Contents of the Financial Statements

for the Period Ended 31 March 2025

Profit And Loss Account

for the Period Ended 31 March 2025

Balance sheet

As at 31 March 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover arises from the company’s principal activities of providing support, assistance and training and consists of amounts invoiced net of VAT. All turnover arises in the U.K

  Tangible fixed assets depreciation policy

  Tangible fixed assets are measured at cost less accumulated depreciation to date and any accumulated impairment losses. Depreciation is calculated to write down the cost less residual value of all tangible fixed assets over their expected useful lives, using the straight line method. The rates applicable are: Computer equipment 3 years Furniture and fittings 5 years

  Intangible fixed assets amortisation policy

  Intangible assets are measured at cost less accumulated amortisation to date and any accumulated impairment losses. Amortisation is calculated to write down the cost less residual value of all intangible assets over their expected useful lives, using the straight line method. The rate applicable is: Software 3 year

  Other accounting policies

  i. Income and expenditure All items of income and expenditure are accounted for on an accruals basis. Where contracts are awarded in favour of the company for fixed terms, contract income and the direct costs associated with the contract are accrued evenly over the duration of the contract. Income The specific bases for accounting for income are described below. Donations are included in full in the statement of financial activities when received. For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made; or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Charity has been notified to the executor’s intention to make a distribution. Trusts and foundation grants are recognised when entitlement to the grant is confirmed. Paid for services income is recognised when the services are delivered. Investment income is included in the Statement of Financial Activities in the year in which it is receivable. ii. Tangible assets Tangible fixed assets are measured at cost less accumulated depreciation to date and any accumulated impairment losses. Depreciation is calculated to write down the cost less residual value of all tangible fixed assets over their expected useful lives, using the straight line method. The rates applicable are: Computer equipment 3 years Furniture and fittings 5 years Our Head office leasehold is depreciated over the period of the lease (155 years) on a straight line basis. Refurbishment costs associated with the property are depreciated over 50 years on a straight line basis. iii. Intangible assets Intangible assets are measured at cost less accumulated amortisation to date and any accumulated impairment losses. Amortisation is calculated to write down the cost less residual value of all intangible assets over their expected useful lives, using the straight line method. The rate applicable is: Software 3 years iv. Impairment of assets At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. v. Investments Listed investments are included in the financial statements at bid value at the balance sheet date. Gains/losses on disposal of investments and revaluation of investments are recognised in the year of gain or loss and are allocated to the funds to which the investments relate. Investments in subsidiaries are included in the financial statements at cost. vi. Debtors Short term debtors are measured at transaction price, less any impairment. vii. Creditors Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. viii. Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the company. All other leases are classified as operating leases. Rentals payable under operating leases are charged on a straight line basis over the lease term, unless the rental payments are structured to increase in line with general inflation, in which case the company recognises annual rent expense equal to amounts owed to the lessor. ix. Taxation The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied for its charitable purposes. x. Turnover Turnover arises from the company’s principal activities of providing support, assistance and training and consists of amounts invoiced net of VAT. All turnover arises in the U.K. xi. Expenditure allocation Expenditure has been allocated to restricted and unrestricted funds by direct attribution where possible, or by the proportion of service usage reported and attributed to each fund. xii. Employee benefits Short term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred. In line with FRS 102 accrued holiday has been included as an expense in the period in which the entitlement arose xiii. Pensions During the year the Charity has two pension schemes: a defined contribution scheme for current employees and a closed defined benefit scheme. The latter is a multi-employer scheme, and the Trustees agreed to exit the scheme on 31 March 2025. We await the final Section 75 statement to confirm cost of exit. xiv. Funds General funds are those that are available for use at the Trustees’ discretion in the furtherance of the Charity’s objectives. Designated funds are unrestricted funds set aside for unrestricted purposes and which would otherwise form part of general funds. Details of the nature and purpose of each fund are set out in note 16c. Restricted funds are funds that are subject to restrictions imposed by donors and are applied in accordance with these restrictions. Details of the nature and purpose of each restricted fund are set out in note 16b. The Charity has one Endowment fund, the Cutler Trust. Income derives from the investment of the fund and is used to promote the education of persons in need under 25 years of age, whose parents are or were teachers in the London area. xv. Support Costs Support costs cover those funds which assist the running of the charity and mainly comprise of staff costs and overheads. These costs have been allocated between costs of raising funds and charitable expenditure. xvi.Cash and cash Equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three month or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	31	30