Charity registration number SC042667 (Scotland)
Company registration number SC407953
POSTCODE CARE TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
POSTCODE CARE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Directors | Ian Dommett |
|---|---|
| Elizabeth Tait | |
| Lynne Bell | |
| Doug Parkhill | |
| John Herriman | |
| Executive Manager | Laura Chow |
| Charity number (Scotland) | SC042667 |
| Company number | SC407953 |
| Gambling Licence numbers | Non remote: 000-030803-N-311904 |
| Remote: 000-030803-R-311903 | |
| Registered office | 28 Charlotte Square |
| Edinburgh | |
| Scotland | |
| EH2 4ET | |
| Independent auditors | PricewaterhouseCoopers LLP |
| Edinburgh Atria One | |
| PwC LLP Atria One | |
| 144 Morrison Street | |
| Edinburgh | |
| EH3 8EX | |
| United Kingdom | |
| Bankers | Lloyds PLC |
| 39 Threadneedle Street | |
| London | |
| UK | |
| EC2R 8AU | |
| Solicitors | MacRoberts LLP |
| 10 George Street | |
| Edinburgh | |
| UK | |
| EH2 2PF |
POSTCODE CARE TRUST
CONTENTS
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Page(s)
Directors' report 1 - 7
Strategic report 8
Independent auditors' report to the members and trustees of Postcode Care Trust 9 - 12
Statement of financial activities including income and expenditure account 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 22
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POSTCODE CARE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their annual report and audited financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Company's governing document, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities
Postcode Care Trust has a vision that all those living with health conditions or illness, and those who care for them, are supported to live well.
We want a world where those who require it receive information and support at the right time, delivered with care and compassion, in order to maximise their resilience, physical health and mental wellbeing.
Postcode Care Trust’s mission is to improve the health and lives of communities. The Trust supports charities and good causes with those purposes through grant funding for charitable activities across Great Britain.
The Trust supports charities and good causes with those purposes through grant funding for charitable activities across Great Britain. The Trust was established to:
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advance health and provide relief of those in need by reason of age, ill health, disability, financial hardship or others disadvantage.
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improve the lives of children and young people, and the communities in which they live. maintain and advance the health of communities.
Postcode Care Trust is solely funded by the proceeds of its society lottery and awards grants to good causes and charities that focus on key health issues impacting the lives of communities, including dementia, cancer, sight loss and supporting unpaid carers.
Postcode Care Trust operates its own society lottery which is regulated by the Gambling Commission under certificate 030803-N-311904-011 and 030803-R-311903-011. The Trust engages Postcode Lottery Limited (PLL), trading as Postcode Lottery, as its External Lottery Manager.
Grant making policy
The Trust team research a selection of potential grant beneficiaries with aims in line with the objects of the Trust, the current funding strategy and budget. This selection is presented to the Directors, who make recommendations to invite charities to apply. Once applications are received, the Directors make a final decision of who to support.
Funds are awarded in order to support sustainable long-term partnerships. At the point of application an indicative award amount is communicated. The final award is decided by the Directors on approval of the application.
The Trust awards unrestricted, flexible funding on an annual basis to each regular, supported charity. Funds are awarded to support sustainable, long-term partnerships, with a formal review after three years. Where our long-term partners are able to demonstrate impact aligned to our values and subject to the availability of funding, we will seek to provide uplifts over time where possible to enable them to do even more to create a better world.
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Where funding allows, at the discretion of the trust, one-off awards may be offered for: a special project which meets the thematic and geographic priorities of the Trust; building capacity for long-term growth or organisation strengthening and sustainability additional support in emergency situations or to tackle specific needs; working in partnership with other funders on collaborative approaches to maximise impact
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POSTCODE CARE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Achievements and performance
Significant activities and achievements against objectives
- In 2025, we were able to fund 17 charities working in Great Britain on health. These were: Carers Trust - Health, Sport & Wellbeing Alzheimer's Society - Health, Sport & Wellbeing Breast Cancer Now - Health, Sport & Wellbeing Dementia Adventure - Health, Sport & Wellbeing Maggie's - Health, Sport & Wellbeing Royal National Institure of Blind People - Health, Sport & Wellbeing Trussell - Health, Sport & Wellbeing Scotland's Charity Air Ambulance - Health, Sport & Wellbeing The Food Train - Health, Sport & Wellbeing Hospice UK - Health, Sport & Wellbeing MIND - Health, Sport & Wellbeing Asthma and Lung UK - Health, Sport & Wellbeing Movember - Health, Sport & Wellbeing SCOPE - Health, Sport & Wellbeing Make a Wish - Health, Sport & Wellbeing Young Lives vs Cancer - Health, Sport & Wellbeing Royal Voluntary Service - Health, Sport & Wellbeing
Case Study: Scotland's Charity Air Ambulance
What began as a family day out at the Glenlivet Mountain Bike Trail Centre for Steph soon escalated into a race against time to save her life.
