REGISTERED COMPANY NUMBER: 05386480 (England and Wales)

REGISTERED CHARITY NUMBER: 1112758

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

INSTITUTE OF MONEY ADVISERS

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

11

Report of the Independent Auditors

12

to

15

Statement of Financial Activities

16

Balance Sheet

17

to

18

Cash Flow Statement

19

Notes to the Cash Flow Statement

20

Notes to the Financial Statements

22

to

31

TRUSTEES

Mr D J Burdis

Mr L J Goldberg

Mr S M Goodman

Mrs C Marks

Mr A Shafiq

Mrs A R Walters

Ms S Williams (resigned 24.6.25)

Mrs J C A Clack (resigned 25.9.25)

COMPANY SECRETARY

Mrs C Marks

REGISTERED OFFICE

Equinox House

Clifton Park

Shipton Road

York

North Yorkshire

YO30 5PA

PRINCIPAL ADDRESS

PO Box 526

Leeds

West Yorkshire

LS17 1NS

REGISTERED COMPANY NUMBER

05386480 (England and Wales)

REGISTERED CHARITY NUMBER

1112758

AUDITORS

Fortus Audit LLP

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

BANKERS

Co-operative Bank Plc

PO Box 250

Delf House

Southway

Skelmersdale

WN8 6WT

Unity Trust Bank

Four Brindleyplace

Birmingham

B1 2JB

The trustees present their annual report and accounts for the period ended 31 December 2025.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Articles of Association, the Companies Act 2006 and '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 charity is a public benefit entity as defined by FRS102.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the charity is the relief and prevention of financial hardship in particular but not exclusively by:

-

the promotion of high standard in the provision of free-to-client money advice;

-

the provision of education and training for money advisers;

-

the advancement of the education of the public in the subject of money matters, debt and

the management of personal finances.

Significant activities

In pursuit of the above aims, over the past year, the Institute of Money Advisers (IMA) has undertaken the following activities:

- Managed the IMA Accreditation Scheme for money advisers, including further development of:

-

the Certificate of Credit in Money Advice Practice (CertMAP);

-

the IMA's Continuing Professional Development scheme; and

-

the IMA's Professional Code of Conduct.

- In a new partnership with Bristol Law School at the University of the West of England, delivered the CertMAP qualification to two student cohorts.

- Supported the training and education of advisers by delivering an up-to-date IMA Training Programme, relevant and responsive to adviser need and delivered online, in accordance with the preference of IMA members.

- Held an in-person Annual Conference and, later in the year, to ensure the events were accessible to as

many members as possible, delivered a virtual Annual Conference, each with workshops and content

designed to contribute to advisers continuing professional development.

- Delivered six CPD-accredited webinars free of-charge to IMA members as a membership benefit.

- Provided a commercial case-file audit service to support the development and assurance of quality in

the sector.

- Increased our policy and influencing profile, campaigning on issues affecting IMA members and responding to external consultations and calls for evidence.

- Published four issues of Quarterly Account, the Institute's news journal.

- Published weekly e-bulletins to keep advisers informed about sector developments and opportunities.

- Updated the IMA website providing information and resources to support advisers' work.

Public benefit

The IMA has provided training, information resources and education to money advisers to develop high standards in free-to-client advice to relieve and prevent financial hardship to the public. The organisation has also successfully engaged in policy and related influencing activity.

The Board has reviewed the guidance issued by the Charity Commission regarding public benefit and is satisfied the charity complies with the duty in section 4 of the 2011 Charities Act.

STRATEGIC REPORT

Achievements and performance

Charitable activities

- Maintained an average of 1726 individual members during 2025.

- Retained our status as a Competent Authority for the Insolvency Service in England, Wales and Northern Ireland for approving Intermediaries to deliver Debt Relief Orders.

- Approved 23 new Approved Intermediaries, maintaining an average of 216 intermediaries to deliver Debt Relief Orders in England, Wales and Northern Ireland.

- Following feedback from IMA members, introduced two new training courses: Breathing Space & Possession Action, and Hire Purchase & Insolvency

- Offered 2000 open programme training course places on a total of 40 different training topics.

- Delivered an additional 68 'in-house' training courses to 1403 advisers, meeting the requesting organisation's training requirements.

- Enrolled 165 advisers onto CertMAP, the professional qualification in debt advice. By the end of 2025, a total of 2333 advisers had obtained CertMAP since 2010, when the qualification was introduced.

- Held an in-person Annual Conference, incorporating the sixteenth Money Advice Awards Ceremony.

- Delivered the IMA's fifth virtual Annual Conference, enabling those unable to attend the in-person event to benefit from a range of stimulating workshops and panel discussion sessions.

- Assessed accredited members' compliance with the IMA's Continuing Professional Development scheme and Professional Code of Conduct.

