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Registered number: 07736467 Charity number: 1150648 LET'S THINK FORUM (A Company Limited by Guarantee) UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
LET'S THINK FORUM (A Company Limited by Guarantee) CONTENTS
| Page
Reference and Administrative Details of the Company, its Trustees and Advisers | 1
Trustees' Report | 2 - 7
Trustees' Responsibilities Statement | 8
Statement of Financial Activities | 9
Balance Sheet | 10 - 11
Notes to the Financial Statements | 12 - 20
LET'S THINK FORUM (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025
Trustees | M Walsh, Trustee
| Prof J Hodgen, Trustee
| S Seleznyov, Trustee
| Dr M Oliver, Trustee
| Dr M Lecky, Trustee
| Prof M Askew, Trustee
Company registered number | 07736467
Charity registered number | 1150648
Registered office | Old Station Road Loughton Essex IG10 4PL
Company secretary | S Raine
Accountants | Haslers Chartered Accountants Old Station Road Loughton Essex IG10 4PL
Bankers | National Westminster Bank PLC 298 Seven Sisters Road London N4 2BW
Page 1
LET'S THINK FORUM (A Company Limited by Guarantee) TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2025 The Trustees present their annual report together with the financial statements of the Company for the year 1 February 2024 to 31 January 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. OBJECTIVES AND ACTIVITIES Significant activities The Council continued to meet termly to administer the charity and have reintroduced physical meetings. The Trustees continue to meet separately after Council to apply segregation of duties and focus on the strategic direction of the charity. Council membership has been expanded to include complementary skills sets and experience. A strategic 1, 3 and 5 year plan has been devised and the Council are working to implement actions. Public benefit In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. Page 2
LET'S THINK FORUM (A Company Limited by Guarantee) Let’s Think Forum English annual subject report to Trustees February 2024 to January 2025 The LTE Guidebook A publishing agreement was reached with Crown House Ltd, a small publishing house with a big reach in educational and social science based professional publications. The company has a strong presence and reputation alongside publishers like John Catt for accessible and up to date publications. The draft manuscript will be submitted January 2026 for publication late spring/early summer. LTE – Potential Trust Conference March 2024 Two-day overnight retreat style conference fully funded by The Potential Trust. Tangible outcomes reported back to PT for their evaluation purposes: ∙Forming special interest groups formed for early KS1 induction to CA, GCSE lessons based on set texts, Inclusion practices in CA lessons. ∙Crystallising our USP as understood by practising schools ∙Connecting schools in the north of the country who wish to collaborate ∙Hearing cases studies of practice e.g. Primary Foundation subject bridging, CA for SEND intervention groups. ∙Drafting chapters for The LTE Guidebook shared and critiqued at a critical point of development before seeking a publisher Just as tangible if not concrete was the level of passion and belief in LTE felt in the group. There was honest acknowledgement that maintaining the time, space and PD to sustain LTE can be challenging but is essential for these professionals. Partnership Schools Let’s Think tutors supported The Nebula Federation to become a Partnership School Training new schools LTE tutors have experienced increased interest in new school/cluster/trust initial training with the impact of The Oracy Commission, changes trailed in the Francis Curriculum and Assessment review. LTE tutors has led training in 6 new schools and a school cluster – all in Hampshire LTE tutors has led training in 6 new schools spread across the UK and continued to support LTE primary cluster training at the Let’s Think Partnership School Richmond Hill Primary and VLT. Page 3
LET'S THINK FORUM (A Company Limited by Guarantee) Regular activities Lesson development – continued activity supported by trials in Strategy group and Partnership Schools. Particular though not sole focus on early KS1 lessons, non-fiction, GCSE poetry anthologies. Continues to be a rich site for reviewing theory, principles and connecting these with current curriculum development and pupil needs. Several lessons have emerged from schools themselves sharing drafts with tutors. LTE Leading – since inception this is the first year since 2019 that tutors did not receive sufficient interest for a viable course. LTE Introduction - online course for teachers new to LTE in existing schools run for the fifth year. Slightly fewer schools than in previous years but attendance and buy-in from participants very buoyant. LTE Conference – LTE team hosted a second annual conference at Ambler Primary school with over 70 attendees. Presentations MW – Eastleigh Consortium of Secondary Subject Leaders, PGCE English students at King’s College London and Ark Curriculum Plus Conference. LC – What is LTE? Online seminar for The English Association supported by Council member Tom Leigh Future The team is excited at the prospect of a LTE publication – and mindful that publication is no guarantee of sales or increased programme interest. The English and wider teams will need to be mobilised and engaged in a marketing strategy in 2026-and beyond. The Francis Review points to the potential for pedagogies that are oracy based and promise ‘high and rising standards for all.’ As above, we will need to mobilise this agenda in relation to CA. MW and LC have supported the application of three Partnership Schools since 2020. They have proved invaluable partners in reviewing and developing policy in action, trialling lessons, offering taster sessions and LTE school cluster training. LC and MW believe that 1.existing schools should receive further investment for the growth of the programme and training of new tutors 2.further Partnership Schools should be supported/sought in geographically strategic areas Details of this can be found in LCs Partnership School business plan application to the finance committee, April ’25. Page 4
LET'S THINK FORUM (A Company Limited by Guarantee) Let’s Think Forum Primary Geography annual subject report to Trustees February 2024 to January 2025 The original project ended in January 2024 having used a sum of £1,924, returning £5,585 of the original budget for other Let’s Think activity. The outcomes of the project are given in the 23-24 report however since that time the following activities have taken place. The materials and approach in this subject were shared at a Council meeting and the views of members taken. There is confidence that the approach and materials are Let’s Think. The materials have been shared with some partnership schools and they have been invited to give feedback on the materials. The 6 lessons developed will be gathered in a ‘book’ and digital resource with descriptions of the pedagogy of Let’s Think, the subject knowledge, Piagetian reasoning patterns and the outcomes of the project. A proposal was made to Council, and accepted, to incorporate the materials into a wider approach, ‘A Foundation for Thinking in the Primary Years’ based on a number of lessons from the Foundation Subjects and using the same methodology as the Geography Project. A paper has been written by Let’s Think tutors and will be submitted on an aspect of the project: Title: How did a project to develop reasoning in primary geography become empowering knowledge for teachers and children through the use of the Sustainable Development Goals? A proposal has been made to Council to read this paper at the "5èmes Conférences Jean Piaget" in June 2025. Two more papers are proposed: Title: The transition of a teacher (in Let's Think) from lesson user to lesson creator, the barriers and opportunities this affords teachers and the extent to which it can be facilitated by experienced Let's Think tutors - The power of a theory of change for project developers who are usually working in different settings but come together for a unique project, contrasted with the ways teachers in the project make sense of the project and the processes of development. Let’s Think Forum Mathematics annual subject report to Trustee s February 2024 to January 2025 Two training courses were held. ∙a six day introduction to Let's Think Maths course for Milford Haven Junior School, involving 5 teachers at the school ∙a six day introduction course for sixteen primary and secondary teachers for central South Consortium Wales. Page 5
LET'S THINK FORUM (A Company Limited by Guarantee) Let’s Think Forum Science (LTS) / Cognitive Acceleration Through Science Education (CASE) annual subject report to Trustees February 2024 to January 2025 Report for activity between February 2024 until end of January 2025 Conference activity During this reporting period, the science team has been developing their understanding of the current teacher appetite for CASE through conference presentations and workshops. Let’s Think tutors presented the following sessions at the annual Association for Science Education 2025 annual conference in Nottingham (Jan 9-11, 2025): Enabling learners to think about their thinking in science How to develop exploratory talk How to get to know how your students think In total we had about 200 teachers, science educators, science leads and academics engaged across all three sessions. Let’s Think tutors have been accepted to present a whole day pre-conference workshop: How do we get to know how our students think and how we can help this development? At the Milan International Teachers Association in March 2025. Sharing CASE with science teachers has reminded the science team that the lessons have not lost their power. There remains a coherence and simplicity in the design and theoretical foundations. The particular appeal of CASE work is a pedagogical framework and choice of content that promotes students to think, critically, during science. Next step: Science team to consider editing a book that curates a collection of chapters from different authors (CASE and beyond) writing about how they promote thinking in science for a teacher audience. International collaborations During this reporting period the science team have had online and face to face meetings with colleagues, (now based in the UK) in Spain based at Jaen University. This has enabled us to draw upon our expertise in cognitive acceleration to support and collaborate with the science education research group and their doctoral students in researching aspects of CASE pedagogy. Alejandro Munoz also presented his doctoral research at the ASE conference in Nottingham in January where we were able to hear his work and meet him and the Spanish team : Enhancing science education by the ways of thinking and working in science Page 6