Steph, a schoolteacher from Kemnay in Aberdeenshire, was enjoying the Easter holidays with her family when her condition began to rapidly deteriorate.“I was trying to keep up with my eldest daughter on the trails when I suddenly felt really ill,” the 51-year-old says. “My eyesight became blurry, and I knew I was going to pass out.”She managed to manoeuvre herself off the trail before falling unconscious. The mother of two regained consciousness shortly before hearing voices crowd around her. “Thankfully I was close to a road at the edge of the forest,” recalls Steph. “A member of staff from the centre arrived on a quadbike and I believe he called 999. “That’s roughly when the pain in my chest started. It then radiated down to my elbows, and I couldn’t feel my hands or open my eyes … it was unbearable. I couldn’t move, my arms and legs felt so heavy, and I knew it wasn’t going to be possible for me to get myself up.”
A land ambulance arrived at the scene. An ECG test concluded that there was an issue with Steph’s heart. She was then transported to rendezvous with another land ambulance where paramedics were able to supply pain relief. Steph required urgent medical attention. The travel by road would clock in at over 1.5hours. Despite being in ‘unbearable’ pain, and unable to open her eyes, Steph remembers hearing the thud of helicopter rotor blades approach. Unaware of the severity of her situation, Steph was told by SCAA paramedics that she was having a heart attack. “It was too big to comprehend…I was in total shock,” she reflects.
Steph was packaged carefully into the helicopter and transferred to Aberdeen Royal Infirmary. “I had a stent fitted to fix a block in my right coronary artery. The whole operation was complete in 45 minutes, and I was allowed to go home after three days. I heard from the cardiologist the following day that I had had a lucky escape, but I eventually found out just how close I had been to dying.”
Since her heart attack, Steph has become an ardent supporter of SCAA. She is now a SCAA volunteer, regular giver, lottery player, and recently shared her emotional story at the charity’s Operation Skyward launch event held at our Aberdeen base. Here she was able to reunite with the crew and aircraft that played a vital role in getting her the medical care needed to save her in time. “It’s important for me that others get the same opportunity I did – for SCAA to reach more people in time”.
She said, “I didn’t expect to nearly die on a hillside in Glenlivet at the age of 51, that wasn’t part of my plan. My life was hanging in the balance. “Thank you is not enough but that’s all I can say. It’s a debt I can never repay.”
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POSTCODE CARE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Financial review
The Directors are closely monitoring performance and remain confident in the resilience of the subscription model to protect the Trust’s revenues and amounts raised for good causes in 2025 and beyond.
All funds received from proceeds of Postcode Lottery relating to Postcode Care Trust have been included in the financial statements. This amounted to £48,972,527 (2024: £48,955,478). Of this, and included in expenditure on raising funds, 40%: £19,589,011 (2024: 40%: £19,582,191) is given out as prizes and 28%: £13,586,127 (2024: 27%: £13,217,979) is retained by our External Lottery Manager which is Postcode Lottery Limited. The remaining 32%: £15,797,389 (2024: 33%: £16,155,308) is managed by Postcode Care Trust. Postcode Care Trust promoted twelve draws during 2025 (2024: twelve draws).
£16,857,308 (2024: £17,850,000) was given out in grants for charitable activities in the year with £141,014 (2024: £77,083) of costs to support these activities. Of this, £7,322 (2024: £7,506) was included in Governance Costs.
Directors consider new beneficiaries of funds regularly, depending on the level of funds forecast to be received in the year.
Going concern
These financial statements have been prepared on the going concern basis which assumes that the charity will continue its operations. With having a single source of income, the Directors remain confident in the resilience of the subscription model of Postcode Lottery to protect the Trust income. In the event of a substantial change in circumstances significantly reducing revenue, the Trust holds sufficient cash reserves to ensure it can continue operations for the foreseeable future.
The Trust only awards grants once there is a level of certainty in the income due to be received. With any downturn in income, the Trust is in a position to adjust grant levels accordingly to ensure that the Trust remains to be a going concern.
The Directors consider it appropriate to prepare financial statements on a going concern basis.
Reserves policy
As a company limited by guarantee with no fixed assets, reserves are set according to budgeted income and against obligations for continuous funding for supported charities. It is intended to mitigate against uncertainty relating to cash flow, to ensure that there are sufficient reserves to cover any financial shortfalls, to react to unexpected situations, to protect the Trust’s activities if expected income is not received and to retain continuity in relation to expected grant awards.
The Trust’s sole income is generated by its society lottery operated by its External Lottery Manager, Postcode Lottery.
We aim to hold financial reserves at a minimum of 25% of the annual provisional funding commitments, and a maximum of £500,000 above the minimum level within general funds. We acknowledge that from time to time the Trust’s funding strategies and activities may require the Trust’s reserves to exceed the maximum level or fall below the minimum level noted.
The Trust only awards grants once there is a level of certainty in the income due to be received. With any downturn in income, the Trust is in a position to adjust grant levels accordingly to ensure that the Trust remains to be a going concern.
At 31 December 2025, reserves were at £4,276,202 of which £3,376,202 related to general reserves. This is a decrease in general reserves of £52,002 from the prior year. This level of general reserves is marginally below reserves policy and expect this will be built up to the required level during the next year, based on the forecast sales levels.
