Comp*tty 02827835 (EDglaDd & Wakn) Charity 1040962 THK SWITCH CHARITY LIMITED Aeom , limited b arnntee TRUSTEES, REPORT AND FINANCIAL STATEmE1￿s For the Year Ended 31 Augusl 2024 THE swrrcH CHARITY LIMrrED CONfENrs Iwl And Administrative Inforn*t IDdep¢n4k•¢ Audltor's Report Stslemut of FID￿¢111 A¢ti¥ltle8 12 B*l*n¢¢ Skeet 13 stst¢me•t (IC#th lknl 14 Notes to the Fill*Dci*I St*teoemts Is THE swrrcH CHARITY LIMtTED Iwl aDd AdministTrlive InfornMtiOA For the Year Emdal 31 Au st 2024 TRuKfEESIDIRECTORS Mark Campbell (Chair) Geny McDonald New City College (fjr0￿ Principal & CEO) Sarah Barnes Mary UDiva3ity of Lon Saiam Ahmed UCL I￿￿111U1e of Clinical TriaL% & MethLKlology Mohammed H&sw (ap￿)Inted on I￿ ￿¢ernber 2023) EY Jemima Reiuy {reSi￿d 24. Ju0¢ 2024) Jade Hol￿10n (apwinted 18° May 2024) Ih Tina Sode Anits Bhardwaj Jayant Kumar R￿he1 ￿d$ (reSi￿*d ]* JallU￿ 2024) Big1a￿A Grecn Primary Sch￿1 London Borough of Tower Ha0￿cts Morgan st￿lleY Barclays SECRKTARY Helen sa￿%0￿ REGI￿ER￿D OFFICE Norvin I lo￿. 45-55 (:nmmer¢ial Sirt EI 6BD COMPANY NUMBER 02827835 104(M2 IISBC. 1.3 Bithop58ate LoNlon EC2N 3AQ Santander. 298 LkaDs8aK MwKhester M3 4HH Close Brotlw 10 Crm Place. iA>ndon EC2A 4FT SOLicrroRS R￿sse11.cOOke, 2 Putsw HilL Puw, Lotmkn SW15 6AB AUDrroRS Goldwins Limit&l 75 Mayw RO￿ West Hamp￿￿ London NW6 2EG Trnsteu? Report For the Year 31 Allgllst 21124 TRUSTEE REPORT ch8ritsbk rAxnpany for the year eNled 31 Augik812024. The ststuknry infoTO)ation is slM)wn on Page l. The Swilch Charity Ltd is a i¢wil￿ educa11￿ clJaTity situated in Ihe East End of London emtM)werAng children al￿ people to dixov¢r their Fxst fijtute. Through our mlmlern and highly effeLtive programmes, we facilitatr positive engagement irtween ta￿tion and employers. helping yOUDg pwle to fulfil their wtential by &8piring to life-changing ¢aff¢rs. All our progr￿eS benefit from direct involvement of volunteers froo) w employer Wiier& Their inputs give y¢Jung people first-hand exp¢ri¢nrK and knowledge of the world of work. worki￿ prin¢iFolly in Tower Han￿ets with primary. 8ecotNJary aThl sixth fom) schwls and ￿l￿g¢S we w)vide an enriching employability and careers educ*ion that enha￿$ swutrry Tequir¢m¢nts and sets young pwle off on positive Fthway sTrUCTu￿ COVERNANCL MANAGEhlENT & RISK This year we have seen stabillty atml &hievement for Tr Switch in ew awt of charity. li h been a solid year fina￿1ally. with Careful ciThtrol of costs matched by stroD8 fillMIrn￿n8 wforniarK The Switch Charity Ltd is a r¢gist¢red charity company limit¢d by guarante. We have referred to th¢ guidance contained in Ik Charity Commission's general 8uidaoc¢ on public IKtrfit when Teviewing our aims and objectives and in planning our ￿tiVities. The goveming thument is the Articles of A&wciation. The Articles of A&8(Kiation (Section 32) (kri￿ who STr￿1d be Trustres of The Switch. Trustees We [￿rUited witist the crituia laid out in Section 32. New TnL8tees are briefed by tlr Director and Chairmafft Two trnslees resi￿1 within the year 2023- 24 and two new trustees were appoiated. Tn￿ tske decisiorL8 afftttl￿ the strategy of'The Switch and ISS￿ affeciing ts stalulory TesporL8ibilities of the (wni￿o[L The DiTectrK tskes decisio￿$ affecting day to day rul￿1[￿ of ￿ organisatson supwr*d by a Depw Diredor. We c4)ntinually