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← The Springboard Charity

2025-03-31-accounts

THE SPRINGBOARD CHARITY Springboard CHARITY Annual Report Forthe ear ended 31 March2025 Charity Number . lo45￿7 and SCO4(￿￿ Compary Registration NumtH: 03031621

THE SPRINGBOARD CHARITY

THE SPRINGBOARD CHARITY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Charity Number : 1045411 and SC040506 Company Registration Number: 02502511

THE SPRINGBOARD CHARITY

DIRECTORS REPORT

ABOUT SPRINGBOARD

Contents PAGE
Reference and administrative details 1
Report of the Trustees
About springboard 2
Strategic report 4
Report of the Trustees 6
Independent Auditor’s Report 22
Consolidated Statement of Financial Activities 27
Consolidated and Charity Balance Sheets 28
Consolidated Cash Flow Statement 29
Notes to the Financial Statements 30

1

THE SPRINGBOARD CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

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

Allister Richards (chair – appointed 19 March 2025) Alastair Storey (chair – resigned 19 March 2025) Tim Adams (appointed 25 November 2024) Jennifer Earland Sean Haley (resigned 16 December 2024) Kay Harriman Andy Kemp (resigned 16 December 2024) Kate Nicholls Philip Richardson (appointed 20 May 2024) Gareth Sharpe Michael Taylor Alex Wilson Aisling Zarraga

The number of Trustees shall not be less than 3. 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.

Chief Executive Chris Gamm Secretary Gareth Sharpe Principal & Registered Office Coopers’ Hall, 13 Devonshire Square, London, EC2M 4TH Company Number 3031621 Charity Number 1045411 (England and Wales) SC040506 (Scotland) Independent Auditor Buzzacott Audit LLP, 130 Wood Street, London, EC2V 6DL Solicitor Dentons UKMEA LLP, The Pinnacle, 170 Midsummer Boulevard, Milton Keynes, MK9 1FE Banker NatWest Bank Plc, 250 Bishopgate, London, EC2M 4AA

1

THE SPRINGBOARD CHARITY

ABOUT SPRINGBOARD

Our mission

Springboard exists to change lives and unlock potential through careers in hospitality and tourism. We empower people of all ages, particularly those facing disadvantage, with the confidence, skills and opportunities to start and sustain rewarding careers. At the same time, we help the industry to build its future talent pipeline.

Key achievements

During the last 12 months, Springboard has:

Success story – Tayana King-Wagner

Tyana overcame significant barriers to employment, lacking confidence and experience in hospitality. Through Springboard’s training and mentoring, she gained valuable skills, secured a reception role at the prestigious Royal Lancaster London and was quickly interviewed for a promotion, demonstrating the transformative impact of our programmes.

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THE SPRINGBOARD CHARITY

ABOUT SPRINGBOARD

Our structure

Springboard comprises two interdependent organisations – The Springboard Charity and Springboard UK – that work together to achieve our shared vision of promoting careers in hospitality and supporting people into employment.

The Springboard Charity

Springboard UK

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.

Who we work with

Springboard supports a diverse range of individuals through targeted programmes. Our beneficiaries fall into three main groups:

3

THE SPRINGBOARD CHARITY

STRATEGIC REPORT

Chair’s review

It is a privilege to present my first chair’s review in this year’s annual report, having recently taken on the role from my predecessor, Alastair Storey. I would like to express my sincere gratitude to Alastair for his extraordinary leadership and longstanding dedication to Springboard. His legacy is evident in the scale and quality of the charity’s work today.

Taking on the role of chair at this exciting time for Springboard is an honour. The launch of our ambitious new five-year strategy - to deliver one million new hospitality skills by 2030 - marks a pivotal moment. This bold vision reflects our continued commitment to supporting the hospitality industry through skills development, education and employment.

Over the past year, Springboard has once again made a profound difference. From school classrooms to training kitchens, and from careers fairs to workplace inductions, we have seen lives transformed. Thousands of individuals, many facing barriers to employment, have found new hope and fresh opportunities through the hospitality sector, thanks to Springboard’s support.

This has only been possible because of the exceptional team behind Springboard. I have been deeply impressed by their passion, agility and professionalism. I would also like to thank my fellow trustees, our patrons and partners, and all those who have supported Springboard’s mission. Your contributions, whether through funding, volunteering or simply spreading the word, have been instrumental in helping us deliver lasting change.

As we look to the future, the scale of the challenge is matched only by our determination. With your ongoing support, I am confident Springboard will continue to play a vital role in the growth and resilience of the hospitality industry and in the lives of so many who are looking for a chance to thrive.

Allister Richards

Chair, Springboard

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THE SPRINGBOARD CHARITY

STRATEGIC REPORT

CEO’s review

Earlier this year, I had the immense privilege of attending a reception at Buckingham Palace alongside two Springboard trainees to celebrate those making a difference in education, training and skills. Standing in this historic setting and hearing our trainees share their journeys reminded me just how powerful Springboard’s work can be.

Last year, Springboard trained 2,765 individuals facing barriers to employment and helped 5,340 people secure jobs in hospitality and tourism through our employability training, careers & education programmes and digital activity. Behind each of these numbers is a life changed - people like Catrina, who found confidence and purpose after graduating from our Diageo Learning for Life programme, or Kyle, who turned a difficult start in Life into a fulfilling hospitality career thanks to Springboard’s support. You can read their inspiring stories in this report.