LET'S THINK FORUM (A Company Limited by Guarantee) Clarification of how teachers can access science Let's Think resources. There is an on-line publication of historic CASE materials. This includes links on Let's Think to GL assessment for Let's Think Through Science (Y3 and Y4), a password protected folder of secondary CASE, the exploratory flame in ACTs and through Alex's work on Press Books. Pressbooks project hostedarchives, in a modern web based format the original CASE and CAME lessons and support material. The project was seen as a way to honour those that followed and added ideas and helped socially construct a truly world-class intervention in Science and Mathematics Education. Next step: re-evaluate how easy pressbooks is as a platform for hosting these resources. Let's Think Forum Partnership Schools annual subject report to Trustees February 2024 to January 2025 There are now five partnerships with schools and institutions: Four Marks, Nebula Trust (5 schools), Richmond Hill Primary School, Vanguard Learning Trust LT (5 schools) , (plus one) providing geographical hubs of expertise and training centres. Richmond Hill in Doncaster offered a Let's Think in English training programme again. This training programme consisted of over 12 colleagues from different nearby schools. The training consists of a combination of tutor expertise provided by Let's Think Forum and in-school expertise provided by Richmond Hill. The partnership between Vanguard Learning Trust, a cross-phase multi-academy trust in the London Borough of Hillingdon, has continued with a focus on primary education and the development of Let's Think champions. Let's Think tutors have continued to support teachers with onsite visits as well as coaching and professional development sessions. Approved by order of the members of the board of Trustees and signed on their behalf by:
M Walsh Trustee |
Date: 28 August 2025 |
Page 7
LET'S THINK FORUM (A Company Limited by Guarantee) STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2025 The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: ∙select suitable accounting policies and then apply them consistently; ∙observe the methods and principles of the Charities SORP (FRS 102); ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are 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. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on its behalf by:
M Walsh Trustee |
Date: 28 August 2025 |
Page 8
LET'S THINK FORUM (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2025
|  | Restricted funds 2025 | Unrestricted funds 2025 | Total funds 2025 | Total funds 2024
| Note | £ | £ | £ | £
Income from: |  |  |  |  |
Donations and legacies | 3 | - | - | - | 500
Charitable activities: | 4 |  |  |  |
.Other charitable activities |  | - | 8,394 | 8,394 | 17,634
Investments | 5 | - | 604 | 604 | 588
Total income |  | - | 8,998 | 8,998 | 18,722
Expenditure on: |  |  |  |  |
Charitable activities | 6 | - | 19,088 | 19,088 | 21,442
Total expenditure |  | - | 19,088 | 19,088 | 21,442
Net movement in funds |  | - | (10,090) | (10,090) | (2,720)
Reconciliation of funds: |  |  |  |  |
Total funds brought forward |  | 14,229 | 49,766 | 63,995 | 66,715
Net movement in funds |  | - | (10,090) | (10,090) | (2,720)
Total funds carried forward |  | 14,229 | 39,676 | 53,905 | 63,995
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 20 form part of these financial statements.
Page 9
LET'S THINK FORUM (A Company Limited by Guarantee) REGISTERED NUMBER: 07736467 BALANCE SHEET AS AT 31 JANUARY 2025
|  |  | 2025 |  | 2024
| Note |  | £ |  | £
Current assets |  |  |  |  |
Cash at bank and in hand |  | 56,070 |  | 66,075 |
|  | 56,070 |  | 66,075 |
Creditors: amounts falling due within one year | 9 | (2,165) |  | (2,080) |
Net current assets |  |  | 53,905 |  | 63,995
Total assets less current liabilities |  |  | 53,905 |  | 63,995
Total net assets |  |  | 53,905 |  | 63,995
Charity funds |  |  |  |  |
Restricted funds | 10 |  | 14,229 |  | 14,229
Unrestricted funds | 10 |  | 39,676 |  | 49,766
Total funds |  |  | 53,905 |  | 63,995
Page 10
LET'S THINK FORUM (A Company Limited by Guarantee) REGISTERED NUMBER: 07736467 BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2025 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 28 August 2025 and signed on their behalf by:
M Walsh Trustee |
The notes on pages 12 to 20 form part of these financial statements.