review our risk register and upjaie our oTg3nisation's risk tK)licy accordi￿. We ￿ NCVO'S ￿y¢r[la17ce wheLI for help implementing be# i￿tiCe in all aTW of gO￿TIm￿re. SniATEGY: Tr￿SleeS aye eonsuhcd on strategic directio￿8 and SI￿lf￿an1 matter& This year we h¢ld a tru*e away day to set the strat¢gy for the next three years. This is the first tim¢ si￿¢ the wid¢mi¢ that we knve lTh)kwJ at our longer term aims. As tArt ol wing govern￿ we Tegu]8Tly review o progre&8 on meeling our strategic objectives vi& Strategy review sessions with the whole staff in desi￿ leam ID￿111 (kn ann￿1 8iaff strategy day ￿]d every SUttllDeT priorities &8pects of tk work Regular communication i*t*ten ts Chair aThI tlK. tirectr T¢mily Finance Commit*¢ MeetiJ¥s THE S￿￿cH CHAIUTY LIMITED Trnsteoq. Report For the Year Ended 31 August 2024 Board stratw away day$ BACKGROUND INFORMATION: We continue to priiKilise i)w wixk in Tow& Halldets iknugh have oFned ￿ our service5 to pwther companies and their ffgional offi￿. This is or* of our kcy strategic aims for the ttxt few year5. Towcr Hamlets Tetnains of the most dewived ¢ou)munities An the coiuity and one of the rn05t deprived of all London's Borougbs. Nearly half (48%) of child￿￿ in Tower Hamlets are living in PM)verty compared to the London average of 32%. For jny ]*w work in sch(Ktyls ￿YOnd Tower Hamlet& we will ¢ontinu¢ 10 prioritise those schools with high levcts of ￿1&1 and c&onomi¢ ￿Verty. low attaintnent ￿ higher than avcrnge levels ofsEND or Free Sch￿1 Meal pupils. (kn work equips youn8 pe(yl¢ with the dire01S a￿1 20 in Towtt Hamlets. plus two schooL8 An Lart￿bIre and 6 ￿lMary schools in the neighiK)uring i￿)rOU￿ Ha¢￿ry. Through our Switrh programme4 our Alumni n¢twork a￿1 atte￿ ￿ externally Ma￿￿] eaTeers fair4 we have served over 15.IKX) unique Stud￿ts. AcIUIVEmE￿ & HtGHLIGHTS: We are proud to share the highlights of this year's pr0srn￿e, celelxating the differenrz we made in tmw)weringchildr¢n and young Feople to disc￿er their kst fukn. PRIm￿y SCHOOL HIGHLIGI Over 5(Kl pupils h*1 eiitr*r a writing or numkT pwrttrr from MO￿ than 50 different compani&s. 1260 pupils from 18 ￿1￿1$ twticiWd in ow f￿￿la1 lilerxy Supfftd by f￿H) volunteers from 48 ￿panI¢s. SKCOI¥DARY SCHOOL HIGHLIGITrs I I.(KM) students pgrti¢iP8t¢d in Swil¢h seC￿MIlry f*tivities sukwted by 1592 voluttrers from 104 parts*r comwie W¢ 1av￿hcd fllst 18-25 year old Mentoring progr￿¢ with Ba￿lay$ directed to our Alumni ¢ohort and (kliveTed a webinar Apwenti￿5b1ps Vs Ultiv￿lty to this 15CrfN tKrton community. Youth Voice (Yo)rth Adviwry ￿(￿rd) met 10 times this year with 10 le[ffe*￿v¢S from LBTH SC1K￿lS developi￿ their leadershtp skilL8 whilst ¢(xttr5￿Ij￿g kn str*gic and pm8ramme dev¢lopnents. Future Skills with Barclays by 95 Bgrclays volunteers helFtd IA) studuts from 6 schooL8 cboo% their Fothway5 iwond xh(x)l. virt￿ Work Exw1e￿e gave 538 ststhnts an intrthththon to the world of WLMks 6 diffe￿nt ￿10 Our in prrson Work EX￿rIence prowl￿ was S￿r￿￿ted by 215 ¢mployeTS who b)sknJ 1077 stud￿ from 8 sclKKtyly giving a vitsl ex￿rie￿¢ of 8 Workp[￿e. We also delivered a rdnge of rfflv 0￿-Off ￿tivitieS Telknting our ambition a￿1 desiff to d¢velop our prngTr￿ and giv¢ young people tM)wlyle range ofexw1en￿s. Some highlights include a new Susthinability evenl wtth EQ Investo￿ 4 tsading