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2024-12-31-accounts

Company number: 1686164 Charity Number: 286621

Edge Foundation

Report and financial statements For the year ended 31 December 2024

Edge Foundation

Contents

For the year ended 31 December 2024 Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent auditor report .......................................................................................................... 17 Statement of financial activities (incorporating an income and expenditure account) ................... 22 Balance sheet ............................................................................................................................... 23 Statement of cash flows ............................................................................................................... 24 Notes to the financial statements ................................................................................................. 25

Edge Foundation

Reference and administrative information

For the year ended 31 December 2024

Company number 1686164
Charity number 286621
Registered office Sayer Vincent, 110 Golden Lane, London, EC1Y 0TG
Operational address Westminster Kingsway College, 211 Grays Inn Rd, London, WC1X 8RA
Trustees Trustees, who are also directors under company law, who served during the
financial year and up to the date of this report are as follows:
Neil Bates – Chair (Resigned 31stMay 2024)
Professor Ann-Marie Bathmaker
Michael Butler (Resigned 3rdOctober 2024)
Pauline Daniyan
Andrew Stevens
Elaine Lilley – Chair
Rebecca Garrod Waters
Amma Anderson
Charles Rollason
Sebastien Clark (Appointed 31stMay 2024)
Stephen Hatcher (Appointed 4thDecember 2024)
Alison Peacock (Appointed 31stMay 2024)
Andrew Winch (Appointed 18thSeptember 2024)
Key management Alice Barnard Chief Executive
personnel Oliver Newton Executive Director
Ben Dowdeswell Company Secretary
Bankers HSBC
16 King Street
Covent Garden
London WC2E 8JF
Solicitors Russell-Cooke
2 Putney Hill
Putney
London SW15 6AB
Auditors Sayer Vincent LLP
Chartered Accountants and Statutory Auditors
Invicta House
108-114 Golden Lane
London EC1Y 0TL

1

Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

The Trustees present their report and the audited financial statements for the year ended 31 December 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

1 Purpose, aims, objectives and activities

As set out in the Foundation’s memorandum and articles of association, Edge’s purpose is to promote, develop and encourage the advancement of education. The Trustees have agreed to concentrate on the paths people take from secondary education and Further Education through Higher Education to the world of work, focusing on how to make all aspects of education more relevant.

The Edge Foundation believes all young people should have the opportunity to achieve their potential by ‘Making Education Relevant’.

We believe in high quality professional education and training, a broad and balanced curriculum, interactive and engaging real-world learning and rich relationships between education and employers. In 2020, the Board approved a five-year strategic plan and updated the strapline of the organisation to ‘Making Education Relevant’. In doing so, they set out the following vision for the organisation:

Making education relevant for:

2 Strategic report

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's Aims and Objectives, and when planning its future activities all activities are undertaken for the purpose of furthering the Foundation’s charitable purposes for the public benefit.

Research Review Group

Edge chairs a Research Review Group which brings together leading academics and researchers, research commissioners and policymakers. It aims to improve the overall quality and effectiveness of research in this area by providing an overview of the work being done to identify cold and warm

2

Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

spots, whilst minimising overlap and promoting collaboration. The group has been recognised as an example of good practice by the research community.

This year, Edge has further increased the strength of the group and continued to build on its success by leading a series of more specific research groups, including those on skills shortages in the UK economy, European vocational education research, innovation in Higher Education, and education in an island context.

Supporting Emerging Researchers

Edge brings together a network of more than 40 Emerging Researchers (who are undertaking or have recently finished their PhD) working in the areas covered by the charity’s interests. It provides networking and peer support opportunities including a termly Network meeting as well as support to help these researchers present their work at conferences.

This year Edge built further on this group by working collaboratively with several of the students on small pieces of relevant research work as both a developmental opportunity and a contribution to the wider research base.

Find out more about the support for emerging researchers at https://www.edge.co.uk/research/research-networks/emerging-researchers-network/

Primary Research

Edge has further developed its own expertise and in-house capacity for independent primary research on projects that further the charity’s Aims, often working with partners who share similar objectives.