- Provided a commercial case-file audit service to support the development and assurance of quality in the sector.

- Continued to be actively involved in a range of forums affecting the sector including the FCA Consumer Network, HM Treasury's Fairness Group, the Taking Control Partnership, and the Insolvency Service's Competent Authorities Group. We also attended advice sector roundtables and bilateral meetings with Ofgem, to discuss issues raised by IMA members concerning the treatment of debt advice clients by energy firms.

- Evaluated a non-technical mentoring scheme that we had piloted in 2024-25. The scheme was confirmed as a new membership benefit, with a soft rollout to help manage demand and delivery capacity.

- Released six 'Debt Reckoning' podcast episodes for IMA members and the wider sector, hosted by the IMA's Policy Officer and Money Advice Specialist. Our 2025 in-person conference opened with a Debt Reckoning discussion panel that we recorded and shared shortly after with podcast subscribers.

- Implemented a single membership log-in solution, improving navigation between the IMA website and individual members' accounts.

- Commenced further longitudinal research into the workloads and wellbeing of IMA members.

Financial review

Financial position

The financial statements are set out on pages 14 to 17. The trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Financial Activities shows a total income of £692,684 (2024 £637,657) and total costs of

£622,474 (2024 £622,140) resulting in a surplus of £70,210 (2024 £15,517 surplus) which includes restricted funds of £nil.

Reviewing our financial risks for 2026, Trustees expect a reduction in the uncertainty experienced in the last few years with a stable outlook for the next 12- 24 months. Looking further ahead, however, IMA Trustees are aware of upcoming changes to funding of services from 2028 onwards which may impact demand for our services and alter our risk profile. IMA Trustees consider it is appropriate to adopt a prudent approach to the management of the charity's reserves in view of potential long term financial risks.

Balancing the needs of beneficiaries today and beneficiaries in the future, Trustees therefore consider it

appropriate to hold free reserves equivalent to at least nine months' operating costs which currently equates to £470,630. This would provide time for alternate funding sources to be sought and the development of strategies allowing the IMA to continue to meet its charitable objects.

Trustees remain committed to developing services to meet the IMAs charitable objectives and will use any undesignated reserves to that end.

Trustees have also agreed to put aside specific reserves of £957 for a Fixed Asset Fund; £47,853 to provide exceptional circumstances financial support to students on future cohorts of CertMAP; an IT equipment reserve of £2,190; £25,000 to upgrade the IMA website; £90,710 to commission annual independent research on issues affecting IMA members up to 2027; £8,311 to support IMA regional branches; £7,000 to support increased marketing activity to the wider sector; £2,634 for Trustee learning and development; £2,000 to provide subsidised places to members attending IMA annual conferences; £1,500 to cover the costs of delivering free-of-charge webinars to members; and £5,000 to fund activities associated with the 20th anniversary of the IMA.

In addition, Trustees also consider it prudent to hold a Contingency Fund of £122,935, to cover costs in the event of winding up the IMA business.

The unrestricted reserves at 31 December 2025 stood at £1,113,274 (2024: £1,043,064) of which designated funds are £316,091 (2024: £287,312) and general unrestricted funds are £797,183 (2024: £755,752).

To summarise, Unrestricted Reserves going forward should have a minimum value of £786,721, including any Designated Reserves, with Contingency Fund, totalling £316,091.

This Reserves Policy will be reviewed on an annual basis to ensure continuing appropriateness in light of the requirements of the IMA at that time. Trustees remain committed to developing services to meet the needs of IMA members and will utilise any undesignated reserves to that end.

Availability and adequacy of assets of each of the funds

The Board of trustees is satisfied that the IMA's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Principal funding sources

How our expenditure in the year has supported our objectives.

Education

Integral to meeting our charitable purpose is the provision of education and training for money advisers. To this end, in 2025 the Institute provided:

-

the Certificate of Credit in Money Advice Practice (CertMAP) qualification, in partnership with

the University of the West of England;

-

the IMA Specialist Training Programme;

-

free webinars to IMA members.

Qualification

Awarding CertMAP to 77 IMA members in 2025 ensured they met the quality standard required in the profession and became recognised as Accredited Money Advisers. A further 84 students on the Autumn/Winter cohort were expected to sit the CertMAP examination in early 2026.

Training

We delivered a total of 148 training courses via our open programme and in-house throughout the year.

