The Trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
To advance the education of the public in general (and particularly amongst teachers and educationalists) on the subject of ‘online’ education and to promote research for the public benefit in all aspects of that subject and to publish the useful results.
Nisai Education Trust was recognised as a charity in July 2021 after a number of years as a small non-profit company.
The charity’s work is about:
• promoting awareness of on-line and blended options to delivering education – knocking away barriers that can unfairly prejudice young people who find it difficult or impossible to access traditional schooling.
• working together with parents/carers, governmental and non-governmental organisations to put together delivery and funding models for vulnerable learners, and to raise awareness of the issues those children and young people face. |
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Nisai Education Trust Achievements in 2025
Raising awareness of the issues facing children and young people who are educated online or through a blended approach to delivery.
Through 2025 the Trustees determined to begin the work of answering the question, '‘What does learning differently look like in a changed world?’
This question came from the findings from the previous year’s work and in particular the outcome of the successful House of Lords event which engaged practitioners and researchers from across the sector in responding to the ‘Nisai Education Trust manifesto for Change.’
This provided an impetus to take a longer-term view around the Trust and to focus on building up a position in the sector as a trusted voice based in research:
To become a trusted source of research backed information, guidance and models on learning differently and alternative provision.
Collate data and models from across the sector via the website, research activity, research and network events.
Four key strands of activity have been underway through the year.
The Knowledge Transfer Project in partnership with Staffordshire University has progressed well and hit its milestones. The KTP Associate, Dr Fearn, has produced and shared with professionals through webinars and events such as nasenLIVE! the outcomes from initial data analysis which is challenging thinking in the sector. The project has:
interrogated extant cross-business data sets against learner outcome to identify trends/patterns in performance over years 2019 – 2025 (pre, through and post pandemic).
Identified the strengths and vulnerabilities of the date-sets and made proposals as to how datasets could be better integrated and the requirement for new data to be collected and analysed and so better quantify, improve and target online learning for both UK and SE Asia
delivered a qualitative research methodology to collect complementary data on pupil and cohort perception/performance in online and blended learning. A qualitative framework has been trailed, evaluated and then put in place. It is the first time that there has been detailed research into the personal experience of the learners, parents/carers and commissioners that produces data contributing to understanding the long-term needs of learners and adaptations in service that will be needed.
2. Supporting and working in partnership with the Alternative Provision Research Network APRN with the aim of developing practitioner led action research projects in alternative provision settings which will inform work across the sector.
3. Advising and supporting the implementation of Sidestep – an Emotionally-Based School Non-Attendance project in Chorley, South Ribble and West Lancashire. Sidestep is a specialist Tier 2 Alternative Provision (AP) designed to deliver a "Level 3 Graduated Response" for young people experiencing Emotionally Based School Non-Attendance (EBSNA). The project’s mission is to re-engage students who are either severely absent from school or have been reluctantly withdrawn into elective home education, helping them return to sustainable educational pathways. Significant family support is also provided as part of the Sidestep package. Sidestep is applying to be a charity (a CIO) so that we can seek funding to enable us to provide places for students who are not currently on the roll of schools. Working with Sidestep allows NET to engage with innovative use of blended learning and to establish a data set for EBSNA young people.
4. Develop the relationship between nasen and Nisai Education Trust to increase the reach of the Trust to specialist educators and researchers nationally. Along with articles and blogposts delivered through the nasen website focused on best practice in blended/online support for children with special educational needs. Hybrid Round Table events looking at present issues and future practice, particularly the outcomes from the Education White Paper. In the year the first of these activities took place:
'Alternative Learning Provision in a digital world: meeting the additional needs of pupils in a rapidly changing educational and social context' (November 2025)
Innovation and Virtual Headteachers: Creating Better Outcomes, Value and Partnerships (January 2026)
The trustees are satisfied with the charity's financial performance throughout the year and the financial position at the year end.
The trustees are secure in Nisai Education Trust as a going concern after the fifth year of operation as a charity.
