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← World Education Berkshire

2025-05-31-accounts

ee CHARITYREGISTRATIONNUMBER: 293799

World Education Berkshire Company Limited by Guarantee Unaudited Financial Statements 31 May 2025

World Education Berkshire

Company Limited by Guarantee

Financial Statements

Year ended 31 May 2025

Page
Trustees’ annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 6
Statement of financial activities (including income and
expenditure account) 8
Statement of financial position 9
Notestothefinancialstatements 11

World Education Berkshire

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 31 May 2025

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2025.

Reference and administrative details

Registered charity name World Education Berkshire Charity registration number 293799 Company registration number 01987368 Principal office and registered 35-39 London Street office Reading Berkshire RG1 4PS The trustees Katherine Burton Adam Peters Karen Peters Daniel Hannibal Obiageli Onyekpe Summreen Sheikh Independent examiner N J Cadwallader FCCA For and On Behalf of David Cadwallader & Co Limited Suite 3 Bignell Park Barns Chesterton Nr Bicester Oxon OX26 1TD

Structure, governance and management

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).

1

World Education Berkshire

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 May 2025

Objectives and activities

The company's principal objectives and activities (as per the programmes of Reading International Solidarity Centre/RISC), according to the Memorandum of Association are to:

The main objectives and activities of the charity for the year continued to be to focus on the promotion and advancement of public education.

Related parties and co-operation with other organisations

None of our trustees receive remuneration or other benefits from their work with the charity. They are entitled to ask for travel expenses or help with child care arrangements if they wish. Any connection between a trustee and any of the employees, or any related connection in the field of RISC's work must be disclosed to the board in the same way as any other contractual relationship with a related party.

The charity has a very close relationship with BAFTS Fair Trade Network UK as at least two of the Collective often host and attend their meetings/conferences. Similarly, we are a prominent member of The Global Learning Network (formerly the Consortium of Development Education Centres (CoDEC)) as we are the largest such centre in the UK.

Locally, RISC is a very important part of the following organisations and charities:

Risk management

An aspect of ensuring the trustees are aware of the health of the organisation is that at board meetings the finance co-ordinator is present to help us interpret the financial figures which include year to date comparisons by month of the trading aspects of RISC and the overall financial position. There is also a trustee with accounting experience now on the board to help us interpret the figures and to consult with our Finance Co-ordinator.

2

World Education Berkshire

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continueg)

Year ended 31 May 2025

Achievements and performance

Reading International Solidarity Centre's (RISC) programmes, projects and activities continue to uphold the mission of spreading awareness and understanding of inter-relationships between individuals in their local communities to world issues.

The Trustees present the following highlights from the 2025 programme summaries included in this report:

e The RISC building continues to be managed efficiently by a small, dedicated team, ensuring that the centre remains open seven days a week from 8am to 11pm, with caretakers maintaining high standards of service and strong health and safety compliance.

¢ Despite economic pressures and staffing changes, both the World Shop and Global Refills performed strongly, ending the year with a combined surplus of £8,000. Highlights included popular Palestinian stalls at RISC events, a successful World Fair Trade Day celebration featuring international speakers, and the installation of a new Epos system donated by the Oxford Fair Trade Shop.

e Three senior supervisors and over 20 new volunteers have strengthened the shop teams following staff departures, and work continues to rebuild the book department with the support of a volunteer book coordinator.

e Key highlights included collaboration with the Global Learning Network to present The Case for Global Learning at a Westminster reception, contributions to the National Climate Education Action Plan hosted by the University of Reading, and delivery of CPD, Global Teacher Award training, and Creative Lives workshops focused on identity and anti-racist education.

¢ The organisation closed the 2024-2025 financial year with a deficit of £24,392, and Trustees

3

World Education Berkshire

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 May 2025

continue to seek new funding partnerships and strategic approaches to ensure RISC's long-term sustainability.

