REGISTERED CHARITY NUMBER: SCO51372 R ortof th¢ T for the YeaT Ended 30 Se er 2024 for The Pel¢x AcBd AH&CoLtd Chanord A¢Gouniants 6 Logie Mill Edinbutgh Loihi¥m EH7 4HG Tb¢ etex Academ Contents of foTtbe Yet¢Ettded 30 Se tem 24 Pa8e Referenct alld Administrative D¢iails Report of the TTUStees Jnd¢pcnd￿tEXam]Der's Report Srwement of Financia] Aclivili Balallce Sheet Notes to the Finattcigj Staternents 7 to 12 D¢lail¢d Staten)Ent OfFi[u￿¢1al Activities 13 "Ih¢ Petcx Acadetn" fr>T the Year 30 S- I¥Tnber 2024 TRUSTEES C.R]EF EXECUTV*l OFFICER PRLYCJPAL ADDIiLSS ? Logie iKiill Beav¢.1￿￿￿ Llusujess Park- Ldtiibut% EH7 4HG REGMERED CffL4RITY hlS¥lllER SCli41372 INDLI IJLNDk'N'f AH&CoLtd C.hfillercd Accountant.% 6 LDgi¢ Kr]11 Eaiaburgh Loi&iD Hwover Street F.a1￿b￿r￿h H2 IEL Page I The Petex Atade Re 4)rt of rhe Tnj e2rEnded 30 Se for ber 2024 The tru*ees pr¢5￿1 th¢ir report with the financid st&tements of the ¢harity for the year ended 30 September 2024 The trustees have 8dopteé the provisions of Accounting znd R￿ort￿S by ChaTiti¢s.' Statement of Recon￿ettded Prgctice applic&ble to Chariti￿ prepa[￿g thetr acco￿lS in 3Gcordance with the Repotting Sianoatd appli¢abl¢ ￿ the UK aThd R¢public of Irelaad (FRS 1021 leffecllve I January 20191. OBJEcfivES AI¥D ACTITrTTIES ObjectivES and #¢tivtti Th¢ lliam objecliye of the ch8rity i3 the adv2nce]xHit of edueation, with a focus on science, technology, Bii8U]eetiJiE and Th￿theMatiC5 ISTEMI. The chaTity c1￿￿p1eted its fitst full a¢ademi¢year of teacbing between September 2023 and June 2024. ACH￿Tr￿MEN7' AND PERFORhL4NCE Cb2rit*ble atiivities The aims to provide education tD school Ghddicn ￿ tca¢h¢ts on s¢i¢nc¢, t¢ctrAnolo￿, en￿nee￿llg and mthmatics ISTENQ relEted subjects with aview to pTtpate generatiorts of c￿ldr¢￿ to find susLginRble solutions to challenges such as incre&l￿g en¢igy dthimd •)d associated environmentaI ]￿lles These pw)osts will be achi¢ved by.. &) teaChll￿ ¢hildteJLSTEM related subjects bl P￿￿]d￿ng a¢¢e&9 to ¢lassroooJs within office space the following equipment.. il wmpul¢t8 ill 3D 5c8Yn￿g 7Énd ptir]ting iiil Eompiiler conttollcd la3¢tS iv) p[OgraTt]rnll￿ and l￿￿Ul1￿8 tools for d¢3igD and coll8boT&tion" vl eleLifonics 8nd Yoboti¢s staiion. The fvll teaching PTO£TaH]me eompteted its first academic y¢ar from S¢pt¢mb¢r 2023 thtough to lune 2024. Local sthools eng8BEd immedsately with all wotkthop8 beitsg ￿]lY booked. Worksh￿5 w¢r¢ also PTovided dunng the Easter and holidays. 