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POSTCODE CARE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Major risks
The Directors have a risk management strategy which comprises:
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evaluation and review of risks to the Trust and its External Lottery Manager (ELM) at each Audit & Risk Committee meeting, and full Board meeting against the Risk Register;
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the Risk Register will be managed on a day-to-day basis by the Trust executive management team and they will establish systems and procedures to mitigate these risks;
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in the event of a risk rising above ‘high’ the Directors must implement procedures to manage any potential impact.
This strategy has identified the following key risks:
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Risk of the Government changing the law in relation to Society Lotteries. A review of the law relating to Society Lotteries is on-going, and both Directors and the Trust executive management team keep up to date with any information in relation to this.
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Risk of losing Gambling Licence due to non-compliance with the Gambling Commission Licence Conditions and Code of Practice (LCCP). Again, this is managed by adhering closely to the LCCP and being aware of anticipated changes to guidance and keeping abreast of industry best practice.
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Risk of dependence on one source of income and this income being lost. If the income were to reduce, this would be on a gradual basis. The Trust executive management team receive daily reports regarding ticket sales, so would be aware of any issues very quickly and these would be communicated to Directors.
Plans for future periods
With having a single source of income, the Directors remain confident in the resilience of the subscription model of Postcode Lottery to protect the Trust income. In the event of a substantial change in circumstances significantly reducing revenue, the Trust holds sufficient cash reserves to ensure it can continue operations for the foreseeable future.
In order for the Trust to fulfil its vision, in the next three years prioritisation will be given to health conditions affecting communities across Great Britain, such as heart disease and hearing loss, alongside funding preventative work such as tackling health inequalities and the social determinants of health.
We explore how the work of our partner charities is aligned to the Sustainable Development Goals and continuously review how we can complement support from government, corporate and other funders to create change. We include support for advocacy in our work.
The Trust intends to fund supported charities during 2026, increasing the award levels many of them will receive and potentially funding a few one-off awards.
Structure, governance and management
Governance
Postcode Care Trust is a company limited by guarantee, constituted by the Memorandum and Articles of Association and is governed by its elected Directors. New Directors are elected at twice yearly meetings and a Director shall hold office for a maximum period of four years from the date of appointment and shall then retire. Such person shall not again be appointed as a Director unless the Directors resolve that there are exceptional circumstances in that such individual possesses specific or unique skills and expertise, experience or ability of significant value to the Company. In such circumstances, a retiring Director may, if willing to act, be re-appointed by the Directors for a second and final term of a maximum of four years and shall at the end of that second term retire altogether so that no Director shall hold office as Director for more than eight years in total.
The Directors who served during the year and up to the date of signature of the financial statements were: Ian Dommett Elizabeth Tait Lynne Bell Doug Parkhill John Herriman
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POSTCODE CARE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Recruitment and appointment of directors
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No person shall be appointed or re-appointed as Director at any general meeting unless: he/she is recommended by the Directors; or
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not less than fourteen or more than thirty-five clear days before the date appointed for the meeting, notice executed by a member qualified to vote at the meeting has been given to the Company of the intention to propose that person for appointment or re-appointment together with notice executed by that person of his willingness to be appointed or reappointed.
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not less than seven nor more than twenty-eight clear days before the date appointed for holding a general meeting notice shall be given to all who are entitled to receive notice of the meeting of any person who is recommended by the Directors for appointment or re-appointment as a Director at the meeting or in respect of whom notice has been duly given to the Company of the intention to propose him at the meeting for appointment or re-appointment as a Director. The notice shall give the particulars of that person which would, if he were so appointed or re-appointed, be required to be included in the Company’s register of Directors.
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the Company may by Ordinary Resolution appoint a person who is willing to act to be a Director either to fill a vacancy or as an additional Director.
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the Directors may appoint a person who is willing to be a Director, either to fill a vacancy or as an additional Director, provided the appointment does not cause the number of Directors to exceed any number fixed by or in accordance with the Articles as the maximum number of Directors.
Unless otherwise determined by ordinary resolution, the number of Directors shall not be subject to any maximum but shall not be less than three. The Board of Directors shall at all times comprise a majority of non-remunerated Directors.
Organisational structure
The business of Postcode Care Trust is managed by the Directors who exercise all the powers of the Company. No alteration of the memorandum or articles and no such direction shall invalidate any prior act of the Directors. The Directors ultimately decide the procedures for selection of projects and the amounts of grants involved. Directors meet formally twice a year. These are chaired and fully minuted to discuss and decide the following:
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Management of the Trust’s Society Lottery, including social responsibility and current management by the Trust’s External Lottery Manager
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Applications received
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Outcomes of completed projects
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Progress of current funding
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New funding streams/programmes Review of finances
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Review of risk register Any other business
The Directors of Postcode Care Trust engage Postcode Lottery Limited (who operate under brand name Postcode Lottery) as their external lottery manager.
The Trust engaged MacRoberts LLP as its solicitor to use in all cases where legal services are required.
Induction and training of directors
Directors receive an induction handbook covering all relevant policies, procedures and any other relevant information. They also have the opportunity for yearly training and continued professional development.