Financial review

Principal Funding Sources

The charity received £102,607 in grant income (2024 £87,329) of which £74,359 was restricted to specific projects. Trading income from World Shop and resources centre generated £153,473 (2024 £145,289). Global refill shop generated £69,306 (2024 £59,760). Centre income amounted to £105,796 (2024 £105,091). The rental flats generated £35,970 (2024 £32,375). The charity also received £28,248 (2024 £7,950) in donations and £620 (2024 £457) in Bank Interest. Other income comprise of asset disposal proceeds of £90. (2024 12,500).

The gross income of the charity was £467,862 (2024 £442,800) and total expenditure was £482,417 (2024 £464,925) leaving a deficit of £14,555 (2024 deficit £22,125).

Investment powers and policy

Under the Memorandum and Articles of Association the charity has the power to invest in anyway the trustees wish. The trustees, having regard to the liquidity requirements of operating the charity and to the reserves policy, have operated a policy of keeping available funds in a bank current and deposit accounts. Reserves policy and going concern

The trustees have established the level of reserves that is those funds that are freely available, that the charity ought to have. Reserves are needed to ensure working capital is available and to bridge the gap between spending on activities and receiving resources through grant funding and sales of resource materials. Reserves are also held to cover possible emergency repairs to the centre, meet loan obligations and other expenditure.

The trustees therefore consider that the ideal level of free reserves, whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 4 and 6 months of the expenditure. Monthly budgeted expenditure averages £40,000. The target for free reserves is £120,000 to £240,000 in general funds.

At the year end, the free reserves in the general funds stand at £157,740 (2024 £166,790). The strategy is to continue to build reserves through planned operating surpluses over the next few years, thus ensuring that the charity can continue to operate in this era of austerity and economic uncertainties.

The year ending 31st May 2026 is likely to be a challenging year in terms of raising Grants to fund the actlvitles of the charlty. The trustees are forecasting a deficit for lhe year ending 31sl May 2026. The deficit will be managed through cost containment and existing reserves. The Trustees are actively seeking to improve existing income streams and Grant funding to cover its operating costs.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

4

World Education Berkshire

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continue) Year ended 31 May 2025

The trustees’ annual report was approved on IB/IL-L.2S.. and signed on behalf of the board of trustees by:

Karen Peters Trustee

5

World Education Berkshire

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of World Education Berkshire

Year ended 31 May 2025

| report to the trustees on my examination of the financial statements of World Education Berkshire (‘the charity’) for the year ended 31 May 2025.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. _ the financial statements do not accord with those records; or

  3. the financial statements 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

  4. the financial statements 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).

6

World Education Berkshire

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of World Education Berkshire (continued)

Year ended 31 May 2025

| 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.

A feos.FOAM. dex

N J Cadwallader FCCA For and On Behalf of David Cadwallader & Co Limited Independent Examiner

Suite 3 Bignell Park Barns Chesterton Nr Bicester Oxon OX26 1TD

\% OvccemneB20asg

7

World Education Berkshire Company Limited by Guarantee

Statement of Financia! Activities (including income and expenditure account)

Year ended 31 May 2025

2025 2024
Unrestricted Restricted
funds funds Totalfunds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 28,248 74,359 102,607 87,329
Other trading activities 6 328,575 - 328,575 310,140
Investment income 7 36,590 - 36,590 32,832
Other income 8 90 - 90 12,499
Total income 393,503 74,359 467,862 442,800
Expenditure
Expenditure on raising funds:
Costs of other trading activities 9 208,995 - 208,995 212,605
Expenditure on charitable activities 10,11 193,557 79,865 273,422 252,320
Total expenditure 402,552 79,865 482,417 464,925
Net expenditureand net movement
funds		 in (9,049) (5,506) (14,555) (22,125)
Reconciliation of funds
Total funds brought forward 1,220,755 16,093 1,236,848 1,258,973
Totalfundscarriedforward 1,211,706 10,587 1,222,293 1,236,848

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 11 to 25 form part of these financial statements.

