London and South East Region {LASER) Education Foundation Limited Unaudited Annual Report and Financial Statements Year ended 31 July 2025 Company Lirnited by Guarantee Registration Number 11717470 IErvJland and Wales) Charity Re9iStratKin Number 1208278 (England and Wales) Contents Reports Reference and administrative information Trustees, report Independerbt Examiners report oll the financial statements Financial statements Statement of financial activities Balance sheet Principal accounting policies 12 Notes to the financial statements London and South East Region (LASER) Education Foundation Limited Reference and administrative infomiation Trustees Julie Anthe8 Asher-smith Mark Burnett Roger James Dawe David Gavin Eastgate Helen Mclntosh Helen Samantha Parrett Jacky Tiotto Rama Chandra Venchard Christine Anne Whafford Company Secretary Jennifef Pharo Registered address Bromley College Rookery Lane Bromley United Kingdom BR2 8HE Company registration number 11717470 (England and Wales) Charty registration number 1208278 (England and Wales> Independent Examiner Buzzacott Audit LLP 130 Wood Street London EC2V 6DL Bankers Santander Corporate & Commercial 2 Triton Square Regents Place United Kingdom NW1 3AN London and South East Region {LASERI Education Foundation Limited 1 Trustees. report Year to 31 July 2025 The Trustees who are also directors of the Charity for the purposes of the Companies Act. submit their annual TeF>Ort and the financial statements for the year ended 31 July 2025. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The Charity is a charitable company limited by guarantee with company registration number 11717470. 11 is registered with the Charity Commissioners under the Charities Ad with registration number 1208278. The Charity is part of the Elevare Civic Education Group comprising of London South East Colleges (LSEC) and London South East Academies Trust ILSEAT). Both LSEC and LSEAT are sponsors of LASER. Trustees The Trustees who served the Charity during the year of the reFX)rt and up lo the dale of the approv81 of the accounts {ex¢ept as shown) were as follows.. LASER Educatlon Foundatlon Board From 0110712024 0110812023 0110212023 0110212023 01102/2023 01102/2023 0110712024 10101/2024 NAME Helen Mcint05h Rama Venchard MBE David Eastgate Jacky Tiotto Christine Whatford CBE Roger Dawe Mark Burnett Julie Asher Smith Dr Helen Samantha Parrett CBE To 3110712025 01102/2023 n/a Recruitmenl and appointment of Trustees Potential new Trustees ale identified by the Group Search & Governance Committee and can be recruited through recommendation, self-referral, response to an adverb"sement, or referral from a recruiting partner. The Charty a￿ayS seeks lo ensure that the skills and experTrence of new Trustees are complementary lo those of existing BoaTd members or respond to identified skills gap5. The membgrs of the Foundation appoint Trustees. London and South East Region ILASERI Education Foundation Limited 2 Trustees, report Year lo 31 July 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT (conlinuod) Trustee induction and training The training and induction provided for new Tru51ees will depend upon their existing experience. Where necessary, the inducts'on process will provide training on charity, educational. legal and financial matters. All Trustees are provided with copies of proceduies, minutes, accounts. budgets, plans and other documents that they will need to undertake their role as Trustees. InductTron tends to be done informally and is tailored specificalty to the individual Trustees. All Trustees are subject to DBS and (rther suitakn'lity checks ori induction and re-eledion as appropriate Organisation structure and key managernent personnel The Key Management Personnel control the Charity at an operational level implementing the policies laid down by the Trustees and reporting back lo them. As a group, these personnel are responsible for the authorisalion of spending within delegated limits and agreed budgets. The KMP comprises the Group Principal & CEO, Group CFO & Deputy Group CEO and Group Chief of Staff arKI Governance Director. All three are unremunerated. Related parties Both London South East Colleges {LSEC) and London South East Academies Trust ILSEAD are sponsors of LASER AIMS AND OBJECTIVES Main objectives The Charity's objects are the advancement of education and training for the public benefft. and any such othei charitable purposes as the Trustees may determine that support this objective. The Charity is an innovative collaborats'on betseen London South East Colleg8s and London South East Academies Tiust. London South East Colleges has been successful in buildirig positive community impactthrough partnership projects (such as Good forME, Good for FEI and wants, London and South East Region {LASERI Education Foundation ￿mit8d 3 Trustees, report Year to 31 July 2025 together with the