This year, we completed several pieces of primary research, including:

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

We have continued the successful partnership with KCL funded by the Economic & Social Research Council (ESRC) for the four-year longitudinal study ‘Young Futures, Young Lives’ that will look at how young people make post-16 transitions.

Find out more about this research project at https://www.ylyf.co.uk/

We have also begun work in partnership with the University of Bath looking back at the Raising of the Participation Age and its impact on young people’s participation. This is funded by the Nuffield Foundation.

External Research

Edge works with associate researchers in a number of respected University Departments and research organisations to support them in undertaking high quality research that takes forward the charity’s aims and improve practice in the sector.

We have deliberately shifted in recent years to undertaking more of our own primary and collaborative research, but still commission specific pieces where we can use others’ expertise or take the opportunity to develop the research capacity of the sector.

We commissioned a piece from AELP and IER Warwick on Functional Skills – Making It Count, - Spelling It Out which was published this year: https://www.edge.co.uk/research/projects/research reports/spelling-it-out-making-it-count/. We also commissioned an external evaluation of our Edge Future Learning work in the North East of England which was also published: https://www.edge.co.uk/research/projects/research-reports/edge-future-learning-lessonslearned/.

Skills Shortages in the UK Economy

Edge continued to publish biannual bulletins on the current state of the UK economy and the future of the labour market which are widely read and used in the sector.

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

We also publish and keep up to date a short summary of the key messages from across this series which we know is of particular use to busy policymakers and practitioners - https://www.edge.co.uk/research/projects/skills-shortages-uk-economy/Skills-ShortagesBulletin-Summary/.

We also keep updated a Skills Shortages Publications Library to bring together all of the primary material in this area for the ease of researchers and policy colleagues - https://www.edge.co.uk/research/skills-shortages/skills-shortages-publication-library/.

This theme has been particularly relevant with the creation of the new Skills England body and we began discussions with them about how best we can connect and support their work on skills shortages given our track record in this area.

Debating the First Principles of English Vocational Education

Edge continued to lead a series of debates in partnership with KCL to discuss the fundamental principles of education philosophy in the context of the English vocational education system.

This year we held a day of debate at Birmingham Metropolitan College and published a report of the key contributions and discussions: https://www.edge.co.uk/research/projects/principles-english-vocational-education/principles-ofenglish-vocational-education-volume-6/

We are in the process of planning two further debates looking at the use of technology in vocational education for 2025.

Policy Network

Building on the success of our various research networks, in 2021 we founded our Edge policy network, which grew again in 2024 to almost 200 members who lead policy development in charities, think tanks, awarding organisations and others with an interest in vocational education policy making.

The group meets 5-6 times a year to discuss and debate policy ideas or to hear from senior government officials.

Policy History

In 2024 we built on our expertise in the area of understanding and sharing policy history on vocational education and employer engagement. We see this as a very important part of improving policy making by ensuring that new policy is based on lessons learned from previous examples and avoids pitfalls from past policies.

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

In order to support this we have commissioned and developed a wide series of reports looking at the chronology of policy changes in different areas and diving down to look in detail at individual policies from the past – what worked well and what lessons can be learned from them for future work.

Policy Reports

We published two key policy reports in 2024:

Four Nations Policy Work

Edge champions greater connection and joint work between the four nations of the UK and the Crown Dependencies around the UK (e.g. Isle of Man, Channel Islands).

The charity co-founded and sponsors the College Alliance, run by the Association of Colleges, which brings together College Principals and senior FE policymakers from all four nations of the UK regularly to discuss the future of the sector.

Edge also works directly with government agencies in all four nations to provide independent support and facilitation to enhance their work. In 2024 we published A Short Guide to FE and Skills Across the Four Nations to help compare and contrast the approaches taken by each of the four governments - https://www.edge.co.uk/policy/our-work-across-the-four-nations/.