8

World Education Berkshire Company Limited by Guarantee

Statement of Financial Position

31 May 2025

2025 2024
Note £ £
Fixed assets
Tangible fixed assets 17 905,000 916,998
Investments 18 620,000 620,000
1,525,000 1,536,998
Current assets
Stocks 19 103,839 106,568
Debtors 20 12,024 11,698
Cash at bank and in hand 35,343 57,183
151,206 175,449
Creditors: amounts falling due within one year 21 59,187 46,045
Net current assets 92,019 129,404
Total assets less current liabilities 1,617,019 1,666,402
Creditors: amounts falling due after more than one year 22 394,726 429,554
Net assets 1,222,293 1,236,848
Funds of the charity
Restricted funds 10,587 16,093
Unrestricted funds:
Revaluation reserve 1,053,966 1,053,966
Other unrestricted income funds 157,740 166,789
Total unrestricted funds 1,211,706 1,220,755
Totalcharityfunds 24=11,222,293 1,236,848

For the year ending 31 May 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The statement of financial position continues on the following page. The notes on pages 11 to 25 form part of these financial statements.

9

World Education Berkshire

Company Limited by Guarantee

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of trustees and authorised for issue on IB/12/25- and are signed on behalf of the board by:

Karen Peters Trustee

The notes on pages 11 to 25 form part of these financial statements.

10

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 May 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in and a registered charity in England and Wales. The address of the registered office is 35-39 London Street, Reading, Berkshire, RG1 4PS.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The trustees have assessed the charity's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements. At 31 May 2025, the charity held unrestricted reserves of £157,740, equivalent to approximately four months of average operating expenditure.

The trustees acknowledge that a deficit is forecast for the year ending 31 May 2026 due to anticipated challenges in securing grant income. However, the charity has active grant applications, and sufficient reserves to absorb the projected shortfall without impacting core activities. The trustees have considered these factors alongside committed income streams and believe there are no material uncertainties that would cast significant doubt on the charity's ability to continue as a going concern. Accordingly, the financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgemenis, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

11

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2025

  1. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unresiricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

12

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 May 2025

  1. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis asa tiability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line Fixtures and fittings - 20% straight line Equipment - 20% straight line Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

13

World Education Berkshire

Company Limited by Guarantee Notes to the Financial Statements (continued)

Year ended 31 May 2025

3. Accounting policies (continued)

Investments (continued)

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

14

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 May 2025

  1. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

  1. Limited by guarantee

The company which is registered as a charity does not have a share capital. The liability of every member is limited by guarantee to £1.00. The total number of members as at 31st May 2025 was 44 (2024: 45).

  1. Donations and legacies

Unrestricted Restricted Total Funds Funds Funds 2025 £ £ £ Donations Appeals and Donations 28,248 - 28,248

15

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 May 2025

5. Donations and legacies (continued)

Unrestricted Restricted Total Funds
Funds Funds 2025
£ £ £
Grants
Royal Berkshire Hospital - - =
Berkshire Community Hospital - Veg 4 Families - 7,555 7,555
Reading Borough Council - Food for Families ~ = -
Earley Charity - 14,904 14,904
Earley Charity - 51,900 51,900
28 248 74,359 102,607
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Donations
Appeals and Donations 7,950 - 7,950
Grants
Royal Berkshire Hospital - 3,276 3,276
Berkshire Community Hospital - Veg 4 Families - 3,000 3,000
Reading Borough Council - Food for Families - 10,000 10,000
Earley Charity = 12,358 12,358
Earley Charity = 50,745 50,745
7,950 79,379 87,329

6. Other trading activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
World Shop 135,793 135,793 137,405 137,405
Global Refill Shop 69,306 69,306 59,760 59,760
Center Income 105,796 105,796 105,091 105,091
Education Resources 5,425 5,425 2,385 2,385
Food for famillies event & course 12,255 12,255 5,499 5,499
328,575 328,5/5b 310,140 310,140

7. Investment income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Income from investment properties 35,970 35,970 32,375 32,375
Bank Interest Received 620 620 457 457
36,590 36,590 32,832 32,832