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POSTCODE CARE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Staff Structure
The Board of Directors appointed an Executive Manager of Postcode Care Trust to oversee the day-to-day administration of the Trust. The Executive Manager is responsible for strategy advice and the day-to-day operations of Postcode Care Trust. The Manager appointed the Trust team to undertake day-to-day activities including the following:
Screening of all funding proposals;
Assessing complete applications and providing short summaries for the Directors to make decisions; Management of Director meetings including consultation of Directors where desirable or needed; Management of marketing/communication on behalf of the Trust including websites, newsletters, publicity etc.
The Trust finance team provide financial management services for Postcode Care Trust including the following: Management of the bank account which will receive payments direct from Postcode Lottery Limited; Monthly financial updates including income position, breakdown of costs, and awards made; Making payments to recipient projects;
Reporting of lottery proceeds to Gambling Commission.
As part of services provided as outlined in the Services Agreement that exists between the Trust and Postcode Lottery Limited, staff mentioned above are employed by Postcode Lottery Limited. Salaries for key management personnel are determined by the Directors of Postcode Lottery Limited.
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POSTCODE CARE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Statement of directors’ responsibilities in respect of the financial statements
The trustees (who are also directors of Postcode Care Trust for the purposes of company law) are responsible for preparing the Annual Report And Financial Statements in accordance with applicable law and regulation.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law).
Under company law, directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Statement of Recommended Practice: Accounting and Reporting by Charities (2019);
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state whether applicable United Kingdom Accounting Standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; make judgements and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are also responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.
The directors are responsible for the maintenance and integrity of the company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Directors’ confirmations
In the case of each director in office at the date the directors’ report is approved:
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so far as the director is aware, there is no relevant audit information of which the company’s auditors are unaware; and
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they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.
The Directors' report was approved by the Board of Directors.
Ian Dommett Chair
8 June 2026
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POSTCODE CARE TRUST
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their strategic report on the Trust for the year ended 31 December 2025.
Business Review
The description under the headings "Achievements and performance" meet the company law requirements for the Directors to present a strategic report.
Performance Analysis and Financial KPIs
The description under the headings "Financial review" meet the company law requirements for the Directors to present a strategic report.
Key Business Objectives and Strategy
The description under the headings "Objectives and activities" meet the company law requirements for the Directors to present a strategic report.
Principal Risks and Uncertainties
The description under the headings "Financial review" meet the company law requirements for the Directors to present a strategic report.
On behalf of the board
Ian Dommett Director
8 June 2026
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POSTCODE CARE TRUST
INDEPENDENT AUDITORS' REPORT
TO THE MEMBERS AND TRUSTEES OF POSTCODE CARE TRUST
Report on the audit of the financial statements
Opinion
In our opinion, Postcode Care Trust’s financial statements ("the financial statements”):
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give a true and fair view of the state of the charitable company’s affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, and cash flows, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law); and
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have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation of The Charities Accounts (Scotland) Regulations 2006 (as amended).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remained independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements.
Conclusions relating to going concern
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 the charitable company’s ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements are authorised for issue.
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charitable company’s ability to continue as a going concern.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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POSTCODE CARE TRUST
INDEPENDENT AUDITORS' REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF POSTCODE CARE TRUST
Reporting on other information
The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.
In connection with our audit of the financial statements, 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 audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. 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 based on these responsibilities.
With respect to the Strategic Report and Directors’ Report, we also considered whether the disclosures required by the UK Companies Act 2006 have been included.
Based on our work undertaken in the course of the audit, the Companies Act 2006 and The Charities Accounts (Scotland) Regulations 2006 (as amended) require us also to report certain opinions and matters as described below.
Strategic report and Directors’ Report
In our opinion, based on the work undertaken in the course of the audit the information given in the Directors’ Report, including the Strategic Report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Strategic report and Directors’ report been prepared in accordance with applicable legal requirements.
In addition, in light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we are required to report if we have identified any material misstatements in the Strategic report and Directors’ report. We have nothing to report in this respect.
Responsibilities for the financial statements and the audit
Responsibilities of the directors for the financial statements
As explained more fully in the Statement of directors' responsibilities in respect of the financial statements, the Directors are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The directors are also responsible for such internal control as they 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 directors 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditors’ responsibilities for the audit of the financial statements
We have been appointed as auditors under section 44(1) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
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 auditors’ 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.
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POSTCODE CARE TRUST
INDEPENDENT AUDITORS' REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF POSTCODE CARE TRUST
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, is detailed below.
- enquiring of management and the directors to identify any instances of non-compliance with laws and regulations, fraud or inappropriate use of charitable funds; understanding the approach taken by management and the directors to monitor compliance with laws and regulations, and to prevent fraud or inappropriate use of charitable funds; validating, for a sample of charitable payees, that appropriate and sufficient evidence over bank details was obtained by management, and that proper controls are in place over payee details; and testing that payments recorded within the financial statements can be traced to appropriate supporting documentation.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.
