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2021-03-31-accounts

Annual Report For the year ended 31 March 2021 Charity Number : 1045411 and SC040506. Company Registration Number : 03031621

SpringboardUKCharity @Springboard_UK Annual Report 2020-2021 Springboard_UK SpringboardUK 1

www.springboard.uk.net

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Contents
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About Springboard 4
Our mission 4
The Springboard Charity & Springboard UK Ltd 4
Who we work with 5
Strategic report 6
Chairman’s and CEO’s review 6
Activity review 8
Impact report 10
Success stories 12
Industry partners 15
Governance report 16
Objectives & activities 16
Financial review, reserves policy & going concern 17
Structure, governance & management 18
Board of trustees, sub-commitees & trustee responsibilities 19
Risk management 20
Legal status 20
Independent auditor’s report 22
Financial review 26
Group statement of fnancial activities 26
Consolidated and charity balance sheets 27
Consolidated cash fow statement 28
Notes on fnancial statements 29
Reference and administrative details 44

Who we work with

Springboard’s beneficiaries fall into three main categories:

Springboard’s mission is to futureproof the talent pipeline for hospitality and tourism.

• Young people under the age of 25 – Springboard works with young people in secondary schools, colleges and universities to nurture them into careers within hospitality, leisure, and tourism. This includes resources to help teachers deliver vocational courses more effectively, activities that enhance student learning and bring the industry alive in the classroom as well as bringing young people out into the industry.

• Unemployed adults of any working age - Springboard offers a range of programmes to give people who are out of work the opportunity to enhance their chances of securing sustainable employment. Individuals are assessed to identify the type of support they need and directed onto the most appropriate Springboard programme or signposted to other specialist providers or straight into work depending on their level of need. Our programmes provide engaging and motivational job ready training, work placements that help people into jobs, change their lives for the better and provide mentoring support once in employment.

• People living in poverty, facing hardships or

The Springboard Charity

Inspires young people into careers in hospitality, giving them knowledge, skills and advice through our education programmes in schools, colleges and universities.

Helps people get sustained employment through our training programmes, tailored support, dedicated after care and access to work placements; Launching people into future careers in the hospitality, leisure and tourism industries.

Springboard UK

Provides specialist careers advice and guidance – and champions the hospitality industry, promoting it as a rewarding and worthwhile career path. We also collaborate with our business partners to imaginatively attract and retain talent.

Equips hospitality businesses with hard-working, motivated and enthusiastic staff now and in the future.

Together, we tackle youth unemployment and poverty across the UK, help people achieve their potential, improve perceptions of the industry and build skills, confidence and morale to aid a full recovery post coronavirus.

disadvantages in life – Springboard also helps to support those who face special challenges in securing employment and holding down a job. These programmes include a greater concentration on building self-belief and breaking down barriers, providing coaching to increase confidence as well as practical support, such as digital equipment and data, smart clothing, help with budgeting, covering travel costs to attend courses, interviews, and vital mentoring support. We ensure that everyone is given the opportunity they deserve, regardless of age, background and ability, so that we can make a lasting and sustainable impact.

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Springboard in 2020/2021
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27,010 1,952 47,442 420 Pupils reached Beneficiaries People gaining Schools, through careers supported through careers college and and education employability information and universities programmes programmes guidance worked with

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Strategic report

Chairman’s review

important. Business will come roaring back and we need young talent at the heart of this growth.

The hospitality, leisure and tourism sectors experienced a year of turmoil last year, with many businesses shut or heavily restricted for 9 out of 12 months. However, one of the industry’s biggest challenges has been many years in the making. Springboard was set up 30 years ago because there were not enough skilled young workers coming into the industry to fill all the jobs.

In order to step up to this challenge, Springboard went through a period of change last year, strengthening the boardroom and senior leadership team while navigating the impact of the pandemic, adapting operations so they’re fit for the Covid world and creating a sound financial position to grow the organisation in 2021 and beyond.

At the heart of this growth is Springboard to 2022, our response to the industry’s staffing crisis and Springboard will be supporting 10,000 young people into work in hospitality, leisure and tourism. Progress is well under way and we are extremely grateful for the support of lead partner Savoy Educational Trust.

As hospitality rebuilds from the pandemic, we have a big job to attract more young people to address the current skills gap. The pandemic and Brexit have seen us lose some great talent from across the sector and it’s imperative we showcase hospitality and its career prospects. Our role is to rebuild our sector again by creating job opportunities and providing the training and development that young people deserve. As an industry, we must demonstrate our commitment to the future of young people in this country.

Finally, I would like to thank all the board of trustees, Chris and the Springboard team and all the individuals and businesses who have supported Springboard over the past 12 months.

Alastair Storey Chairman Springboard

Springboard’s role of connecting young people with this industry, beginning within education and showcasing careers in hospitality, has never been more

CEO’s review

It was an absolute privilege to have joined Springboard last year during one of the most challenging, but also important points in its 30-year history.

As the widespread coverage of industry staffing shortages demonstrate, Springboard has a vitally important role to play in addressing this, through promoting hospitality to the next generation, attracting talent into it, giving young people the skills to launch their career and helping them secure their first job.

The team did a fantastic job navigating the challenges brought about by Covid, reducing costs, switching fundraising from industry donors to emergency grants, industry foundations and corporate partners and creating a solid financial position to build on in 2021 and beyond.

Operations were adjusted for the world we found ourselves in and the creation of the Digital Hospitality Academy meant we were able to continue to support 1,952 trainees with a blend of online learning and virtual one-to-one support when national lockdowns put a stop to face to face activity. Developing a FutureChef digital academy and online competition allowed us to continue to engage 25,271 young people and develop the next generation of chefs.

A major development this year was the creation of CareerScope as the industry support hub for those whose jobs were affected by Covid and those looking to enter the industry. At the start of the pandemic, Springboard partnered with Hospitality Action, UK Hospitality, Savoy Educational Trust and the Institute of Hospitality in a historic move to leverage our support for the industry. CareerScope features free careers advice, training resources, health & wellbeing support, financial advice and live jobs.

In October, we launched Springboard to 2022, our most ambitious ever project and our solution to addressing the staffing

shortages we foresaw post-Brexit and postCovid. Our goal is to have 10,000 young people engaged, skilled and ready for work when the industry recovers and needs them. Our role is as the central hub, seeking out, securing, training and nurturing the future talent pipeline, working with those we’ve trained to help them identify roles and move into employment.

Our trainees are engaged and ready for work and typically remain with their first employer for 18-24 months, nearly twice as long as the industry average, so we want to hear from any employer able to offer them an opportunity.