We also inspired nearly 23,000 young people to consider hospitality as a career, through our school engagement work, FutureChef, Takeover Days, and the efforts of our 2,371 Springboard Ambassadors. Meanwhile, nearly 127,000 individuals accessed information and guidance via CareerScope, including resources, vacancies and training opportunities.

This year saw the launch of Springboard’s new five-year strategy to deliver one million new hospitality skills by 2030. It’s an ambitious goal, but one we are confident we can meet by expanding our training, strengthening our partnerships and continuing to showcase hospitality as a vibrant and rewarding career path.

Of course, none of this would be possible without the people behind the mission. I want to thank our outgoing chair, Alastair Storey, for his support, generosity, and unwavering belief in Springboard. I also warmly welcome our new chair, Allister Richards, whose leadership and experience will be invaluable as we enter this next chapter.

To our partners, patrons, ambassadors, supporters and, most importantly, our team: a huge thank you also. Your time, trust and commitment have helped us create opportunities and deliver real impact.

The hospitality industry continues to face challenges, from labour shortages to economic uncertainty. But we remain optimistic. Every time a Springboard trainee walks into their first shift with pride and purpose, we’re reminded why we do what we do. Together, we can continue to transform lives and secure a thriving future for hospitality.

Chris Gamm

Chief executive officer, Springboard

5

THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Activity review

Employability training

Springboard supports individuals facing barriers to employment through tailored programmes that build confidence, develop practical hospitality skills and provide direct access to job opportunities. Courses include:

Our Into Work programmes, delivered with the support of partners including Diageo, Barclays, Savoy Educational Trust and others, equip unemployed people with the skills and confidence to start meaningful careers in hospitality.

In the last year alone:

These outcomes demonstrate the lasting impact of our work, both for individuals and for the future of the industry.

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Careers & education programmes

We inspire the next generation to see hospitality as an aspirational and rewarding career choice. Our education programmes are designed to spark interest, build skills, and connect young people with realworld opportunities. Delivered in schools, colleges and universities across the UK, these initiatives are helping to shape the future workforce of the hospitality industry.

Key programmes include:

Careers & advice

We offer expert careers information, advice, and guidance to young people, adults and key influencers, promoting the range of opportunities available in hospitality and helping individuals take their first step into the sector.

Key programmes include:

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Our impact

Over the past 12 months, Springboard has made a significant impact in building and sustaining a strong, skilled workforce for the hospitality industry. Here’s how we’ve helped shape the future of the sector:

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Success stories

Kyle Steward – From adversity to aspiration at The Waldorf Hilton

Kyle’s early life was marked by significant challenges, but his determination led him to Springboard. Starting as a doorman at The Waldorf Hilton in London, Kyle embraced every opportunity, progressing to roles in the bar and supporting the concierge team. His adaptability and eagerness to learn exemplify the resilience and dedication that Springboard nurtures in its trainees.

Andrew Bennett – Aligning ambitions with opportunities

After exploring various employment avenues without success, Andrew discovered a strong connection with Springboard’s course. The programme’s high standards and professional approach resonated with him, providing in-depth learning and valuable industry exposure, including visits to venues like ACC Liverpool. This experience equipped Andrew with the

skills and confidence to pursue a fulfilling career in hospitality.

Abbie Stokes – Brewing confidence as a barista

Facing personal hardships, Abbie found a supportive community through Springboard’s programmes. The guaranteed interview scheme allowed her to apply her new skills, leading to a part-time role as a barista. This position not only provided employment but also a platform to connect with people daily, bringing positivity to her workplace and rebuilding her confidence

Catrina McGregor – Rebuilding confidence through Learning for Life

At just 22, Catrina faced immense personal challenges. Through the Learning for Life programme, in partnership with Diageo, she found a pathway to rebuild her confidence and skills. Her dedication and transformation A { were recognized as she was shortlisted for the Fiona Colley Trainee of the Year Award, highlighting the profound impact of targeted support and mentorship.

Owen Hicks – Embracing independence with support

Owen’s journey with Springboard began with the Cardiff Summer School Programme. An industry visit to Bill’s restaurant in Cardiff Bay led to a paid position, where the team adapted the onboarding process to support his needs. Owen’s enthusiasm and personality shone through, and with ongoing support, he continues to grow in his role, exemplifying the inclusive opportunities Springboard fosters.

Nadia – Transforming Creativity into a Hospitality Career

Nadia, a creative individual from outside the UK, faced barriers to employment due to cultural differences and limited industry experience. Through Springboard’s programme, she gained confidence, discovered how her creativity could thrive in hospitality, and inspired her peers. She soon secured a role at Box Brindley Place, proving the power of support in unlocking potential.

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Our patrons and supporters

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

Life patrons

Patrons

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Our patrons and supporters (continued)

Patrons (continued)

Lead partners

Funding partners

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Our patrons and supporters (continued)

Funding partners (continued)

Supporting partners

Corporate partners

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Our patrons and supporters (continued)

Business partners

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

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 2025. 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 and the Accounting and Reporting by Charities: Statement of Recommended Practice.

Objectives, activities and future plans

The charity’s objects contained in the 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.