4.500 cjiildren Gttended tILe wotkthpswith positvde engggement frorn all. F]NANCiAL REv￿w FiryAiici&l positio The Stateinent of Finati¢iai Activities on p8ge 5 shows that the chatity ]Eteived total itt (he year of £300,000 12023.. nill. Tbt clwity incU￿¢d chatitable exp¢ndiiur¢ of £209,561 121J23. £78,571). There WÈS & surplus i]L the ye& of £90,439 {2023.. defi¢ii of £78.8711. Th¢ told IBseTYes held 3s at 30 SeptrmbEI 2W24 were £303,548l20￿.. £213,109) alLrelatingto the unrestricted fun Reserves poll¢y The charry identifjed the l¢v¢l ofr¢serve5 that aTe TewiTcd fortbe I￿gOIng op¢iation of the Cbatyty. The level h[￿ beets established i li%ht of the main ]isks to the chaTity is 6xposcd It Is Ch￿ty'S polxcy to endeavour to retain sllfficient reserves to cover 3 ￿OnthS txpenditure wFllch ts calculated to be ￿2,390. The level of unresiri¢t¢d r¢5¢5v£s ￿ £303,548 and therefoie. the reqllited level of reserves been achieve Fu]Eds in d¢lS¢it al 30 Stpt¢mber 2024 therewere no fi￿d5 defi¢it12023.' nth*}. FtrruRE PLANS The PBtEx Ac&dcrny is ¢lostly affilial¢d with PE Lunited, the sole donoi. PE Ltstiiied is reloLaiing ro England and the rnswes have made e de¢isii)tt ts) rel0￿1¢ to th¢ same site PE Limited. as this cornp¥ny etnploys a JLwnber of seientists who 8re able io volunteer in the charity. A new lab has b¢en idenlifjed and wlll eT￿blE a laTgei nuTnbeT of ¢hildFeD 10 attend wtsrbhops at tbe sarrte tirne It will now be possiTrle to teach up ts) 32 childtEn at any givcn li￿¢. Tr teac￿nE progyarnme is fvlly deveIoped, and children can st2Tt attend￿g workshops from Septsmber2025 with the continu¢d of Tething as maDy chddten ￿ possible. FuDditig for the eharity will contillUE to be made by onE donoT Dn an a[￿Ual basis, with a ¢orn5￿￿¢￿t lo do so fot a number of years to ¢ome, tbis finjancially securing tbe thatity. A donation of £150.000 was r¢G¢i¥￿ in Nov¢tDb¢i 2024 to support costs for the coming 12 moDths. GoillE fo[￿d[d. rese8nh will be c4rried out to GO￿lder additional sites lo expand the ch￿1￿5 opeTatiODs, both in the tJK a￿0 Overse￿ with the ¢uffent focvs oll pack28ing En educatiot￿l wogram to ease the expa]5iDll of ThrLAB22. P48¢ 2 'I'fftLe Petrx Academ R th (kf th-'I'￿￿tte9 STftIICTiTrE, GOVERNANCE.￿ND MANAGEMEYT GoverThing (Iv¢unirnl The rkmtv is coJmLted by governtig documenl. & deed olirust, aod ConstItt￿& a S¢ottish f.b&￿able In4wi>TYt￿j nrgdni%siii)Tl 18C.ICIl, ]ttcoryoThred on l ￿1￿￿ ￿81¢ wherherp¥nicu1aT￿￿TerS hake wrAe to m5. attetttio B88is of the imd¢ptndcnt CSalliilltr'5 rcport exAti)iwion Th7s carried oiii in accordiThce Rcgulation I l of th¢, Ctr48nlie% A.LL4)iJnl¥ ISLiiilmdl Rttgthaliiiii% 2CKJ6 An e￿atri￿on includcs a rcyicw ot IF:£ aEcount]n# r¢¢ord5 kcpt b} the ch8r3ttT ￿ ii cornpari50ll Ot the a¢couttts prese￿jed with thosa ie&irds. It also itt¢lu(ies co￿Ld￿l￿on of 2n} uuiisu21 iteJn% vr disLIosiiFV% lh¢ acxÉiui'.%, ￿ld %r¢ki.')