Responses to Consultations and Select Committees

During the year, the Edge Foundation provided detailed and constructive responses to public consultations by both the government and Select Committees of both Houses. The full list of policy responses is at https://www.edge.co.uk/policy/policy-responses/.

Deeper Learning

Building on our partnerships with leading school and college models around the world, in 2022, the Edge Foundation founded Deeper Learning UK, to draw together all of the organisations (MultiAcademy Trusts, College Groups and other voluntary sector organisations) practicing or

6

Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

championing the new approaches to pedagogy that we have been encouraging, in particular project based learning and real world learning.

The group has grown in strength and numbers to over 70 in 2024. We organised the annual face to face event at School 360 in London as well as a wide range of other visits and online events and practitioner networks.

We continued to build a new area of the website to provide free learning and training materials to schools and colleges looking to develop and use new forms of more engaging pedagogy to support their students’ learning.

Bringing our work to life

In 2024 the comms team delivered a programme of engaging content and events. From commissioning poems and videos to running events and webinars, our content was accessible and varied.

Main activities of 2024

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Edge Foundation

For the year ended 31 December 2024

Trustees’ annual report

Videos

Extended project qualifications

Partnering with SRHE

Recording & streaming important discussions

Exploring research with partners

The World is my Canvas- Lemn Sissay

Showcase Steiner Academy Hereford

Animated headlines of research

Digital updates

8

Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

Celebrating 20 Years of Edge

We celebrated the 20th anniversary of Edge with a number of reflective and forward-looking activities throughout the year. We looked back at our history and the impact our work has made over the years and shared this work across our channels. Details can be found here.

Reports published in 2024

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

Reports published in 2024 (Continued)

Education Comms Network (ECN)

In 2024 the Education Comms Network (founded and led by Edge) hosted a meeting and conference with contributions from PR Week Editor, Danny Rogers, Education Editor, Press Association Eleanor Busby and TES Editor, Jon Severs. The membership has grown to over 100 professionals many of whom regularly attend meetings and events. Theme of meetings touched on politics and current affairs, the elements of a successful campaign and how to get education stories covered in the media.

Edge Youth Network

In 2024 the leadership of the Edge Youth Network was transferred to Ashoka UK. In its new home the network will expand it’s focus from education to take on a wider changemaking position. Find out more here.

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

CDN College Awards

Edge sponsored the Innovation Award at last week's 25th anniversary CDN College Awards, presented by Amy Irons in Glasgow and our own Sorah Gluck presented it to West College Scotland. Congratulations to them, Glasgow Clyde College and West Lothian College who were excellent runners-up.

Beacon Awards

Education Partnership North East were announced as winners of the The Edge Award for Excellence in Real World Learning at the 2024 AoC Beacon Awards

Design and Technology Association

Edge supported the Designed for Life podcast throughout 2024. Throughout the year, sixteen episodes of the podcast were release reaching over 31,000 streams. The podcast consists of a series of informal conversations with people from across the worlds of education, industry and design.

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

Learning & Work

Edge sponsored the breakfast session at the Employment & Skills Convention in Birmingham. The event brought together politicians, policy makers, practitioners and researchers to explore the route to better jobs, skilled workers and prosperous communities.

3 Plans for the future

The Edge Foundation will continue to position itself as the leading organisation promoting innovative models of education to prepare people for their future careers, from primary school right through to lifelong learning. The direction of Edge over the next year is contained within the strategy document which expires in 2025. A review of the strategic plan will take place in advance of its expiration. 2024 saw our new Chair take up position at the Board Meeting on the 31[st] May 2024.

With this in mind, Edge wishes to focus on providing constructive solutions that redefine the debate. This will evolve over the coming year, but until the new strategy is crystallised, we will focus on:

Edge also aims to continue to play a central coordinating and convening role, bringing together a range of organisations and partners to support technical and professional education. This will include:

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

4 Financial review

Total income for the year was £0.7m (2023: £0.69m), the majority of which is investment income of £0.62m. Resources expended during the year were £2.1m (2023: £2.11m), which resulted in net outgoing resources before investment disposals or revaluations of £1.4m (2023: £1.42m). After an increase in the value of investments of £1.2m (2023: £0.35m increase) the result was a deficit of £0.2m (2023 deficit: £1.08m). Net assets at 31 December 2024 were £20.3m (2023: £20.5m) including £10.2m (2023: £9.04m) held as long-term investments.

