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|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2to8|
|Statement of Trustees' Responsibilitics|9|
|Independent Examiner's Report|10|
|Statement ofFinancial Activities|11|
|Balance Sheet|12|
|Notes to the Financial Statements|1310 24|
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|Charity Registration Number|266071|
|---|---|
|Principal Office|Jactin House|
||24 Hood Street|
||Ancoats|
||Manchester|
||M4 6WX|
|Trustees|Professor Stuart Ralston, Chair|
||Professor Robert Layfield, Vice Chair|
||Professor Graham Russell, Honorary President|
||Dr Sheelagh Farrow|
||Ms Amanda Sherwood|
||Ms Kely Burman|
||ProfessorJeremy Mark Wilkinson|
||Ms Eve Berry|
||Dr Faizanur Rahman|
||Mr Mohamed El Erian|
||Mr Alan Martin|
||Dr Stephen Tuck, appointed 25 September 2025|
|Independent Examiner|Helen Binns FCA
Menzies LLP|
||One Express|
||1 George Leigh Street|
||Manchester|
||M4 SDL|
|Bankers|Barclays Bank plc|
||1 Market Street|
||Bolton|
||BL1 3NJ|
|Investment Managers|Evelyn Partners|
||Royal Liver Building|
||Pier Head|
||Liverpool
L3 INY|
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|||2025|2024|
|---|---|---|---|
||Note|£|£|
|Fixed assets||||
|Intangible assets|12|16,814|29,170|
|Tangible assets|13|1,023|1,203|
|Investments|14|510,420|602,517|
|||528,257|632,890|
|Current assets||||
|Debtors|15|404|23,628|
|Cash at bank and in hand|16|51,644|56,216|
|||52,048|79,844|
|Creditors: Amounts falling duewithin oneyear|17|(38,662|(129,445|
|Net current assets/(liabilities)||13,386|(49,601|
|Net assets||541,643|583,289|
|Funds ofthecharity:||||
|Unrestricted income funds||||
|Unrestricted funds||541,643|583,289|
|Total funds|18|541,643|583,289|
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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2025|2024|
||Note|£|£|
|Income and Endowments from:||||
|Donations and legacies|2|67,937|40,517|
|Other trading activities|3|22,497|20,392|
|Investment income|4|10,755|6,393|
|Total income||101,189|67,302|
|Expenditure on:||||
|Raising funds|5|43,262|39,753|
|Charitable activities|6|124,237|130,284|
|Total expenditure||167,499|170,037|
|Losses/(gains) on investment assets||(24,664)|(25,585)|
|Net expenditure||(41,646)|(77,150)|
|Net movement in funds||(41,646)|(77,150)|
|Reconciliation offunds||||
|Total funds brought forward||583,289|660,439|
|Total funds carried forward|18|541,643|583,289|
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|2|Income from donations and legacies|||
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2025|2024|
|||£|£|
|Donations and legacics;||||
||Donations from individuals|8,211|8,438|
||Legacies|58,797|33,083|
||Gift aid reclaimed|929|1,933|
|Grants, including capital grants;||||
||Grants from other charities||(2,937)|
|||67,937|40,517|
|3|Income from other trading activities|||
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2025|2024|
|||£|£|
|Trading income;||||
||200 Club|4,505|4,525|
|Membership subscriptions||3,125|4.435|
|Sundry Merchandise||32|27|
|Sundry Fundraising||14,835|11,405|
|||22,497|20,392|
|4|Investment income|||
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2025|2024|
|||£|£|
|Interest receivable and similar income;||||
||Interest receivable on bank deposits|534|1,264|
|Other income from fixed asset investments||10,221|5,129|
|||10,755|6,393|
|5
Expenditure on raising funds|||||
|---|---|---|---|---|
|||||Unrestricted|
||||Allocated|funds|
||Direct|costs|support costs|2025|
||£||£|£|
|Costs oftrading activitics||7,860|33,421|41,281|
|Investment management costs||1,981||1,981|
|||9,841|33,421|43,262|
|||||Unrestricted|
||||Allocated|funds|
||Direct|costs|support costs|2024|
||£||£|£|
|Costsoftrading activities||5,021|31,319|36,340|
|Investment management costs||3,413||3413|
|||8,434|31,319|39,753|
||Activity|||||
|---|---|---|---|---|---|
||undertaken
directly|Grant funding
ofactivity||Activity
support costs|2025|
||£|£||£|£|
|Support and raising awareness|37,746|||81,720|119,466|
|Research||(5,825||10,596|4,771|
||37,746|(5,825||92,316|124,237|
||Activity|||||
||undertaken|Grant funding||Activity||
||directly|ofactivity||support costs|2024|
||£|£||£|£|
|Support and raising awareness|51,186|||86,783|137,969|
|Research||(21,495||13,810|(7,685|
||51,186|(21,495|3|100,593|130,284|
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|Support costs allocated to cha|ritable activities||||
|---|---|---|---|---|
|||||Unrestricted|
|||Governance||funds|
|||costs|Support costs|2025|
||Basis ofallocation|£|£|£|
|Staffcosts|Stafftime|13,246|82,460|95,706|
|Office costs|Stafftime||5,573|5,573|
|Stafftraining|Stafftime||95|95|
|IT costs|Stafftime||2,718|2,718|
|Depreciation|Stafftime||12,536|12,536|
|Bank charges|Stafftime||103|103|
|Insurance|Stafftime||1,625|1,625|
|Cost ofTrustce meetings|Stafftime|3,265||3,265|
|Accountancy fees|Stafftime|3,756||3,756|
|||20,267|105,110|125,377|
|||||Unrestricted|