¥ ¢xiilan&:iOlls .yiir¥i VL114 os Irustees mints any such m*J¢m. Th¢ prn¢cdurc5 UT)dcrtakn TIIY ¢X￿Tn￿]a(1O]i. liv malttri ¢iinJ¢ b) rny tyil¢lllioJJ {Ll giveimc Tca%on8ble to belif.v¢ lh￿. ill Imy r&¢PEC( tlit rEquirements io ke￿ accouniitjg Tewtds ill aLL￿rd￿￿ with kl'liiiii 44lllla) of the 21W< Alt VJLd R¢¥uluuvn 4 of 20￿ Aciouiiis to prepate itt.oiints whieh 8CQOTJvriththe 3ccoiuJltng re￿￿[d5 CLimply R=gulgiil￿I 8 Iifihe 20(￿ Ac¢autilS Re8uI¥LIOJ l￿'B trtbeenmei. OT ,.Ykncj Jn opinw atfrDtJon shoiild be. ift OTdert() tnAble aproper tsDdeTStsnd￿E of the accollnts to be leached. Cbanered.4¢co￿tants of Scodtnd AH&CoL cl￿tel¢d 6 Logie hlkl Edmbur Lo¥hi3 .17 4EILy Pag¢ 4 The P#texAeadem Stat¢mex)t of FIDanciBI Activities T the YegtEllded 30 Se tettther2024 30.9 24 UDretstri¢ted ftTods 30 9.23 Toial fuoas Not¢5 INCOME AND £INDOWMENTS FROM Donatiotjs and l¢ga¢Ie8 EXPEL¥DITURE ON ChArttable a¢tivi¢ie$ Provision of Eéucation of STEM Subj¢cts 209 561 NET INCOMEIILYPENDITtUlE 90,439 178.87ll RECONCtLIATtON OF FtiNDS Total funds broughtfonvgrd 213,109 291,980 TOTAL FUNDS CARRIED FORWARD 303 548 213 109 Thc notf5 fotrn part of tbs5e f￿anCiaL st&teffjents Pa8e 5 The Peiex Acaderov Bdance SheEt Lcnibcr 2024 fiJnd% lld. Notcs FIXID ASSETS Intan￿b]e ¥56 Tsngible gssets 2,70 127,871 5,940 151,48 230.572 157.424 CUSUiENT ASSETS Slocks 35.803 4.24_ 40 20,08) io Cash 8t ballk 81),J28 74.271 C.REDITORS lunounts talltntT dLeTr¥nhthone year (7,3521 118,586! IKTT CitRiiENT A55ETS 72,976 TOTAL ASSVIS I.F,S.g CITRRF.M I.VABEI.ITIES If).3.548 213.T09 NET ASSETS Jt).3.548 2L3.-:09 FUNDS 12 Urffjestrieted fi]nds 301.f48 213.109 I￿1.￿L VUNDS 303 548 213 109 Tbt fillan¢ial sratemeots wcre 8pprnYcd bv tht Dotrd otTinlees &uthonscd tor llgut on.......... oji ils heknlf by". witt signed The purt i)f ilies¥ rj5i￿1E￿I stat¥iIJeiitb' Pa¥e 6 The Pe*x Academ to the F￿ancial Statenr for the YeaT Ended 30 S# i#mber2024 ACCOUNTING POLICIES Basis preparing the fiDallrial 5tatEU]elkts Tht fJnanGiai sthternents of the Ch￿lty, whicb is a public b¢n¢fit eDtIty undei FRS 102, have been prepared ill aceord2nce wth the Charities SORP IFRS 102) 'Ac¢ovntLng and Reporting by ChaTities". Statell*nt of Re¢omme)ded PTractice applicable t h&ities preparing their &ccounts in aC￿[danCe with thc F1npnGl￿ R¢portth8 St¥mdard 2pplieable in the UK and Republic of Irelaod ITRS 1021 leffective l jallu￿ 2D19}', Fin8n¢ial R¢portillg SI￿1￿ard 102'The FitMllcia] Reporting Standard applicable iti th¢ LK Republic of Ireland, and the Cb8titièS and Trn￿et Invcsllllettt {ScotI￿} Act 2(NJ5. The fin&nciDI statements have bten prepareduTrderthe historical tost conveniiott Incowe All TecogAis¢d oLct th¢ Ch￿1￿ entitlemellt to the ￿￿0]￿￿, it is ptobable that the inwrne wll k r¢c¢ived gJLd the all￿ullt of￿¢0￿¢ rN¢ivable b¢ measuredreliably. Donatil)nS are ￿ttsB￿￿ed when thty are r¢ctiv¢d or as soon a5 tb¢re is 8 legBI or consttuctive obligation 