Social Change Initiative
Company Limited by Guarantse
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2025
2025
Restricted
funds Total funds Total funds
2024
Unrestricted
funds
Note
Income and endowments
Charitable activities
Investment income
46.077
217.349
263,855
309,932
217,349
228,960
169,585
Total income
263,426
263,855
527,281
398,545
Expenditure
Expenditure on charitable activities
Total expenditure
16,524
16,524
1.030.053
1.046,577
1,096,001
1.030.053
1.046,577
1,096,001
Net losses on investments
(20,bJU)
(20,630)
(2.699)
Net expendituro and net movoment in
funds
226.272
(766,198) (539,926) (700,155)
Reconciliation of funds
Total funds brought forward
Total funds carried forward
1,110.388
3,319,494
4,429.882
5,130,037
1.336.660
2,553,296
3,889,956
4,429,882
The statement of financial activities includes all gains 2nd losses recognised in the year_
All income and expenditure derive from continuing activities.
The note5 on pages 17 to 31 forni part of these financial statements.
14

Social Change Initiative
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
2025
2024
Note
Fixed assets
Tangible fixed asset5
Investments
14
6,649
15 2,550,474
2,557,123
7.680
3,298,203
3,305,883
Current assets
Debtors
liivetstments
Cash at bank and in hand
16
17
46,781
1,073,474
237,198
4,253
952,022
210,894
1,357,453
1,167,169
Creditors". amounts falling due within one year
Net current assets
19
24,620
43,170
1,123,999
1,332,833
Total assets less current liabilities
3,889,956
4,429,882
Net assets
3,889,956
4,429,882
Funds of the charity
Restricted funds
Unrestricted funds
2,553,296
1,336,660
3,319,494
1,110,388
Total charity funds
21 3,889,956
4.429,882
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 1
December 2025, and are signed on behalf of the board by:
I￿ag
Trustee
The notes on pages 17 to 31 forni part of these financial ststements.
15

Social Change Initiative
Company Limited by Guarantee
ststement of Cash Flows
Year ended 31 March 2025
2025
2024
Note
Cash flows from operating activities
Net expenditure
(539,926) (700,155)
Adjustments ft)r
Depreciation of tangible fixed assets
Net losses on investments
Dividends, interest from investments
Other interest receivable and similar income
Interest payable and similar charges
Accrued expensesl{income)
1,806
1,893
747,729
637,654
(215,754) (167,265)
(1,595)
(2,320)
500
487
7,200
(15,110)
Changes in..
Trade and other debtors
Trade and other creditors
(42,528)
(25.750)
1,902
63
Cash generated from operations
(68,318) {242,851)
Interest paid
Interest received
(500)
1,595
(487)
2,320
Net cash used in oparating activities
(67.223)
{241.018)
Cash flows from investing activities
Dividends, interest from investments
Purchase of tangible assets
Purchases of other investments
Proceeds from sale of other investments
215,754
167,265
(775)
(1,219)
(923.611) {1.703.032)
923,611
1.635,111
Net cash from investing activities
214.979
98,125
Net increasel{decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
147,756
1.162,916
(142,893)
1,305,809
18 1,310,672
1,162,916
The notes on page5 17 to 31 form part of these financial statements.
16

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Ststsments
Year ended 31 March 2025
General information
The charity is a public benefit entity and a prtvate company limited by guarantee, registered in
Northern Ireland and a registered charty in Northern Ireland. The address of the registered office
is Floor 3, Wellington Buildings, 24 INellington Street. Belfast, BT16HT.
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.
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
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
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.
Fund accounting
Unrestricted fijnds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted 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.
17

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statsments (Conffnuedj
Year ended 31 March 2025
Accounting policies (Mntinued)
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=
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably. in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers_
income from contracts for the supply of services is recognised with the delivery of the
contracted 8ervip.p This 18 r.laqsifip.d AS iinrestricted ftinds unlpss there is 8 contractLial
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability 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..
expenditure on raising funds includes the costs of all fundraising activities, events,
non-charitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
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 cos( 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.
18