Principal risks and uncertainties

The Board has identified the major risks facing the charity, and the Finance Committee reviews these in detail to ensure that these risks are managed. Such issues are reported to the Board and the Board reviews the risk register on an annual basis.

The principal risks are:

The Trustees consider the company’s status as a going concern, including its financial security, the adequacy of its reserves and the robustness of future financial forecasts. Edge Foundation has undertaken a re-appraisal of expenditure across a number of areas and made conservative future budget projections. There is a reasonable level of confidence attached to the current projections, which do not threaten the solvency of Edge Foundation or its status as a going concern. Current resources provide the company with sufficient financial strength to withstand a significant downturn within the coming twelve months, while income and expenditure remain carefully controlled.

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

Prior to a new project being undertaken, an assessment process is carried out by Senior Management to identify any potential risks to the charity. Any significant risks are highlighted to the Board as appropriate prior to approval of the project.

Reserves policy and going concern

At 31 December 2024 the reserves of Edge are £20.3m (2023 £20.49m). The charity’s reserves are required to provide sufficient income to cover the budgeted annual expenditure. Edge does not have any other significant sources of income and is therefore reliant on the reserves to generate sufficient return for its ongoing operations. The Board approves expenditure of the reserves to increase the effectiveness of the charity over the medium term. For 2025 it has approved £1.97m of expenditure.

Investment policy and performance

The charity’s investment policy during 2024 maintained a target return of 3% to 4% per annum while preserving the capital value of the fund, adjusted for inflation.

Throughout the year, the charity continued its strategy of balancing market investments and cash reserves, responding to economic uncertainty and interest rate trends. The portfolio valuation as of 31st December 2024 stood at £10.19m, reflecting an investment gain of £1,211k during the year.

Given ongoing market volatility, the charity maintained a cautious investment approach, keeping approximately £11m in cash reserves throughout 2024. By carefully managing fixed-term deposits, the charity earned £457k in interest income, capitalising on high interest rates while protecting against equity market fluctuations.

Global and domestic events impacted financial markets in 2024, including geopolitical tensions in the Middle East and Ukraine, US interest rate cuts boosting investor confidence, UK government changes causing short-term uncertainty, and China’s economic slowdown affecting global trade and emerging markets.

At year-end, £10.19m of investments remain, positioning the charity to benefit from potential market recovery in 2025. As part of a strategic review, the Finance and Audit Committee initiated a tender process to evaluate investment management providers. Following this review, the decision was made to transition to a new investment house, ensuring alignment with the charity’s longterm financial strategy.

The Finance Committee will continue to assess market conditions and adjust the investment approach accordingly to maximise returns while safeguarding capital.

Fund Raising policy

The Trustees are aware of their obligations under the Charities Act to report the charity’s fundraising policy. We occasionally engage with statutory funders, trusts and foundations in order

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

to raise our income but do not engage in public fundraising or use commercial fundraisers. There have been no instances of complaints or non-compliance with any code.

5 Structure, management and governance

The organisation is a charitable company limited by guarantee, incorporated on 10 December 1982 and registered as a charity on 4 May 1983. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in Note 7 to the accounts.

Appointment of Trustees

A nominations committee set up by the Board helps to ensure that new Trustees are selected by establishing that their skills complement those of the existing members, thereby guaranteeing that the membership reflects all the activities of the charity. Members are elected to the Board by a majority vote of the members present at the Board meeting.

Trustee induction and training

To ensure effective performance, new members are provided with information to inform them of the governance of the charity, the current and future activities of the charity, the financial status of the charity and details of other Board members and key staff.

Related parties and relationships with other organisations

See Note 22 for details of related parties and connected organisations.