10 ]Ettive the donation as are5uIt of past events, tnd the aLJollni w be received con b¢ m¢asur¢d r¢liably. Monies ￿(c1Ved by way of ch8tit8ble activities aTe re￿guiSed tstt 8n acern￿$ bssis credit¢d to th¢ r¢strct¢d or w)Testricted funds as appropnat¢. Expelldilur¢ T.iahililies are TecogThiscd ￿ cxp¢ndiwre as 50m ￿ there is a legBI or Lx>nstturtive obligatiort wmmiiiing lh¢ ch￿lty to that expendituie. it isprtsbabl¢ that a trthsfer of economic knefits be TequiTed in settjtment and the ttyount of the obligatinll Can be tneL%uFed Teliably. Expenditure is a¢¢oullt¢O for on an aC£￿al$ b￿lS 12t]d has been dassified Lmder heading5 that aggregate all cost related 10 tht category. IWTrere C￿St5 catwol be attsibulcd to pathcular head￿Ss they have been alloc&ted to activities on abssis consistent withthe use of resout¢¢S. lThtangible A55tts Int&Dgible ￿ets aTe initially rnea5￿red at cost. AfteT lljilial reeoEnition, intangiblc ass¢ts rneasured ar Cost 1¢8£ ffjy 8Ecumulatcd amortssatiott 8nd Eny BCCUTtwlat&l llnpainent losses. CoJllputersoftwaTe ￿ being attiortised evenly overits t5tim&trdu$efi]I life oftwo yeats Taugible ffixed assets TaDEible fixed &ss¢ts ar¢ swed at cosL net of depreciation any piovtsion for itnpaimitht. Depreciation i$ provided on &ll tathBible fixed &£seLs, • rate5 calcu]&lEd to WEitE off the ¢osi. less eslllnated residual v3iu4 of each asset on a stta]ght-line b￿lS ovor its expected ll4efu] lif4 as follo￿.. ImproVe[￿ents to property Fixtuies & fittin88 Computerequipmeot IOYD on cost 20¥0 on cosl 500/0 On tost Residual vJJue represents thE Estillthted amount whith would currently be Obta￿ed from disposal of an assct, aftrr ded￿¢t￿8 ¢stuD*ed costs of disptssai, If the asset were th￿Y of the age and ￿ the conditionexpecied ai the of its useful life. Assets not mtasured * faLr V￿ll¢ are ieviewed for any indi¢ation that the 8sset may be impaired Bt eaGh balancB sheet date. If such indicarion exists, the r¢coveFable arnount of the asseL or the asset's Cash gen¢rating unit, ￿ est￿ated snd C4)mp￿Ed to the cwrying gmounl tbe GarryiDg ￿nDU￿1 ¢x¢eedg its r¢¢ov¢rable Bmount, ￿ impaillllent loss i¥ retogllised inprofit or loss unless the asset ig t*Eied it a revalued ￿3]0￿)1 where th¢ impaLrm¢nl1055 is 8 Teva1uatioThdecre￿e. Stoclts Stocb are vajued gtthe lowet of cost alldnet realisable vaiuc. after m9king th allowallrK forobsolele and 51owTllOv￿S Ite￿5. Taxatlon Th¢ ¢h8t2ty is exempt fromt&K onits ¢h8ritable activities. Fund aceoulltlng Income re￿I¥¢d 15 3]located ID iestricted oi u]]testri¢*d 85 8ppropriate. Restrici￿1 fimth fimds which are to beused foraporti¢ulat pU￿oSe 8s spec1f￿d by the donor. Page 7 continued.. e Petex AcadEtIi N les to thc FiDan¢iai Statrments- eontinued forth¢ Y¢aT Ended 3 be[ 2024 