As part of an ambitious new five-year strategy, Springboard aims to deliver 1 million new hospitality skills by 2030, creating opportunities for individuals while strengthening the industry workforce. Through a combination of employability training, industry-specific skills and hands-on experience, Springboard will equip people with the confidence, knowledge and practical abilities needed to thrive in hospitality careers.

At the same time, it will provide businesses with a job-ready, skilled workforce, helping to address skills shortages, improve staff retention and boost productivity. With 200,000 skills delivered each year through employability courses, careers and education programmes and the CareerScope hub, we will build a sustainable talent pipeline, ensuring business have trained, motivated, capable staff entering the workforce.

Annual impact breakdown:

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.

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REPORT OF THE TRUSTEES

THE SPRINGBOARD CHARITY

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 2019), and the charity’s governing document.

Total income for the year was £3,690,292 (2024: £3,779,598) and total expenditure was £3,499,376 (2024: £3,655,516) giving a net surplus of £190,916 (2024: £124,082).

Net assets totalled £1,756,653 (2024: £1,565,737) with net current assets of £1,614,680 (2024: £1,394,898). The liquid cash balance (accessible within one year) was £2,377,074 (2024: £2,029,696).

Fundraising approach

An objective of the year was to build a balanced portfolio of income streams that raised sufficient income to deliver our ambitious goals, while achieving the strategic goal of building cash reserves to six months’ worth of operating costs.

Trusts & foundations committed to supporting education and employment work represent a major source of funding, worth £1.27m, overseen by an in-house fundraising team and senior leadership team. Business & corporate partnerships represent the other major funding source at £1.74m. This includes partnerships with industry employers, corporate partnerships with the likes of Diageo and Barclays. This is led by the business development team and senior leadership team. Public funding (£94k) includes local authority & government funding. Events & sponsorship (£378k) is led by the marketing & events team and supported by the fundraising committee. Individual giving (£150k) is made up of donations from patrons, hospitality professionals and fundraising at third party events. Other income includes rent and interest income which worth (£52k).

We process all donations, fundraising appeal responses and partnerships in house and continually update our income processes to ensure maximum security, efficiency and accuracy. No professional fundraisers were used and no fundraising complaints were received. 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 Ambassador network to 2,371 volunteers, 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

The charity holds unrestricted reserves to ensure we can continue to operate in the event of any unforeseen and significant decrease in income. The board of trustees’ policy with regards to unrestricted reserves has been set to six months of projected operating expenditure by 2030, which is approximately £1.7m. At 31 March 2025, we held £1,270,039 (2024: £1,056,188) in free reserves, being unrestricted reserves less fixed assets.

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 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.

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

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 since 1 April 2024 are:

Trustee recruitment, appointment and induction

The number of trustees shall not be less than three. Trustees 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, which is reviewed annually. Appointments are made for a term of three years, renewable twice. 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 and an annual board effectiveness survey.

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

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 sub-committees are:

Finance & resources committee

Governance committee

Fundraising committee

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Structure, governance and management (continued)

Sub-committees (continued)

Marketing & PR committee

The finance & resources committee meet eight times per year, the fundraising and marketing & PR committees meet quarterly and the governance committee meets twice per year.

In addition, steering groups covering employability and careers & education meet quarterly to support Springboard’s aims and strategy and comprise industry employers, specialists and influencers.

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:

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Structure, governance and management (continued)

Trustee responsibilities (continued)

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:

Risk management

The executive team and governance committee are responsible for the group’s risk register, which is reviewed quarterly 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 development of systems and procedures to mitigate those risks should they arise.

In May 2025, the register was updated by the governance committee, with changes approved by the trustees. Areas with the highest risk scores include economic climate impacting donations, sponsorship and business partnerships; adverse publicity; rising costs impacting cashflow; adequate levels of trainee referrals; cyber attack; and employment issues. Preventive actions and safeguards were updated for all risk areas and include the following:

Economic climate impacts fundraising

Adverse publicity

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Structure, governance and management (continued)

Risk management (continued)

Rising costs impacts cashflow and profitability of projects

Adequate level of trainee referrals

Cyber attack

Employment issues

Equity, diversity and inclusion

Springboard is committed to cultivating the fullness of equity diversity and inclusion among its workforce. We aim to have a team who live and breathe our values and feel proud to work for the organisation. In providing services and facilities, we are also committed against unlawful discrimination of internal and external stakeholders. The aim is for our workforce to be truly representative of all sections of society and our customers and for each employee to feel respected and able to give their best.

Our equity, diversity and inclusion strategy is owned by a working group comprising team members across the organisation. Its purpose is:

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THE SPRINGBOARD CHARITY

REPORT OF THE TRUSTEES

Structure, governance and management (continued)

Equity, diversity and inclusion (continued)

Its objectives cover three main areas:

Over the past 12 months, Springboard’s EDI working group has been actively involved in promoting diversity and inclusion within our charity. It celebrated events such as International Women's Day, Pride Month, National Inclusion Week and International Day for the Elimination of Racial Discrimination.

Additionally, we conducted meditation sessions led by the mental health first aiders group, reviewed job adverts for inclusivity, explored new recruitment channels, emphasised becoming an age-friendly employer, raised awareness about menopause in the workplace through training sessions and delivered a pronouns awareness session.

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 June 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 26/09/2025 and signed on their behalf by:

Chair of trustees Allister Richards

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INDEPENDENT AUDITOR’S REPORT

THE SPRINGBOARD CHARITY

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 2025 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.