16

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2025

8. Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Other Income 90 90 12,499 12,499
9. Costs of other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Fair Trading 131,840 131,840 137,895 137,895
Global Refill Shop 67,852 67,852 60,542 60,542
Invesiment Income 9,303 9,303 14,168 14,168
208,995 208,995 212,605 212,605

10. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2025
£ £ £
Centre Costs 40,119 51,900 92,019
Core Costs 37,103 - 37,103
Development Education 11,922 - 11,922
Sustainable Communities 9,500 20,286 29,786
Support costs 94,913 7,679 102,592
193,557 79,865 273,422
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Centre Costs 38,939 50,745 89,684
Core Costs 16,265 - 16,265
Development Education 14,168 10,404 24,572
Sustainable Communities - 28,452 28,452
Support costs 89,770 3,577 93,347
159,142 93,178 252,320

17

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 May 2025

11. Expenditure on charitable activities by activity type

Activities
undertaken Grant funding Total funds Total fund
directly —_of activities Support costs 2025 2024
£ £ £ £ £
World Shop - - 1,109 1,109 975
Centre Costs 40,119 51,900 28,473 120,492 152,762
Core Costs 37,103 - 64,378 101,481 33,421
Global Refill Shop - - 658 658 674
Development Education 11,922 - 322 12,244 24,584
Sustainable
Communities
Governance costs		 29,786
-		 -
-		 7,679
(27)		 37,465
(27)		 32,029
7,875
118,930 51,900 102,592 273,422 252,320

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World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2025

13. Net expenditure

Net expenditure is stated after charging/(crediting):

Net expenditure is stated after charging/(crediting):
2025 2024
£ £
Depreciation of tangible fixed assets 11,998 11,621
14. Independent examination fees
2025 2024
£ £
Fees payable to the independent examiner for:
Independentexaminationofthefinancialstatements 1,950 7,875

15. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2025 2024
£ £
Wages and salaries 198,983 210,403
Social security costs 11,903 11,021
Employer contributions to pension plans 11,393 12,240
222,279 233,664

The average head count of employees during the year was 15 (2024: 8). The average number of full-time equivalent employees during the year is analysed as follows:

2025 2024
No. No.
Education Workers 1 1
World Shop 2 2
Events
Management and Support		 1
3		 1
4
7 8

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

16. Trustee remuneration and expenses

None of the trustees received any remuneration or reimbursement of expenses during the current or previous year.

20

World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 May 2025

17. Tangible fixed assets

Freehold Fixtures and
property fittings Equipment
£ £ £ £
Cost
At 1 June 2024 and 31 May 2025 1,010,885 44,997 97,853 1,153,735
Depreciation
At 1 June 2024 96,385 44,997 95,355 236,737
Charge for the year 9,500 - 2,498 11,998
At 31 May 2025 105,885 44,997 97,853 248,735
Carrying amount
At 31 May 2025 905,000 ~ - 905,000
At31May2024 914,500 ~ 2,498 916,998

The freehold property was valued at £1,000,000 on 31 May 2015. This was considered to be deemed cost at transition to FRS102 on 1 June 2015.

NBV of revalued tangible fixed assets: The net book value of revalued assets at 31st May 2025 was £905,000.(2024: £914,500)

Tangible fixed assets held at valuation

In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

under the historical cost model are as follows:
Freehold
property
£
At 31 May 2025
Aggregate cost 678,265
Aggregate depreciation (206,789)
Carrying value 471476
At 31 May 2024
Aggregate cost 678,265
Aggregate depreciation (193,224)
Carryingvalue 485,041

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World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continue)

Year ended 31 May 2025

18. Investments

Other
investments
£
Cost or valuation
At 1 June 2024 620,000
Additions ~
At 31 May 2025 620,000
Impairment
At 1 June 2024 and 31 May 2025 =
Carrying amount
At 31 May 2025 620,000
At31May2024 620,000

All investments shown above are held at valuation.