Use of this report
This report, including the opinions, has been prepared for and only for the charitable company’s members and directors as a body in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and the Companies Act 2006 and regulations made under those Acts (regulation 10 of The Charities Accounts (Scotland) Regulations 2006 (as amended) and Chapter 3 of Part 16 of the Companies Act 2006) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
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POSTCODE CARE TRUST
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF POSTCODE CARE TRUST
Other required reporting
Matters on which we are required to report by exception
Under the Companies Act 2006 and The Charities Accounts (Scotland) Regulations 2006 (as amended) we are required to report to you if, in our opinion:
we have not obtained all the information and explanations we require for our audit; or
- adequate and proper accounting records have not been kept by the charitable company or returns adequate for our audit have not been received from branches not visited by us; or
certain disclosures of directors’ remuneration specified by law are not made; or
the financial statements are not in agreement with the accounting records and returns.
We have no exceptions to report arising from this responsibility.
Thomas Kendall (Senior Statutory Auditor) for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors Edinburgh 8 June 2026
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POSTCODE CARE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
| Unrestricted Unrestricted funds funds general designated 2025 2025 Note £ £ |
Unrestricted Unrestricted funds funds general designated 2025 2025 Note £ £ |
Unrestricted Unrestricted funds funds general designated 2025 2025 Note £ £ |
Unrestricted Unrestricted funds funds general designated 2025 2025 Note £ £ |
Total Unrestricted Unrestricted |
Total Unrestricted Unrestricted |
Total Unrestricted Unrestricted |
Total 2024 £ 48,955,478 412,370 49,367,848 |
|---|---|---|---|---|---|---|---|
| funds funds general designated |
funds funds general designated |
||||||
| 2025 | 2025 | 2025 | 2024 | 2024 | |||
| £ | £ | £ | £ | £ | |||
| Income from: | |||||||
| Other trading activities 3 |
48,972,527 | ~~-~~ | 48,972,527 | 48,955,478 | ~~-~~ | ||
| Investments 4 |
271,450 | ~~-~~ | 271,450 | 412,370 | ~~-~~ | ||
| Total income 49,243,977 Expenditure on: Raising funds 5 (33,197,657) Charitable activities 6 (16,098,322) Total expenditure (49,295,979) Net expenditure and movement in funds (52,002) |
|||||||
| 49,243,977 | ~~-~~ | 49,367,848 | ~~-~~ | ||||
| (900,000) (16,998,322) (16,827,083) |
(1,100,000) (17,927,083) |
||||||
| (1,100,000) (50,736,399) |
|||||||
| (52,002) | (900,000) | (268,551) | (1,100,000) | (1,368,551) | |||
| 6,596,755 5,228,204 |
|||||||
| Reconciliation of funds: | |||||||
| Fund balances at 1 January | 3,428,204 | 1,800,000 | 5,228,204 | 3,696,755 | 2,900,000 | ||
| Fund balances at 31 December |
|||||||
| 3,376,202 | 900,000 | 4,276,202 | 3,428,204 | 1,800,000 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 13 -
POSTCODE CARE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2025
| Note Current assets |
2025 | 2025 | 2024 | 2024 |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| 511,944 4,301,854 4,813,798 (537,596) |
3,414,685 5,222,127 8,636,812 (3,408,608) 4,276,202 |
|||
| Debtors 11 |
||||
| Cash at bank and in hand Creditors: amounts falling due within one year 12 |
||||
| Net current assets | 5,228,204 | |||
| The funds of the Company | ||||
| Unrestricted funds - general 13 Unrestricted funds - designated 14 |
3,376,202 900,000 4,276,202 |
3,428,204 | ||
| 1,800,000 | ||||
| 5,228,204 |
The financial statements on pages 13 to 22 were approved by the Board of Directors on 8 June 2026
Ian Dommett Chair
Company registration number SC407953 (Scotland)
- 14 -
POSTCODE CARE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
| Note Cash flows from operating activities Cash absorbed by operations 17 Investing activities |
2025 | 2024 £ £ (1,781,960) 412,370 412,370 (1,369,590) 6,591,717 5,222,127 |
2024 £ £ (1,781,960) 412,370 412,370 (1,369,590) 6,591,717 5,222,127 |
|---|---|---|---|
| £ £ |
|||
| (1,191,723) 271,450 271,450 (920,273) 5,222,127 4,301,854 |
|||
| Bank interest | |||
| Net cash generated from investing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
|||
| 6,591,717 5,222,127 |
- 15 -
POSTCODE CARE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
Charity information
Postcode Care Trust is a private company limited by guarantee incorporated in Scotland. The registered office is 28 Charlotte Square, Edinburgh, EH2 4ET, Scotland.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Company's governing document, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Company is a Public Benefit Entity as defined by FRS 102.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
These financial statements have been prepared on the going concern basis which assumes that the charity will continue its operations. With having a single source of income, the Directors remain confident in the resilience of the subscription model of Postcode Lottery to protect the Trust income. In the event of a substantial change in circumstances significantly reducing revenue, the Trust holds sufficient cash reserves to ensure it can continue operations for the foreseeable future.
The Trust only awards grants once there is a level of certainty in the income due to be received. With any downturn in income, the Trust is in a position to adjust grant levels accordingly to ensure that the Trust remains to be a going concern.
The Directors consider it appropriate to prepare financial statements on a going concern basis.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.
Designated funds are unrestricted funds earmarked by the Directors for particular purposes.
1.4 Income
Income is recognised when the charity has entitlement to the funds, when it is probable that the income will be received, and the amount can be measured reliably. Income from other trading activities include gross proceeds from the sale of Lottery tickets before deduction of up to 40% of proceeds for prizes and up to 30% for operations costs.