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INDEPENDENT AUDITOR’S REPORT

THE SPRINGBOARD CHARITY

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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INDEPENDENT AUDITOR’S REPORT

THE SPRINGBOARD CHARITY

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:

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INDEPENDENT AUDITOR’S REPORT

THE SPRINGBOARD CHARITY

Auditor’s responsibilities for the audit of the financial statements (continued)

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 noncompliance. 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.

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THE SPRINGBOARD CHARITY

INDEPENDENT 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.

Hugh Swainson (Senior Statutory Auditor)

For and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street

London EC2V 6DL

Date: 26 September 2025

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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THE SPRINGBOARD CHARITY

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME & EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 202 5

Unrestricted Restricted 2025 2024
Notes
Funds		 Fund Total Total
£ £ £ £
Income from:
Donations and legacies 4 172,958 2,699,742 2,872,700 2,664,399
Other trading activities 4 671,430 - 671,430 910,942
Charitable activities 4 - 94,224 94,224 177,687
Investment income 51,938 - 51,938 26,570
------------------ ------------------ ------------------ ------------------
Total Income 896,326 2,793,966 3,690,292 3,779,598
------------------ ------------------ ------------------ ------------------
Expenditure on:
Raising funds:
Trading Expenses 5 580,644 - 580,644 529,643
Fundraising Activity Costs 5 14,017 216,213 230,230 250,521
Charitable Activities:
Youth Education 5 - 346,116 346,116 344,328
Youth Advancement 5 - 341,502 341,502 341,002
Employment Programmes 5 116,678 1,884,206 2,000,884 2,190,022
------------------ ------------------ ------------------ ------------------
Total Expenditure 711,339 2,788,037 3,499,376 3,655,516
------------------ ------------------ ------------------ ------------------
Net income and movement in funds 184,987 5,929 190,916 124,082
Total funds brought forward at
1 April 2024 1,227,027 338,710 1,565,737 1,441,655
--------------------- --------------------- ------------------ ------------------
Total funds carried forward at
31 March 2025 12 1,412,014 344,639 1,756,653 1,565,737
========= ========= ========= ========

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

The notes on pages 30 to 43 form part of these financial statements.

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THE SPRINGBOARD CHARITY

Company Number: 03031621

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31 MARCH 20 25

Group Group Charity Charity
Notes 2025 2024 2025 2024
£ £ £ £
FIXED ASSETS
Tangible assets 8 33,978 44,027 - -
Intangible fixed assets 9 107,995 126,812 - -
------------------ ------------------ ------------------ ------------------
141,973 170,839 - -
CURRENT ASSETS
Debtors 10 240,659 315,250 94,404 238,702
Short term deposits 900,000 900,000 900,000 900,000
Cash at bank 1,477,074 1,129,696 1,415,273 876,616
------------------ ------------------ ------------------ ------------------
2,617,733 2,344,946 2,409,677 2,015,318
CREDITORS: amounts falling due
within one year 11 (1,003,053) (950,048) (887,589) (621,029)
------------------ ------------------ ------------------ -------------------
NET CURRENT ASSETS 1,614,680 1,394,898 1,522,088 1,394,289
------------------ ------------------ ------------------ -------------------
NET ASSETS 1,756,653 1,565,737 1,522,088 1,394,289
======== ======== ======== ========
FUNDS
Restricted funds 344,639 338,710 344,639 338,710
Unrestricted Funds
. Tangible fixed assets fund 141,973 170,839 - -
. General funds 1,270,041 1,056,188 1,177,449 1,055,579
------------------ ------------------ ------------------ -------------------
12 1,756,653 1,565,737 1,522,088 1,394,289
======== ======== ======== ========

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

Date: 26/09/2025

Chairman

The notes on pages 30 to 43 form part of these financial statements.

28

THE SPRINGBOARD CHARITY

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 202 5

Cash flows from operating activities
Net income
Depreciation charge
Amortisation charge
Investment Income
Decrease in debtors
Increase in creditors
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of intangible fixed assets
Interest from short term deposit account
Withdrawal of short term deposits
Purchase of short term deposits
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
Analysis of changes in net debt
Cash
Total		 2025
£
£
190,916
14,701
56,131
(38,675)
74,591
53,005
------------------
350,669
(4,652)
(37,314)
38,675
900,000
(900,000)
------------------
(3,291)
------------------
347,378
1,129,696
------------------
1,477,074
=========
1,477,074
=========
1,477,074
At 1 April
2024
£
Cash
flows
£
1,129,696
347,378
1,129,696
347,378		 2025
£
£
190,916
14,701
56,131
(38,675)
74,591
53,005
------------------
350,669
(4,652)
(37,314)
38,675
900,000
(900,000)
------------------
(3,291)
------------------
347,378
1,129,696
------------------
1,477,074
=========
1,477,074
=========
1,477,074
At 1 April
2024
£
Cash
flows
£
1,129,696
347,378
1,129,696
347,378		 2024

£
£
124,082
19,890
48,764
(26,570)
25,128
114,589
---------------------
305,883
(16,137)
(37,296)
26,570
500,000
(900,000)
-------------------

(426,863)

-------------------

(120,980)

1,250,676

--------------------

1,129,696

=========

1,129,696

=========

1,129,696
Other
non-cash
changes
£
At 31
March
2025
£
-
1,477,074
-
1,477,074		 2024

£
£
124,082
19,890
48,764
(26,570)
25,128
114,589
---------------------
305,883
(16,137)
(37,296)
26,570
500,000
(900,000)
-------------------

(426,863)

-------------------

(120,980)

1,250,676

--------------------

1,129,696

=========

1,129,696

=========

1,129,696
Other
non-cash
changes
£
At 31
March
2025
£
-
1,477,074
-
1,477,074
1,129,696
347,378		 - 1,477,074
1,129,696
347,378		 - 1,477,074

The notes on pages 30 to 43 form part of these financial statements.