The government’s Kickstart scheme is an important part of Springboard to 2022 and Springboard became a gateway employer this year, acting as the conduit between the industry and government, making the process easy for employers and maximising hospitality’s participation in the Plan for Jobs programme. We are currently working with more than 200 different employers, helping them fill more than 3,000 hospitality vacancies.

None of this would have been possible without the support of our key partners, including Savoy Educational Trust, Diageo, Barclays, BaxterStorey, Compass, Hilton, IHG, CH&Co, Sodexo and many more businesses.

Finally, I’d like to thank Alastair and all the trustees, our patrons, supporters, the Springboard team and any business or individual who has given their time, energy and support to Springboard this year. We look forward to building on a successful year and playing a major role in the industry’s recovery from the Coronavirus pandemic and futureproofing the industry talent pipeline in 2021 and beyond.

Chris Gamm

Chief Executive Officer Springboard

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Activity review

Springboard to 2022 is our signature programme to support the industry’s recovery from the coronavirus pandemic, futureproof hospitality’s talent pipeline and ensure the industry’s staffing crisis doesn’t return worse than ever. It will join together the various programmes and activities Springboard delivers, with a goal of delivering at least 10,000 young people into work as the industry recovers.

Springboard will oversee this process, from engagement and outreach, assessment, ensuring young people take the right path into work, accessing government funding, delivering training, managing relations with partners and employers and supporting beneficiaries into employment.

The support of a number of key industry organisations has been secured, including Savoy Educational Trust joined as lead partner, BaxterStorey and Diageo as official partners, and many project partners including Compass, CH&Co, Hilton, IHG, Sodexo, Nando’s, D&D London, Ivy Collection, Gleneagles, Dorchester Collection, Hawksmoor and many more.

Employability programmes

We help transform the lives of people who have barriers to work and can benefit from our support, so that they get sustained employment in hospitality, leisure and tourism, whatever their age, background or ability. We do this by providing tailored support, quality programmes, dedicated aftercare, access to work experience placements and ultimately sustainable employment.

Key programmes include:

Education programmes

Springboard nurtures young people into careers in hospitality, leisure and tourism by equipping them with the inspiration knowledge, skills, advice and guidance they need. We do this through our award-winning education programmes in schools, colleges and universities. Key programmes include:

• FutureChef is Springboard’s flagship educational programme, consisting of a nationwide schools programme throughout the year, serving the Gatsby benchmarks, as well as a cooking competition open to 12-16 year olds.

• Career Hubs – a series of digital careers days, showcasing careers in hospitality to thousands of school leavers around the UK, featuring employers spotlights, talks from Springboard Ambassadors and advice on personal qualities, applying for work and interview skills.

Careers & advice

We provide specialist careers information, advice and guidance to inform young people, adults and key influencers about the industry and facilitate quality work experience opportunities. We do this through our specialist careers activities on-line, face-to-face and through careers events.

Key programmes include:

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Careers & Careers
Employability
education services
27,010 1,952 47,442
Pupils reached through careers Beneficiaries supported through People gaining careers
and education programmes employability programmes information and guidance
1.1m
25,271 11,022
Campaign reach promoting
Students registered for E-Learning modules
hospitality, leisure and
Impact FutureChef Digital Academy accessed
tourism careers
2020 - 2021
During the most
challenging of years, 420 5,523 26,843
Springboard made Schools, colleges and universities Training webinars Schools, colleges and universities
a major impact worked with attended worked with
in supporting our
beneficiaries and
delivering against our
vision and mission
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Devonte Tulloch, Compass Destination Hospitality

“Amazing experience! Never had an opportunity like this and it was one of the best things I have done.

We have helped 1,952 beneficiaries this year

I enjoyed the online modules as they were fun and I also enjoyed the webinars the most because I loved meeting new people in different roles and learning what they do.

Kayleigh, John, Devonte, Sian. Kirsty, Maria, Rachel and Redha are just some examples of how Springboard makes a difference.

I also loved working with Tony and Sharon, it was a great experience and would recommend it to anyone, thank you very much for the care, support and opportunity, thanks a lot I really appreciate you all.”

Kayleigh Christie, Diageo Learning for Life Bartending & Hospitality Course

“I was a catering assistant before the pandemic set in and I lost my job in 2020. It really affected my confidence and self-worth and I sat around doing nothing most of the time. Then I discovered the bartending & hospitality course with Springboard and Diageo.

Sian Eedy, Digital Hospitality Academy Wales

“The training modules have been very helpful in my search for work and I continue to try new modules as and when I can. The CV building was particularly helpful to me, as I had not been able to write a successful one for many years. Your help was invaluable throughout the course and even now knowing I can contact you for assistance is very reassuring.

I learned a lot of things I didn’t know working in the hospitality industry beforehand. My confidence is boosted so hight and I’m so happy. The most helpful thing about the course was that the staff and fellow graduates were friendly and support and we all learned new things and gained new friends in the way. Now I have two interviews booked and my job prospects are opening up and I am confident and looking forward to my future.”

Thank you for all your assistance. I have been able to find work and it is mainly due to the Springboard course help!”

John Harris, Diageo Learning for Life Bartending & Hospitality Course

“I have been unemployed for some time and always wanted to work in a bar or restaurant. The course has given me a great opportunity to work in hospitality and I have gained self confidence in my abilities to succeed. It was not easy, but I have now graduated the course and feel I can confidently apply for jobs in bartending and hospitality.

Kirsty Macbeth, Diageo Learning for Life Bartending & Hospitality Course

“The Diageo BHC Programme has helped me in an array of ways. Before I started the course, my anxiety was high and my motivation low but by taking part in this programme it has really helped bring me out of my comfort zone and achieve so many things I wouldn’t have normally done.

The training through Microsoft Teams and the modules were very good and I did my food safety and personal licence holder exams which I am most proud of. I have recently started work experience with a local café in which I am putting theory into practise and I am enjoying it very much. I have made friends through the course and the tutors and guest speakers have supported me to drive myself more. The online course was good for me as I could do it at my pace, but the modules were sometimes difficult to get my head around sometimes, but I graduated and I can now focus on doing more with my life.”

Diageo BHC Programme isn’t just a course, it’s a family and a great way of making friends. Now I’m motivated every morning to get up and achieve not just my potential but above and beyond. I have also secured a job working in Owens Bar in Bellshill, North Lanarkshire.”

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Maria Bacol, Inspire Hounslow Destination Hospitality

“I heard of Springboard from the Job Centre. My Work Coach thought it would be a great programme for me to participate in as I have always been passionate hospitality. I have never really had any help with CVs or mock interviews as I have never really had to have a ‘proper’ job interview.