The charity receives its funding from two sources:
• from Nisai Group in the form of Corporate Social Responsibility funds ;
• from external grant funders where the charity is commissioned to undertake specific pieces of work around its charitable purpose.
In the financial year to 31st December 2025.,the trustees have planned for further growth of the charity in the year 2025.
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The charity aims to hold as unrestricted reserve sufficient funds to provide for one year of core operation should there be no further income.
This is to ensure that all action research activity can be collated and reports published for public benefit ahead of any winding up process.
The Trustees determined that this figure should be at £50,000 as with previous years.
The Trustees have determined that the principal risks to the charity concern finance and performance:
CSR funding from Nisai Group is not forthcoming due to issues around trading;
Failure to perform on the UKRI Knowledge Transfer Partnership leading to a withdrawal of funding.
The charity currently has control measures in place to mitigate against such risks crystallising.
Nisai Education Trust will focus on the coming year on building its position as trusted source of research backed information, guidance and models on learning differently and alternative provision. Key to this will be the development of already strong relationships within the sector, but in particular those with the Alternative Provision Research Network (APRN) and with those innovative providers who are conducting action research at the cutting edge of the sector as the UK government develops its response to the challenges within the education sector.
Crucially, Nisai Education Trust will be moving through the most impactful phase of the Knowledge Transfer Partnership with Staffordshire University and towards the end of the project. The main focus of the Trust will therefore be on the collation and dissemination of research findings and supporting further innovation and impact within the sector.
After a number of years where international work for the charity has been on a relative ‘back-burner’ we have had some approaches with regard to action research projects which fulfil our criteria and the Trust will be actively looking to once again develop links which will support out understanding of how online/blended learning is being effectively utilised in other contexts.
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
Nisai Education Trust governing document are articles of association for a charitable company. |
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The Board acts as a Management Committee and meets at least three times in each year. It is responsible for the strategic direction and policies of the company.
At present the Board of Trustees has seven members from different professional backgrounds relevant to the work of the Trust.
In the event of particular skills being lost due to retirements individuals with relevant skills and experience are approached to offer themselves for election to the Board of Directors. The Directors are provided with the relevant information relating to their responsibilities. |
The Trustees are both directors and Charity trustees. They have control of the Charity and its property and funds.
The Board of Trustees consists of at least five and not more than eleven individuals. Directors are either:
• Appointed Directors from the Patel family, founders of Nisai Group Ltd, (a maximum of 2 Directors)
• Co-opted Directors (between 3 and 10 Directors)
The Chair of the Board is confirmed by Trustees at an Annual General Meeting and is an ‘Appointed Trustee’.
A memorandum of understanding exists between Nisai Group Limited and Nisai Education Trust Limited which sets out the formal and supportive relationship to meet the charitable aims of Nisai Education Trust Limited. The agreement is reviewed and renewed each year and delineates:
• arrangements to ensure external accountability and compliance with statutory and regulatory requirements ; and
• the relationship between the two organisations.
The Trustees have had regard to the guidance issued by the Charity Commission on public benefit and has an agree policy in place with regard to it.
The Trustees' report was approved by the Board of Trustees.
The Trustees, who are also the directors of Nisai Education Trust Limited 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; 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.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nisai Education Trust Limited for the year ended 31 December 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's Trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nisai Education Trust Limited and state those matters that we have agreed to state to the charity's Trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nisai Education Trust Limited and the charity's Trustees as a body, for our work or for this report.
It is your duty to ensure that Nisai Education Trust Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Nisai Education Trust Limited. You consider that Nisai Education Trust Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Nisai Education Trust Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Nisai Education Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Floor 4, 28 Clarendon Road, Watford, WD17 1JJ.
The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
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.
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 are allocated on the portion of the asset’s use.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Direct Charitable Expenditure
Direct Charitable Expenditure
Trustee remuneration amounted to £16,643 (2024: £19,291)
The average monthly number of employees (including Trustees) during the year was:
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 to its charitable objects.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2024 - none).