1.5 Expenditure
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the statement of financial activities.
Grants awarded are recognised in full in the year in which they are approved.
The expenditure on raising funds consist of direct expenditure including prize monies as well as operational costs including marketing and PR.
- 16 -
POSTCODE CARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash at bank and in hand includes cash and highly liquid short-term investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Interest on funds is recognised when the charity has entitlement to the funds, when it is probable that the income will be received, and the amount can be measured reliably.
1.7 Financial instruments
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.
Basic financial assets
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.
Basic financial liabilities
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a 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.
2 Critical accounting estimates and judgements
The preparation of the financial statements requires judgement, estimates and assumptions to be made that affect the reported values of assets, liabilities revenues and expenses. The charity has not identified any area where critical estimates are required.
The charity has made a judgement that they are acting as principal for the draws carried out by Postcode Lottery Limited.
3 Income from other trading activities
| Unrestricted funds 2025 £ |
Unrestricted funds 2025 £ |
Unrestricted funds 2025 2024 % £ 100.00% 48,955,478 (40.00)% (19,582,191) (27.74)% (13,217,979) 32.26% 16,155,308 |
Unrestricted funds 2025 2024 % £ 100.00% 48,955,478 (40.00)% (19,582,191) (27.74)% (13,217,979) 32.26% 16,155,308 |
|
|---|---|---|---|---|
| 2024 | ||||
| % | ||||
| Total proceeds 48,972,527 |
100.00% | |||
| Prizes (19,589,011) Operational costs (13,586,127) |
(40.00)% | |||
| (27.00)% | ||||
| Lottery fund allocation | 15,797,389 | 16,155,308 | 33.00% |
- 17 -
POSTCODE CARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
4 Income from investments
| Unrestricted Unrestricted funds funds 2025 2024 £ £ Bank interest 271,450 412,370 |
Unrestricted Unrestricted funds funds 2025 2024 £ £ Bank interest 271,450 412,370 |
Unrestricted Unrestricted funds funds 2025 2024 £ £ Bank interest 271,450 412,370 |
|---|---|---|
| funds | ||
| 2024 | ||
| £ | ||
| 412,370 | ||
| 5 Expenditure on raising funds |
||
| Unrestricted Unrestricted funds funds 2025 2024 £ £ Fundraising and publicity Prizes 19,589,011 19,582,191 Operational costs 13,586,127 13,217,979 Gambling Commission 22,519 9,146 33,197,657 32,809,316 6 Expenditure on charitable activities Expenditure on charitable activities Expenditure on charitable activities 2025 2024 £ £ Direct costs Grant funding of activities (see note 7) 16,857,308 17,850,000 Share of support and governance costs (see note 8) Support 133,692 69,577 Governance 7,322 7,506 16,998,322 17,927,083 Analysis by fund Unrestricted funds - general 16,098,322 16,827,083 Unrestricted funds - designated 900,000 1,100,000 16,998,322 17,927,083 |
||
| 2024 | ||
| £ | ||
| 17,850,000 | ||
| 69,577 | ||
| 7,506 | ||
| 17,927,083 | ||
| 16,827,083 | ||
| 1,100,000 | ||
| 17,927,083 |
- 18 -
POSTCODE CARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
7 Grants payable
| Expenditure on charitable activities Expenditure on charitable activities 2025 2024 £ £ Grants to institutions (17 grants): Type of project Carers Trust Health, Sport & Wellbeing 1,000,000 1,000,000 Alzheimer's Society Health, Sport & Wellbeing 1,000,000 800,000 Breast Cancer Now Health, Sport & Wellbeing 2,500,000 2,500,000 Dementia Adventure Health, Sport & Wellbeing 400,000 400,000 Maggie's Health, Sport & Wellbeing 3,000,000 3,000,000 Royal National Institure of Blind People Health, Sport & Wellbeing 2,500,000 2,250,000 Trussell Health, Sport & Wellbeing 520,000 1,000,000 Scotland's Charity Air Ambulance Health, Sport & Wellbeing 300,000 300,000 The Food Train Health, Sport & Wellbeing 200,000 200,000 Hospice UK Health, Sport & Wellbeing 620,000 1,000,000 MIND Health, Sport & Wellbeing 615,000 1,000,000 Asthma and Lung UK Health, Sport & Wellbeing 600,000 500,000 Movember Health, Sport & Wellbeing 300,000 300,000 SCOPE Health, Sport & Wellbeing 300,000 300,000 Make a Wish Health, Sport & Wellbeing 310,000 300,000 Young Lives vs Cancer Health, Sport & Wellbeing 2,500,000 3,000,000 Royal Voluntary Service Health, Sport & Wellbeing 192,308 - 16,857,308 17,850,000 |