ski115 events in SCh￿]S with JP MoTEan TrnJingteam.aiointveniurewith Man Groupand JPMopaanshow¢&singweers in investment banking and asset [Da￿ement pl￿8 s￿CIalised Work E￿riC￿e for 5 Y12 students with NBC Universal. In ￿litt0r4 we delive￿] 5 CV Clinics giv1T￿ individu81 feedback to tnoTr than 8Crt) Studen￿ we wticipthl in 9 career fairs in Tow¢r Hamlets. h(K￿ed 4 work experiw placements 81 The Swikh for ShNJents with SEND aryl IK6*d 5 St￿nts from Bow Sch(x)I for their wirk exFTien(z wreL THE swrrcH CILIRITY LIMrrED Tru$teu* Report For the Year Ended 31 Allgllst 2024 STRATEGIC ACHIEVEhiENrs Four k¢y strategic a￿￿8 were identified for 2023-24 and we delivered many &hievetnents uoder wh strnnd. He￿ are some of the highlights: l. C•l¢ry*¢¢ P*rt#erships: We achieved our aim lo revise the wimary pricing to tetter reflect s¢hool SI￿ and deliver value for money. We Eegan new partheTships with schools in Orniskirk [A[￿lre and Liverythl wior6. We co-delivered a trip for our Writing PaTtners with Man Group and a fellow charity parttw. the Discover Children's Story Centre in Newham, lebratiThg the joys of ett4tivity. tcadis)g and story*iliJ)& 2. IDnov*te Progrommu: We won a silver medal at the Sc¢iai Mobility Awards with Sodexo for our innovative part￿lShIpa￿rOach to s￿%￿in￿l]Ity and financial lilewy. We delivered ournew pilot one day literacy and numeracy careers events to 7 primary seh(M)Is thank8 to fimding from the Aldgate & Allhallow5 Foundation. We were also delighted to pilot BF.E fu)ancial liteTa¢y with our first cohort of students with SEMH n¢ed8 at Bowden HO￿ scbool and to revise many of our prograrnmes to xcomm(th a raDge of St￿la1 ed￿atIO￿ Deeds thanks to a wt from the Hedley Foundation. F4uity Diversity & Inclusion slatmenl and an ED&] task fonz. We have revis￿ ourT¢cruitment practi￿ to attract a more diverse talent p￿1 and reLru(t more k￿] peopl¢. We participated in a local prO￿nMe to ￿11 mirNYity ethnic and will SLKJn welcome 3 new IrKal tr￿slee3 to incre&8e the diversity of our iK)pnJ. We •re also proud of diversifying the sectors of ¢mployers we work with incluthng Mediaal￿ d¢siw ￿Mm￿ll￿tion% wchitecture. consulting and medical. 4. Optiwiye Oper*lh)M: Internally much WLYk has ireD dLxK io improve our CRM and Tewrti develop online booking systems to t￿ suFwri¢r engagemen(8nd improve our ￿mmuniCation tAK>king ￿ the future the Board was keen kn set a loDw.leTm strat¢8y for the Chwity following the pandemic and the utKertainty il ￿￿ed. Now on t￿n f￿)11￿ we a￿eed a Dew forward.lookitig strate in May 2024 wbich will se¢ work towards the followi￿ broAd ain Alumni developmeot and exFMDsion Beyond the Borough OPFX)rttinities Reviewing and refr￿Ing our Prim￿ s¢lx*)l offer Dev¢lopment of our work expeti¢nc¢ progr&mme For this past fuwLcial year, we w¢r¢ working towards a break-ev¢n i￿g¢t p)sition or p)tentia]ly a small surplws. A strongperfornwKe in fimdrwingthroughoutthe year enabled ￿$10 revise ourotiwal fly￿ast and finish the year with a go￿ SU￿1￿$. The total Teserve5 of th¢ Cl•rity now equale lo over 12 mon expenditure. Thi%. level of te5erY¢ agrttd by the'fnjstees ￿ provide an essentidl buffer&8 the clwiiy needs to be able kn deliver its pft)8rn￿es fLY the length of an ￿miC year. Reserves are ￿ld in n￿l¢e from S¢hwls. Tr 21Y24r2025 Bty set at a