## Trustees’ Annual Report for the period 03 September 2024 – 05 April 2025
## **Reference and Administrative Details**
**Charity name:** Future Ready Foundation
**Registered charity number:** 1209860
**Principal address:** 20 Arch Road, Coventry, CV2 5AB
**Trustees during the reporting period:** Paul McLaughlin, Caroline Pardoe, Kevin Maton
**Directors:** Louise Campton (CEO) and Mark Yorke (COO)
**Banker, solicitor and auditor/independent examiner:** Not applicable for this period (no financial transactions took place)
## **Structure, Governance and Management**
Future Ready Foundation is a registered charity established to advance education by supporting young people to develop future-ready skills. The charity is governed by its trust deed/constitution. Day ‑ to ‑ day oversight during the period was undertaken by the directors, with no employees or paid officers in post. Policies on decision-making, risk management, and financial controls were drafted during the period and will be finalised prior to programme delivery in September 2025.
## **Objectives and Activities**
Charitable purposes: To advance education for the public benefit by designing and delivering programmes that develop employability, digital, and life skills among young people, and by supporting educators and employers to collaborate effectively.
Public benefit: During this initial setup period, activities focused on establishing the foundations required to deliver public benefit from September 2025.
## **Achievements and Performance (03/09/2024 – 05/04/2025)**
- Incorporation and initial governance setup, including drafting a governance framework, risk register, and safeguarding approach.
- Stakeholder engagement with schools/colleges, local employers, and sector partners to shape programme design.
- Curriculum/programme outline drafted for delivery from September 2025, with pilot planning initiated.
- Volunteer mobilisation: Founders Louise Campton and Mark Yorke contributed their time on an unpaid basis to establish the charity and prepare for operations.
## **Volunteers**
The charity’s setup work was delivered entirely by volunteers. During this period, the two founding directors—Louise Campton and Mark Yorke—volunteered their time to establish the governance and operating model, and to develop initial programme plans. No expenses were paid.
## **Financial Review**
The charity did not receive income or incur expenditure during the reporting period. There were no assets, liabilities, reserves, or restricted funds at the period end. As a result, the trustees have not appointed an independent examiner or auditor for this period.
## **Reserves Policy**
Given the absence of income and expenditure in this setup phase, the charity held no reserves at 05 April 2025. The trustees intend to adopt a reserves policy prior to the commencement of activities from September 2025, targeting an operating reserve equivalent to an appropriate number of months of core costs once operations commence.
## **Going Concern and Principal Risks**
The trustees consider the charity to be a going concern based on planned fundraising and partnership development ahead of programme delivery from September 2025. Key risks identified include funding uncertainty, delivery capacity, and safeguarding compliance. Mitigations include phased rollout, diversified income plans, partnership agreements, and adoption of robust policies and controls.
## **Plans for Future Periods (from September 2025)**
‑ The charity plans to launch its first programmes in the 2025/26 academic year, focusing on future ready skills development in partnership with education providers and employers. Priorities include completing policy adoption, trustee and volunteer training, piloting programmes, securing initial grant and donation income, and establishing monitoring and evaluation to measure outcomes.