Accol￿TING POLICIES- tolltiLlltd U]JTestrict¢d fimds &r¢ those fuDds with wthi¢h (be trus￿e￿ are fr¢ to use for any putposes in FUrth￿￿Ce of the ¢h&itable objea1v￿. Fithartclxl Instrumellls The charity only has financi81 a55¢ts finRnciaJ babilities Df a kttid that qualxfy ￿ basic fin8ncis1 ￿trL￿￿rt￿. Basi¢ fin2nciai itisirumenty are ￿l￿allY recognised al trans￿tion vatuc and Subseq￿entlY tneasured attheit settlell￿t value. Provisions PFOViSiQD5 are TecoBt]iSBd the tharity h8s a present Obl￿￿tiOn Il£gal OT ￿nSt[U(tiVeI as & result of a past event, it is probable that the ¢hatity will be required to settle tbit obligatiots aLd a reliable ¢stimat¢ can be made gf the zmounl of the obligation. The gmount TecKJgwsed as a provision is tb¢ best esixmate of the consideration requiRd to settle the present obligation ai thc b213nce sheet date. takng into acrount th¢ ri&ks uncertBinties Surrout￿￿gtbe oblig&ion. EXeMpt￿tt froth prep#riDg * ca5b state￿e￿I Exemption has been 18ken frotnprepaTing a cash flow st&t¢menl onthe gtounds thatthe charity wa]ifie5 a8 asm811 ¢h2rity. DONATIONS AIYD LEGACIES 30.9.24 30.9.23 Donatil￿ 300 000 CIIARITABLE ACTIWITIES COSTS Sllpptsrt costs (see ote 41 Direct Costs Totsis Pmvi$ioL of Education otSTEM Subjects 204 905 4.656 209 561 SUPPORTcosrs GoveTnan¢e costs Finance Toials PFOViSiOtt ofEducation of STEM Subjects Support Lx>sts, ￿ClUded in the abov4 are ￿ folltsws-. 30.9.24 30.9.23 ProvislOIi Education Totsi activilies Subjects Bank charges Accountallcy 96 4.080 Pgge 8 ¢ontiDued... ThePtiex Acad¢m ie to the Financial Statements- continucd forthe Year End#d 30 Se i¢mb¢r 2024 TRUSTEESI REMUNERATION AND BEEIEFITS There were no trllstees, rornunctatiO￿ or other benefits for the year ert￿￿ 30 Sept¢mkr 2024 nor IOT the year ellded 30 SepTrmber 2023. Trustee5' expens TheR wcrc no ttust¢¢s' expense5 paid fortbe year ended 30 Septemiw 2024 nor foT thB ended 30 September 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted LXPENDITiniE ON Charit#blt attyvities ProviSLonof Educationof S1EM Subjec LYET INCOMFJ{EXYENDITUREI 178,871) RECONCILIATION OF Ft Totsl fi]nds brought forward 291.980 TOTAL FUNDS CARRIED FORWARD 213 109 INTANGIBLE FLtED ASSETS Compuier COST Ai l OctobeT 2023 alld 30 Seprember 2024 6,480 AMORTISATION At l Octobcr 2023 Charge fory¢a 540 At 30 S¢ptembei 2024 3,780 BOOK VAL[ At30 September2024 1700 At JO September2023 ¢Onlitiued... The Petex N te to theFinallc foi the e8rEnded30 Se - coDtinued le]nbrT 2024 TANGIBLE Tr]XED ASSETS Improvements Fixtu[ Cotnputer ¢quipniBnt property fittitt88 I'ot315 COST At l O¢tober 20 Additions 2,346 166.108 118,093 11.643 180.fr97 At 30 Septemb¢F 2024 284,201 298 190 DEPRECIATION At l October 2023 Charge foryear 78 235 25,034 3.501 28,613 At 30 