Historical cost at 31st May 2025 - £316,253. (2024 £316,253). The trustees estimate the market value of the investment property at £620,000 as at 31st May 2025 (2024 £620,000). The investment properties were subject to independent, professional valuation at 31st May 2015. The valuation was carried out on an existing use basis by Mr S J Gregory BSc MRICS, a Registered Valuer at Hicks Baker.

19. Stocks

2025 2024
£ £
Raw materials and consumables 103,839 106,568
20. Debtors
2025 2024
£ £
Trade debtors 12,024 10,817
Prepayments and accrued income - 881
12,024 11,698

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World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 May 2025

21. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans and overdrafts 34,513 26,350
Trade creditors 16,896 7,129
Accruals and deferred income 3,025 9,750
Social security and other taxes 3,886 2,816
Other creditors 867 =
59,187 46,045

Borrowing amounting to £24,344 (2024: £16,125) is secured on the company assets.

22. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans and overdrafts 394,726 429,554

Borrowing amounting to £388,365 (2024 £419,060) is secured on the company assets. Included within creditors: amounts falling due after more than one year is an amount of £335,300 (2024: £354,564) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date. The loans are for varying periods and varying interest rates from 6 to 25 years.

The loans underpinning the property investments are interest only loans. Working capital loans are interest and capital repayment loans. Interest rates varies between 2.5% to 4.2%.

23. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £11,393 (2024: £12,240).

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World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 May 2025

24. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 June 2024 Income Expenditure Transfers 31 May 2025
£ £ £ £ £
General funds 166,789 393,503 (402,552) = 157,740
Revaluation reserve 1,053,966 ~ - - 1,053,966
1,220,755 393,503 (402,552) - 1,211,706
At At
1 June 2023 Income Expenditure Transfers 31 May 2024
£ £ £ £ £
General funds 184,116 363,421 (371,747) (9,001) 166,789
Revaluation reserve 1,055,896 - - (1,930) 1,053,966
1,240,012 363,421 (371,747) (10,931) 1,220,755
Restricted funds
At At
1 June 2024 Income Expenditure Transfers 31 May 2025
£ £ £ £ £
Sustainable
Communities 4,773 51,900 (51,780) - 4,893
Centre Costs and
Development 11,320 22,459 (28,085) = 5,694
16,093 74,359 (79,865) - 10,587
At At
1 June 2023 Income Expenditure Transfers 31 May 2024
£ £ £ £ £
Sustainable
Communities 7,641 28,634 (42,433) 10,931 4,773
Centre Cosis and
Development 11,320 50,745 (50,745) = 11,320
18,961 79,379 (93,178) 10,931 16,093

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World Education Berkshire

Company Limited by Guarantee

Notes to the Financial Statements (continueg) Year ended 31 May 2025

24. Analysis of charitable funds (continued)

Restricted funds have arisen where income has been received from funders for specific purposes. These include:

Community and centre development

The maintenance of the community and centre was largely funded by grant received from Earley Charity of £51,900 (2024: £50,745)

Sustainable communities

Local Food Funding is to support the setting up the 15 food growing gardens in Reading where families can learn how to grow their own food. This includes covering the costs of a project coordinator and garden tutors to run the sessions with families on site. This activity has been supported by grants from RoyalBerkshire Hospital (NHS), Berkshire Community Foundation, Early Charity and Reading Borough Council.

25. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2025
£ £ £
Tangible fixed assets 905,000 _ 905,000
Investments 620,000 > 620,000
Current assets 140,619 10,587 151,206
Creditors less than 1 year (59,187) - (59,187)
Creditors greater than 1 year (394,726) ~ (394,726)
Net assets 1,211,706 10,587 1,222,293
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 916,998 - 916,998
Investments 620,000 - 620,000
Current assets 159,355 16,094 175,449
Creditors less than 1 year (46,045) - (46,045)
Creditors greater than 1 year (429,554) - (429,554)
Netassets 1,220,754 16,094 1,236,848

25