Learning events at the IMA's in-person and virtual Annual Conference events

A range of CPD-accredited workshop topics were offered during our one-day in-person and two-day online conferences, including:

-

DRO update

-

Who's liable: council tax liability

-

Cause of action

-

Understanding lived experience

-

Case strategies

-

Benefits update

-

GDPR and debt advice

-

Guarantor rights in CCA regulated agreements

Free member webinars

We delivered the following free live CPD webinars to IMA members, which were also recorded and made available to IMA members to view after the event:

-

Prison and debt

-

An introduction to judicial review in the High Court

-

Managed migration for money advisers

-

Consumer credit and mortgages

-

Benefit overpayments and insolvency

-

Salary advance schemes

Relief and prevention of financial hardship

Providing the education, training and support services to IMA members outlined in this report helps to improve and maintain the quality of advice provided by money advisers; in turn, the work of money advisers supporting those with unmanageable debt and maximising their incomes, helps to relieve financial hardship and advance public education in the subject of money matters, debt, and the management of personal finances.

Our policy work, including evidence obtained from IMA members, enabled us to respond to issues which threaten, cause or compound financial hardship.

As a Debt Relief Order Competent Authority, the IMA was directly involved in the relief of financial hardship during 2025, with our staff assessing and authorising only applicants with the requisite skills and competence to act as Approved Intermediaries. IMA Approved Intermediaries were then able to submit Debt Relief Order applications on behalf of insolvent people, eventually leading to the discharge of their debt.

Influence Policy and Practice

We obtained evidence from IMA members to inform our policy and influencing work, from membership surveys, all-member meetings, smaller focus groups and individual feedback.

We produced written responses to the following consultations and calls for evidence:

-

Ofgem's proposals to improve supplier practices when dealing with customers with energy debt

-

HMT's reform of the Consumer Credit Act 1974

-

MHCLG's reform of council tax

-

Enforcement Conduct Board's proposed standards on client vulnerability and ability to pay

-

HMT's proposal to change the remit of the Financial Ombudsman Service

We also collaborated with other organisations to respond to external consultations, in particular relating to

enforcement agents as part of the Taking Control coalition.

Principal risks and uncertainties

Trustees regularly review the risks to which the Institute is exposed. Whilst the short-term outlook is relatively stable, changes to the debt advice funding environment from 2028 are likely to impact on the IMA and its members. To mitigate these risks, we intend to engage with debt advice providers prior to commissioning of services, develop new funding, sponsorship and training relationships and to develop our business offer with new and improved services.

The IMA risk register is reviewed and updated at each Trustee Board meeting, ensuring effective risk management and mitigation.

Future plans

In 2026, the IMA Trustee Board plans to build on the success of the previous twelve months, ensuring that high quality training, education and support services are available to advisers who make a difference to over-indebted people and those who are struggling to budget.

Key strategic objectives in 2026

- Support quality in the provision of money advice by maintaining IMA Accreditation, involving further development of the IMA's CertMAP qualification, Continuing Professional Development scheme and Professional Code of Conduct.

- Work in partnership with The University of The West of England, Bristol, to co-deliver the CertMAP qualification.

- Support the training and education of advisers by delivering an up-to-date online training programme, relevant and responsive to adviser need and sector developments.

- Seek sponsorship and funding to support the provision of subsidised training and events.

- Hold an in-person Annual Conference, including the seventeenth Money Advice Awards Ceremony.

- Hold our sixth virtual Annual Conference with unique workshops and content.

- Deliver six free CPD-accredited webinars to IMA members.

- Provide a commercial case-file audit service to support the development and assurance of quality in the sector.

- Continue to develop our policy and influencing role, campaigning on issues affecting IMA members and responding to external consultations and calls for evidence.

- Publish the IMA's monthly podcast, Debt Reckoning and increase its followers and subscribers.

- Commission independent research into equity, diversity and inclusion in the debt advice sector.

- Upgrade the IMA website.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company limited by guarantee (Registered company no 05386480) and is governed by its Articles of Association. It was incorporated on 9 March 2005 and registered as a charity on 18 January 2006 (Registered Charity no 1112758).

The members of the Board of Trustees of the Charity during the period ended 31st December 2025 were:

-

D Burdis

-

J Clack

-

L Goldberg - co-opted

-

S Goodman

-

C Marks

-

A Shafiq

-

A Walters - co-opted

-

S Williams

Recruitment and appointment of new trustees

None of the trustees has any beneficial interest in the company. All trustees are members of the company and guarantee to contribute £1 in the event of the charity winding up.

Appointment of trustees is governed by the charity's Articles of Association. The Chair and up to four Ordinary Members are elected to the Board by ballot at the IMA's General Meeting and take office for three years, following which, they may be re-elected.

The trustees have the power to co-opt up to four further members. One further Director is elected by the Council of the Institute as its representative on the Board of Trustees.

All Members are circulated with invitations to nominate trustees prior to the Annual General Meeting (AGM) advising them of the retiring trustees and requesting nominations for the AGM. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed.