29

THE SPRINGBOARD CHARITY NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

1. 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. The financial statements are presenting in sterling and rounded to the nearest pound.

(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. The trustees and finance & resources committee continue to regularly review the financial forecast 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 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

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. Events income is received from the sale of entry tickets, raffle tickets and donations made via fundraising through each event. 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.

30

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

1. ACCOUNTING POLICIES (continued)

(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

The threshold for capitalization of fixed asset is £200. 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.

(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.

31

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

1. ACCOUNTING POLICIES (continued)

(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.

(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 £2,579,710 (2024: £2,789,287) and its result for the year was a surplus of £127,797 (2024: a surplus of £316,410).

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.

The critical key estimates or judgements are

32

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

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:

elow:
2025 2024
£ £
Turnover 1,229,141 1,303,081
Expenditure* (1,047,462) (1,182,640)
-------------------- --------------------
Profit for the year 181,679 120,441
Gift aid paid to The Springboard Charity (118,563) (312,769)
-------------------- --------------------
Profit (loss) for the year 63,116 (192,328)
Funds at beginning of year 171,450 363,778
-------------------- --------------------
Funds at end of year 234,566 171,450
========= ========
he assets and liabilities of the subsidiary were:
2025 2024
£ £
Tangible fixed assets 33,978 44,027
Intangible fixed assets 107,995 126,812
Current assets 413,133 351,620
Creditors: amounts falling due within one year (320,540) (351,009)
-------------------- --------------------
Net assets 234,566 171,450
========= =========

The assets and liabilities of the subsidiary were:

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

* During the year expenditure was met by Springboard UK Limited for The Springboard Charity. This was allocated to charitable expenditure based on staff time, facility usage and specific charitable project spends. The figure above represents the expenditure allocated to Springboard (UK) Limited for the year.

33

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

4. ANALYSIS OF INCOME

INCOME FROM DONATIONS AND LEGACIES

Unrestricted Restricted 2025 Unrestricted Restricted 2024
Group funds funds Total funds funds Total
£ £ £ £ £ £
Business Partnerships /Contract
-		 1,443,430 1,443,430 - 1,645,115 1,645,115
Trusts & Foundations 14,001 1,256,312 1,270,313 19,378 999,906 1,019,284
Gift Aid 8,840 - 8,840 14,212 - 14,212
Individual Giving 150,117 - 150,117 159,572 - 159,572
-------------------- -------------------- -------------------- ---------------------- ----------------- -----------------
172,958 2,699,742 2,872,700 193,162 2,645,021 2,838,183
========== ========== ========== ========== ========== ==========
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted Restricted 2025 Unrestricted Restricted 2024
Group funds funds Total funds funds Total
£ £ £ £ £ £
Business Partnerships/Contract
293,787		 - 293,787 265,342 - 265,342
Ticket Sales 64,910 - 64,910 110,982 - 110,982
Raffle/Auction Sales 57,874 - 57,874 25,818 - 25,818
Business Sponsorship 210,665 - 210,665 272,423 - 272,423
Corporate Patrons/ Adopt-a-
Charity 44,194 - 44,194 62,593 - 62,593
-------------------- -------------------- -------------------- ---------------------- ---------------------- ----------------------
671,430 - 671,430 737,158 - 737,158
========== ========== ========== ========== ========== ==========
INCOME FROM CHARITABLE INCOME
Unrestricted Restricted 2025 Unrestricted Restricted 2024
Group funds funds Total funds funds Total
£ £ £ £ £ £
Govt/Govt Agency/Local
Govt Contracts - 94,224 94,224 210 177,477 177,687
========== ========== ========== ========== ========== ==========
Investment income
Unrestricted Restricted 2025 Unrestricted Restricted 2024
Group funds funds Total funds funds Total
£ £ £ £ £ £
Rent Income 13,263 - 13,263 - - -
Interest income 38,675 - 38,675 26,570 - 26,570
-------------------- -------------------- -------------------- ---------------------- ---------------------- ----------------------
51,938 - 51,938 26,570 - 26,570
========== ========== ========== ========== ========== ==========

34

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

5. ANALYSIS OF TOTAL EXPENDITURE Support
Direct Costs 2025
Costs (Note 6) Total
£ £ £
Fundraising Activity Costs 216,213 14,017 230,230
Charitable activities
Youth Education 253,033 93,083 346,116
Youth Advancement 248,419 93,083 341,502
Employment Programmes 1,818,976 181,908 2,000,884
-------------------- -------------------- --------------------
Total for Charity 2,536,641 382,091 2,918,732
Trading costs of subsidiary* 395,811 184,833 580,644
-------------------- -------------------- --------------------
Total for Group 2,932,452 566,924 3,499,376
========== ========== ==========
Support
Direct Costs 2024
Costs (Note 6) Total
£ £ £
Fundraising Activity Costs 235,197 16,062 251,259
Charitable activities
Youth Education 261,157 87,175 348,332
Youth Advancement 257,831 87,176 345,007
Employment Programmes 1,841,788 178,157 2,019,945
-------------------- --------------------- ----------------------
Total for Charity 2,595,973 368,570 2,964,543
Trading costs of subsidiary 505,366 185,608 690,974
---------------------- --------------------- ----------------------
Total for Group 3,101,339 554,178 3,655,517
========== ========== ==========

*Included within the trading costs of the subsidiary in note 3 are costs related to Employment Programmes which are therefore analysed as charitable activities above.

