Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Company registration number: 15101420 Charity registration number: 1209485
Roots Academy
(A company limited by guarantee) Annual Report and Financial Statements
for the Year Ended 31 August 2025
Nasir Rafiq Dua Governance 123-131 Bradford Street Digbeth Birmingham B12 0NS
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
| Contents | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Strategic Report | 2 to 3 | |
| Trustees' Report | 4 to 6 | |
| Statement of Trustees' Responsibilities | 7 | |
| Independent Examiner's Report | 8 | |
| Statement of Financial Activities | 9 | |
| Balance Sheet | 10 | |
| Notes to the Financial Statements | 11 to 20 |
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Reference and Administrative Details
Trustees
Haroun Asghar ((appointed 30 March 2026) Junaid Mohmedsalim Mujaver (appointed 30 July 2025) Shujahat Aslam (appointed 30 July 2025) Hammad Masood (appointed 7 September 2024) Mussa Adil Butt (7 September 2024) Hisham Jafar Ali (resigned 8 February 2026)
Principal Office
71-75 Shelton Street Covent Garden London WC2H 9JQ
The charity is incorporated in United Kingdom.
Company Registration Number
15101420
Charity Registration Number
1209485
Independent Examiner
Nasir Rafiq Dua Governance 123-131 Bradford Street Digbeth Birmingham B12 0NS
Page 1
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Strategic Report for the Year Ended 31 August 2025
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 August 2025, in compliance with s414C of the Companies Act 2006.
Achievements and performance
A summary of the main achievements of the charity during the year:
(a) Reached an estimated 1,800 students through in-person educational sessions during the reporting period, with over 1,000 positive testimonials received through formal feedback processes
(b) More than doubled the campus presence to over 45 university Islamic Societies, up from approximately 20 in the prior year
(c) Attracted over 300 paid enrolments for the inaugural Essentials Online course, with students attending from all over the world
(e) Grew the volunteer team to approximately 90 individuals and the instructor base to over 40, and made the charity's first full-time staff appointment in operations.
(f) Successfully delivered and launched the Instructor Platform, providing a dedicated digital hub for content delivery and instructor support
(g) Strengthened organisational governance and broadened access to institutional funding sources
(h) Raised funds from a diversified funding base comprising regular giving, one-off donations, physical collections, institutional grants, and major donor contributions
(i) Expanded internationally, with programmes operational in the Republic of Ireland and pilot activities underway in the United States and Canada
(j) Secured endorsements from prominent scholars, providing external validation of the charity's educational approach and methodology
Financial review
During the year, the charity raised £339.9k (2024: £74.3k) and spent £134.8k (2024: £4.8k). The charity made a net surplus of £205.1k (2024: net surplus £69.5k).
The charity carry forward reserves are £274.6k (2024: £69.5k)
Policy on reserves
The charity's liquid reserves as at year end are £278k (2024: £69k). These are sufficient to meet the charity's ongoing immediate operational expenses.
Page 2
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Strategic Report for the Year Ended 31 August 2025
Principal funding sources
The charity's principal sources of income during the year were voluntary donations (around 90% of total income), supplemented by sales of educational products and services (around 10%). Within voluntary income, the most significant sources were:
-
Donations from high net-worth individuals (the largest single source, representing approximately 37% of total income)
-
Online recurring and one-off donations, (approximately 30%)
-
Grants and organisational sponsorships (approximately 16%)
-
Physical collections at mosques and Isocs (approximately 7%)
Trading income was generated through Roots Essentials Online (our paid online offering of our core free in-person offering), consulting and organisational services, the Roots for Professionals programme, curriculum and teacher training sales, and workbook sales.
Plans for future periods
Aims and key objectives for future periods
Strategic priorities for the coming years and anticipated development and challenges:
-
Strengthening the quality of faith-based education provision in the UK
-
Strengthening the instructor base and relationship management approach
-
Building digital infrastructure to enhance the student journey
-
Improving the branding, marketing, and reach of services to benefit more recipients
-
Developing the processes and governance to engage global partners
-
Drive global expansion efforts, including entry into Australia
-
Broaden engagement to increase student reach in existing campuses
-
Strengthen organisational capacity through strategic growth in marketing, education, and operational staffing
Principal risks and uncertainties
Risk Management
The trustees have a risk management strategy which comprises:
-
An annual review of the principal risks and uncertainties that the charity undertakes.
-
The establishment of policies, systems and procedures to mitigate those risks identified in the annual review.
-
The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
29 May 2026
The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Haroun Asghar Trustee
Page 3
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2025.
Objectives and activities
Objects and aims
To advance the religion of Islam in particular through:
(a) providing Islamic education to members of the public in the form of regular classes, workshops, weekend retreats, other such residential programmes, and online content.