Social Change Initiative
Company Limited by Guarantse
Notss to the Financial Statements (continuedj
Year ended 31 March 2025
Accounting policies (continuedj
Tangible assets (contlnued)
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..
Equipment
200￿ 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.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Investments in associates
Investments in associates accounted for In accordance with the cost model are recorded at cost
less any accumulated impairment losses.
Investments in ass¢xiates accounted for in accordance with the fair value model are initially
recorded at the transaction price. At each reporting date, the investments are measured at fair
value, with changes in fair value taken through income or expenditure. Where it is impracticable
to measure fair value reliably without undue cost or effort. the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without
regard to whether the distribub'ons are from accumulated profits of the associate arising before or
after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are
recorded at cost less any accumulated impairment losses.
Investrnents in jointly controlled entities accounted for in accordance with the fair value model are
initially recorded at the transaction price. At each reporting date, the investments are measured
at fair value, with changes in fair value taken through income or expenditure. Where tt is
impracticable to measure fair value reliably without undue cost or effort, the cost model will be
adopted.
19

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (contlnuedj
Year ended 31 March 2025
Accounting policies (￿ntinued)
Investments in joint ventures (continued)
Dividends and other distributions received from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the joint venture arising before
or after the date of acquisition.
Impainnent of fixed assets
A review for indicators of impairment Is carried out at eacn reporting date, with the recoverak)le
amount being estimated where such indicators exist. Imiere 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
cash-generating unit to which the asset belongs. The cash-generating unit is the sma15est
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash infiows 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.
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 receNable 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
Iplhere 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.
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 subsequenuy 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.
20

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements {¢ontinued)
Year ended 31 March 2025
Accounting policies (continued)
Flnancial instruments (continued)
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
activtties in which the initial gain was recognised.
For all equity instruments regardless of significance. and other financial assets that are
indivioually significant, these are assessed Individually for Impairment. Other tinancial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediatety, 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 contrtbution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contribub'ons are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
I￿en contributions are not expected to be settled wholty 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.
Limited by guarantee
The Social Change Initiatwe is a company limited by guarantee governed by its Memorandum
and Articles of Association dated 31st October 2017. Its application to be recognised as a charity
was ac￿pted by the Charity Commission for Northern Ireland on 30th April 2018.
21

Social Change Initiative
Company Limited by Guarantee
Notss to the Financial Ststsments {￿lI1nUedJ
Year ended 31 March 2025
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Fees for Service Work
CFI - All Ireland Convening
Rowan Trust- All Ireland Convening
Human Rights 360
CFI - Philanthropy Conf.
Miscellaneous Income
Joseph Rowntree Charitable Trust- Philanthropy
Conf.
CFNI Philanthropy Conf.
DFA- Supporting Palestinian INomen in Leadership
DFA_ World Values Follow Up
Porticus - Strengthening Activist Supports
DFA- Philanthropy Conf.
Foreign, Commonwealth & Development Office -
Philanthropy Conf.
International Fund Ireland - Philanthropy Conf.
Paul Hamlyn Foundation
Dunn Family Charitable Foundation
Bertha Foundation
43,700
43,700
2.377
2,377
20,514
104,986
20,514
104,986
60,000
37,520
40,835
263,855
60,000
37,520
40,835
309,932
46,077
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Fees for Service Vvork
CFI - All Ireland Convening
Rowan Trust- All Ireland Convening
Human Rights 360
CFI - Philanthropy Conf.
Miscellaneous Income
Joseph Rowntree Charitable Trust - Philanthropy
Conf.
CFNI - Philanthropy Conf.
DFA - Supporting Palestinian Women in Leadership
DFA - World Values Follow Up
Porticus - Strengthening Activist Supports
DFA - Philanthropy Conf.
Foreign, Commonwealth & Development Office-
Philanthropy Conf.
International Fund Ireland - Philanthropy Conf.
Paul Hamlyn Foundation
Dunn Family Charitable Foundation
Bertha Foundation
27,435
12,649
4,535
27,435
12,649
4,535
35,764
12,451
199
35,764
12,451
199
10,000
13.000
20,081
21.085
50,000
4.261
10,000
13.000
20,081
21,085
50,000
4,261
7,500
10.000
7,500
10,000
44,818
184,142
228,960
22