Organisational structure

All strategic decisions affecting the IMA are made by the Board. The Board can decide to delegate powers to make decisions in specific areas to relevant sub-committees, these will be described in individual sub-committee Terms of Reference, the IMA Membership Rules and the Articles of Association.

Decision making

The day to day running of organisation is delegated to the Chief Executive, Robert Wilson, who allocates

responsibilities to relevant IMA managers and the wider team.

Related parties

In the delivery of some of our strategic aims, the IMA will partner with other organisations:

We will partner with the University of The West of England, Bristol, to deliver CertMAP, the debt advice

qualification.

The IMA will continue to work with a wide range of stakeholders involved in the delivery of money advice to promote quality and share good practice.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees, who are also the directors of Institute of Money Advisers for the purpose 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 year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources,including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departuresdisclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the

Charity will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company's auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company's auditors are aware of that information.

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.

AUDITORS

At the 2025 Annual General Meeting, IMA members voted to appoint Azets as the company's auditor. The auditor subsequently retired and, following a rigorous procurement process, and in accordance with Article 33(h) of the company's Articles, the Board of Trustees filled the casual auditor vacancy, appointing Fortus Audit LLP.

In accordance with the company's articles, a resolution proposing that Fortus Audit LLP be reappointed as auditor of the company will be put at a General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 6 May 2026 and signed on the board's behalf by:

Mr A Shafiq - Trustee

Opinion

We have audited the financial statements of Institute of Money Advisers (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	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, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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 when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion 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 such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees 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 trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the charitable company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they consider there was a susceptibility to fraud. We considered the procedures and controls that the charitable company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jacqueline Godden FCCA (Senior Statutory Auditor)

for and on behalf of Fortus Audit LLP

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

18 May 2026

2025

2024

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

21,840

-

21,840

74,105

Charitable activities

4

Charitable activities

632,342

-

632,342

534,674

Investment income

3

38,502

-

38,502

28,878

Total

692,684

-

692,684

637,657

EXPENDITURE ON

Charitable activities

5

Charitable activities

622,474

-

622,474

622,140

NET INCOME

70,210

-

70,210

15,517

RECONCILIATION OF FUNDS

Total funds brought forward

1,043,064

-

1,043,064

1,027,547

TOTAL FUNDS CARRIED FORWARD

1,113,274

-

1,113,274

1,043,064

2025

2024

Notes

£

£

FIXED ASSETS

Tangible assets

13

957

863

CURRENT ASSETS

Debtors

14

42,988

57,728

Cash at bank

1,124,952

1,035,599

1,167,940

1,093,327

CREDITORS

Amounts falling due within one year

15

(55,623

)

(51,126

)

NET CURRENT ASSETS

1,112,317

1,042,201

TOTAL ASSETS LESS CURRENT LIABILITIES

1,113,274

1,043,064

NET ASSETS

1,113,274

1,043,064

FUNDS

17

Unrestricted funds:

General fund

797,183

755,752

Contingency fund

122,935

111,543

CertMAP Financial Support

47,853

48,493

IT equipment replacement

2,190

3,000

Fixed asset fund

957

863

Website development

25,000

10,000

Marketing fund

7,000

8,000

Independent research

90,710

90,710

Trustee training and development

2,634

2,728

Branch support fund

8,312

8,475

Conference

2,000

2,000

Member webinars

1,500

1,500

2026 20th Anniversary Celebrations

5,000

-

1,113,274

1,043,064

TOTAL FUNDS

1,113,274

1,043,064

The financial statements were approved by the Board of Trustees and authorised for issue on 18 May 2026 and were signed on its behalf by:

Mr A Shafiq - Trustee

Mr L J Goldberg - Trustee

Cash flows from operating activities

Cash generated from operations

1

90,163

45,616

Net cash provided by operating activities

90,163

45,616

Cash flows from investing activities

Purchase of tangible fixed assets

(810

)

(471

)

Net cash used in investing activities

(810

)

(471

)

Change in cash and cash equivalents in the reporting period

89,353

45,145

Cash and cash equivalents at the beginning of the reporting period

1,035,599

975,390

Cash and cash equivalents at the end of the reporting period

1,124,952

1,035,599

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

70,210

15,517

Adjustments for:

Depreciation charges

716

5,608

Decrease in debtors

14,740

52,232

Increase/(decrease) in creditors

4,497

(27,741

)

Net cash provided by operations

90,163

45,616

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

1,035,599

89,353

1,124,952

1,035,599

89,353

1,124,952

Total

1,035,599

89,353

1,124,952

**	LAST YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS

AS CALCULATED IN CASH FLOW STATEMENT

DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET

COMPARE MOVEMENT ON CASH FLOW STATEMENT

45,145

TO

MOVEMENT PER BALANCE SHEET

CASH AND CASH EQUIVALENTS

60,209

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is know, and the receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

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33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.