Remuneration policy for key management personnel

The Trustees consider the Board of Trustees and the Chief Executive as comprising the key management team of the charity. No Trustees receive any remuneration. The remuneration of the Chief Executive is reviewed annually during an appraisal by the Chairman. A bonus is considered as part of that process and requires Board approval. The Board also approves the annual cost of living pay rises for all staff. Remuneration is, when necessary, benchmarked initially with similar organisations to ensure fair and in line with general remuneration levels for similar roles.

Statement of responsibilities of the Trustees

The Trustees (who are also directors of Edge Foundation for the purposes of company law) are responsible for preparing the Trustees’ annual report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming

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Edge Foundation

Trustees’ annual report

For the year ended 31 December 2024

resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping 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 safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

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 preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2023 was 9 (2022: 8). The Trustees are members of the charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.

Auditor

Following a tender process, Sayer Vincent LLP were re-appointed as the charitable company's auditors during the year and have expressed their willingness to continue in that capacity.

The Trustees’ annual report, which includes the strategic report, has been approved by the Trustees on 15 July 2025 and signed on their behalf by:

Elaine Lilley Chair

16

Independent auditor’s report

To the members of

Edge Foundation

Opinion

We have audited the financial statements of Edge Foundation (the ‘charitable company’) for the year ended 31 December 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Edge Foundation’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

17

Independent auditor’s report

To the members of

Edge Foundation

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Independent auditor’s report

To the members of

Edge Foundation

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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Independent auditor’s report

To the members of

Edge Foundation

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

20

Independent auditor’s report

To the members of

Edge Foundation

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Orchard (Senior statutory auditor) Date: 22 July 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TL

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Edge Foundation

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2024

Note
Income from:
2
3
Other income
4
4
4
4
4
12
Reconciliation of funds:
Charitable activities
Research
Promotion and PR
Total funds carried forward
Investments
Total income
Expenditure on:
Raising funds
Total expenditure
Net expenditure before net losses on
investments
Charitable activities:
Public Affairs
Education
Net expenditure for the year and movement in
funds
Total funds brought forward
(Losses) / Gains on investments		 Unrestricted
£'000
13
620
6
639
53
1,154
276
141
414
2,038
1,210
(189)
20,488
20,299
(1,399)		 Restricted
£'000
64
-
-
64
-
12
-
-
52
64
-
-
-
-		 2024
Total
£'000
77
620
6
703
53
1,166
276
141
466
2,102
1,210
(189)
20,488
20,299
(1,399)		 Unrestricted
£'000
20
554
66
640
63
1,217
258
92
432
2,062
347
(1,075)
21,563
20,488
(1,422)		 Restricted
£'000
51
-
-
51
-
18
-
-
33
51
-
-
-		 2023
Total
£'000
71
554
66
691
63
1,235
258
92
465
2,113
347
(1,075)
21,563
20,488
(1,422)

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17 to the financial statements.

22

Edge Foundation

Company no. 1686164

Balance sheet

As at 31 December 2024

----- Start of picture text -----
2024 2023
Note £'000 £'000 £'000 £'000
Fixed assets:
Tangible assets 10 2 83
Intangible assets 11 14 31
Investments 12 10,194 9,038
10,210 9,152
Current assets:
Debtors 13 66 159
Short Term Deposits 1,000 10,983
Cash at bank and in hand 9,167 416
10,233 11,558
Liabilities:
Creditors: amounts falling due within one year 14 144 222
Net current assets 10,089 11,336
Total assets less current liabilities 20,299 20,488
Creditors: amounts falling due after one year 16 - -
Total net assets 20,299 20,488
The funds of the charity: 17
Unrestricted income funds:
Revaluation reserve 1,063 (147)
General funds 19,236 20,635
Total charity funds 20,299 20,488
----- End of picture text -----

Approved by the trustees on 15 July 2025 and signed on their behalf by:

Elaine Lilley Chair

23

Edge Foundation

Statement of cash flows

For the year ended 31 December 2024

Note
£'000
£'000
19
(1,852)
620
(1)
Disposal of fixed assets
-
-
1
620
(1,232)
11,399
10,167
Cash flows from operating activities
Net cash provided by investing activities
Net cash (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Capital drawdown from investments
Purchase of intangible fixed assets
2024
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year		 £'000
£'000
(1,971)
554
(3)
-
(16)
3,498
4,033
2,062
9,337
11,399
2023

24

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

Edge Foundation is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address is Westminster Kingsway College, 211 Grays Inn Rd, London, WC1X 8RA.