|||Governance||funds|
|||costs|Support costs|2024|
||Basis ofallocation|£|£|£|
|Staffcosts|Stafftime|13,047|81,126|94,173|
|Office costs|Stafftime||7,560|7,560|
|Staff training|Stafftime||95|95|
|IT costs|Stafftime||2,449|2,449|
|Depreciation|Stafftime||12,568|12,568|
|Bank charges|Stafftime||64|64|
|Insurance|Stafftime||2,352|2,352|
|Cost ofTrustee meetings|Stafftime|5,969||5,969|
|Accountancy feces|Stafftime|3,307||3,307|
|Book-keeping costs|Stafftime||3,375|3,375|
|||22,323|109,589|131,912|
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|The aggregate payroll costs were as follows:|||
|---|---|---|
||2025|2024|
||£|£|
|Staffcosts during the year were:|||
|Wages and salarics|86,533|83,551|
|Social security costs|2,280|3,968|
|Pension costs|6,893|6,654|
||95,706|94,173|
|The monthly average number of persons (including senior management
/
charity during the year expressed as full time equivalents was as follows:
l|eadership t|eam)
|mployed by|th|
|---|---|---|---|---|
||2025||2024||
||No||No||
|Charitable activities||2||2|
|No employee received emoluments ofmore than £60,000 during the year.|||||
|10 Independent examiner's remuneration|||
|---|---|---|
||2025|2024|
|||£|
|Examination ofthe financial statements|1,350|1,300|
|Other fees to examiners|||
|All other services|2,407|2,007|
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|12|Intangible fixed assets|||
|---|---|---|---|
|||Website/CRM||
|||Database|Total|
|||£|£|
|Cost||||
|At|1 January 2025|61,781|61,781|
|At|31 December 2025|61,781|61,781|
|Amortisation||||
|At|1 January 2025|32,611|32,611|
|Charge for the year||12,356|12,356|
|At|31 December 2025|44,967|44,967|
|Net book value||||
|At|31 December 2025|16,814|16,814|
|At|31 December 2024|29,170|29,170|
|13|Tangible fixed assets|||
|||Furniture and||
|||equipment|Total|
|||£|£|
|Cost||||
|At|1 January 2025|3,776|3,776|
|At|31 December 2025|3,776|3,776|
|Depreciation||||
|At|1 January 2025|2,573|2,573|
|Charge for the year||180|180|
|At|31 December 2025|2,753|2,753|
|Net book value||||
|At|31 December 2025|1,023|1,023|
|At|31 December 2024|1,203|1,203|
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||Listed|Cash|held with||
|---|---|---|---|---|
||investments|investors||Total|
||£||£|£|
|Cost or Valuation|||||
|At
1 January 2025|594,953||7,564|602,517|
|Revaluation|24,664|||24,664|
|Additions|12,771|||12,771|
|Disposals|(125,000)||(4,532)|(129,532)|
|At 31 December 2025|507,388||3,032|510,420|
|Net book value|||||
|At 31 December 2025|507,388||3,032|510,420|
|At 31 December 2024|594,953||7,564|602,517|
|15 Debtors|||||
|||2025||2024|
|||£||£|
|Prepayments|||404|628|
|Accrued income||||23,000|
||||404|23,628|
|16 Cash and cash equivalents|||||
|||2025||2024|
|||£||£|
|Cash at bank|||51,644|56,216|
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|17 Creditors: amounts falling due within one year|||
|---|---|---|
||2025|2024|
||£|£|
|Trade creditors||128|
|Other taxation and social security||2,206|
|Grants payable|36,022|124,374|
|Accruals|2,640|2,737|
||38,662|129,445|
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|18 Funds||||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||Balance at|1|||Other|31|
|||January||Incoming|Resources|recognised|December|
|||2025||resources|expended|gains/(losses)|2025|
|||£||£|£|£|£|
|Unrestricted|funds|||||||
|General||583,289||101,189|(167,499)|24,664|541,643|
||||||||Balance at|
|||Balance at|1|||Other|31|
|||January||Incoming|Resources|recognised|December|
|||2024||resources|expended|gains/(losses|2024|
|||£||£|£|£|£|
|Unrestricted|funds|||||||
|General||660,439||67,302|(170,037)|25,585|583,289|
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|19 Analysis of net assets between funds|||
|---|---|---|
||Unrestricted|Total funds at|
||funds|31 December|
||General|2025|
||£|£|
|Intangible fixed assets|16,814|16,814|
|Tangible fixed asscts|1,023|1,023|
|Fixed asset investments|510,420|510,420|
|Current assets|52,048|52,048|
|Current liabilities|(38,662)|(38,662)|
|Total net asscts|541,643|541,643|
||Unrestricted|Total funds at|
||funds|31 December|
||General|2024|
||£|£|
|Intangible fixed assets|29,170|29,170|
|Tangible fixed assets|1,203|1,203|
|Fixed asset investments|602,517|602,517|
|Current assets|79,844|79,844|
|Current liabilities|(129,445|(129,445)|
|Total net assets|583,289|583,289|
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|21 Prior year Statement ofFinancial Activities||
|---|---|
||Unrestricted|
||funds|
||2024|
||£|
|Income and Endowments from:||
|Donations and legacies|40,517|
|Other trading activitics|20,392|
|Investment income|6,393|
|Total income|67,302|
|Expenditure on:||
|Raising funds|39,753|
|Charitable activities|130,284|
|Total expenditure|170,037|
|l.osses/(gains) on investment assets|(25,585)|
|Net expenditure|(77,150)|
|Net movement in funds|(77,150|
|Reconciliation offunds||
|Total funds brought forward|660,439|
|Total funds carried forward|583,289|