2021-03-31-accounts - The UK Career Academy Foundation

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Organisational	Number of
Element	Members	Key Roles &Responsibilities
Trustees	Seven	•	Ultimate responsibilityfordirecting theaffairs ofthe
			charity, and ensuringthat it is solvent, well-run,
			manages and assesses risks and is achieving its
			charitable status. Members drawnfrom business and
			education.
National	Thirteen	•	Meets threetimes ayear.
Advisory Board		•	Members drawn from supporting businesses,
			education, andthe Chief Executive Officer.
		•	Full governance calendar in operation.
		•	Reviews three-year strategic business plan.
		•	Identifies programme issues, lessons learned and
			feeds improvements into afluid development process.
		•	Issues are raised formally at Board Meetings.
		•	Individual members act as advocates forthe charity,
			help ensuresupport fromtheirown and other
			organisations and support events.
Finance	Seven	•	Meets everythree months.
Committee		•	Comprises all Trustees
		•	Trustees meet foradditional breakfasts.
		•	Supports development ofthree-yearstrategic
			business plan and annual budgets.
		•	Approves management accounts and short-term cash
			flow.
		•	Develops fundraising targets.
		•	Reviews Business Risk Management Matrix.

Organisational	Number of
Element	Members	Key Roles &Responsibilities
Scotland	Ten or	•	Meets threetimes a year.
Advisory Board	more	•	Comprises members drawn from businesses,
			education, government and other stakeholders in
			Scotland and the DirectorforScotland.
		•	Approves strategic business plan forScotland.
		•	Identifies programme issues, lessons learned and
			feeds improvements into a fluid development process.
		•	Individual members act as advocates forthe charity,
			helpensuresupportfromtheirown and other
			organisations and support events.
		•	Advises on and shares best practicefromwithin
			Scotland and ensures there is aforumfor regional
			representation.
		•	In 2019-20 the Chairmanwas invited to attend the
			NationalAdvisory Board.
Senior	Seven	•	Meets every month
Management		•	Develops strategic three-yearbusiness plan and
Team			annual business plan with detailed targets and
			objectives.
		•	Comprises Chief Executive Officer, Director For
			Scotland, Head of Operations & Engagement-
			Scotland, Chief Operating Officer, Directorof
			Programmes, Directorof Fundraising & Business
			Development & Head of Communications
		•	Career Ready has a flat management structure. The
			size ofthe SMT reflects different operations in
			Scotland and England.
		•	Matrix Responsibilities includefunctional responsibility
			for internal operations including financial control,
			programmes, fundraising and business development.
		•	Most have national account management
			responsibilities forbusiness supporters.
StaffTeam	47 staffat	•	Delivers programme activities.
	31 March	•	Prepares the budgets, LEO, cash flow forecasts, etc
	excluding 1		for review by the Finance Committee.
	contractor	•	Prepares Business Risk Management Matrix andthe
			'dashboard' performance review forconsideration.

22 November

		Unrestricted	Restricted	TOTAL	TOTAL
		Funds	Funds	2021	2020
	Notes	£	£	£	£
INCOME FROM:
Donations and legacies
- IFF transfer	3				935,919
Donations and legacies-other	4	849,154	1,205,985	2,055,139	2,107,399
Charitable activities:
Support given to educational bodies
to operate CareerAcademies	5	126,091	62,613	188,704	504,935
Investments	6	6,226		6,226	7,458
Other income	7	159,369		159,369
TOTAL		1,140,840	1,268,598	2,409,438	3,555,711
EXPENDITURE ON:
Raising funds	8	(251,504)		(251,504)	(268,787)
Charitable activities:
Support given to educational bodies
to operate CareerAcademies	9	(799,667)	(1,639,498)	(2,439,165)	(2,786,558)
TOTAL		(1,051,171)	(1,639,498)	(2,690,669)	(3,055,345)
NET INCOME		89,669	(370,900)	(281,231)	500,366
Transfer between funds	16
NET MOVEMENT IN FUNDS		89,668	(370,900)	(281,231)	500,366
RECONCILIATION OF FUNDS
Total funds brought forward
at 1 April 2020		879,224	502,611	1,381,835	881,469
TOTAL FUNDS CARRIED FORWARD
AT 31 MARCH 2021	16	968,893	131,711	1,100,604	1,381,835
		`-----------------------------` `-----------------------------`			------- -------