Expenditure on charitable activities Expenditure on charitable activities 2025 2024 £ £ Grants to institutions (17 grants): Type of project Carers Trust Health, Sport & Wellbeing 1,000,000 1,000,000 Alzheimer's Society Health, Sport & Wellbeing 1,000,000 800,000 Breast Cancer Now Health, Sport & Wellbeing 2,500,000 2,500,000 Dementia Adventure Health, Sport & Wellbeing 400,000 400,000 Maggie's Health, Sport & Wellbeing 3,000,000 3,000,000 Royal National Institure of Blind People Health, Sport & Wellbeing 2,500,000 2,250,000 Trussell Health, Sport & Wellbeing 520,000 1,000,000 Scotland's Charity Air Ambulance Health, Sport & Wellbeing 300,000 300,000 The Food Train Health, Sport & Wellbeing 200,000 200,000 Hospice UK Health, Sport & Wellbeing 620,000 1,000,000 MIND Health, Sport & Wellbeing 615,000 1,000,000 Asthma and Lung UK Health, Sport & Wellbeing 600,000 500,000 Movember Health, Sport & Wellbeing 300,000 300,000 SCOPE Health, Sport & Wellbeing 300,000 300,000 Make a Wish Health, Sport & Wellbeing 310,000 300,000 Young Lives vs Cancer Health, Sport & Wellbeing 2,500,000 3,000,000 Royal Voluntary Service Health, Sport & Wellbeing 192,308 - 16,857,308 17,850,000 |
Expenditure on charitable activities Expenditure on charitable activities 2025 2024 £ £ Grants to institutions (17 grants): Type of project Carers Trust Health, Sport & Wellbeing 1,000,000 1,000,000 Alzheimer's Society Health, Sport & Wellbeing 1,000,000 800,000 Breast Cancer Now Health, Sport & Wellbeing 2,500,000 2,500,000 Dementia Adventure Health, Sport & Wellbeing 400,000 400,000 Maggie's Health, Sport & Wellbeing 3,000,000 3,000,000 Royal National Institure of Blind People Health, Sport & Wellbeing 2,500,000 2,250,000 Trussell Health, Sport & Wellbeing 520,000 1,000,000 Scotland's Charity Air Ambulance Health, Sport & Wellbeing 300,000 300,000 The Food Train Health, Sport & Wellbeing 200,000 200,000 Hospice UK Health, Sport & Wellbeing 620,000 1,000,000 MIND Health, Sport & Wellbeing 615,000 1,000,000 Asthma and Lung UK Health, Sport & Wellbeing 600,000 500,000 Movember Health, Sport & Wellbeing 300,000 300,000 SCOPE Health, Sport & Wellbeing 300,000 300,000 Make a Wish Health, Sport & Wellbeing 310,000 300,000 Young Lives vs Cancer Health, Sport & Wellbeing 2,500,000 3,000,000 Royal Voluntary Service Health, Sport & Wellbeing 192,308 - 16,857,308 17,850,000 |
|---|---|---|
| 2024 | ||
| £ | ||
| Grants to institutions (17 grants): Type of project |
||
| Carers Trust Health, Sport & Wellbeing |
1,000,000 | |
| Alzheimer's Society Health, Sport & Wellbeing |
800,000 | |
| Breast Cancer Now Health, Sport & Wellbeing |
2,500,000 | |
| Dementia Adventure Health, Sport & Wellbeing |
400,000 | |
| Maggie's Health, Sport & Wellbeing |
3,000,000 | |
| Royal National Institure of Blind People Health, Sport & Wellbeing |
2,250,000 | |
| Trussell Health, Sport & Wellbeing |
1,000,000 | |
| Scotland's Charity Air Ambulance Health, Sport & Wellbeing |
300,000 | |
| The Food Train Health, Sport & Wellbeing |
200,000 | |
| Hospice UK Health, Sport & Wellbeing |
1,000,000 | |
| MIND Health, Sport & Wellbeing |
1,000,000 | |
| Asthma and Lung UK Health, Sport & Wellbeing |
500,000 | |
| Movember Health, Sport & Wellbeing |
300,000 | |
| SCOPE Health, Sport & Wellbeing |
300,000 | |
| Make a Wish Health, Sport & Wellbeing |
300,000 | |
| Young Lives vs Cancer Health, Sport & Wellbeing |
3,000,000 | |
| Royal Voluntary Service Health, Sport & Wellbeing |
- | |
| 17,850,000 | ||
| Support costs allocated to activities | ||
| 2025 | 2024 | |
| £ | £ | |
| Cost recharges | 67,990 | 63,113 |
| Travel | 634 | 523 |
| Consultancy | 9,666 | 600 |
| Bank charges | 1 | 2 |
| Events | 2,904 | 1,763 |
| Subscriptions | 3,714 | 2,157 |
| Insurance | 1,703 | 1,419 |
| Public Relations | 40,157 | - |
| Conferences | 6,923 | - |
| Governance costs | 7,322 | 7,506 |
| 141,014 | 77,083 | |
| Analysed between: | ||
| Expenditure on charitable activities | 141,014 | 77,083 |
8 Support costs allocated to activities
- 19 -
POSTCODE CARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
| 8 Support costs allocated to activities |
(Continued) | (Continued) | (Continued) |
|---|---|---|---|
| Governance costs comprise: Audit fees Legal and professional |
|||
| 2025 | 2024 | ||
| £ | £ | ||
| 6,049 | 6,492 | ||
| 1,273 | 1,014 | ||
| 7,322 | 7,506 |
Cost recharges include salary, property and office costs incurred by the Postcode Lottery Limited which are recharged to the Trust under a Services Agreement.
| 9 Net movement in funds |
2025 | 2024 |
|---|---|---|
| The net movement in funds is stated after charging: Fees payable for the audit of the charity's financial statements |
£ | £ |
| 6,049 | 6,492 | |
| 10 Staff costs |
No Directors received remuneration during the year (2024: £nil).