Trust, to scale the opportunity for positive community impact and improvement of social and econonic mobilty through edu¢alion. Alongside a thriving further and higher education college (London South East Colleges) and mU￿1- academy trust (London South Easl Academles Trust), the new Foundatlon is being developed to maximise the positive impact that education has on people's lives. The Foundation's work will.. Add value to and enhance the experience of children, yourwJ people, and teachers in ils schools and colleges and the wider community. Become self-sustaining through a targeted programme of fundraising and income generation, working wth other charities and the third sector, building on tx)th existing relationships and forging new partnerships. Be underpinned with high quality research and evidence led by expert partners and practitioners. Be co4esigned with learners, slakeholders, and expert partners to create shared approaches lo addressing the impact of social and economic disadvantage. Together wilh the College and the Trust, the Foundation will find local solutions that can have a national impact, in system leadership and in policy influencing, supporting thought leadership in the education landscape nationalty. Grant making policy The Chaiity approved a grant giving policy in 2025. The purpose of this policy is to outline how the Foundation administers and distributes grants in support of its mission.. to improve access lo education and life opportunities for Children, young people, and adukts from undersetved communities in London and the South East of England. The principles of the Foundation's grant-making is guided by the following prtnciples: Equity and Inclusion- We prioritise applicants from maiginalised or disadvantaged backgrounds. Impact: Grants musl support work that delivers measurable benefits in education, ￿rSonal development, or employment readiness. Transparency: All decisions will be fair, evidence-based, and clearly documented. Accountability: Grantees must meet agreed reporting requirements and demonsliate respDnsible use of funds. London and South East Region (LASER) Education Foundation Limited 4 Trustees, report Year to 31 July 2025 AIMS AND OBJECTIVES (continued) Principal risks and uncertainties There has been a recent challenge in June on the use of the 'LASER' name ty OCN South East, an awarding association. The name has been registered under the Charity classification for trademarks which has been accepted. However, this can be challenged up until the 8tTh of October. Risk of not making our income targets as we must rneet the criteria foT grant funding. This risk is mitigated through a cleaT plan to meet income targets and through prudent financial forecasting. Risk of not achieving planned financial performance forecasts as the Charity is in the early years of trading and needs lo establish a track Tecord to secure external sources of funding. This risk is miligaled through Ihe support of LSEC and LSEAT and through the use of resources. expertise and guidance from entib.es acTOSS the ElevaTe Education Group. ACTIVITIES. ACHIEVEMENTS AND PERFORMANCE A primary functlon of the Foundation is to raise addr¢ional funds to deliver life changing initiatives for our18a¥ners from bursaries and mentoring, to pioneering and wellbeing programmes in order to lift aspirations, remove barriers and open doors that might othefwtse be closed. This includes supporting the delivery of new enrichment programmes and out ofschool opportunities, investment in new facilities and equipment, innovation in learning and research and d&velopmgnt activity. Overall, the Foundation's work is to.. Become self-suslaining through a targeted progiamme of fiJndTaising and income generation, working with other charities and the third sector, building on bolh existing relationships and forging new partnerships. Be underpinned with high-quality research and evidence led by expert partners and practitioners. Be codesigned with learners, stakeholders and expert partners to create shared approaches to addressing the impact of social and economic disadvantage. Find local solutions that can have a national impact, in system leadership and in poli￿ influencing. supporting thought leadership in the education landscape nationally. The operations of the charity commenced in March 2025, with income generated largety through Grants and Fundraising Activities. London and South East Region (LASER) Education Foundation Limited 5 Trustees. report Year to 31 July 2025 FINANCIAL REVIEW Reserves policy and results for the year This is the first year of the Charty operating and its operations are entirety funded through grants. fijndraising acts'vities, and donations. In the financial year 2024125, the Charity generated an operating surplus of £21,000, exceeding the approved budget by £17.000. Total income for the year amounted to £53,000, of which £5,500 