I feel more confident about the prospect of approaching people and providing excellent customer service. Before the programme I was shy before but now I had had a massive boost in my motivation. I have thoroughly enjoyed getting stuck in with the live webinars and training sessions. I’m now working as a waitress at Japanese restaurant brand Kokoro.”

Rachel Creer, Diageo Learning for Life Bartending & Hospitality Course

“I knew I wanted to work in hospitality, but wasn’t confident in the skills needed for these jobs. The programme content covered it all. I left with better qualifications and training, but also job searching and interview skills I didn’t previously have. I gained more knowledge and skills about the functioning of bars and restaurants and the background to the food and drink served there. I received a lot of one-on-one support, particularly with interview help and choosing the best job for me. I can’t wait to put everything I’ve learn to practice in my job working behind the bar at the Deramore Arms.”

Redha Saad, Savoy Educational Trust Destination Hospitality

“I have really enjoyed the course- it has given me lots of valuable information and made me more aware of my personal strengths. I have already had a few job interviews and I’m really looking forward to securing a job where I can start to use what I have learnt on Springboard’s course.”

Industry partners

We are hugely grateful to all the organisations, businesses, individuals and partners who support our work. They include:

Corporate partners

Business partners

Funding partners

Savoy Educational Trust, The Storey Foundation, DM Thomas, Inspire Hounslow, Worshipful Company of Cooks, Worshipful Company of Innholders, National Lottery Wales, Tomoro Foundation, Lord Forte Foundation, Springford Trust, Skills Development Scotland, Peter Cruddas Foundation, Hilton Effect Foundation, Solidarity Accor, Jabbs Foundation, St James’ Place Foundation, The Gerald and Gail Ronson Family Foundation, William A Cadbury, Robertson Trust, Rayne Trust, Gannochy, Garfield Weston, Moondance, Corra Wellbeing Foundation

Supporting partners

Job Centre Plus, UK Hospitality, Hospitality Action, Institute of Hospitality, Scottish Tourism Alliance, People 1st, City & Guilds, BIIAB. Movement to Work

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Governance report

The trustees present their report together with the consolidated financial statements of the Charity and its subsidiary for the year ended 31 March 2021. The financial statements comply with all statutory requirements and the requirements of the Charity’s governing document.

This report equates to a directors’ report as required by Part 15 of the Companies Act 2006 and this has also been prepared in accordance with the Charities Act 2011.

Objectives and activities

The Charity’s objects contained in the Charity’s articles of association are:

In fulfilling its objects, The Springboard Charity has focused its purpose to provide support to young people; unemployed adults; and people who live in poverty and/or face multiple challenges in securing gainful employment. The Charity aims to help each group better their prospects in life, attain economic wellbeing, through supporting entry into sustainable employment and fruitful careers in hospitality, leisure, and tourism.

Over the next two years, the achievement of these activities will be focused on the delivery of the Springboard to 2022 project, which incorporates all activity spanning education, employability programmes and careers services. In order to achieve the overall project aim of supporting 10,000 young people into work by the end of 2022, key deliverables will include:

Public benefit

The trustees confirm that that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.

The Springboard Charity’s work delivers significant public benefit, focused as it is on helping young people achieve their potential, relieving unemployment or alleviating poverty. An overview of our activities in each of these areas is provided below.

Financial review

The financial statements have been prepared in accordance with applicable accounting standards, current statutory requirements, the requirements of the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (SORP 2015), and the charity’s governing document.

Total incoming resources for the year were £2,711,405 (2020: £2,832,850) and total expenditure was £2,169,703 (2020: £3,195,111) giving a net surplus of £541,701 (2020: net deficit £362,263).

Net assets totalled £654,424 (2020: £112,722) with net current assets of £534,728 (2020: (Deficit £12,185). The liquid cash balance (accessible within one year) was £625,438 (2020: £3,287).

Fundraising approach

Due to the impact of Covid on the hospitality industry, fundraising activity for the first half of the year was focused primarily on trusts & foundations committed to supporting education and employment, Covid grants, individual giving and commercial partners whose businesses had been least effected by the pandemic. This activity was led by an in-house fundraising team and the senior executive team. During the year, as hospitality businesses began to reopen, a business development team was created focused on creating business partnerships and sponsorships with hospitality operators and their suppliers. A Kickstart team was formed in the autumn to oversee Springboard’s work as a government gateway employer, managing industry partners and overseeing their applications to the scheme.

This years fundraising exceeded expectations and overachieved against a budget heavily reduced due to Covid. Income raised through corporate and business partnerships exceeded budget by circa £306,000, grants from trusts and foundations and public funding ended the year £291,000 above budget, while individual giving was £320,000 more than the budgeted amount. However, events and sponsorship income were both under budget, by £74,000 and £55,000 respectively.

We process all donations, fundraising appeal responses and partnerships in-house and continually update our income processes to ensure maximum security, efficiency and accuracy. All staff carry out regular data protection training and our privacy policy and communications give ways for supporters to change how they hear from us. We have continued to further expand and strengthen our volunteer Ambassador network, who play a vital role in supporting our programmes, promoting the industry to young people, taking part in mock interviews, giving industry talks and mentoring beneficiaries.

Reserves policy

At 31 March 2021, the total funds of the group were £654,423 (2020: £112,722). Free reserves, being unrestricted reserves less fixed assets, totalled £436,855 (2020: deficit of £12,185). The trustees have approved a strategic objective to secure free reserves of £1m by 2023 in order to safeguard the financial stability of the organisation. The longer-term target is to cover six months’ worth of operating costs.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the charity will continue in operation for a period of at least 12 months from the date of approval of this financial statement. The trustees and finance & resources committee continue to regularly review the financial forecast in light of the ongoing Covid-19 pandemic and in producing this statement have taken account of the possible impact on the income and ability of the charity to deliver its services.

Taking into account the current environment, the improved financial position, an 18-month cashflow forecast and strong pipeline of activity, the trustees have concluded that there are no material uncertainties about the charitable company’s ability to continue as a going concern.

Annual Report 2020-2021

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Structure, governance and management

Board of trustees

The board of trustees is the governing body that administers the charity. All major decision are made by the board, which meets at least four times a year to discuss and formulate policy and strategic direction.

The trading subsidiary has its own board of directors consisting of three trustees and three executive directors. They are responsible for ensuring that the work of the trading subsidiary is fulfilled properly and for providing reports to the board of trustees.

Trustees who have been in office during the year from 1 April 2020 are:

Trustee recruitment, appointment and induction

The number of trustees shall not be less than three. The Trustees, who are also directors of the charity for the purposes of the Companies Act, are appointed by the board of trustees, following recommendations from the governance committee.