Social Change Initiative
Company Limitsd by Guarantee
Notss to the Financial Statements (Continued)
Year ended 31 March 2025
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Income from listed investments
Income from short term deposits
Bank interest received
93.936
121.818
1.595
93,936
121,818
1,595
167,265
167,265
2,320
2.320
217.349
217,349
169,585
169.585
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Support of Social Change
Support costs
16,524
883,902
146,151
900,426
146,151
16,524
1,030,053
1,046,577
Unrestricted
Funds
ReatrI￿ed Total Fund8
Funds
2024
Support of Social Change
Support costs
37,038
911,984
146,979
949,022
146,979
37,038
1,058,963
1.og6,001
Analysis of support costs
Analysis of
support costs Total 2025 Total 2024
Staff costs
Premises
Communications and IT
General office
Governance costs
71,099
30,441
15,531
8,279
20,801
71,099
30,441
15,531
8,279
20,801
69,059
43,438
13,160
8,278
13,044
146,979
146.151
146,151
Net losses on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Gainsl(losses) on listed investments
{20.630)
(20,630)
(2,699)
(2,699)
23

Social Change Initiative
Company Limitsd by Guarantee
Notes to the Financial Ststsments (continued)
Year ended 31 March 2025
10. Net expenditure
Net expenditure is stated after chargingl(crediting)=
2025
2024
Depreciation of tangible fixed assets
1.806
1,893
11. Auditors remuneration
202S
2024
Fees payable for the audit of the financial statements
4,410
4.265
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
Wages and salaries
Social security costs
Employer contributions to pension plans
Other employee benefits
538,628
45,581
79.780
22,145
523,174
67,781
77,079
23,374
686,134
691,408
The average head count of employees during the year was 6 (2024.. 5).
The number of employees whose remuneration for the year fell within the following bands, were..
2025
2024
No.
£60,000 to £69,999
£70,000 to £79,999
£80,000 to £89,999
£130,000 to £139,999
£190,000 to £199,999
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controlling the activits-es of the charity. The total compensation paid to key
management personnel for services provided to the charity was £515,298 (2024: £512.608).
13. Trustee remuneration and expenses
The organisations trustees were not paid or received any other benefits from employment with
the organisation in the year. Trustees were reimbursed travel expenses during the year totalling
£1,454.(2024: £103). None of the organisation's trustees re￿iVed payment for professional or
other seNices supplies to the organisation.
24

Social Change Initiative
Company Limited by Guarantse
Notes to the Financial Statements (conllnuedj
Year ended 31 March 2025
14. Tangible fixed assets
Fixtures and
fittings
Equipment
Total
Cost
At 1 April 2024
Additions
5,000
16,795
775
21,795
775
At 31 March 2025
5,000
17,570
22.570
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
14,115
1,806
14,115
1,806
15,921
15,921
Carrying amount
At 31 March 2025
5,000
1,649
6,649
At 31 March 2024
5.000
2.680
7,680
15. Investments
Llsted
investments
Cost or valuation
At 1 April 2024
Additions
Disposals
Income
Management Fees
Withdrawals
Fair value movements
3,298,203
923,161
(923,161)
93,936
(21,035)
{800,000)
(20,630)
2.550,474
At 31 March 2025
Impairment
At 1 April 2024 and 31 March 2025
Carrying amount
At 31 March 2025
2,550,474
At 31 March 2024
3,298,203
All investments shown above are held at valuation.
Financial assets held at fair value
All investments shown above are held at valuation
25

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
16. Debtors
2025
2024
Prepayments and accrued income
Other debtors
11,127
35,654
3,720
533
46,781
4,253
17. Investments
2025
2024
Bank investments
1.073,474
952,022
18. Cash and cash equivalents
Cash and cash equivalents comprise the following:
2025
2024
Cash at bank and in hand
Short-term deposits
237,198
1.073,474
210,894
952,022
1.310,672
1,162,916
19. Creditors: amounts falling due within one year
2025
2024
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors
4,876
19,744
1,169
12,544
22,242
7,215
24,620
43,170
20. Pensions and other post retirement benefits
Defined contributlon plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £79,780 (2024.. £77.079).
26

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Ststsments {continuedJ
Year ended 31 March 2025
21. Analysis of charitable funds
Unrestricted funds
At
1 Apr 2024
Gains and
At
losses 31 Mar 2025
Income Expenditure
Transfers
General funds
1.110,388
263,426
(16.524)
(20,630) 1,336,660
At
1 Apr 2023
Gains and
At
1055es 31 Mar 2024
Income Expenditure
Transfers
General funds
886,050
214,403
(37,038)
49.672
(2,699) 1,110,388
27