was restricted income for a specific donation earmarked for the development of an IT lab at Warien Road Primary School. The remaining £47,500 comprised unrestricted funds, largely sourced from. NCFE grant-£14,000 No Wrong Door grant- £10,000 Golf Day fundiaising event- £19,000 other fundraising activities- approximately £3,700, including the Climb the 02 and Leap into Action events. The Charity closed the year with a healthy cash balance of £25,000, without needing to draw down on tts loan facilities from LSEC and LSEAT, as had been anticipated in the oiiginal budget. ￿quIdity is expected lo remain strong throughout 2025126, with no requirement lo access the loan facility provided by its sponsors. The Trustees consider that maintaining reserves at Ihis level will provide sufficient flexibl￿ty to manage cash flow. respond to unforeseen events, and support the Charity's day-to-day activities. Assessment of going ton¢ern The Trustees have assessed the appropriateness of prepaiing the financial statements on a going con¢ern basis. As part of this assessmont, thay have considered whelher thère is any material uncertainties related to events or ¢onditions that may cast significant doubt on the Charity's ability to continue opeiating for the foreseeable future. Based on this Teview, the Trustees are sabsfied that the Charity has adeqLTrate iesources to continue in operational existence for at least twelve months from the date of appfoval of the financi81 statements. This conclusion is supwrted by the Charity's Current liquidity Posltion, robust cash flow forecasts, and access to a loan facility provided by its sponsors. Accordingly, the Trustees continue to adopt the going concern basis in preparing the financial statements. London and South East Region (LASER) Education Foundation Llmlted Trustees, report Year to 31 July 2025 Fundraising slalement Our Trustees fegularty review and agree our fundraising strategy to ensLFre it remains effective, ethical, and aligned with our mission. We are committed lo operating with integrity and in full compliance with Data Pioteclion legislation. We are transparent about our work, respecttul in all our communications, and committed to listening and responding to the people and communrties we serve. We uphold high stsndards in all our fundraising adivities and act fairty and responsibty at all b'mes. We extend our heartfelt thanks to the indNiduats, companies, charitable trusts. and foundations whose generosity enables us to rnake a meaningfvl impact through education on the lives of young people living in London and the South East. During the year ended 31 July 2025, the charty received no complaints about fundraising activities. PLANS FOR THE FUTURE In the year ahead, the charity will build on its nission by expanding its development projects and launching a new scholarship programme to support individuals in accessing opportunrties that will have a lasting impact on Iheir lives. A programme of events will run throughout the yeaT, including the Leap Into Action trust fundraising campaign and a Corporate Golf Day. both designed to raise awareness and vital funds. These initiatives will be supported through charitable trust funding and corporate sponsorship, ensuring the sustainability of our Work and enabling us to deliver meaningful outcomes in line with our objectives. PUBLIC BENEFIT The Trustees have considered the guidance issued by the Charty Commission in relation to public benefrt and believe that the activities undertaken during the year meet all the requirements of the public benefjt tests. London and South East Region (LASER) Education Foundation Limited 7 Trustees, report Yearto 31 Juty 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are also the difectois for purposes of company lawl are responsible for prepani I the Trustees, Annual Report and the financial statements in accoidance with applicable law and United Kingdom Accounting Standards (United Kingdom Geneially Accepted Accounting Practice). Company law requires the Trustees to prepare financi81 stslements 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 ir7come and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to-. select suitable accounting policies and then apply them consistentty., observe the methods and principles in in Accounting and Reporting by Charities.. Statement of Recommended Practice ISORPI applicable lo charities preparing their accDunts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102),. make judgements and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappiopriate lo piesume that the charitable company will continue in business. The Trustees are responsible for keeping propel and adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguafding the assets of the charitable company and hènce for taking reasonable steps for the prevention and detection of fraud and other irregularitses. In