35

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

6. SUPPORT COSTS

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

2025 2024
Total Total
£ £
Computer and IT costs 95,258 103,188
Finance and HR costs 285,851 255,200
General Office costs 168,489 178,860
Governance costs 17,326 16,930
---------------- ----------------
Total for Charity 566,924 554,178
======= =======
Group results for the year are stated after charging:
Depreciation and amortisation 70,832 68,654
Auditor’s Remuneration – statutory audit 17,326 16,929
Operating lease rentals 76,649 88,264
======= =======
7. STAFF COSTS 2025 2024
£ £
Wages and salaries 2,227,065 2,303,534
Social security costs 227,278 227,139
Other pension costs 63,613 67,619
Other Staff Costs 22,362 14,923
Restructuring costs 16,125 -
---------------------- ----------------------
2,556,443 2,613,215
========== ==========

The average monthly number of employees during the year was 62 (2024: 66).

The number of employees whose emoluments exceeded £60,000 were:

2025 2024
Number Number
£60,000 - £69,999 2 2
£70,000 – £79,999 - 1
£80,000 – £89,999 1 -
£90,000 – £99,999 - 1
£100,000 – £110,000 1 -
======== ==========

The key management include the Trustees, Chief Executive, Chief Operation Officer and Finance Director. Key management personnel remuneration including employers NI and pension for the year was £277,717 (2024: £268,532). No trustees were paid any remuneration or reimbursed expenses during the year (2024: £nil).

36

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

8. TANGIBLE FIXED ASSETS - Group
Furniture & Computers & Group
Fittings Equipment Total
£ £ £
COST
At 1 April 2024 2,004 103,437 105,441
Additions - 4,652 4,652
Disposals - - -
-------------------- -------------------- -------------------
At 31 March 2025 2,004 108,089 110,093
-------------------- -------------------- ------------------
DEPRECIATION
At 1 April 2024 2,004 59,410 61,414
Charge for the year - 14,701 14,701
Written back on disposals - - -
-------------------- -------------------- -------------------
At 31 March 2025 2,004 74,111 76,115
-------------------- -------------------- -------------------
NET BOOK VALUE
At 31 March 2025 - 33,978 33,978
========= ========= ========
At 31 March 2024 - 44,027 44,027
========= ========= =========
INTANGIBLE FIXED ASSETS - Group Website
development
costs
£
COST
At 1 April 2024 258,311
Additions 37,314
------------------
At 31 March 2025 295,625
------------------
AMORTISATION
At 1 April 2024 131,499
Charge for the year 56,131
------------------
At 31 March 2025 187,630
------------------
NET BOOK VALUE
At 31 March 2025 107,995
========
At 31 March 2024 126,812
========

9. INTANGIBLE FIXED ASSETS - Group

37

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

10. DEBTORS Group Charity
2025 2024 2025 2024
£ £ £ £
Trade debtors 161,963 61,091 35,622 6,184
Prepayments and accrued
income 78,696 254,159 58,782 210,528
Amount due from subsidiary - - - 21,990
------------------ ------------------ ------------------
 ------------------
240,659 315,250 94,404 238,702
======== ========
 ========= ==========
11. CREDITORS: amounts falling
due within one year Group Charity
2025 2024 2025 2024
£ £ £ £
Trade creditors 9,234 53,076 - -
Sundry creditors 18,697 20,163 2,804 2,804
Taxation and social security 149,202 127,665 13,618 36,984
Accruals and deferred
income 825,920 749,144 666,091 581,241
Amounts due to subsidiary - - 205,076 -
------------------ ------------------ ------------------
 ------------------
1,003,053 950,048 887,589 621,029
========= ========= ========= =========