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), the Charities Act 2011 and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The charitable company meets the definition of a public benefit entity under FRS 102.

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have concluded that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The Trustees do not consider that there are any key judgements that the charitable company has made which have a significant effect on the accounts.

The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

25

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

Promotion and PR 11%
Public Affairs 9%
Education 13%
Research 60%
Support costs 7%
Governance costs 1%

Rental charges are charged on a straight line basis over the term of the lease.

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Computer equipment 2 years
Furniture and fittings 5 years
Leasehold improvements Over the length of the lease

Intangible assets:

Intangible assets are capitalised at cost and amortised to write off the cost over the estimated useful life.

Website and CRM costs have been capitalised within intangible assets as they can be identified with a specific project anticipated to produce future benefits. Once brought into use they will be amortised on the straight line basis over the anticipated life of the benefits arising from the completed project.

26

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only 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 subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

q) Pensions

All pension schemes are defined contribution schemes and the costs are therefore accounted for in full as they are incurred on a monthly basis.

27

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

University of Bath
King's College London
Youth Futures Foundation Limited
Welsh Government
Big Education Trust
Skills Development Scotland
Greater Manchester Combined Authority
Other Consultancy
Other income
3
Income from long term investments
Interest on cash at bank
Income from investments		 Unrestricted
£000's
-
-
8
5
-
-
-
-
13
6
19		 £000's
52
12
-
-
-
-
-
-
64
-
64
Restricted		 2024
Total
£000's
52
12
8
5
-
-
-
-
77
6
83
2024
Total
Unrestricted
£000's
163
457
620		 2023
Total
£000's
19
18
11
10
7
4
1
1
71
66
137
2023
Total
Unrestricted
£000's
238
316
554

28

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

Staff costs
Research
Policy
Next Generation Learning
Other grants and sponsorship
Communications
Edge Events
Other employee costs
Premises and office costs
Administration and IT costs
Investment Management fees
overheads / salary allocation
Support costs
Governance costs
Total expenditure 2024
Total expenditure 2023		 Cost of
raising
funds
£'000
-
-
-
-
-
-
-
-
-
-
53
53
-
-
53
63		 Research &
Policy
£'000
576
206
23
-
-
-
-
48
86
157
-
1,096
60%
61
9
1,166
1,235		 Promotion
and PR
Partnerships
and Projects
£'000
£'000
105
87
-
-
-
-
-
-
-
-
91
-
14
-
9
7
16
13
28
24
-
-
263
131
11%
9%
11
9
2
1
276
141
258
92
Charitable activities		 Education
£'000
122
-
-
141
126
-
-
11
18
33
-
451
13%
13
2
466
465		 Governance
costs
£'000
10
-
-
-
-
-
-
-
1
3
-
14
1%
-
(14)
-
-		 Support
costs
£'000
63
-
-
-
-
-
-
5
9
17
-
94
7%
(94)
-
-
-		 2024 Total
£'000
963
206
23
141
126
91
14
80
143
262
53
2,102
-
-
2,102		 2023 Total
£'000
946
189
50
164
109
66
-
67
243
216
63
2,113
-
-
2,113

29

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

4b Analysis of expenditure (prior year)