Ixeak•eveD ￿￿Itio1L THE SWKTCH CHARITY LIMITED Trn$tee8' Rtport For the Year Ended 31 August 21)24 TrUSTEES ThLStees who served the year klow:. Mark Campb¢ll (Chair) Sarah B2n*s {resi￿￿d 18 Janwy 2024) Gerry McDonald (Vice Chair) Jemima Reilly (resign￿ 24th ju￿ XJ24) Dr Tina Sod¢ Anits Bhardwaj Jayant Kumar hel thdd5 J8de Hottton {appoinl¢d 18 May 2024) Mohammfyl Hassan (atv)inted I￿ Derxmber 2023) The trws*es del¢8atrd r¢sp)nsibiltty forthc d&y-tO-day maDabrment of Tr Switch Ch￿lty l.ilT)itLd to the DirectOT. Helen San50n. STATEPIIENT OF RFSPONSIBILrrivs OF THE TRusfEFS The tn￿le£S confirni tht the fina￿la1 st*lrments e(Mnp]y ￿th currn)t ￿ requirements. the memorandurn and articles of &ss(Kiation and the ststem￿¢ of Recommend￿ Pwtic¢ . Accountin8 Reptirting by Clwities: SORP applicable to Ch8riti￿ tryWiDg their in ac4xtrrdancc with FRS ComF•ny law requires the Iruslecs lo p￿pare financia] sta*rnents for each financial year which give a true and faiT view of the state ol affairs of the charitable company and of Ihc iwKomin8 regowces and application of resour￿& inc1￿)ng the I￿ome and ex￿[￿11￿. of the charitsble company frirthat wi()d. Seka suitsbk ￿lICIeS ar#1 then 4pply them c4)tt8istsntty Observe meth(#ts and Wi￿lpleS in the Charilies SORP ststc w￿ther applicable UK Accounting SiaNJards I￿j StsteM￿ of rgcollunen(kd practir have ￿en follorf subject trj 4ny materi￿ dep8Ttwcs di￿1(￿1 atbj ¢xplainod in th¢ fmancia] slatements that the clwity will continu¢ in o￿all at any time the fmancial position of the cbaritable COmp￿￿Y aThl ¢n&bl¢ to eTrsure that the f￿AnCIal statements cO￿PIY with the Companies Act 2(K)6. Try are al￿ TesrM)nsibl¢ for safrgwding the a&8ets of the ¢t￿ltable comwy aThl hence for f8kti)g re&g)nabk strps forthe prevention and detection of frn￿J included on the charitable cotDpany's website. L¢giskntion in the United Kingdom 8ov¢rning tl preparation and dissemit￿tion of financi8] Statem￿ may differ from Iwlation in oth¢r jurisdictions. THE SWITCH CHAIUTY LIMITED Trnstees? Report For the Year Ended 31 AuEllSt 2024 srATKMKNT AS TO DISCIA)SURE TO OiIR AUDrroRS There is no relevant a￿lt information of which the clwi18bk company's aUdi￿ls are unaware; The I￿￿t￿ hv¢ taken all steps that ha￿ laken to ll￿e themselves awa￿ of any relevant audit iDformati(m and to establish that the a￿AlO[S are aware of Ilwl infornialion. RKIATED PARTIFS Related parties are slMJWn inNote 20 to the fina￿la1 stslemeiitk AUDITORS The audito￿ Goldwins Chartered AccouD• offer themsclv¢s for appoitthent in ￿)rd￿ with ¢tion 485 of the CompAtiies Act 2(Xl6. ThisreportW&8approvedbyth¢ bO￿d¢￿................................. their behalf. .. 2024 and si￿1 on Mark Campbell Dirttti)r *•d Chairma THE swrrcH CHARITY LIMITED Indepemdent Auditor'x Report To the members of The Switeh Charity Limited Opillio We have audited the finatKial statements ofTr Swi*h Ch•rity Limiltd (th¢ 'cl)arAtsb]e company,) for the year en(kd 31 Aug11512024 wbich cotDPTise the Stat¢m¢nt of Financial Activiti¢% the Balance s¢alement of cash flows a￿1 not￿ to the fuwKial sithnenLK including a summary of signifi¢ant &ccow)ting p)li¢i¢s. The finatKial Yetx)rting framew(Yk that h&s applied in their preparation is applicable law and UDited Kingdom Accounting standa￿ incI￿ling Financial Rewting StsThJaTd 102: The FinaDciai RerM)rting Stsndard awlicable in the UK atKI Republic of Ireland (United Kingdom (knerally Accepted Accounting PTxtic¢). In our Opinio￿ the fin￿￿la] stath¢nts." give a and fair view ofthe stth ofthe charitable e4)mpany's affairs &8* 31 Augiist 2024 and Pwtice: B*sb for oplnloll We coThlucted OUT a￿111 in ￿cor￿ with Inter￿1￿ Standard5 on A￿liting (UK) (ISAS (UK)) and applicable law. Our respO￿lb)litieS U￿kr those stsndarts are furthLY described in the Auditor's responsibilitie5 for the audil of th¢ firwicial sts*n)ents SLttion ofour repxL We indepenkn of the Charitsble company in aca)r￿ with the ethical requirements that are relcvont to our a￿j1¢ of the financial sts*ments in the IJK, I￿l￿j1ng tk FRC'S Ethi￿1 StsThJard and we havc fulfilled OUT othcr ethical resp)nsibilities in XC0rd￿ with tlue requir¢m¢nts. W¢ believe thaithe audiievld￿￿e we have obtaiDed is suffKieDt and approtriale to [￿Vide a basis f(f ouropinN)n. CoDclllslonJ reknthig to goknz emetrn In audiling ￿. fubinLial Sts￿C￿¢￿ts, wc have concluded Iliat lh¢ trustees, use of the goiD8 CO￿¢rn b￿19 of a¢￿￿nting in the [Ke￿ratIon of the finarKial thfrmcnLs is aF>PrO￿ale. or Conditions thaL iThJividually or colle£tivcty. c&st significant doubt on the ch8Titsbl¢ rompany'y ability to Continue &8 a going co￿￿rn for a Fri(Ml of at least twelve montlL% from wI￿n tr financial Stalements aR authorised for (kn ￿$￿ibIlitieS and the R8p)L871 )ililics of Ihc trus*es wilh TW to goiDg concern are 4kscrilKd in the relevant secti(MLs of this rwL Other illfonnati included in annual re[￿ other than f￿alKi&l ststements 2nd auditor's re[￿ thereThL Our opinion on fmancial ststrmerts does not cover the other infonnation ar& except to the extent otherwise explicitty stated in our tem do not exp[￿8 any forni of &8sur￿￿ conclwion theTeon. THE swfTCH CHARITY LIMrrED tndepeDdent Auditor's Report To the TrLyllbeTJ of The Switth Charity IAmite41 In connection with d￿j1¢ of the financial *aternent% (wres￿ibility is to re&J the other inf¢Jrniation and. in doing so. w￿lder wlrther dt other iDforni8tion is materially inconsistent with the fwAan¢ial ststem¢nts or our knowledge obtsitrd in the audil OT otheTh￿ apFtaTS to be materially misslated. If we Adentify such material incotLSiStcn¢ies OT apF￿¢￿t Materi￿ misslat¢ttient% we are TequiTed to delermine whether theTe isa material misststemurt inthe fjnancial 5tatetnents OT a material misstatement of the other infonnation. If. b&se4J on the work ¥¥t have p¢rfornied. we CO￿l￿k there is a Materi￿ mi5thyJJgnt of this other 1nf0nnatio￿ we required to Ny)rt that f¥£L We havc n(khiDg to rcN)rt in this regu Oplmlons OD Other pr¢•¢rlbed by the Companles Act 2006 In our opiniijn. b&8ed on the work und¢th in the cour* of the audiL" the infoTmation given in the tr￿￿tees. rep￿ (inyrntirE the dire¢tOTS' re￿rt) for the fIn￿claI year for which the financial staiLTnents are preFwed is ￿NsiStenI with th¢ fmarKial statements. appIl￿ble Iwi requirernents. Matters tm wkkh we •re req•lred to report by excepth) In light of the knowledge and understsnding of ts Cjwitable compHny aTrJ its envir0run￿t obtained in th¢ course of the audiL Mie ha￿ nol identified rnater1￿ misstat¢ments in the TnL*es' Annual ReporL We have nothing to rep(Yi in resp￿1 of d* followin8 matlcrs in relation to which