The governance committee is responsible for the recruitment of new trustees, who are nominated for consideration through recommendations received and specific searches, appointing the chair and vice chair.

Appointments to the board are made against a skills and diversity matrix. Appointments are made for a term of three years, renewable. After trustees have served for three consecutive terms, re-appointments may be made subject to the governance committee being satisfied that a worthwhile contribution is being made. All new trustees receive a trustee induction pack and take part in periodical trustee training.

Sub-committees

To assist in the smooth running of the charity, the trustees have set up sub-committees that oversee and advise the charity’s work and they report to the board of trustees. These subcommittees are:

Finance & resources committee

Governance committee

Fundraising committee

Marketing & PR committee

The finance & resources committee and fundraising committee meet monthly, while the marketing & PR committee meet bi-monthly and governance committee meets twice per year.

In addition, advisory boards for London, Scotland, Wales, Northern Ireland and North West England meet quarterly to support Springboard’s aims and programmes and comprise industry employers, employability and education specialists and regional influencers.

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Trustee responsibilities

The Trustees (who are also directors of the Springboard Charity for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company and the group and of the income and expenditure of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time of the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each of the trustees is aware at the time the report is approved:

• The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Risk management

The executive team and governance committee are responsible for the group’s risk register, which is reviewed twice yearly and presented to the trustees for approval.

The risk management strategy allows for the ongoing review of the risks that the group face and the elopement of systems and procedures to mitigate those risks should they arise. In 2021, the register was updated to include risks linked to Kickstart and handling employer training and wage revenue and reputational risk of ensuring employers fulfil programme requirements. Controls and processes are in place to mitigate both risks. A further new risk was added linked to receiving adequate levels of referrals for programmes, with the risk mitigated through a focus on increasing referrals through job centres with hospitality spotlight sessions, regional campaigns, weekly briefing calls with referral partners.

Equality, diversity and inclusion

Springboard’s aim is to have a team who live and breathe our values, feel proud to work for Springboard and are productive and committed. We plan to lead, support, and improve our people, while delivering on Springboard’s strategic objectives. Springboard’s equality & diversity policy includes a commitment to preventing and eliminating of unlawful and unfair discrimination and encouraging diversity among our workforce.

Our aim is that our workforce be truly representative of all sections of society and each worker feels respected and able to give their best. Springboard actively builds a culture that values meritocracy, openness, fairness and transparency; and opposes all forms of unlawful and unfair discrimination, be it direct, indirect or by association.

In 2021 Springboard launched a new internal training programme which included unconscious bias training for the first time. All staff were given information about the

Disability Confident scheme and were asked to update their medical information within our HR platform BreatheHR. From this we are able to ascertain that 33% of staff have a disability or moderate to severe condition. Line Managers have regular one-to-one discussions with staff and make adjustments and support where necessary. During the Covid19 pandemic Springboard has also taken additional steps to support staff with access to the Hospitality Action Employee Assistance Programme, virtual coffee breaks, quizzes and Christmas events.

Legal status

The Springboard Charity is limited by guarantee and does not have share capital. Consent has been obtained for the omission of the word “Limited” from the name of the company, under the terms of Section 30, Companies Act 2006. It is a registered charity, number 1045411 (England and Wales) and number SC040506 (Scotland). The Charity’s status was formalised in the Memorandum of Association dated 17 February 1995, and updated as Articles of Association in August 2021.

The charity has a trading subsidiary, Springboard UK Limited. As well as taking responsibility for raising funds for the charity, the trading subsidiary promote careers, attracts talent to it, provides opportunities for staff development, and supports the delivery of social responsibility priorities to businesses in and associated with hospitality, leisure, and tourism.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by the trustees on 16th September and signed on their behalf by:

Alastair Storey Chair of trustees

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Independent auditor’s report

Opinion

We have audited the financial statements of The Springboard Charity (the ‘charitable parent company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the group statement of financial activities, group and charitable parent company balance sheets and statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group and charitable parent 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 and financial statements, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

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Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, 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 group’s and the charitable parent 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 group or the charitable parent company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 an auditor’s report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those

that arise from error as they may involve deliberate concealment or collusion.

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 auditor’s report.

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 and to the charity’s trustees as a body, in accordance with Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 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 auditor’s 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.

16.11.2021

Hugh Swainson (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

24 The Springboard Charity & Springboard UK Ltd

Annual Report 2020-2021 25

Financial review

Group statement of financial activities (incorporating a finance and expenditure account)

For the year ended 31 March 2021

Notes Unrestricted
funds £		 Restricted
funds		 2021
Total		 2020
Total
Income from: £ £ £ £
Donations and legacies 4 75,500 1,314,578 1,390,078 1,020,635
Other trading activities 4 900,305 - 900,305 1,556,651
Charitable activities 4 27,400 166,242 193,642 255,563
Furlough income 4 227,380 - 227,380 -
Total Income
Expenditure on:
Raising funds:
Trading Expenses
Fundraising Activity Costs
Charitable Activities:
Youth Education
Youth Advancement
Employment Programmes
Total Expenditure
Net income / (expenditure)
and movement in funds
Total funds brought forward
at 1 April 2020
Total funds carried forward at
31 March 2021		 5
5
5
5
12		 1,230,585
522,192
88,864
66,875
22,098
86,728
786,758
443,828
112,722
556,550		 1,480,820
-
-
182,993
267,956
931,997
1,382,946
97,874
-
97,874		 2,711,405
522,192
88,864
249,868
290,054
1,018,725
2,169,703
541,702
112,722
654,424		 2,832,849
704,644
227,372
737,691
440,087
1,085,317
3,195,111
(362,263)
474,985
112,722

All activities are continuing and there were no other gains and losses other than stated All activities are continuing and there were no other gains and losses other than above. stated above.

The notes on pages xx to xx form part of these financial statements. The notes on pages 29 to 43 form part of these financial statements.

Consolidated and charity balance sheets

As at 31 March 2021

As at 31 March 2021
Group Charity
Notes 2021 2020 2021 2020
FIXED ASSETS £ £ £ £
Tangible assets 8 41,888 49,383 - -
Intangible fxed assets 9 77,807 75,524 - -
CURRENT ASSETS
Debtors
Cash at bank
CREDITORS:amounts falling
due within one year
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted Funds
Restricted funds		 10
11
12		 119,695
477,254
625,438
1,102,692
(567,963)
534,729
654,424
556,550
97,874
654,424		 124,907
407,051
3,287
410,338
(422,523)
(12,185)
112,722
112,722
-
112,722		 -
92,324
489,429
581,753
(325,501)
256,252
256,252
158,378
97,874
256,252		 230,930
2,641
233,571
(94,533)
139,038
139,038
139,038
-
139,038

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

Date: 16 September 2021

Alastair Storey OBE, Chairman

The notes on pages 29 to 43 form part of these financial statements.