Page 11
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. | General information
Let's Think Forum is a registered charity, limited by shares, domiciled in England and Wales, registration number 1150648. The registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Let's Think Forum meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
| 2.2 | Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
| 2.3 | Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
| 2.4 | Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
| 2.5 | Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 12
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 2.Accounting policies (continued)
| 2.6 | Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
| 2.7 | Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
| 2.8 | Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 13
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
| 3. | Income from donations and legacies
|  |  | Unrestricted funds 2025 | Total funds 2025 | Total funds 2024
|  |  | £ | £ | £
| Donations | - | - | 500
| 4. | Income from charitable activities
|  |  | Unrestricted funds 2025 | Total funds 2025 | Total funds 2024
|  |  | £ | £ | £
| Income from charitable activities | 8,394 | 8,394 | 17,634
| 5. | Investment income
|  |  | Unrestricted funds 2025 | Total funds 2025 | Total funds 2024
|  |  | £ | £ | £
| Investment income | 604 | 604 | 588
| 6. | Analysis of expenditure on charitable activities
|  | Summary by fund type
|  |  | Restricted funds 2025 | Unrestricted funds 2025 | Total 2025 | Total 2024
|  |  | £ | £ | £ | £
| General fund | - | 19,088 | 19,088 | 21,442
| Total 2024 | 3,301 | 18,141 | 21,442 |
Page 14
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
| 7. | Analysis of expenditure by activities
|  |  | Activities undertaken directly 2025 | Support costs 2025 | Total funds 2025 | Total funds 2024
|  |  | £ | £ | £ | £
| General fund | 6,500 | 12,588 | 19,088 | 21,442
| Total 2024 | 3,301 | 18,141 | 21,442 |
Page 15
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 7.Analysis of expenditure by activities (continued)
| Analysis of direct costs
|  | Total funds 2025 | Total funds 2024
|  | £ | £
| Expert tutor | 6,500 | 3,301
| Analysis of support costs
|  | Total funds 2025 | Total funds 2024
|  | £ | £
| Bank charges | 17 | 25
| Insurance | 266 | 263
| Conference fees | 2,280 | -
| Computer and website support | 1,745 | 2,310
| Travel and subsistence | 389 | 1,405
| Professional fees | - | 4,263
| Admin support | 5,113 | 6,860
| Accountancy and legal fees | 2,778 | 3,014
| Loss on disposal of fixed assets | - | 1
|  | 12,588 | 18,141
8. | Trustees' remuneration and expenses
| During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
| During the year ended 31 January 2025, no Trustee expenses have been incurred (2024 - £NIL).
9. | Creditors: Amounts falling due within one year
|  | 2025 | 2024
|  | £ | £
| Accruals and deferred income | 2,165 | 2,080
Page 16
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
| 10. | Statement of funds
|  | Statement of funds - current year
|  |  | Balance at 1 February 2024 £ | Income £ | Expenditure £ | Balance at 31 January 2025 £
|  | Unrestricted funds |  |  |  |
| General Funds - all funds | 42,732 | 8,998 | (19,088) | 32,642
| Business Plan Projects | 7,034 | - | - | 7,034
|  | 49,766 | 8,998 | (19,088) | 39,676
| Restricted funds |  |  |  |
| ACTS Fund | 14,164 | - | - | 14,164
| GLA Fund | 65 | - | - | 65
|  | 14,229 | - | - | 14,229
| Total of funds | 63,995 | 8,998 | (19,088) | 53,905
| The specific for which the funds are to be applied are as follows: Other ACTS and GLA grants - Other government grants received for restricted educational purposes.
Page 17
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
| 10. | Statement of funds (continued)
|  | Statement of funds - prior year
|  |  | Balance at 1 February 2023 £ | Income £ | Expenditure £ | Balance at 31 January 2024 £
|  | Unrestricted funds |  |  |  |
| General Funds - all funds | 42,151 | 18,722 | (18,141) | 42,732
| Business Plan Projects | 7,034 | - | - | 7,034
|  | 49,185 | 18,722 | (18,141) | 49,766
| Restricted funds |  |  |  |
| EEF Fund | 17,465 | - | (3,301) | 14,164
| GLA Fund | 65 | - | - | 65
|  | 17,530 | - | (3,301) | 14,229
| Total of funds | 66,715 | 18,722 | (21,442) | 63,995
Page 18
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
| 11. | Summary of funds
|  | Summary of funds - current year
|  |  | Balance at 1 February 2024 £ | Income £ | Expenditure £ | Balance at 31 January 2025 £
| General funds | 49,766 | 8,998 | (19,088) | 39,676
| Restricted funds | 14,229 | - | - | 14,229
|  | 63,995 | 8,998 | (19,088) | 53,905
|  | Summary of funds - prior year
|  |  | Balance at 1 February 2023 £ | Income £ | Expenditure £ | Balance at 31 January 2024 £
| General funds | 49,185 | 18,722 | (18,141) | 49,766
| Restricted funds | 17,530 | - | (3,301) | 14,229
|  | 66,715 | 18,722 | (21,442) | 63,995
| 12. | Analysis of net assets between funds
|  | Analysis of net assets between funds - current period
|  |  | Restricted funds 2025 | Unrestricted funds 2025 | Total funds 2025
|  |  | £ | £ | £
| Current assets | 14,229 | 41,841 | 56,070
| Creditors due within one year | - | (2,165) | (2,165)
| Total | 14,229 | 39,676 | 53,905
Page 19
LET'S THINK FORUM (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 12.Analysis of net assets between funds (continued)
|  | Analysis of net assets between funds - prior period
|  |  | Restricted funds 2024 | Unrestricted funds 2024 | Total funds 2024
|  |  | £ | £ | £
| Current assets | 14,229 | 51,846 | 66,075
| Creditors due within one year | - | (2,080) | (2,080)
| Total | 14,229 | 49,766 | 63,995
13. | Related party transactions
| The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 January 2025 (2024: £Nil).
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