Staff costs
Research
Policy
Grant Fund Monitoring
Edge Grant Fund
AOC Beacon Awards
Next Generation Learning
Other grants and sponsorship
Edge Events
Other employee costs
Premises and office costs
Administration and IT costs
Investment Management fees
Support costs
Governance costs
Total expenditure 2023		 Cost of
raising
funds
£'000
-
-
-
-
-
-
-
-
-
-
-
-
63
63
-
-
63		 Research &
Policy
£'000
600
189
50
-
-
-
-
-
-
42
154
137
-
1,172
55
8
1,235		 Promotion
and PR
Partnerships
and Projects
£'000
£'000
115
55
-
-
-
-
-
-
-
-
-
-
-
-
-
-
66
-
8
4
30
14
26
13
-
-
245
86
11
5
2
1
258
92
Charitable activities		 Education
£'000
115
-
-
-
-
-
164
109
-
9
30
26
-
453
10
2
465		 Governance
costs
£'000
9
-
-
-
-
-
-
-
-
-
2
2
-
13
-
(13)
-		 Support
costs
£'000
52
-
-
-
-
-
-
-
-
4
13
12
-
81
(81)
-
-		 2023
£'000
947
189
50
-
-
-
164
109
66
67
243
216
63
2,113
-
-
2,113

30

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£'000|£'000| |AOC Charity|37|15| |Enabling Enterprise|20|13| |Youth Employment UK|18|-| |The Design and Technology Association|16|16| |Ashoka UK|10|-| |Big Education Trust|3|57| |University of Essex|3|-| |College Development Network|1|-| |St Georges House Trust|-|3| |Steam Co|-|5| |At the end of the year|108|109|

----- End of picture text -----

Grants are made to further Edge's mission and to support the strategic objectives of the charity. All grants are paid to institutions and none to individuals

This is stated after charging:

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£'000|£'000| |Depreciation|82|21| |Amortisation|17|29| |Operating lease rentals:| |Property|104|136| |Auditors' remuneration (excluding VAT):| |Audit|11|11|

----- End of picture text -----

31

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

Staff costs were as follows:

Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes
Other forms of employee benefits
Other third parties and secondments		 2024
£'000
808
90
47
16
2
963		 2023
£'000
793
86
48
19
-
946

The following number of employees received employee benefits (excluding employer pension costs and national insurance contributions) during the year between:

insurance contributions) during the year between:
£60,000 - £69,999 2024
2023
No.
No.
3
1
£100,000 - £109,999 -
1
£110,000 - £119,999 1
-
£160,000 - £169,999 1
1

The total employee benefits including pension contributions and employer's NI contributions of the key management personnel were £326,765.59 (2023: £302,909).

The charity Trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). No charity Trustee received payment for professional or other services supplied to the charity (2023: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £4,872 (2023: £1,750) incurred by 5 (2023: 3) members relating to attendance at meetings of the Trustees.

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Support
Research
Education
Promotion and PR
Public Affairs		 2024
No.
9
2
1
2
1
15		 2023
No.
9
2
1
2
1
15

32

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Disposals
Disposals
At the start of the year
At the end of the year
Cost
Net book value
At the end of the year
At the start of the year
At the end of the year
At the start of the year
Additions in year
Depreciation
Charge for the year		 Leasehold
improvements
£'000
142
-
(142)
-
64
78
(142)
-
-
78		 Fixtures and
fittings
£'000
21
-
-
21
21
-
-
21
-
-		 IT equipment
£'000
68
2
(1)
69
63
4
-
67
2
5		 Total
£'000
231
2
(143)
90
148
82
(142)
88
2
83

All of the above assets are used for charitable purposes.

Amortisation
At the start of the year
Charge for the year
At the end of the year
At the end of the year
Cost
At the end of the year
At the start of the year
Additions in year
At the start of the year
Net book value		 Website costs
£'000
55
-
55
48
5
53
2
7		 CRM costs
£'000
37
-
37
13
12
25
12
24		 Total
£'000
92
-
92
61
17
78
14
31

All of the above assets are used for charitable purposes.