the compani￿ Act 2(￿ requires us to rep)rt to you if. in our opinion: adequ* accounting records have N)t been ke0 or Tetum8 W for ow a￿lit hav¢ ken reczived from br￿heS not visited by ￿. certsin disclosures of trusteu. remune1￿1￿ specIf￿d by law are not m*k; or we have Th)t obtainedall the iDfoThation at¥J explanations r¢cessary for the purposes of ouraudil. The director5 wert entitled to txepATe t￿ fmwKial ststements in acc(rdawe with th¢ small ResponMI)ilitle8 of the trDsttts A% explained more fully iti the tr￿Sle¢s. tesp)nsibilities ststemenL the tn￿ are responsible for the preparation of the financial slatrlnents arKI for ￿Ing Satisfi￿ that they give a true and fair view, and f swh internal control &$ they det¢Ttnine is nec&ssary to ¢nabl¢ th¢ We￿ation of financial ststcments that are free from material tni&stthellL wlth¢r to fiaud or ernr. In preparing the financial ststementy the tr￿￿teeS are resp)nsible for asse￿Ing the ChaTitable ¢omp8ny's ability to continue as a going ￿ disclosin& &% wlic8ble. matters related to going COn￿M aod SiDg the going wicern FASiS of xcountin8 the tr￿Stee5 eithtr intrnd to liquidate the Charitabk C4)mpany or to cease operatior4 Ix have no Te4li5ti¢ alternative but to do so. THE SWITCH CHARITY LIMITED Independent Auditoex Report To the m¢￿berS of The Switch Charity Limited Omr reswmsibilitia br the *•dit ofthe rwa•¢1￿ statemettts Our objectives are to obtsin nxsonable aswrartt al￿1 the fin￿18] state1￿ ￿ a wlM)ie are free from m*ial Mi￿lemen( whethe¥ to fra￿1 or eryor. and to iswe an auditr*'s retM)rt that our opinion. Re&8onable ￿urdnce i8 a bigh kvel of assur￿ but is Th)t aguardntee thatau audit condu¢ied in a¢¢ordAn¢¢ with ISAS (UK) will always detect a m8tui81 mi8#atement WI￿￿ il exis DAis&tatements can arise from fia￿j orerror a￿1 orr ¢o]ksidered material if. I￿lIViduallY or in the aggregate, they ci*lld reL8onably be exprc￿l to iollutnce the ¢cowllic d￿LS1O￿8 of users tak¢n on tl* bASiS ofthe rinancial ststements. Irregularitie& i￿lUding fra￿ a￿ iT*la￿ of noTr-CAJmplia￿X wilh laws and ￿￿latiOns. We design pr(Kedwcs in line with our resrM)nsibilitie4 outlined a￿v4 to detect matrrial misstalements in respect of irregularitie4 incI￿lIng frnud. The extcnt io which our lwd￿$ are c4*ble of thiectirjg irregu]aritie includin8 frawl are set out FKIOW. Cap*billty ofthe *udh in d¢lertl•g lThyl*ritie8 In identtfying and &8sessing risks of m￿ala1 misststrment in resrttt ofirregularitie4 inc]￿ling fra￿ and non-complianr£ with laws and regulalions our FYrKaures inrlth the following: WeenquireAlof managetnenL Wh￿￿1 I￿luthd obtsinin8aThl rvi¢wiD8 SUPWtingthume￿o concerning the charity's wllicies aTrJ ￿￿￿UTeS relating to: IdentifyiD& evaiilltin& complyiTE with laws and and whetkn dxy were aware of any iThIlan￿ of noR￿COMplianCe. tklecting and reSFthdi￿ kn the risks Offra￿J wbcuw trKy hve knowledge of any actual, s￿SPec*￿ or alleged fra￿. The internal controls eslab1i4￿d to miti8ale risks related ¢0 fra￿1 or non-comp11a￿e with laws and ￿ltiOn We obtsined an Un&[￿Ing of the legal and Yegulatrffy framework that the charity otxrat&% ir4 roc￿1￿8 on those laws regulations that h￿1 a m*ial effect on the firAncial statements or that had a fundamental effect on the oFmliorL8 of the charity from our pro[￿Sion￿ a￿1 sector e￿rie￿e. ry)mpliance