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
21. Analysis of charitable funds (continuedj
Restricted funds
At
1 Apr 2024
Gains and
At
losses 31 Mar 2025
Income Expenditure
Transfers
Adantic
Philanthropies
Atlantic
Philanthropies
Fellowships
Atlantic
Philanthropies
Migration
Atlantic
Philanthropies
Assets in Kind
Porticus-
Fellowship and
Mentoring
Atlantic
Philanthropios
Migration
Narrative
Porticus Nl
Shared Education
and learning
Porticus
monitoring hate
and tension
Joseph Rowntree
CFNI
Community
Foundation
Ireland- All Ireland
Convening
Porticus- World
Values Survey
DFA- Supporting
Palestinian
Women's
Leadership
DFA- WVS
Porticus -
Strengthening
Activist Supports
DFA- P&P
3,149,316
(839.629)
2,309,687
70,089
(27.702)
42,387
29,057
29,057
16,197
(9.080)
7,117
7,923
20,515
(13,293)
15,145
46,912
104.987
(53,761)
98,138
Conference
FCDO- P&P
Conference
IFI- P&P
Conference
28

Social Change Initiative
Company Limited by Guarantse
Notes to the Financial Statsments (continued)
Year ended 31 March 2025
21. Analysis of charitable funds {continuedJ
CFI- P&P
Conference
CFNI- P&P
Conference
Paul Hamlyn
Dunn Family
Bertha
Foundation
60,000
37.519
(8,235)
(37,519)
51,765
40.834
(40,834)
3.319,494
263,855 (1.030,053)
2,553,296
At
1 Apr 2023
Gains and
At
losses 31 Mar 2024
Income Expenditure
Transfers
Atlantic
Philanthropies
Atlantic
Philanthropies
Fellowships
Atlantic
Philanthropies
Migration
Atlantic
Philanthropies
Assets in Kind
Portlcus-
Fellowship and
Mentoring
Atlantic
Philanthropies
Migration
Narrative
Porticus Nl
Shared Education
and learning
Porticus
monitoring hate
and tension
Joseph Rowntree
CFNI
3,479,392
(808,969)
478,893
3,149,316
39,313
(33.221)
{6,092)
234,025
(8.175) (225,850)
5,000
(5,000)
12.153
(12,153)
200,680
213,399
35.764
(236,444)
(105,511) (37,799)
70.089
29.057
29,057
16,197
16,197
10,000
(10,000)
5.000
(5,000)
29

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinuedJ
Year ended 31 March 2025
21. Analysis of charitable funds (continued)
Community
Foundation
Ireland- All Ireland
Convening
Porticus- World
Values Survey
DFA- Supporting
Palestinian
Women's
Leadership
DFA- WVS
Porticus -
Strengthening
Acttvist Supports
{229)
229
10,000
(10,000)
20.081
21.085
(20.257)
(12.530)
176
(632)
7.923
50.000
(3.088)
46,912
DFA- P&P
Conference
FCDO- P&P
Conference
IFI- P&P
Conference
CFI- P&P
Conference
CFNI- P&P
Conference
Paul Hamlyn
Dunn Famlly
Bertha
Foundation
4.261
(4.261)
7.500
(7.500)
10.000
(10.000)
12,451
(12.451)
13,000
(13.000)
4,243,987
184,142 (1.058,963) (49,672)
3.319,494
Transfers have taken place during the year in relation to recharges for overheads between the
funds, these transfers totalled £49.672 (2023: £29.926)
30

Social Change Initiative
Company Limited by Guarantee
Notes to the Financial Statements (continuedj
Year ended 31 March 2025
22. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
6,649
2,571,267
(24.620)
2,553,296
6,649
3,907,927
(24,620)
3,889,956
1,336.660
1,336,660
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Currant assets
Creditors less than 1 year
Net assets
7,680
3,354,984
(43.170)
3,319,494
7,680
4,465,372
(43,170)
4,429,882
1,110,388
1,110,388
23. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare
and submtt retums to the tax authorities and assist with the preparation of the financial
statements.
24. Taxation
The Company is a registered charity, and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary objects'ves.
25. Contingencies
A contingent liability exists to repay grants and Trust monies received should certain conditions
not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers
have been, or will be, complied with and no liability is expected.
26. Related parties
The Trustees have considered guidance in relation to related party transactions and believe
there are no transactions that require disclosure.
27. Analysis of changes in net debt
At
At 1 Apr 2024 Cash flows 31 Mar 2025
Cash at bank and in hand
Current asset investments
210.894
952.022
26,304
121.452
237,198
1.073,474
1,162.916
147,756
1.310,672
31