Stptember2024 313 60.682 70,318 NET BOOK VAL￿& At 30 Sepietnb¢r 2024 2.033 223.519 2.320 227,872 At 30 Sepi#nber 2023 141074 151484 STOCKS 30.9.24 30.9.23 Stocks 35.803 DEBTORS: AMOUNTS FALLll¥G WITHIN ONE TrTAR 30.9.24 30.9.23 Pr¢pay]nents CREDrroRS: Amoioyfs FALLING IIqTHIN ONE ITAR 30.9.24 30.9.23 Trade creditots Otber credito A¢otued expet]s 270 2,522 14.576 12. MOVEMENTIYL FUM>S Nel movern¢rtt fithos At 1.10.23 At 30.9.24 Unrestricted fund5 General fiu 213,109 90,439 303.548 TOTAL FUNDS 213.109 303,548 Pgge 10 contillued.. The Petex Acad Notes to the Fittanci81 taternents- continued for the egrEnded 30 Se tetnber 2024 12. MOVEMKNT FUNDS- tDtttlllu￿1 N¢t movement ￿ f￿ls. induded in above a% follows.. IncollJ]])8 r¢sourc¢s Rewurces expended Movement in Utsrèstricted funds GenerBI fi]na 300.0 1209.561) 90.439 TOTAL FUNDS 209 561 90,439 Comparatives for ￿￿￿¢￿e1)t in funds Net ovetnent in fll￿d5 At At 30.9. UDrestrieted fuJJds Genetal fund 291,980 178.8711 213,109 TOTAL FUIWS 291980 7S.871 Comp8Niv¢ net movement in fi￿6$, itt¢luded iti tbe &bove are as follows.. Incoining re50UtttS Resources ¢xpended Movemellt fuThd3 Ullresirfrted funds Gen￿al fund 178,8711 (78,871) TOTAL FUNDS 788711 A wrr¢nt ye8[ 12 months attd prioryear 12 montbs combinedposiuoll 15 85 fvllows". N¢t tnovemellt funds Ai 1.10.22 At 30.9.24 Unrestri£ted Ge￿￿al fithd 291.980 11.568 303.54S TOTAL FUM>S 291.980 303 548 PBge 11 tinued... 'he Pttex Acade I to the ￿'[Da￿¢[aL Sla¢em￿lI9- eonrmutd ror th: Y£*i Elide 12. MOVLMLY'I IN FUTr4DS. oojjtlttued A ¢utyentytar l? moJ)ths 2]￿ piiorveaT 12 TnotLths Co￿b]ned ntl InovenwLt in fjjnds, It￿￿dea tn dLe above sre Hs follows.. I￿￿)￿1n8 resources Resourtts Xp￿dcd MovemeDt its fLJnds Unrtstri£ted fERd5 3[￿,000 (288,4321 11,568 TOTAL FUNDS 288 4J?I 13. Rf,LATED PARTI, DIseLOSIIRBS Page 12 The Petex Academ DetBiied Ststernent of Financial Aciivift forthe YearEtided 3 ternber 2024 30.9.24 30.9.23 INCOMEAND ENDOWMENrs DonatiOM5 l¢g*tles Donations 300,000 Tot*l re5011rce5 300,000 EXPENDITURE Charitable 4ctiviti¢S R8tes gttd ww¢r IDsur3nce Light and heat TelephO￿e Postage and siationery AdvcrtlSlD8 Prop¢rtV Tepairs TrO￿l￿g Ottice costs Property ¢osts EdÉicational mai¢rial Compiiter costs FAte￿i￿￿ent SubscriptioDs TtaYellifft8 Donations Wggog Pe￿ionS AmOrt￿&t10￿0f int￿ible fIxed &ssets Depreciation of twible rjxed 8s*ts 16,044 2,324 15,152 3,600 8,541 2,180 4,290 384 343 19.409 69.253 1.799 6,196 421 7.721 1.798 4.506 11,077 1,565 551 308 9,057 460 921 2,250 137 535 2.692 1,200 10.288 ,926 3,240 540 27383 204,905 74,79L Support £05ts FI￿alEc¢ Baok chaxg¢5 96 Goverllancc costs Ac£ounttncy T0121 resourc¢s expended 209.561 Net IDeomellexp¢nditurel Thxg pag¢ does not fvnn p8rt ofthe sta￿tOry f￿an[la1 statBllients P8ge 13