with 8prAicabk laws and indicate ri8ks of material misslatement to frawj. In addr￿lln8 ￿ risk of fra￿￿ thr￿ mar• override of ¢ontrol4 we leste4J the appropriatrne&s of jownal ¢ntri¢s atKI Ott￿ adj￿￿1& assessed whether the jtyments math in making accoullting estimates are i￿licative of a Frfrtential bias and tcsled SI￿lficant trans￿tiO￿% that are Un￿u81 or those outside the Th)rnial Course of business. Be￿uSe of the inherent limitstions of an I￿14 tkn is & risk that we not detect all irregularities. inclwling those leading lo a matrrial io th¢ fu10noi81 statements or non-complianrz with regulation. This risk Increa￿ the more that complion(t wtth a law or Tegulation is removed fn)m the events atMI tranwtiO￿ Tefkctcd in the financi￿ &¥ we will ￿ les5 likety to become aware of instatw of rK)Tr￿mpllaNe. The risk is also gTeater rgardinE irregularities (tturring due to fra￿] ratkr io THE sW￿CH CHAIUTY LIMITED Independent Auditor's Report To the members of The Switch Charity Lirnited A furtber duuitAion of our re5W￿￿E ilities is available ￿ the Fina￿1￿1 Rel￿till8 Council's websAte at: www.frc.org.uklauditorsresp(4isibilities. This description forn￿ part of our a￿litOr'S rep)rt. Uje of our rnport This report is made g)l¢ly to th¢ CFwitsbl¢ r￿panY'S MemE￿[S a Ix)dy. in accord￿ with Ch8Oer 3 of Part 16 of the Companies Act 2(KhS. (hjr audit work h&s been urthrtaken so that we might stats to the Charitable comwiy's mcmtus matter5 we are rwuired to them in an auditor's r¢IKYt and for no other purFrf)se. To the fullest ex*nt ￿MIllIed by law. we do nol acccptor&&sume TesN)Dsibility to anyon¢ other than the Charitable ￿)MpOny.3 rnemi￿ as a ix)dy. for ow awlil worK for this repotL or for the opinions w¢ have f(xme Anthony F.pton (. nlor Stathtory Auditor) for on beh*ifof Golthvins lJimited Sta¢ut•)ry Auditor Chartered AttouDt*nts 75 M4ygrov¢ Road West H*mpxte*d la)ndoll NW6 2EG li THE sW￿CH CHARITY LIMITED Statement of Financial Activities OAcorporatiDg Income *•d ￿penditure AcLY>unt) For the Year Ended 31 t 2024 Fuuds 2•24 Ads 2024 Fvnds Totsl Funds 2024 21)23 Note ]F4COMK FROM: Ik)nations 19.134 19.134 23.918 Charitable #tivities 732,812 364.880 1.(In.692 I.IM6.123 35.569 35 19,146 TOTAL INCOM 15 95 EXPEND￿ ON: Ch￿Ilable ￿tivitiES 704225 344J98 1.048.623 1,037.7¥2 TOTAL EXPEiYDrruRE 704 Net iBcom¢ l (¢xpe•dithre) for the ye•r 103.7n $1,405 Total futh fonvard 631323 403,992 ,036J15 984.910 71 13 42 74 15 12 THE SWITCH CHAIUTY LIMITED Balance Sheet Asa131.Au st 2024 2024 21124 2023 21123 FIXED ASSETS Tangibl¢ awts 23,052 28242 178.740 I JOl.320 368270 1,316,995 Cash at bank and in hard 1,480.060 1,685265 CREDTTORS: Atnounts falling due within on¢ year 677.192 NET CURRENT AssKrs 1117035 I C(18 073 TOTAL NET ASS R¢%tricted funds Unrestricted lunds: Getwal funds 424.474 403.992 715 613 715.613 632J23 TOTAL FUNDS Mark Campbel] Dlre¢tor *nd Ckairnan Comp•ny Regis￿t￿jll 02K17835 i.￿ att&bed not¢5 f23 Trade creditLYS Accruals Taxation and s(Kial seci Defrrrtd irKom¢ 14.755 5.851 19.992 617.915 18,679 6,380 10.359 327.425 12.852 25 THE sW￿CH CHAIUTY LIMITED Not¢s to the Financial Statements For the Yeydr Ended 31 Au ust 2024 11. ANALYSIS OF A&￿￿ BETWEEN FUNDS FOR THE YEAR ENDED 31 AUGUST 2024 Fwnds Totsl FuDds 21)24 2024 Funds BnlaDCeS at 31 August 2024 are repre%{￿led by: Tangibk fixed assets 23.052 23.052 1.117.035 424.474 Total Net 71 13 74 12. ANALYSIS OF A&8rrs BEIWfKN FUNDS FOR THE YKaR KNDED 31 AUGUST 2023 UAreAtrnted Restrleted Funds 2011 Total FMDds 2023 21n3 Fuods at 31 A•g•st 2•23 Ire repruented br. Tangible fu(ed &￿ts 28242 604.081 28,242 l.