so far as the Trustees are aware.. Iheie is no relevant audit information of which the Gharrtable company's independent examiner is naware., and the Trustees have taken all steps that they ought to have taken to make themsefves aware of any relevant audit inf0m￿li0n and to establish that the auditor is aware of that information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparalion and diss•minalion of ffinancial statements may differ from legislation in othei jurisdiclions. Approved on behalf of the Board of Trustees by Helen Mcintosh Date.. 3 December 2025 London and South East Règlon ￿SER) Education Foundation Limited Independgnt examinerfs report 31 Juty 2025 Independentexaminerfs report to the Trustees of London and South East Region (LASER) Education Foundation Limited I report to the charity trustees on my examinats'on of the accounts of the company for the year ended 31 Juty 2025. which are set out on pages 10 to 11. Responsibilities and basis of report As the charity's trustees of the company (and also its directors for the purt%)ses of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Act'i. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I reFrt)rt in respect of my examination of your charity's accounts as carried out under section 145 of the Charitres Act 2011 {the '2011 Act,). In carrying out my examinats'on I have followed the Directions given by the Charity Commission under section 14515)(b) of the 2011 Act. Independent examinerfs report I have completed my examination. I confirm that no matters have come to my attention in connection with the examinats'on giving me cause to believe.. accounting records were not kept in rospect of the company as requifed by section 386 of tho 2006 Act., or 12) the accounts do not accord with those accounting records., or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 A other than any requirement that the accounts give a Ifue and fair, view which is not a matter Considered as part of an independent examination., or {4) the accounts have not been prepared in accordance with the methods and Principles of the Slalemenl of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021. I have no concerns and have come across no othei matters in connection with the examination to which attenlion should be drawn in this report in order lo enable a proper understsndlng of the accounts lo be reached. Catherine Biscoe, FCA Buzzacott Audit LLP 130 Wood Street London EC2V 6DL Date.. 16 December 2025 London and South East Region (LASER) Education Foundation Limited 9 ststement of financial activities lincluding income and expenditure account) Year to 31 Juty 2025 Unrestricted fund5 Year to 31 Pariod to 31 July 2025 July 2024 Notes Income from: Donation5 and legacies Charitable activities othèr trading activities Investments Total income 30.194 22,45S 532 30 53.212 Expenditure on: Raising funds Charitable activth'es Total expenditure 10,SS9 21,523 32,082 Net Income lexpenditurel and net n￿veMent in funds 21,130 Reconciliation of fiJnd5 Total fund balance5 brought forward at 1 August Total fund balances carried forward at 31 Jul 21,130 The Charity has no recognised gains or losses other than the resuAs foT the year as set out above. All of the activities of the charity are classed as continuing. The accompanying accounting policies and notes form an integral part of these financial ststements. London and South East Region (LASER) Education Foundation ￿Mited 10 Balance sheet 31 Juiy 2025 31 July 2025 31 July 2025 31 July 2024 31 July 2024 Notes Current assets Debtors Cash at bank and in hand Totsl currènt asset5 1,393 24,612 26,OOS Creditors.. amounts falling due wthin one year 4,87S 4￿75 Net current assets 21.130 Creditor¥- amounts falling due after rnore than one year T<>tal assets liabilities 21.130 The funds of the charity Unrestrided income funds.. Unrestricted eneral fund 21,130 21.130 These financial statements were approved by the Board of Trustees signed on their behav by.. JkQ Helen Mcintosh Trustee Date.. 3 December 2025 The principal accounting policies and notes to the financial statements on pages 12 to 16 form part of these financial statements. Company registration number 11717470 London and South East Region (LASER) Education Foundation ￿mit•d 11 Principal accounting policies 31 July 2025 Company status The Charity is a company limited by guaranttre. The Members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liat￿lIty in respect of the guarantee is Ilmited 10 £1 per mernber of the charity. Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021, (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. London and South East Region (LASER) Education Foundation Limited meets the definition of a public benefjt enlty under FRS 102. Assets 8nd liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounling p0￿'cY. The financial statements are piesented in sterling and are founded lo the neafesl pound. Assessment of going concern The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubl on the ability of the charity lo cont.nue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of approval of the financial statements. The Trustees conclude that there are no material uncertainties about the Charity's ability to continue and accordingty the financial statements are prepared on o going concern basis. Income Income is included in Ihe statement of financial 8Ctivttses {SOFAI when the Charity is legally entitled lo the income and il is piobable that the income will be received, and the amount Can be quanb.fied with reasonable accuracy. Expenditure Expenditure is recognised on an accrua￿ basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered arKJ is ieported as part of the expenditure lo which it relates. Grants payable Giants payable are accounted for in the period in which the perfoimance conditlons attaching the grant payment are mel or, where no performance cond¢lions apply, as soon as Ihere is a legal or constructive obligation committing the charity to that grant, il is probable that settlement will be required and the amount of the obligation can be measured reliably. London and South East Region (LASER) Educatlon Foundation Limited 12 Principal accounting pollcles 31 Juty 2025 Expenditure (continued) Other expenditure Charitable expenditure comprises those ¢osts incurred by the Charity in the delivory of activities and services for its benefictaiies. It includes those costs that can be allocated directly lo such activities and Ihose costs of an indirect nature necessary lo support them. While raising funds ¢osls include support costs such as sO￿are licences and marketing costs. Governance costs include Ihose costs associated with meeting the constitutional and statutory requirements of the Charity and include Ihe independent examination fees and costs linked to the strategic management of the charity. All costs are allocated ba￿een the experlditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relab.ng to a particular activity ale allocated dire¢lty, others are apportioned on an appropriate basis. Items of expenditure invofving rnore than one cost category are apportioned as appropriate. Fund accounting UnfeslTi¢ted fund5 are available for use al the discretion of the Trustees in furtherance of the general objectives of the chatity and which have not been designated for other purposes. Designated funds comprise unrestricted fijnds that have been set aside by the Trustees fo¥ particular purposes. Reslricled funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particulai purposes. The cost of raising and administering such funds are charged against the s￿¢IfiC fund. Financial instruments The company onty has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequent measured at their settlement value. Crilical judgments and eslimates There are no significant areas of judgement or key assumptsons thal effect items in the financial statements with Taspecl to the next reFX)rting period for the year ended 31 JU￿ 2026. Cashflow exernption The Charity has taken th& exemption under the ChaTities SORP (FRS 102), as a smaller challty, not to prepare a Statement of Cash Flows. London and South East Region ILASERI Education Foundation Limited 13 Notes to the Financial Staternents Year to 31 JU￿ 2025 1 Income from donations anfl legaciesl 2025 2024 NCFE No Wrong Door Golf Day Carlson Tse Donation other 14,070 10,OL 19.054 5,500 4.588 53.212 2 Expenditure on raising funds 202S 2024 Raising Funds 10,559 10.559 3 Expenditure on charbtsble activities 2025 2024 Grants made Grants awarded during the year 5.500 Support costs Bank charges Insurance Sundry expenses stationery. packing and advertising Travel and subsistence Administration fees Other professional fees 10,623 16.123 >vernan¢e costs Independent Exarniners fèes S,400 21.523 London and South East Region (LASER) Education Foundation Limited 14 Notes to the Financial Statements Year lo 31 Juty 2()25 4 Staff costs and related party transactions Employees The charity did not have any employees during the ygar {2024: none). Key managementpersonnel remuneration The key management personnel of the charity comprise the Trustees. They did not receive any rernuneralion or benefts in k'¢nd. Payments to Trustgos and connectod persons No Trustee or person with a family or business connection with 8 Trustee, received remuneration in the year, {2024.' none) diiectty 01 indirectly, from esther the Charity or an institution cont¥olled by the Charity. There was a related party transfer of £5.5k to LSEAT being a restricted donation specificalty for IT support at Warren Road Primary school during the period of the report12024'. no other transactions). Debtors.. amounts falling due within one year London and South East Region ILASERI Education Foundation Limited 1 S