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27

Consolidated cash flow statement

Notes on financial statements

2021 2021 2020 2020
Cash fows from operating activities £ £ £ £
Net (expenditure)/income 541,702 (362,263)
Depreciation charge 13,304 15,415
Amortisation charge 15,967 1,228
(decrease) / increase in debtors (70,203) 248,301
Increase in creditors 177,411 64,449
Net cash (used in) operating
activities
Cash fows from investing activities
Purchase of tangible fxed assets
Purchase of intangible fxed assets
Net cash used in investing activities
Movement in cash
Cash and cash equivalents at the
beginning of the period
Cash and cash equivalents at the
end of the period
Analysis of cash and cash
equivalents
Cash at bank and in hand
Bank overdrafts		 (5,809)
(18,250)		 678,181
(24,059)
654,122
(28,684)
625,438
625,438
-
625,438		 (21,988)
(53,750)		 (32,870)
(75,738)
(108,608)
79,924
(28,684)
3,287
(31,971)
(28,684)

Analysis of changes in net debt

At 1 April
2020		 Cash
fows		 Other
non-cash
changes		 At 31
March
2021
Cash 3,287 654,122 - 625,438
3,287 654,122 - 625,438
Loans falling due within one year (31,971) 31,971 - -
The notes on pages xx to xx form
Total		 part of these
(31,971)
(28,684)		 fnancial statements.
31,971
-
654,122
-		 -
625,438

ACCOUNTING POLICIES

(a) General information

The Springboard Charity is a charitable company is limited by guarantee and incorporated in England and Wales (Company number 03031621). The registered office is:

Coopers’ Hall, 13 Devonshire Square, London, EC2M 4TH

(b) Basis of preparation

The financial statements are prepared under the historical cost convention. The financial statements have been prepared in accordance with the 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Springboard Charity is a public benefit entity as set out in section 3 of FRS102.

(c) Basis of consolidation

The Statement of Financial Activities (SOFA) and balance sheet consolidate the financial statements of the Charity and those of its subsidiary undertakings. The results of the subsidiaries are consolidated on a line-by-line basis on an acquisition basis from the date control passes to the Charity.

(d) Going concern

The Trustees have considered the requirement that the financial statements should be prepared on a going concern basis. They have discussed at length the effects of Covid-19 and its potential impact on the group’s operations in 2020-21 and beyond. They have concluded that it is appropriate that the financial statements be prepared on a going concern basis.

Taking into account the current environment, the improved financial position and strong pipeline of activity, the trustees have concluded that there are no material uncertainties about the charitable company’s ability to continue as a going concern.

(e) Income

Legacies and donations including corporate and business partnership contracts and donation via service agreements are recognised when receivable or when the Charity becomes legally entitled to them and they can reasonably be measured in financial terms. All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants from trusts, foundations and public funding are recognised when receivable. In the event that a grant is subject to conditions that require a level of performance before the charity is entitled to the funds or where the grant is specifically for a subsequent period, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

The notes on pages 29 to 43 form part of these financial statements.

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Annual Report 2020-2021 29

(f) Expenditure

Expenditure is accounted for on an accrual basis. Expenditure which is directly attributable to specific activities is classified as direct costs and included in those cost categories. Central costs, including governance costs, which cannot be directly allocated are classified as support costs and are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.

Fundraising activity costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

(g) Pension Costs

The Charity contributes to a number of defined contribution schemes for its staff. Contributions are charged against the Statement of Financial Activities as they fall due.

(h) Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided to write off the cost, less estimated residual values, of all fixed assets over their expected useful lives. It is calculated at the following rates on a straight-line basis:

Furniture, fixtures and fittings 20% per annum Computers, audio visual equipment and website 33% per annum

(i) Intangible fixed assets

Intangible fixed assets consist of website development costs and are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is provided on all intangible assets to write off the cost, less estimated residual values, over their expected useful lives of five years.

(j) Operating Leases

Rentals paid in respect of assets held under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

(k) Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

(l) Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

(o) Restricted Income Funds

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

These funds represent grants and donations received towards specific purposes. The cost of raising and administering such funds are charged against the specific funds. The aim and use of the funds is set out in the notes to the financial statements.

(p) Parent charitable company results

These financial statements consolidate the results of the Charity and its wholly owned subsidiary Springboard (UK) Limited on a line by line basis. In accordance with Section 408 of the Companies Act 2006 the Statement of Financial Activities of the parent undertaking is not presented as part of these financial statements. The parent undertaking’s total income for the year was £1,453,145 (2020: £1,276,198) and its result for the year was a surplus of £117,214 (2020: a deficit of £336,783).

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In addition to the above, the full impact following the emergence of the global coronavirus pandemic is still unknown. It is therefore not currently possible to evaluate all the potential implications for the charity’s activities, beneficiaries, funders, suppliers and the wider economy. Estimates used in the accounts are subject to a greater degree of uncertainty and volatility.

As set out in these accounting policies under “going concern”, the trustees have considered the impact of the pandemic on the charity’s financial position and going concern. They have concluded that although there is material uncertainty related to this, it is appropriate for the charity to continue to prepare its accounts on the going concern basis.

The recoverability of trade debtors is considered to be a critical accounting estimate for the year ended 31 March 2021. Due to the impact of COVID-19 and restrictions imposed, the hospitality sector has been significantly impacted and as such there is increased uncertainty surrounding in estimating the level of recoverability of debtors.

(m) Financial Instruments

The charitable company and group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

(n) Unrestricted Funds

These funds are expendable at the discretion of the Trustees in furtherance of the objects of the Charity and which have not been designated for other purposes.

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31

3. SUBSIDIARY UNDERTAKING

Springboard UK Limited, a company limited by guarantee and incorporated in England and Wales (company number 02502511), is a wholly owned subsidiary of the charitable company by virtue of the powers granted to it under the company’s articles of association. Springboard UK Limited carries out work to increase awareness and understanding of the Hospitality, Leisure, and Tourism industry as a career. Its trading results for the year and amounts paid in gift aid to the parent charity are summarised below:results for the year and amounts paid in gift aid to the parent charity are summarised below:

2021 2020
£ £
Turnover 1,258,260 1,556,651
Expenditure* (833,777) (1,582,130)
Proft for the year 424,483 (25,479)
Gift aid paid to The Springboard Charity - (150,000)
Funds at beginning of year (26,315) 149,164
Funds at end of year 398,168 (26,315)

The assets and liabilities of the subsidiary were:

The assets and liabilities of the subsidiary were:
2021 2020
Tangible fxed assets 41,888 49,383
Intangible fxed assets 77,807 75,526
Current assets 621,694 253,456
Creditors: amounts falling due within one year (343,221) (404,680)
Net assets (liabilities) 398,168 (26,315)

Amounts owed to Springboard UK Limited by the charitable parent company are disclosed in Note 11.

