## **THE EXPERTS FOUNDATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 1 JUNE 2025** ## **THE EXPERTS FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr S W Newman P J Deery (Appointed 14 October 2024) K L Bailey S L Thornicroft **Charity registration** England and Wales **Charity Number** 1210395 **Accountants** BK Plus Limited Azzurri House Walsall Road Aldridge Walsall England WS9 0RB ## **THE EXPERTS FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1| |Accountants' report|2| |Statement of financial activities|3| |Balance sheet|4| |Statement of cash flows|5| |Notes to the financial statements|6 - 8| ## **THE EXPERTS FOUNDATION** ## **REPORT** ## _**FOR THE PERIOD ENDED 1 JUNE 2025**_ The trustees present their annual report and financial statements for the period ended 1 June 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". ## **Objectives and activities** The objectives of the charity are for the public benefit to advance the education, health, and welfare of children and young people to age 18 years by the provision of grants to organisations carrying out these charitable objectives and who are dedicated to enhancing the well-being and future prospects of children and young people, fostering their physical and mental health and facilitating their access to quality educational opportunities ## **Financial review** ## _Reserves policy_ It is the policy of the that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the period. ## **Structure, governance and management** The trustees who served during the period and up to the date of signature of the financial statements were: Mr S W Newman P J Deery (Appointed 14 October 2024) K L Bailey S L Thornicroft The report was approved by the Board of . Mr S W Newman 19 March 2026 - 1 - ## **THE EXPERTS FOUNDATION** ## **CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE EXPERTS FOUNDATION FOR THE PERIOD ENDED 1 JUNE 2025** In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of The Experts Foundation for the period ended 1 June 2025, which comprise the statement of financial activities, the cash flow statement and the related notes from the charity’s accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/rulebook.html. This report is made to the charity's , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Experts Foundation and state those matters that we have agreed to state to the charity's , as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/ dam/ACCA_Global/Technical/fact/tf-audit-exempt-companies-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Experts Foundation and the charity's as a body for our work or for this report. It is your duty to ensure that The Experts Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The Experts Foundation. You consider that The Experts Foundation is exempt from the statutory audit requirement for the period, and is not required to obtain an independent examiner's report. We have not been instructed to carry out an audit or a review of the financial statements of The Experts Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. ## **BK Plus Limited** Chartered Certified Accountants Azzurri House Walsall Road Aldridge Walsall WS9 0RB England 19 March 2026 - 2 - ## **THE EXPERTS FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE PERIOD ENDED 1 JUNE 2025**_ |||**Unrestricted**| |---|---|---| |||**funds**| |||**2025**| ||**Notes**|**£**| |**Income from:**||| |Donations and legacies|**2**|22,921| |**Total income**||22,921| |**Net income and movement in funds**||22,921| |**Reconciliation of funds:**||| |Fund balances at 9 October 2024||-| |**Fund balances at 1 June 2025**||22,921| The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities. - 3 - ## **THE EXPERTS FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 1 JUNE 2025**_ |**Notes**
**Current assets**
Cash at bank and in hand
**Net current assets**
**The funds of the**
Unrestricted funds
**5**|**2025**
**£**
22,921|**£**
22,921| |---|---|---| |||22,921| |||22,921| The financial statements were approved by the on 19 March 2026 Mr S W Newman - 4 - ## **THE EXPERTS FOUNDATION** ## **STATEMENT OF CASH FLOWS** ## _**FOR THE PERIOD ENDED 1 JUNE 2025**_ |**2025**
**Notes**
**£**
**Cash flows from operating activities**
Cash generated from operations
**7**
**Net cash generated from investing activities**
**Net cash generated from financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of period
**Cash and cash equivalents at end of period**|**£**
22,921
-
-| |---|---| ||22,921
-| ||22,921| - 5 - ## **THE EXPERTS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE PERIOD ENDED 1 JUNE 2025**_ ## **1 Accounting policies** ## **Charity information** The Experts Foundation is a a charity for the benefit of the public to advance the education, health and welfare of children. ## 1.1 **Reporting period** FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ## **1.2 Basis of preparation** The financial statements have been prepared in accordance with the 's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.3 Going concern** At the time of approving the financial statements, the have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.4 Charitable funds** Unrestricted funds are available for use at the discretion of the in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the . ## **1.5 Income** Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. - 6 - ## **THE EXPERTS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 1 JUNE 2025**_ ## **1 Accounting policies** **(Continued)** Legacies are recognised on receipt or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.6 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled. ## **1.8 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide termination benefits. - 7 - ## **THE EXPERTS FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE PERIOD ENDED 1 JUNE 2025**_ ## **2 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|| ||**£**|**£**| |Donations and gifts|22,921|-| |**Employees**||| |The average monthly number of employees during the period was:||| |||**2025**| |||**Number**| |Total||-| ## **3 Employees** ## **4 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **5 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At 9 October**
**2024**
**Incoming**
**resources**
**At**
**£**
**£**
General funds
-
22,921
**6**
**Related party transactions**
There were no disclosable related party transactions during the period.
**7**
**Cash generated from operations**
Surplus for the period
**Cash generated from operations**|**1 June**
**2025**
**£**
22,921| |---|---| ||**2025**
**£**
22,921| ||22,921| - 8 -