Three Directors received reimbursement of travel expenses totalling £465 during the year (2024: £523). Directors’ indemnity insurance costing £1,703 (2024: £1,419) was purchased in the year.
The charity has no employees (2024: none). All services of individuals were obtained from Postcode Lottery Limited and invoiced to the charity. The amount attributable to key management personnel and recharged through the Services Agreement during the year was £3,146 (2024: £2,942).
11 Debtors
| 11 Debtors |
||
|---|---|---|
| Amounts falling due within one year: Other debtors 12 Creditors: amounts falling due within one year |
2025 | 2024 |
| £ | £ | |
| 511,944 | 3,414,685 | |
| Trade creditors Other creditors Accruals and deferred income |
2025 | 2024 |
| £ | £ | |
| 40,227 | 5,693 | |
| 491,319 | 3,396,993 | |
| 6,050 | 5,922 | |
| 537,596 | 3,408,608 |
- 20 -
POSTCODE CARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
13 Unrestricted funds - general
| At 1 January 2025 £ |
At 1 January 2025 £ |
Incoming resources Resources expended |
Incoming resources Resources expended |
At 31 December 2025 |
|---|---|---|---|---|
| 2025 | ||||
| £ | £ £ |
£ | ||
| 49,243,977 (49,295,979) |
||||
| General funds | 3,428,204 | 3,376,202 | ||
| Previous year: At 1 January 2024 £ |
Incoming resources |
Resources expended |
At 31 December 2024 |
|
| £ | £ | £ | £ | |
| General funds | 3,696,755 | 49,367,848 (49,636,399) |
3,428,204 | |
| Unrestricted funds - designated | ||||
| These are unrestricted funds which are material to the Company's activities. | ||||
| At 1 January 2025 £ Designated funds 1,800,000 |
||||
| Resources expended |
At 31 December 2025 |
|||
| £ | £ | £ | ||
| 1,800,000 | ||||
| Designated funds | (900,000) | 900,000 | ||
| Previous year: At 1 January 2024 £ Designated funds 2,900,000 |
Resources expended |
At 31 December 2024 |
||
| £ | £ | |||
| (1,100,000) | 1,800,000 |
14 Unrestricted funds - designated
2025 opening designated funds comprise of funds set aside for the following: Movember UK - £600,000 Scope - £600,000 Make a Wish UK - £600,000
The charities each applied for £300,000 during 2025 and were awarded these funds.
2025 closing designated funds comprise of funds set aside for the following: Movember UK - £300,000 Scope - £300,000 Make a Wish UK - £300,000
The charities will apply for these funds during 2026.
- 21 -
POSTCODE CARE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
15 Analysis of net assets between funds
| Unrestricted Unrestricted funds funds general designated 2025 2025 £ £ |
Unrestricted Unrestricted funds funds general designated 2025 2025 £ £ |
Unrestricted Unrestricted funds funds general designated 2025 2025 £ £ |
Total |
|---|---|---|---|
| funds funds general designated |
|||
| 2025 | 2025 | 2025 | |
| £ | £ | £ | |
| Fund balances at 31 December 2025 are represented by: | |||
| Current assets | 3,376,202 | 900,000 | 4,276,202 |
| 3,376,202 900,000 Unrestricted Unrestricted funds funds general designated 2024 2024 £ £ |
|||
| 3,376,202 | 900,000 | 4,276,202 | |
| Total | |||
| funds funds general designated |
|||
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| Fund balances at 31 December 2024 are represented by: | |||
| Current assets | 3,428,204 | 1,800,000 | 5,228,204 |
| 3,428,204 | 1,800,000 | 5,228,204 |
16 Related party transactions
Postcode Lottery Limited is considered to be a related party.
During 2025 £13,586,127 (2024: £13,217,979) was retained by Postcode Lottery Limited as their external lottery management fee.
A Services Agreement also exists between Postcode Care Trust and Postcode Lottery Limited, whereby staff costs and running expenses of the Trusts are paid by Postcode Lottery Limited. All staff are employed by Postcode Lottery Limited, and the total of these costs are recharged on a monthly basis. In the year to 31 December 2025 £67,990 (2024: £63,113) was due to Postcode Lottery Limited, with £40,206 (2024: £5,693) being outstanding at the year end.
| 17 Cash absorbed by operations |
2025 | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Deficit for the year | (952,002) | (1,368,551) | |
| Adjustments for: | |||
| Bank interest | (271,450) | (412,370) | |
| Movements in working capital: | |||
| Decrease in debtors | 2,902,741 | 1,369,128 | |
| Decrease in creditors | (2,871,012) | (1,370,167) | |
| Cash absorbed by operations | (1,191,723) | (1,781,960) |
- 22 -