## **Statement of Trustees’ Responsibilities**
The trustees are responsible for preparing the Trustees’ Annual Report in accordance with applicable law and the Charities SORP, and for keeping proper records that disclose with reasonable accuracy the financial position of the charity. The trustees are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Registered Charity Number 1209860
## **Approval of the Trustees’ Annual Report**
This report was approved by the trustees on the 5[th] of March 2026 and signed on their behalf by:
|**Name: Paul McLaughlin (Trustee)**|**Signature:**
PMcLaughlin|
|---|---|
|**Name: Caroline Pardoe (Trustee)**|**Signature:**|
|**Name: Kevin Maton (Trustee)**|**Signature:**|
Registered Charity Number 1209860
## Notes
Statement of Financial Activities: Year Ended 5[th] April 2025
Income: Notes
Donations and legacies 1 Grants Total Income
Total Income
Expenditures on: Raising Funds Charitable Activities 2 Other Costs Total Expenditures
Net income/(expenditure)
Transfers between funds
Other recognised gains/(losses): Gains/(losses) on revaluation of fixed assets Gains/(losses) on investment assets Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward at 5 April
|2025
Unrestricted
Funds
2025
Restricted
Funds
2025
Total
Funds
~~£~~
~~£~~
~~£~~
1
-
-
-
1
~~-~~
~~-~~
~~-~~
~~-~~
~~-~~
~~-~~
-
-
-
2
-
-
-
2
-
-
-
2
-
-
-|2025
Unrestricted
Funds
2025
Restricted
Funds
2025
Total
Funds
~~£~~
~~£~~
~~£~~
1
-
-
-
1
~~-~~
~~-~~
~~-~~
~~-~~
~~-~~
~~-~~
-
-
-
2
-
-
-
2
-
-
-
2
-
-
-|
|---|---|
||-
-
-|
|1
1||
||~~-~~
~~-~~
~~-~~|
|||
|||
||~~-~~
~~-~~
~~-~~|
|||
||-
-
-
-
-
-|
|||
|2
2
2||
||-
-
-|
||-
-
-|
||-
-
-
-
-
-|
|||
|8||
||-
-
-
-
-|
|||
|||
||-
-
-
-
-
-|
|||
## Statement of Financial Position: Year Ended 5[th] April 2025
|Notes
Fixed Asset
Tangible assets
3
Total Fixed Asset
Current Assets
Prepayments
Accrued Income
Cash at bank and in hand
Other Debtors
Total Current Assets
Creditors: amounts falling due within one year
Other Creditors
Other Current Liabilities
Total Creditors: amounts falling due within
one year
Net current assets (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
Other Non-Current Liabilities
Total Creditors: amounts falling due after
more than one year
Total net assets (liabilities)
Capital and Reserves
Restricted Reserves
General Reserves
Surplus / (Deficit) for the year
Member's Fund|2025|
|---|---|
||-
-|
||-
-
-
-
-
-
-
-
-
-|
||-
-
-
-
-
-|
||-
-|
||-
-|
||-
-
-
-|
||-
-|
|||
||-
-|
||-
-
-
-
-
-|
||-
-|
Accounting Policies
## Scope and Basis of the Financial Statements
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities published in March 2005.
## Income
Revenue is recognised in the period in which the charity is entitled to receipt once the amount can be measured with reasonable certainty.
## Expenses
Expenditure is included in the Statement of Financial Activities (SoFA) on an accruals basis and is recognised at the point when a legal or constructive obligation arises. The majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## Fixed assets
Fixed assets with an individual purchase of £500 or more are capitalised and stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
Fixtures and fittings 25% SL Equipment 25% SL Vehicles 25% SL
## Notes
|1.
Income
Income
Donations and legacies
Total donations & legacies
2.
Expenditures
Raising Funds
Event costs
Premises
Utilities
Travel
Motoring & transportation
Insurance
Administration
Advertising
Operations
Professional fees and services
Finance Charges
Staff Costs
Depreciation
Total Cost of Generating Funds
3.
Tangible assets
Property
Cost
£
At 6thApril 2024
-
Additions
-
Disposals
-
Revaluation
-
At 5thApril 2025
-|2025
-
-
2025
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Vehicles
£
-
-
-
-
-|||
Fixtures
&
Fittings
£
-
-
-
-
-|Total
£
-
-
-
-|
|---|---|---|---|---|---|
|||2025||||
|||
-|-|||
|||
-|-|||
|||||||
|||2025||||
|||
-
-
-
-
-
-
-
-
-
-
-
-
-|-
-
-
-
-
-
-
-
-
-
-
-
-|||
|||
-|-|||
||||Equipment
£
-
-
-
-
-|||
||||||-|
Depreciation
## Notes
At 6[th] April 2024 Charge for the year Disposals At 5[th] April 2025
|th||||||
|---|---|---|---|---|---|
|At 6April 2024
Charge for the year
Disposals
At 5thApril 2025
Net Book Value
At 6thApril 2024
At 5thApril 2025|-
-
-
-
-
-
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