38

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

OR THE YEAR ENDED 31 MARCH 202 5
12. STATEMENT OF FUNDS – 2025 Brought 31 March
Forward Income Expenditure 2025
Unrestricted funds £ £ £ £
General funds 1,227,027 896,326 (711,339) 1,412,014
-------------------- ------------------ ------------------ ------------------
Restricted funds
29th May 1961 4,000 6,000 (8,000) 2,000
Aiken Communication Ltd -Diageo Ireland — 13,660 (13,660) —
Annandale & Nithsdale Community Benefit Company 15,000 — (7,000) 8,000
Ards and North Down Council — 9,000 (9,000) —
Barclays UK Year 3 contract — 635,000 (635,000) —
Barclays New Contract — 92,000 (92,000) —
The Castansa Trust 4,000 8,000 (8,000) 4,000
CHK Foundation — 50,000 (29,000) 21,000
The Considered Ask Foundation 4,000 — (4,000) —
Diageo UK L4L — 650,422 (650,422) —
DM Thomas Foundation (Peter Cruddas) — 12,700 (4,700) 8,000
Fidelity Uk Foundation — 208 (208) —
Gallaher Trust — 34,642 (34,642) —
Gannochy Trust 3,750 — (3,750) —
Garfield Weston Foundation 41,666 50,000 (49,999) 41,667
The Gerald And Gail Ronson Foundation — 3,000 (3,000) —
Hilton UK foundation 121,674 170,250 (181,673) 110,251
The Holywood Trust 6,394 17,051 (19,445) 4,000
Huge Fraiser Foundation 5,000 5,000 (6,250) 3,750
Inspire Hounslow 4,044 28,039 (16,044) 16,039
London Freemasons Charity — 10,000 (5,000) 5,000
The Lord Forte Foundation — 10,000 (7,500) 2,500
Moondance Foundation — 17,202 (8,500) 8,702
N Power Business Solutions Foundation — 29,029 (14,500) 14,529
National Lottery Awards For All England — 16,000 (1,000) 15,000
National Lottery Community Fund Wales — 118,475 (84,674) 33,801
Newry, Mourne and Down Council — 5,828 (5,828) —
Niacro — 37,520 (37,520) —
Northern Ireland Tourisum Grant — 8,416 (8,416) —
The Nisbet Trust 5,000 — (5,000) —
Portal Trust 13,382 14,060 (21,642) 5,800
Savoy Educational Trust 50,000 500,000 (550,000) —
Savoy Educational Trust -FutureChef — 100,000 (100,000) —
Sheffield City Council — 59,808 (59,808) —
Skilled Development Scottish Tourism Grant — 10,000 (10,000) —
Solidarity Accor — 6,538 (6,538) —
St James's Place Charitable Foundation 17,800 35,600 (32,800) 20,600
Worshipful Company of Cooks 43,000 25,000 (48,000) 20,000
Worshipful Company of Innholders — 5,518 (5,518) —
----------------------------
------------------ ------------------ ------------------
Restricted funds 338,710 2,793,966 (2,788,037) 344,639
--------------------------- ---------------------------- -------------------------------- ---------------------------
Total funds 1,565,737 3,690,292 (3,499,376) 1,756,653
============ ============ ============= ===========

39

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

OR THE YEAR ENDED 31 MARCH 202 5
STATEMENT OF FUNDS – 2024 Brought 31 March
Forward Income Expenditure 2024
Unrestricted funds £ £ £ £
General funds 1,105,030 957,100 (835,103) 1,227,027
----------------- ----------------- ----------------- --------------------
Restricted funds
29th May 1961 — 6,000 (2,000) 4,000
A&N(Annandale&Nithsdale)-Foundation Scotland — 17,000 (2,000) 15,000
Barclays UK Year 2 contract 133,350 — (133,350) —
Barclays New Contract — 874,800 (874,800) —
Cadbury 7,500 — (7,500) —
Cardiff & Vale College — 1,140 (1,140) —
The Castansa Trust — 8,000 (4,000) 4,000
Charles Hayward 8,416 — (8,416) —
The Considered Ask — 5,000 (1,000) 4,000
Diageo GB — 4,000 (4,000) —
Diageo New 42,528 — (42,528) —
Diageo Northern Ireland — 20,000 (20,000) —
Diageo UK L4L — 746,315 (746,315) —
DM Thomas Foundation (Peter Cruddas) — 12,700 (12,700) —
DYW Tay Cities — 8,000 (8,000) —
Fidelity Uk Foundation — 105,770 (105,770) —
The Gannochy Trust 4,125 17,750 (18,125) 3,750
Garfield Weston 16,667 50,000 (25,001) 41,666
The Gerald And Gail Ronson Foundation — 5,000 (5,000) —
The Greater London Authority — 28,988 (28,988) —
Hilton UK foundation 48,750 129,749 (56,825) 121,674
The Holywood Trust — 12,788 (6,394) 6,394
Hugh Fraser 3,750 5,000 (3,750) 5,000
Ian Carter — 5,000 (5,000) —
Inspire Hounslow — 20,222 (16,178) 4,044
London Community Foundation — 74,925 (74,925) —
The Lord Forte Foundation 13,750 — (13,750) —
National Lottery Wales — 127,149 (127,149) —
NI Tourism Grant — 20,201 (20,201) —
Nisbet — 5,000 — 5,000
Peter Harrison 8,333 — (8,333) —
Portal Trust — 13,382 — 13,382
The Rayne Trust — 10,000 (10,000) —
The Robertson Trust 13,990 — (13,990) —
Savoy Educational Trust — 300,000 (250,000) 50,000
Savoy Educational Trust - FutureChef — 100,000 (100,000) —
Solidarity Accor — 10,019 (10,019) —
St James Place 23,733 35,600 (41,533) 17,800
Worshipful Company of Cooks — 43,000 — 43,000
Worshipful Company of Innholders 11,733 — (11,733) —
------------------------- ------------------------- ---------------------------- ------------------------
Restricted funds 336,625 2,822,498 (2,820,413) 338,710
------------------------ ------------------------ ---------------------------- ------------------------
Total funds 1,441,655 3,779,598 (3,655,516) 1,565,737
=========== =========== ============ ==========