(b) providing teacher training, curriculum material, and ancillary services. c) promoting an understanding of Islam.
Objectives, strategies and activities
The main activities undertaken during the year:
(a) Facilitated in-person classes hosted by University student Islamic Societies (or equivalent) across the United Kingdom and Republic of Ireland, whilst piloting programmes in Canada and the USA
(b) Organised and ran in-person full day seminars with specially designed additional content.
(c) Delivered online courses covering the same material as the primary in-person offering
(d) Conducted in-person team gatherings and instructor training events
(e) Provided adapted, bespoke offering based on the same curriculum to working professionals in partnership with their workplace’s Muslim Network
(f) Designed and piloted a bespoke, adapted Mosque offering based on the same curriculum
(g) App and digital systems development and improvement
Public benefit
Covered in the achievement and performance section.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Nature of governing document
Roots Academy is a charitable company, incorporated on 29 August 2023 (Company number: 15101420). The company registered with the Charity Commission on 07 August 2024 (Charity number: 1209485.
Recruitment and appointment of trustees
Following appointment, new trustees are introduced into their role and given copies of the governing instrument, existing policies and procedures of the charity. A number of publications from the Charities Commission will be provided including the guidance on charities and public benefit and on the advancement of religion for public benefit. This will ensure all trustees are aware and familiar with the scope of their responsibilities under the Charities Act.
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Roots Academy
Trustees' Report
Organisational structure
The charity directors otherwise known as trustees are responsible for the general control and management of charity.
The trustees meet on a monthly basis via various means of communication, be that via online meetings or physical meetings and are responsible for all decisions taken in relation to running the Charity. To assist in the smooth running of the charity the trustees established a Leadership Team from within the volunteer base to help oversee the various operations and functions of the Charity
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
Research and development
The charity has developed an in-house teaching platform to assist teachers and students.
Page 5
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Trustees' Report
29 May 2026
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Haroun Asghar Trustee
Page 6
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Roots Academy for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
29 May 2026
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Haroun Asghar Trustee
Page 7
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Independent Examiner's Report to the trustees of Roots Academy
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2025 which are set out on pages 9 to 20.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Roots Academy (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Roots Academy are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since Roots Academy's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Roots Academy as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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 accounts to be reached.
...................................... Nasir Rafiq ICAEW
Dua Governance 123-131 Bradford Street Digbeth Birmingham B12 0NS
29 May 2026
Date:.............................
Page 8
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Statement of Financial Activities for the Year Ended 31 August 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted Total |
||
|---|---|---|
| funds 2025 |
||
| Note | £ £ |
|
| Income and Endowments from: | ||
| Donations and legacies 3 |
248,140 248,140 |
|
| Charitable activities 4 |
70,307 70,307 |
|
| Other income | 21,474 21,474 |
|
| Total income | ||
| 339,921 339,921 |
||
| Expenditure on: | ||
| Raising funds 5 |
(994) (994) |
|
| Charitable activities 6 |
(133,853) (133,853) |
|
| Total expenditure | ||
| (134,847) (134,847) |
||
| Net income | ||
| 205,074 205,074 |
||
| Net movement in funds | ||
| 205,074 205,074 |
||
| Reconciliation of funds | ||
| Total funds brought forward | ||
| 69,510 69,510 |
||
| Total funds carried forward 14 |
||
| 274,584 274,584 |
||
| Unrestricted Total |
||
| funds 2024 |
||
| Note | £ £ |
|
| Income and Endowments from: | ||
| Donations and legacies 3 |
72,592 72,592 |
|
| Other income | 1,710 1,710 |
|
| Total income | ||
| 74,302 74,302 |
||
| Expenditure on: | ||
| Charitable activities 6 |
(4,792) (4,792) |
|
| Total expenditure | ||
| (4,792) (4,792) |
||
| Net income | ||
| 69,510 69,510 |
||
| Net movement in funds | ||
| 69,510 69,510 |
||
| Reconciliation of funds | ||
| Total funds carried forward 14 |
||
| 69,510 69,510 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 14.