(K18,073 403,W2 Total Net Assets 403 15 THE sW￿CH CHAIUTY LtMrfED Note3 to tbe Finan¢ial Ststements For the Year Ended 31 Au St 2(124 MOVEMENT IN FUNiXS FOR THE YKAR EIWED 31 AUGUST 2024 At th¢ start of the year At tbe end In¢ome Expe•ditsre Tr*Dsfera of the ye*r Restricted funds: Become Mote . AspiratioJL (Aim 2 Attain) 87556 286.6T7 29.759 403992 12295 327585 25.(KK> (12,856) (331.542) 86.99) 281720 NNP.cU￿ICuluM Total restrirted f•nd8 42 474 Unreslrkted hmds: General funds 632J23 787515 (7N225) 715.613 Total U•TeStricted fands 2JLI 787JlS (704225) 7J5 13 Total funds 1.036JiS 1,152J95 (IW623> 1.140.087 I& MOVEMENT IN FUNDS FOR THE YEAR ENDED 31 AUGusf 2023 At th¢ sl•rt of the year At ihe ud IDeome FApeDdh•re Tr•n$f¢n of the ye*r Restr*led fvnds: Become More . Aspiralions (Aim 2 Attain) BLi4iness mentrfjing NNP-Curricu]um Totsl res¢rTt¢d funds 91,484 295,470 29.759 41A713 16.536 338.585 (20,464) (347,378) 87.556 286.677 29.759 403 121 U•ru¢rieted f•uds: C¢Deral fwmds 56&1 734.066 (669.940) 632J23 Total unT¢str￿d fumds 56&1Y7 73￿￿ (669.940) (J2?23 Totsi fund• 984,910 I,089,J (L037.782) 1.036a15 25 THE SWITCH CHARITY LIMITED Notes to the ￿￿￿¢1%1 StatemeDts For the Etsded 31 A st 2024 I& PURPO8F OF RLSTRICTED FUN Aim 2 Attai To provide 8 Frfoiio ofaspirntion a￿ded￿th)nal xtivilies for pre aDdp)st.16 stthnts in Tower Fl.iiii* d&sigwl toencorye ouryoung Fople to the cl&)Ke atbj Opp￿tUnItieS open to BMsines¥ MeDtoriDg The Business Mentoring ￿herne aims to equip p￿lIS with belter WiderSt￿ln8 of cwr OPFM)rttmilie& developtheiremployability ski]ISa￿l widen ￿lT view of the OPk￿MitieS available to dKm. A6. R￿ONCILIATIoN OF Nrr TNCOME I (EXPENDITUILE) TO NET CASHFIKIW FROM OPERATING AcrivrriLS 2•24 21)23 Net movemeM¢ im f•nds for the reportiAg perknd (*8 p¢r th¢ s¢*¢¢n¢D¢ of l]D*m¢l*l •rtlYiUu) i￿p￿clAI10n Inleres¢ rent and dividends from investm (Increasey de¢rt%e in debtor5 I￿reaSe1(de¢reLqe) in CTeditotS Net Ush provide41 by l (uged il) operathi% #tfvldes 103,772 51,405 7,156 (35.569) 189,530 ,757 (19,146) (151,140) 368,521 149 78 17. ANALYSIS OF CASH AND CASH EQUIVALKNfs FOR THE YEAR ENDED31 AUGUST 2024 At the slart At the end of tht year c￿ Ilowy of tht year C&8h at bank and in haTr Totsl cash amd cash e4•lv2knts lJ16.995 15,675 15 1.301.320 20 18. ANALYSIS OF CASH AND CASH EQUIVALETh FOR THE YF.AR EI¥DED31 AUGUST 2￿23 At the start of the year Cash At the end ofthe year C&sh at bank a￿1 in haThJ Totsi t*sb and eq•iv•knts 1.042.271 71 274.724 274.724 1.316,995 26 Not￿ to the FiDaneial Statements For the Year Ended 31 u$t 2024 19. LEASE COMMfTMEI Tl* charitsble company Si8￿d a 3-Y￿ lease ¢)n offre ptemises in E&sl L￿ndon in Augusi 2024. The mtnimum amlual rentsls wabk the leases are &8 follows: 2024 2023 Within l ycar Within 2-5 years 77,5(M) 71.463 232 147 926 REIATED PARTY TRANSACTIONS are employ￿ by 0rgani8ati0￿S which give fjnancial sUw￿rt to the charity. The organisations for which the tru¥tees work fjre slThn Tr) I. Tr fi￿di￿ PTovidcd is sirn in Notes 3 and 4. 27