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

40

THE SPRINGBOARD CHARITY NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

12. STATEMENT OF FUNDS (continued)

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

29th May 1961 Funding to support unemployed people into work in the Midlands Aiken Communication Ltd -Diageo Ireland Funding to support unemployed people into work Annandale & Nithsdale Foundation Funding for employability in Annandales & Nithsdale area Ards and North Down Council Delivering careers activities in schools Barclays Funding to support unemployed people into work in the hospitality industry The Castansa Trust Specialist employability training in partnership with HMP Dumfries. CHK Foundation Delivering careers activities in schools The Considered Ask Foundation Research into employability participants aged 50 years+ Funding to support unemployed people into work through delivery of Learning for Diageo Life programme DM Thomas Foundation(Peter Cruddas) Galvin's Chance programme- employability provision in London Fidelity UK Foundation Careerscope digital build The Gannochy Trust Delivering careers activities in schools Gallaher Trust Delivering employability services for adults in Ballymena Garfield Weston Foundation Funding for employability training The Gerald And Gail Ronson Family Foundation Foundation Funding FutueChef Hilton UK Foundation Funding for Careers & Education activities The Holywood Trust Specialist employability training in partnership with HMP Dumfries. Huge Fraser Foundation Careers & education delivery in Fife Inspire Hounslow Grant to support employability programme for young people in Hounslow London Freemasons Charity Delivering careers activities in schools, Southwark, Enfield, Kensington and Chelsea The Lord Forte Foundation Contribution towards Ambassadors volunteer programme Moondance Foundation Delivering Employabilty in Wales N Power Business Solutions Foundation Delivering Employabilty services in Brimingham and Leeds National Lottery Awards For All England Employability training in England National Lottery Community Fund Wales Employability training in Wales Newry, Mourne and Down Council Delivering careers activities in schools Niacro Delivering employability session in Magilligan prison Nisbet Trust FutureChef delivery in Bristol Northern Ireland Tourisum Hospitality careers recruitment and marketing Portal Trust Careers & education delivery in London Funding for Careers & education delivery, employability training and careers Savoy Educational Trust marketing Savoy Educational Trust - FutureChef Funding sponsorship of FutureChef Sheffield City Council Delivering employabilty services in Sheffield Skilled Development Scottish Tourism Grant Delivering careers acivity in Scotland Solidarity Accor Grant to support employability training provision St James Place Charitable Foundation Grant to deliver a range of activities to support employability in Manchester Worshipful Company of Cooks Grant to support FutureChef delivery and Summer School Worshipful Company of Innholders Grant to support Summer School

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THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

13. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

CURRENT YEAR Restricted Unrestricted Total
Funds Funds Funds
£ £ £
Fixed assets — 33,978 33,978
Intangible fixed assets — 107,995 107,995
Current assets 344,639 2,273,094 2,617,733
Liabilities — (1,003,053) (1,003,053)
---------------- ---------------- ----------------
Total net assets 344,639 1,412,014 1,756,653
========= ========= =========
PRIOR YEAR Restricted Unrestricted Total
Fund Funds Funds
£ £ £
Fixed assets - 44,027 44,027
Intangible fixed assets - 126,812 126,812
Current assets 338,710 2,006,236 2,344,946
Liabilities - (950,048) (950,048)
--------------------- -------------------- --------------------
Total net assets 338,710 1,227,027 1,565,737
========= ========= =========

14. COMMITMENTS UNDER OPERATING LEASES

As at 31 March 2025 the company and group had future minimum lease payments under noncancellable operating leases as follows:

Other Land and buildings Land and buildings
2025 2024 2025 2024
£ £ £ £
Minimum lease rentals falling due in:
Less than one year 16,612 23,632 54,675 55,038
Between two to five years 7,733 - 202,167 -
---------------- ---------------- ---------------- ----------------
24,345 23,632 256,842 55,038
======= ======= ======= =======

Total lease rentals in the year were £76,649 (2024: £88,264).

15 RELATED PARTY TRANSACTIONS

Donations made by trustees (and their related parties) and key management personnel to the charitable company in the year totalled £187,829 (2024: £227,989).

The Charity also made purchases of £3,919 (2024: £nil) from Bidfood, of whom A Kemp was the CEO.

42

THE SPRINGBOARD CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 202 5

17 PRIOR YEAR COMPARATIVE SOFA

Unrestricted Restricted 2024
Notes
Funds		 Fund Total
£ £ £
Income from:
Donations and legacies 4 19,378 2,645,021 2,664,399
Other trading activities 4 910,942 - 910,942
Charitable activities 4 210 177,477 177,687
Investment income 26,570 - 26,570
------------------ ------------------ ------------------
Total Income 957,100 2,822,498 3,779,598
--------------------- --------------------- ------------------
Expenditure on:
Raising funds:
Trading Expenses 5 529,643 - 529,643
Fundraising Activity Costs 5 100,208 150,313 250,521
Charitable Activities:
Youth Education 5 - 344,328 344,328
Youth Advancement 5 - 341,002 341,002
Employment Programmes 5 205,252 1,984,770 2,190,022
--------------------- --------------------- ------------------
Total Expenditure 835,103 2,820,413 3,655,516
--------------------- --------------------- ------------------
Net income and movement in funds 121,997 2,085 124,082
Total funds brought forward at1 April 2023 1,105,030 336,625 1,441,655
--------------------- --------------------- ------------------
Total funds carried forward at 31 March 2024 12 1,227,027 338,710 1,565,737
========= ========= =========

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