4. ANALYSIS OF INCOME

INCOME FROM DONATIONS AND LEGACIES

Group Unrestricted
funds		 Restricted
funds		 2021
Total		 Unrestricted
funds		 Restricted
funds		 2020
Total
£ £ £ £ £ £
Business Partnerships /
Contract		 - 767,434 767,434 - 644,483 644,483
Corporate Patrons/ Adopt-
a-Charity		 - - - - 21,000 21,000
Trusts & Foundations 75,550 547,144 623,644 - 356,152 356,152
75,550 1,314,578 1,390,078 - 1,021,635 1,021,635

INCOME FROM OTHER TRADING ACTIVITIES

Group Unrestricted
funds		 Restricted
funds		 2021
Total		 Unrestricted
funds		 Restricted
funds		 2020
Total
Business Partnerships /
Contract		 242,646 - 242,646 810,147 - 810,847
Ticket Sales (9,490) - (9,490) 32,238 - 32,238
Raffe/Auction Sales 2,247 - 2,247 62,669 - 62,669
Business Sponsorship 120,600 - 120,600 272,760 - 272,760
Corporate Patrons/
Adopt-a- Charity		 42,349 - 42,349 41,116 - 41,116
Gift Aid. 19,190 - 19,190 8,715 - 8,715
Individual Giving 483,763 - 483,763 329,167 - 329,167
900,305 - 900,305 1,556,812 - 1,556,812

INCOME FROM CHARITABLE INCOME

Group Unrestricted
funds		 Restricted
funds		 2021
Total		 Unrestricted
funds		 Restricted
funds		 2020
Total
Govt/Govt Agency/Local
Govt Contracts		 27,400 166,242 193,662 - 255,563 255,563
FURLOUGH INCOME
Group Unrestricted
funds		 Restricted
funds		 2021
Total		 Unrestricted
funds		 Restricted
funds		 2020
Total
Furlough grant income 227,380 - 227,380 - - -

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33

5. ANALYSIS OF TOTAL EXPENDITURE

Direct costs Support Costs 2021 Total
(Note 5)
£ £ £
Fundraising Activity Costs 77,519 11,345 88,864
Charitable activities
Youth Education 199,711 50,157 249,868
Youth Advancement 241,481 48,573 290,054
Employment Programmes 864,365 154,360 1,018,725
Total for Charity 1,383,076 264,435 1,647,511
Trading costs of subsidiary 445,722 76,470 522,192
Total for Group 1,828,798 340,905 2,169,703
Direct costs Support Costs 2020 Total
(Note 5)
Fundraising Activity Costs 205,359 22,013 227,372
Charitable activities
Youth Education 567,228 170,464 737,691
Youth Advancement 353,227 86,860 440,087
Employment Programmes 1,045,517 39,800 1,085,317
Total for Charity 2,171,330 319,137 2,490,467
Trading costs of subsidiary 704,644 - 704,644
Total for Group 2,875,974 319,137 3,195,111

6. SUPPORT COSTS

Support costs have been allocated according to staff time spent on each activity and are made up as follows:


made up as follows:
2021 Total 2020 Total
£ £
Computer and IT costs 77,950 30,735
Finance and HR costs 177,408 177,919
General Offce costs 72,147 97,408
Governance costs – Auditor’s remuneration 13,400 13,075
Total for Charity 340,905 319,137
Group results for the year are stated after charging:
Depreciation and amortisation 29,271 16,643
Auditor’s Remuneration – statutory audit 13,400 11,800
7. STAFF COSTS 2021 Total 2020 Total
Wages and salaries 1,296,010 1,718,463
Social security costs 147,234 170,509
Other pension costs 54,609 73,219
1,497,853 1,962,191

The average monthly number of employees during the year was 44 (2020 – 55). The number of employees whose emoluments exceeded £60,000 were:

2021 Total 2020 Total
£60,000 - £69,999 1 1
£70,000 - £79,999 1 -
£100,000 – £109,999 1 1

Key management personnel remuneration for the year was £267,296 (2020: £300,527) No trustees were paid any remuneration or reimbursed expenses during the year (2020: £nil).

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Annual Report 2020-2021 35

8. TANGIBLE FIXED ASSETS Furniture &
Fittings		 Computers &
Equipment		 Group Total
COST £ £ £
At 1 April 2020 2,004 96,619 98,623
Additions - 5,809 5,809
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for the year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021		 2,004
1,019
400
1,419
585		 102,428
48,221
12,904
61,125
41,303		 104,432
49,240
13,304
62,545
41,888
At 31 March 2020 985 48,398 49,383

9. INTANGIBLE FIXED ASSETS
9. INTANGIBLE FIXED ASSETS Website development costs
COST £
At 1 April 2020 76,752
Additions 18,250
At 31 March 2021
AMORTISATION
At 1 April 2020
Charge for the year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021		 95,002
1,228
15,967
17,195
77,807
At 31 March 2020 75,524
10. DEBTORS Group Group Charity Charity
2021 2020 2021 2020
£ £ £ £
Trade debtors 246,046 255,729 23,183 91,306
Other debtors 610 25,000 610 25,000
Prepayments and accrued income 230,598
477,254		 126,322
407,051		 68,531
92,234		 114,624
230,930

11. CREDITORS: amounts falling due within

11 CREDITORS: amounts falling due within
.
one year		 Group Charity
2021 2020 2021 2020
Bank loans and overdrafts - 31,971 - -
Trade creditors 85,043 162,804 - 7,710
Sundry creditors 7,973 9,774 - 1,133
Taxation and social security 134,833 149,975 - -
Accruals and deferred income 340,114 67,999 224,742 9,000
Amounts due to subsidiary -
567,963		 -
422,523		 100,759
325,501		 76,690
94,533

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Annual Report 2020-2021 37

Brought
Forward
Income
Expenditure
31 March
2021
Unrestricted funds
£
£
£
£
General funds
112,722
1,230,585
(768,757)
556,550
Restricted funds
Adint
-
5,000
-
5,000
Barclays UK Year 2 contract
-
100,000
(100,000)
-
Barclays 100x100
-
100,000
(100,000)
-
CLLD
-
20,500
(20,500)
-
Corra Wellbeing Foundation
-
89,640
(89,640)
-
Diageo Northern Ireland
-
118,763
(37,389)
81,374
Diageo UK L4L Year 3
-
448,671
(448,671)
DM Thomas Foundation
-
18,490
(18,490)
-
Heathrow in Community
-
7,500
(7,500)
-
Hilton Effect foundation
-
18,277
(18,277)
-
Inspire Hounslow
-
13,362
(13,362)
-
Lord Forte Foundation 2
-
4,000
-
4,000
Moondance
-
30,322
(30,322)
-
Garfeld Weston
-
50,000
(50,000)
-
Gannochy
-
8,250
(8,250)
-
National Lottery Wales
-
92,621
(92,621)
-
Rayne trust
-
20,000
(20,000)
-
Robertson Trust
-
13,500
(13,500)
-
Savoy Educational Trust
-
50,961
(50,961)
-
Skills Development Scotland (SDS)
-
111,920
(111,920)
-
Skills Development Scotland Tourism
Grant
-
14,500
(14,500)
-
Solidarity Accor
-
15,444
(7,944)
7,500
Springford Trust
-
25,000
(25,000)
-
St James Place Foundation
-
25,000
(25,000)
-
Peter Cruddas
-
6,100
(6,100)
-
The Gerald and Gail Ronson Family
Foundation
-
5,000
(5,000)
-
Tomoro Foundation
-
20,000
(20,000)
-
William A Cadbury
-
15,000
(15,000)
-
Worshipful Company of Cooks
-
56,000
(56,000)
-
Worshipful Company of Innholders
-
11,000
(11,000)
-
Restricted funds
-
1,480,820
(1,382,946)
97,874
Total funds
112,722
2,711,405
(2,169,703)
654,424
12. STATEMENT OF FUNDS – 2021		 Brought
Forward
Income
Expenditure
31 March
2020
12. STATEMENT OF FUNDS – 2020
Unrestricted funds
£
£
£
£
General funds
235,585
1,556,651
(1,679,514)
112,722
Restricted funds
29 May 1961 Charitable Trust
-
5,000
(5,000)
-
Adint
-
5,000
(5,000)
-
Barclays 1
-
8,000
(8,000)
-
Barclays 2
-
176,000
(176,000)
-
Barclays Connect to Work
214,400
-
(214,400)
-
Castansa Trust
-
8,000
(8,000)
-
Causeway Coast & Glens Borough Council
-
4,800
(4,800)
-
Challenge Fund 2
-
10,286
(10,286)
-
Derbyshire EBP
-
560
(560)
-
Diageo
-
4,500
(4,500)
-
Diageo 1
-
44,000
(44,000)
-
Diageo 2
-
462,590
(462,590)
-
Diageo Refugee Pilot
-
10,000
(10,000)
-
DM Thomas Foundation
-
24,000
(24,000)
-
Edinburgh JCP
-
9,963
(9,963)
-
Havering Council
-
3,208
(3,208)
-
Inspire Hounslow
-
22,794
(22,794)
-
Jabbs Foundation (Anawim)
-
29,700
(29,700)
-
Kensington & Chelsea Foundation
-
23,000
(23,000)
-
Lambeth Council
-
5,971
(5,971)
-
Lord Forte Foundation 1
-
7,000
(7,000)
-
Lord Forte Foundation 2
-
4,000
(4,000)
-
Skills Development Scotland
-
3,431
(3,431)
-
Nisbet Foundation
-
10,000
(10,000)
-
North Lanarkshire Council
-
42,228
(42,228)
-
Perth & Kinross Council
-
15,500
(15,500)
-
Plymouth Council/Careers & Enterprise
Co
-
30,000
(30,000)
-
The Gerald and Gail Ronson Family
Foundation
-
61,442
(61,442)
-
Skills Development Scotland (SDS) 1
-
78,000
(78,000)
-
SDS 2
-
30,000
(30,000)
-
Solidarity Accor
-
8,725
(8,725)
-
Springford Trust
-
10,000
(10,000)
-
St James' Place Foundation
-
50,000
(50,000)
-
The Gerald and Gail Ronson Family
Foundation
-
5,000
(5,000)
-
The Holywood Trust
-
8,000
(8,000)
-
Tomoro Foundation
-
10,000
(10,000)
-
Ulster Garden Villages
-
2,000
(2,000)
-
Worshipful Company of Cooks
-
28,500
(28,500)
-
Worshipful Company of Cooks
-
6,000
(6,000)
-
Worshipful Company of Innholders
25,000
9,000
(34,000)
-
Restricted funds
239,400
1,276,198
(1,515,598)
-
Total funds
474,985
2,832,849
(3,195,112)
112,722

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39

12. STATEMENT OF FUNDS (continued)

The General funds represent the free funds of the charity which have not been designated for particular purposes.

The restricted funds represent monies received for particular projects/purposes which meet the Charitable objects of helping the young, the unemployed and the disadvantaged. The funds can be summarised as follows:

Restricted funds Project/Purpose Project/Purpose
Adint Hospitality Futures Birmingham
Access to industry Donation to support programme in Polmont Prison
Barclays Connect to Work Funding to support unemployed people into work
Belfast City Council Grant to support Careers activity in Northern Ireland
Castansa Trust Grant to support Let’s Cook in Dumfries Prison
CLLD Cornwall Project
Corra Wellbeing COVID-related wellbeing in Scotland- including staff PPE and digital
Foundation
Diageo Northern Ireland Delivery of Learning for Life in Northern Ireland
Diageo Deferred from Delivery of Learning for Life Programme in GB
year 2
DM Thomas Foundation Grant to support Galvin's Chance - an Into Work programme aimed at young disadvantaged
people in deprived London communities exposed to gang culture and gun and knife crime. The
programme is aimed at helping young people make different choices in life, provide them with
new skills, motivation and a desire to pursue a career in the industry following supported work
experience.
Falkirk Council Grant to support Skills Academy IWiSH Programme in Falkirk
Garfeld Weston Grant to support KickStart Programme
Gannochy Delivering careers activities in schools
Havering Council Grant to support employability programmes in Havering
Heathrow Community Grant to support Hospitality Futures Programme in Heathrow
Fund
Inspire Hounslow Grant to support employability programmes in Hounslow
Impetus PEF Grant to support development of Employability framework & capacity building
Lord Forte Foundation Grant to support the KickStart Programmes and GEMS student mentoring Programmes
Moondance Diageo Digital Academy

