum over each of the next three years. Trustees remain concerned to move forward with a stronger ambition to help more young people and to build our resources and fundraising to take us to the next level but are realistic about the challenge. That includes building a pipeline of funding from grant making trusts and statutory sources and to add capacity in line with development. Our aim is to add further corporate and community fundraising capacity. Over the next three years we want to consolidate what we do across Leicestershire and then begin to extend provision as needed across into adjoining counties and areas of deprivation. Services and sUPPOrt as well as facilitles for young people in Leicester, have eroded and been scaled back a just the time they were needed most. We are determined to provide a credible and positive response to that and to help as many young people as we can in ways that transform lives and futures. Page 10121 Fundraising Given our level or resource and the fundraising environment, raising the amount we did largely from such acknvities, was a creditable pefftirniance but will not sustain or develop the Charity going forward. Our plans are about diversification as much as expansion. We undertook challenge events such as obstacle courses, runs, Skydives, a golf dayrt gala Dinners and Quizzes and similar events. The charity also had many members of the public tske part in similar events, as well as ￿CeiVIng donations from members of the public and support from a growing number of local Corporate organisations. We have produced a corporate brochure to support that fijrther development. We continue to invest in bids to grant making trusts, especially as our Mentoring Project develops and aim to leverage some ststutory support as well as increasing traded income through recycling schemes and sales of goods. Future fundraising development will further diversify our income streams and ensure sustainability and a working reserve to support the development of the charity and the increase of its provision. Provision will always be aligned with our income and subjert to fijnding. Aditional capacity through our r Fundraising Officer will improve margins on Corporate and Community income, largely unrestricted fvnding. Targets for 2025-26 are a totsl of £94,500 as follows: statutory funding of £10,000 Grant Funding of £41,5(M) Corporate support of £9000 Event and Challenge Income of £27,000 Individual donations and organisational income of £7,000 nanaal Review 202 4- Interim Re Income to 31.8.24 was £22,418; expenditure was £18,239 and that left us with a surplus of £4179 for the year. The whole of that fijnding was unrestricted funding and meant that our reserve at year end was £4179 Cash at Bank on 31.08.24 was £7143. 24-2 this erre ort We made the challenging decision to move fotward with the Mentoring project and tske on part time staff without full funding. That social entrepreneurship and calculated risk enabled us to demonstrate what we can do and leveraged additsonal fijnding, much of which came in shortly after year end, induding National Lottery Funding of £15,000, £2,01)O from the Alchemy Foundation and a ftjrther £1,000 from the Helen Jean Cope Charitsble Trust. We need another £23,500 to hit our grants budget and a fijrther £53,500 overall. See above. At year end 202+25 we were running a small loss but were assured of imminent income from recent bids and other fundraising. So primarily a matter of timing. At 1.12.25 we have over £10,000 in reserve and with an acknve fundraising strategy. We expect to finish the year with around £20,000 in reserve. Our budget in 2025-26 provides for £72,000 of expenditure, £92,000 of income and a surplus of £20,000. That will create a reserve of just over 3 months running costs at that time. Page 11121 Our reserve policy is to achieve and then maintsin free ￿serveS equivalent to 3-6 months running costs, to ensure sustsinability and our ability to respond to emerging need. That provides a platform for ￿rther development in 2026-27 and beyond. As indicated ab)ve we aim to ensure a diversified income stream across StatLttory, Grant, Corporate and Community income and to invest in each of those streams as part of our strategic and fundraising plan. We have invested in additional skills and resources as much as we can at this stage and are confident of the direction and pace of forward development and keen to secure partners and funders at all levels to help us to make vital interventions and contributions to the support of disadvantsged young people and especially those at risk of offending or exploitstion. The trustees declare that they have approved the trustees. report above. Signed on behalf of the charity's trustees Name: Graham Chambers (chair) Signature Date 16 oi Zoi Page 12121 Company registration number CE035590 (England and Wales) Charity registratlon number 1207481 (England and Wales) TRIPLE SKILLZ CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025 Page 13121 TRIPLE SKILLZ CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TRIPLE SKILLZ CHARITY I report to the IrLJStees on my examinab'on of the financial statements of Triple Skillz Charity Ilhe charity) for the period ended 31 August 2025. Re$ponslblllties and basls of report As the Iruslees of the charity land also its directors for the purposes of company lawl, you are responsible for the preparation of the finan¢ial slalements in accordance with the requirements of the Companies Act 2006. Having salisffed myself that the financial slalemenls of the charity are not required ID be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Chari(ies Act 2011. In carying out my examination I have followed the Directions given by the Charity Commission under section 1451Sllbl of the Charities Act 2011. Independent examinerfs $tstement I have completed my examination. I confirm that no matters have come to my attention in connection wth the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2008. the financial statements do not accord wlh those records., or the financial ststements do not comply with the accounting requirernenls of section 396 of the Companies Act 2006 other than any requirement that the financial slalemenls give a true and fair view, which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles oflhe Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their financial statements in 8ceordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other rnatters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the finanGial statements lo be reached. Haslehursts Llmlted 88 Hill Village Road Sutton Coldfield West Midlands B75 5BE England Date.. 16 oi ZOL Page 14121 TRIPLE SKILLZ CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 AUGUST 2025 Unrestricted funds 2025 Note$ Income from.. Donab"ons and legacies 42,288 Total income 42,288 Expenditure on: Raising fijnds Charitable activities 4,303 40,827 Totsl expenditure 45,130 Net expenditure and movement in funds 12,8421 Reconciliation of funds- Fund balanees at 11 October 2023 Fund balances at 31 August 2025 12,8421 The statement of financial activities indudes all gains and losses recognised in the period. All income and expènditure derive from continuing activities. Page 15121 TRIPLE SKILLZ CHARITY STATEMENT OF FINANCIAL POSITION AS AT31 AUGUST2025 2025 Notes Current assets Debtors Cash at bank and in hand 10 155 475 630 {3.472} Crndltors.. amounts falllng due wlthln one yoar 11 Net current liabllltles {2,8421 The funds of the chorlty Unreslricled funds 12 12,8421 {2,8421 The company is entitled lo the exemptTon from the audit requirement contained in Sgclion 477 of the Companies Act 2006, for the period ended 31 August 2025. The directors acknowledge their responsibilities for complying wth the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial slalernenls. The members have not required the company lo obtain an audit of its financial statements for the period in question in accordance wth section 476. These financial slalements have been prepared in aceordan¢e with the provisions applicable to companies subject lo the small companies regime. Th8 financial slalemenls were approved by the trustees on . .1 G .0. Mr G P Chambers Trustge Page 16121 TRIPLE SKILLZ CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST2025 Accounting policies Charity Information Triple Skillz Charity is based in Leicestershire and works with disadvantaged young people inc those al risk of offending or exploitation. We provide sports & team activities all year round, plus mentoring & personal development programmes, life planning etc. A￿entUre & experien￿ opportunities are part of the programme . Sports activrties indude boxing, football. cricket, basketball. etc. 1.1 Reporting period The Charity began trading on 11th October 2023 and was registered as a Charity on the 18th March 2024. and the financial statements represent the period from the trading commencement date up to the financial period end, 31st August 2025. 1.2 Basis of preparation The financial statements have been prepared in accordance wth the charity's goveming document, the Companies Act 2006, FRS 102'Tre Finanaal Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their a￿OuntS in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021". The charity is a Public Benefit Entty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in sterfing. which is the functional currency of the charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have been prepa￿d under the historical cost convention. The principal a¢wunb"ng policies adopted are set out below. 1.3 Going concern At the time of approving the financlal st*ements, the trustees have a reasonable expectstion that the charity has adequate reSoUr￿S to continue in operats.onal existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial ststements. 1.4 Charitsble funds Unrestrieted funds are available for use at the disuetion of the trustees in futherance of their charitable objectives. Restrided ftjnds are subject to specffic conditions by donors OT grantors as to how they may be used. The purposes and uses of the restricted funds a￿ sel out in the notes to the financial statements. Endowmentfunds are subject to speafic conditions by donorsthat the capitsl must be maintained by the charity. 1.5 Income Income is Tècognised when the charity is legally entitled to it after any perfomance condth.ons have been met, the amounts can be measured reliably, and it is probable that income wll be ￿Ceived. Cast) donations are recognised on receipt. Other donations are recognised On￿ the charty has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to ¢Jonations received under Grft Aid or deeds of covenant is reeognised at the time of the donation. Page 17121 TRIPLE SKILLZ CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025 AccountSng pollcles Legacies are recognised on receipt or olherwse if the charity h85 been notififjd of an Impending dislribulion, the amount is known. and receipt is expected. If the amount is not known, the legacy is Irealed as a conlingenl asset. 1.6 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation to transfer economie benefit lo a third paty, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the oblig81ion can be measured reliably. Expenditure is classified by activity. The costs of each activity ale made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared eosls which contribute to more than one aclivty and support ¢osls which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the b8S15 of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.7 Cash and ¢a$h equtvalents Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-terni liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowngs in current liabilits"es. 1.8 Flnanclal instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of ils financial instruments. Financial instruments are recognised in th8 charity's balance sheet when the charty be¢omes paty lo the Contractual provisions of the instrument. Financial assets and liabilits.es are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a ng1 basis or lo realise the asset and settle the liability simultaneously. Bas1¢ financiTal assets Basic financial assets, which include debtors and cash and bank balance5, are ini118lly meaSU￿d at tfansaction price including transaction ￿$1$ and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, whère the transaction is measured at the present value of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. Bas1¢ financial Ilabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument Is measured al the present value of the future payments discounted al a market rale of interest. Financial liabilf(ies classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using Ihe effective interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classffied as cUr￿nt liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilits'es. Trade creditors are recognised initially at t￿nSactIon price and subsequently measured al amortised cost using the effeth'vè interest method. Page 18121 TRIPLE SKILLZ CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025 Accounting policies Derecognition of financial liabilities Financial liabilities are de￿cogniSed when the charty's contractual obligations expire or are discharged or cancelled. 1.9 Employeg benefits The cost of any unused holiday entitlement is recognise