33

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

12 Listed investments

13
Accrued income
Prepayments
14
Dilapidations Provision under 1 Year
Trade creditors
Taxation and social security
Other creditors
Accruals
Debtors
Creditors: amounts falling due within one year
Trade debtors
Investments comprise:
Historic cost at the end of the year
Cash
Listed investments
Additions at cost
Net gains on change in fair value
Fair value at the start of the year
Disposal proceeds
Cash held by investment broker pending reinvestment
Fair value at the end of the year		 2024
£'000
9,031
46
(93)
1,210
10,194
-
10,194
9,204
2024
£'000
10,194
-
10,194
2024
£'000
-
19
47
66
2024
£'000
-
9
39
15
81
144		 2023
£'000
12,243
54
(3,613)
347
9,031
7
9,038
9,185
2023
£'000
9,031
7
9,038
2023
£'000
33
20
106
159
2023
£'000
59
69
33
27
34
222

34

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

15a Movements in funds - current year

Restricted funds:
University of Bath
King's College London
Total funds
Total restricted funds
Unrestricted funds:
General funds
Revaluation reserve		 At the start
of the year
£'000
-
-
-
(147)
20,635
20,488
20,488		 Income & gains
£'000
52
12
64
1,210
639
1,849
1,913		 Expenditure &
losses
£'000
(52)
(12)
(64)
-
(2,038)
(2,038)
(2,102)		 Transfers
£'000
-
-
-
-
-
-
-		 At the end of
the year
£'000
-
-
-
1,063
19,236
20,299
20,299

Purposes of restricted funds

Kings College London funding supported the Young Lives Young Futures longitudinal research project looking at how young people aged 14-18 make transitions.

University of Bath funding is from a research project funded by the Nuffield Foundation in which Edge supported the University of Bath to examine the impact of the raising of the participation age to 18 in 2015. The report will be published in July 2025

35

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

At the start
of the year
£'000
King's College London
-
Greater Manchester Combined Authorit
-
Big Education Trust
-
Welsh Government
-
-
(553)
22,116
21,563
21,563
Restricted funds:
Unrestricted funds:
Total Restricted funds
Revaluation reserve
General funds		 Income & gains
£'000
18
10
19
4
51
-
640
640
691		 Expenditure &
losses
£'000
(18)
(10)
(19)
(4)
(51)
347
(2,062)
(1,715)
(1,766)		 Transfers
£'000
-
-
-
-
-
59
(59)
-
-		 At the end of
the year
£'000
-
-
-
-
-
(147)
20,635
20,488
20,488

36

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

16a
Restricted
funds
£'000
Investments
-
Tangible fixed assets
-
Intangible fixed assets
-
Net current assets
-
-
16b
Restricted
£'000
Investments
-
Tangible fixed assets
-
Intangible fixed assets
-
Net current assets
-
-
17
Net expenditure for the reporting period
(as per the statement of financial activities)
Depreciation charges
Amortisation charges
Investment fees
Gains on investments
Dividends, interest and rent from investments
Increase / (Decrease) in debtors
Decrease in creditors
Net cash (used in) operating activities
Analysis of net assets between funds - prior year
Analysis of net assets between funds
Reconciliation of net income / (expenditure) to net cash flow from operating activities		 Unrestricted
funds
£'000
10,194
2
14
10,089
20,300
Unrestricted
£'000
9,038
83
31
11,336
20,488
2024
£'000
(189)
82
17
53
(1,210)
(620)
93
(78)
(1,852)		 Total funds
£'000
10,194
2
14
10,089
20,300
Total funds
£'000
9,038
83
31
11,336
20,488
2023
£'000
(1,075)
21
29
63
(347)
(554)
(39)
(69)
(1,971)
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 At 1 January
2024
£'000
415
415		 Cash flows
£'000
8,750
8,750		 Other changes
£'000
-
-		 £'000
9,165
9,165
At 31
December
2024

18 Analysis of cash and cash equivalents

37

Edge Foundation

Notes to the financial statements

For the year ended 31 December 2024

19 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

Less than one year 2024
2023
£'000
£'000
5
122
5
122
Property		 2024
2023
£'000
£'000
-
-
-
-
Equipment

20 Related party transactions

There were no related party transactions in the year.

21 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

38