Page 9
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
(Registration number: 15101420) Balance Sheet as at 31 August 2025
| 2025 2024 |
|
|---|---|
| Note | £ £ |
| Current assets | |
| Cash at bank and in hand 12 |
278,136 69,510 |
| Creditors: Amounts falling due within oneyear 13 |
|
| (3,552) - |
|
| Netassets | |
| 274,584 69,510 |
|
| Funds of the charity: | |
| Unrestricted income funds | |
| Unrestricted funds | 274,584 69,510 |
| Total funds 14 |
|
| 274,584 69,510 |
For the financial year ending 31 August 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 9 to 20 were approved by the trustees, and authorised for issue on 29 May 2026.................... and signed on their behalf by:
......................................... Haroun Asghar Trustee
Page 10
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
1 Charity status
The charity is limited by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 71-75 Shelton Street Covent Garden London WC2H 9JQ
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Roots Academy meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 11
Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
- 3 Income from donations and legacies
| 3 Income from donations and legacies |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | |||
| Total | Total | ||
| General | 2025 | 2024 | |
| £ | £ | £ | |
| Donations and legacies; | |||
| Donations from individuals | 248,140 | 248,140 | 72,592 |
| 248,140 | 248,140 | 72,592 |
4 Income from charitable activities
| 4 Income from charitable activities |
|
|---|---|
| Unrestricted | |
| funds | |
| Total | |
| General 2025 |
|
| £ £ |
|
| Grants | 40,364 40,364 |
| Workbook | 874 874 |
| Consulting Income | 11,960 11,960 |
| Course Sales | 17,109 17,109 |
| 70,307 70,307 |
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
- 5 Expenditure on raising funds
| 5 Expenditure on raising funds |
|
|---|---|
| Unrestricted | |
| funds | |
| Total | |
| General 2025 |
|
| Note | £ £ |
| Donations | 994 994 |
| Total 2025 |
|
| £ | |
| 6 Expenditure on charitable activities |
|
| Activity | |
| undertaken Total |
|
| directly 2025 |
|
£ £ |
|
| Technology, tools and platforms | 46,725 46,725 |
| Retreats/Team days | 17,944 17,944 |
| Teaching cost | 13,529 13,529 |
| Workbook | 10,366 10,366 |
| Events | 8,114 8,114 |
| Travel & Accommodation | 7,888 7,888 |
| Postage | 7,532 7,532 |
| Operations Employment | 6,979 6,979 |
| Professional services | 4,544 4,544 |
| Marketing | 2,367 2,367 |
| Recognition & Engagement | 2,360 2,360 |
| Podcasts | 2,094 2,094 |
| Storage | 1,800 1,800 |
| Other | 1,611 1,611 |
| 133,853 133,853 |
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
7 Analysis of governance and support costs
Governance costs
| Governance costs | |||
|---|---|---|---|
| Unrestricted | |||
| funds | |||
| Total | |||
| General | 2025 | ||
| £ | £ | ||
| Independent examiner fees | |||
| Examination of the financial statements | 2,600 | 2,600 | |
| Legal fees | 2,024 | 2,024 | |
| 4,624 | 4,624 |
8 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
| 2025 | |
|---|---|
| £ | |
| Staff costs during the year were: | |
| Wages and salaries | 6,226 |
| Social securitycosts | 753 |
| 6,979 |
No employee received emoluments of more than £60,000 during the year.
10 Independent examiner's remuneration
2025 £ Examination of the financial statements 2,600
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
| 12 Cash and cash equivalents |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Cash at bank | 278,136 | 69,510 |
| 12 Cash and cash equivalents |
12 Cash and cash equivalents |
12 Cash and cash equivalents |
12 Cash and cash equivalents |
|---|---|---|---|
| 2025 2024 |
|||
| £ £ |
|||
| Cash at bank 278,136 69,510 |
|||
| 13 Creditors: amounts falling due within one year |
|||
| 2025 | |||
| £ | |||
| Other creditors | 3,552 | ||
| 14 Funds |
|||
| Balance at 1 September 2024 Incoming resources |
|||
| Balance at | |||
Resources |
31 August |
||
expended |
2025 |
||
| £ £ |
£ |
£ |
|
| Unrestricted funds | |||
| General 69,510 339,921 (134,847) 274,584 |
|||
| Balance at | |||
| Incoming Resources 31 August |
|||
| resources expended 2024 |
|||
| £ £ £ |
|||
| Unrestricted funds | |||
| General | |||
| 74,302 (4,792) 69,510 |
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Docusign Envelope ID: 892B0A13-A6C6-84FF-8083-EF80EE0AD8F4
Roots Academy
Notes to the Financial Statements for the Year Ended 31 August 2025
| 15 Analysis of net assets between funds |
|
|---|---|
| Unrestricted | |
| funds | |
| Total | |
| General funds |
|
| £ £ |
|
| Current assets | 278,136 278,136 |
| Current liabilities | (3,472) (3,472) |
| Total net assets | |
| 274,664 274,664 |
|
| Unrestricted | |
| funds | |
| Total funds at 31 August |
|
| General 2024 |
|
| £ £ |
|
| Current assets | 69,150 69,150 |
Page 20