Restricted funds Project/Purpose National Lottery Wales Grant to support the Digital Academy programme in Wales Perth & Kinross Council Grant to support IWiSH Programme in Perth PM Trust Donation to support KickStart Programme and mentoring in London Rayne trust Grant to support Digital Hospitality Academy UK-wide Skills Development Scotland – SDS Grant from the SOS Employability Fund to deliver a series of training programmes and (i) work placements for young unemployed people. Skills development Scotland SDS Grant to deliver a range of activities to support Skills Strategy. - (ii) Scottish Challenge Fund - ESF Grant to support Unemployed people into employment (matched with Diageo Learning for Life Solidarity Accor Foundation Grant to support young disadvantaged people between the ages of 18 to 24 years old. Two five-week Hospitality Futures training programme to encompass classroom, tasters and a 2 week work placements in London and Birmingham. Springford Foundation Grant to support employability programmes St James’s Place Foundation Grant to support Hospitality Futures Programmes in London The 29th May 1961 Charitable Trust Grant to support Birmingham KickStart your Career The Holywood Trust Grant to support Let’s Cook Programme The Jabbs Foundation Grant to support Kitchen Skills partnership with Anawin in Birmingham The Nisbet Trust Grant to support FutureChef in Bristol The Savoy Educational Trust Grant to support the FutureChef educational Programme The Savoy Educational Trust Grant to Support the GEMS mentoring, speaker programme and placement opportunities to hospitality undergraduates Tomoro Foundation Grant to support the FutureChef Programme Trust Employability Services Grant to support delivery of IWiSH Programme Worshipful Company of Cooks Grants to support the development of the FutureChef Programme Worshipful Company of Cooks Grant to support FutureChef in Northern Ireland Worshipful Company of Innholders Grants to support the development and delivery of KickStart and GEMS programmes

40 The Springboard Charity & Springboard UK Ltd

Annual Report 2020-2021 41

13. ANALYSIS OF GROUP NET ASSETS
BETWEEN FUNDS		 Restricted
Funds		 Unrestricted
Funds		 Total Funds
£ £ £
Fixed assets - 41,887 41,887
Intangible fxed assets - 77,808 77,808
Current assets 97,874 1,004,818 1,102,691
Liabilities (567,963) (567,963)
Total net assets
PRIOR YEAR
Fixed assets
Intangible fxed assets
Current assets
Liabilities
Total net assets		 97,874
-
-
-
-
-		 556,550
55,136
75,524
482,847
(440,029)
173,478		 654,424
55,136
75,524
482,847
(440,029)
173,478

14. COMMITMENTS UNDER OPERATING LEASES

As at 31 March 2021 the company and group had future minimum lease payments under non-cancellable operating leases as follows:

Other Other Land and buildings
2021 2020 2021 2020
Minimum lease rentals falling due in: -
Less than one year 22,999 32,742 46,799 47,817
Between two to fve years 51,613 72,382 153,039 243,250
Five or more years - 169 -
74,612 105,293 199,838 291,067

15. RELATED PARTY TRANSACTIONS

Donations made by trustees (and their related parties) and key management personnel to the charitable company in the year totalled £225,000 (2020: £281,518).

16. PRIOR YEAR COMPARATIVE SOFA Notes Unrestricted
funds		 Restricted
funds		 2020
Total
Income from: £ £ £
Donations and legacies - 1,020,635 1,020,635
Other trading activities 3 1,556,651 - 1,556,651
Charitable activities - 255,563 255,563
Total Income
Expenditure on:
Raising funds:
Trading Expenses
Fundraising Activity Costs
Charitable Activities:
Youth Education
Youth Advancement
Employment Programmes
Total Expenditure
Net (expenditure)/income and movement
in funds
Total funds brought forward at 1 April 2019
Total funds carried forward at
31 March 2020		 3
5
12		 1,556,651
704,644
89,003
288,762
172,268
424,837
1,679,514
(122,863)
235,585
112,722		 1,276,198
-
138,369
448,929
267,819
660,480
1,515,597
(239,400)
239,400
-		 2,832,849
704,644
227,372
737,691
440,087
1,085,317
3,195,111
(362,263)
474,985
112,722

Leases in place for land and buildings are jointly held by the company and its parent charitable company, The Springboard Charity.

Total lease rentals in the year were £62,967 (2020: £77,231).

42 The Springboard Charity & Springboard UK Ltd

Annual Report 2020-2021 43

Reference and administrative details

Trustees

The Trustees serving during the year and since the year end were:

A Storey OBE (chair)

A Zarraga (vice chair) E Grell S Haley K Harriman A Kemp – appointed 18 May 2020 A Richards – appointed 10 June 2020 S Sergeant – appointed 15 April 2020

R Silk

I Springford

F E J G Brackenbury CBE - resigned 18 May 2020

P Galvin – resigned 19 May 2020

M Johnson – resigned 3 July 2020 M Dimitrova - resigned 28 May 2020 N Mahony - resigned 28 May 2020 D Noble - resigned 28 May 2020

The number of Trustees shall not be less than 3 and not exceed 12. The Trustees, who are also directors of the Charity for the purposes of the Companies Act, are appointed by the Board of Trustees, following recommendations from the Governance Committee.

During the year, there was a major restructure of the Board of Trustees following an extensive review of the Governance of the Charity, resulting in the formation of a new smaller board of 10 Trustees who collectively satisfy the required skills and diversity mix.

Chief Executive

Chief Executive A Pierce MBE (until 31 August 2020) C Gamm (from 25 August 2020) Secretary P Holmes (resigned 19 May 2020) S Sergeant (from 8 June 2020)

Principal & Registered Coopers’ Hall, 13 Devonshire Square, London, EC2M 4TH Office

Company Number 3031621 Charity Number 1045411 (England and Wales) SC040506 (Scotland)

Independent Auditor Buzzacott LLP, 130 Wood Street, London, EC2V 6DL Solicitors Dentons UKMEA LLP, The Pinnacle, 170 Midsummer, Boulevard, Milton Keynes, MK9 1FE

Bankers NatWest Bank Plc, Commercial Banking Centre, 3rd Floor, Citylink House, 4 Addiscombe Road, Croydon, Surrey, CR0 5TT

44 The Springboard Charity & Springboard UK Ltd

Annual Report 2020-2021 45

The Springboard Charity & Springboard UK Ltd Coopers’ Hall, 13 Devonshire Square, London, EC2M 4TH

P: 020 7921 420

E: info@springboarduk.org.uk

W: springboard.uk.net

Registered Charity Number: 1045411 (England & Wales) SC040506 (Scotland) Registered Company Number: 3031621