		Unrestricted	Restricted	TOTAL	TOTAL
		Funds	Funds	2020	2019
	Notes	£	£	£	£
INCOME FROM:
Donations and legacies
- IFF transfer	3	935,919		935,919
Donations and legacies-other	4	578,204	1,529,195	2,107,399	2,356,808
Charitable activities:
Support given to educational bodies
to operate CareerAcademies	5	137,758	367,177	504,935	454,787
Investments	6	7,458		7,458	1,434
TOTAL		1,659,339	1,896,372	3,555,711	2,813,029
EXPENDITURE ON:
Raising funds	8	(268,787)		(268,787)	(219,467)
Charitable activities:
Support given to educational bodies
to operate CareerAcademies	9	(697,691)	(2,088,867)	(2,786,558)	(2,563,886)
TOTAL		(966,478)	(2,088,867)	(3,055,345)	(2,783,353)
NET INCOME		692,861	(192,495)	500,366	29,676
Transfer between funds	16	(2,360)	2,360
NET MOVEMENT IN FUNDS		690,501	(190,135)	500,366	29,676
RECONCILIATION OF FUNDS
Total funds brought forward
at 1 April 2019		188,723	692,746	881,469	851,793
TOTAL FUNDS CARRIED FORWARD
AT 31 MARCH 2020	16	879,224	502,611	1,381,835	881,469
		`-----------------------------`			------- -------

		2021	2020
	Notes	£	£
FIXED ASSETS
Tangible assets	13	1,150	1,438
CURRENT ASSETS
Debtors	14	294,278	636,041
Cash at bank and in hand		1,121,789	1,110,183
		1,416,067	1,746,224
LIABILITIES
Creditors: Amounts falling due within one year	15	(316,613)	(365,827)
NET CURRENT ASSETS		1,099,454	1,380,397
TOTAL ASSETS LESS CURRENT LIABILITIES
& NET ASSETS		1,100,604	1,381,835
THE FUNDS OF THE CHARITY
Restricted income funds	16	131,711	502,611
Unrestricted income funds	16	968,893	879,224
TOTAL CHARITY FUNDS	17	1,100,604	1,381,835

		2021	2020
	Notes	£	£
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities	18	5,380	441,545
CASH FLOWS FROM INVESTING ACTIVITIES:
Dividends, interest, and rents from investments		6,226	7,458
Net cash provided by investing activities		6,226	7,458
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD		11,606	449,003
Cash and cash equivalents at the beginning ofthe
reporting period		1,110,183	661,180
CASH AND CASH EQUIVALENTS AT THE END
OF THE REPORTING PERIOD	19	1,121,789	1,11 O,183
		`========`	-------- --------

		Unrestricted	Restricted	Total	Total
		funds	funds	`2021`	`2020`
		£	£	£	£
	Donations from funders	662,319	1,205,985	1,868,304	1,955,078
	Donations in kind	186,835		186,835	152,321
		849,154	1,205,985	2,055,139	2,107,399
		`------------------------------`			-------
		`------------------------------`			-------
5.	INCOME FROM SUPPORT GIVEN	Unrestricted	Restricted	Total	Total
	TO EDUCATIONAL BODIES TO	funds	funds	`2021`	`2020`
	OPERATE CAREER ACADEMIES	£	£	£	£
	Schools and colleges	118,150		118,150	103,517
	Public sectorfunding		46,820	46,820	184,727
	Other supporters	7,941	15,793	23,734	216,691
		126,091	62,613	188,704	504,935
		`------------------------------` `------------------------------`			=======
6.	INVESTMENTS	Unrestricted	Restricted	Total	Total
		funds	funds	`2021`	`2020`
		£	£	£	£
	Bank interest receivable on
	short term cash deposits	6,226		6,226	7,458
		`------------------------------`			=======
			_UKCAF 2020/21 _		Annual Report

7.	OTHER INCOME	Unrestricted	Restricted	Total	Total
		funds	funds	`2021`	`2020`
		£	£	£	£
	Coronavirus Job Retention Scheme	159,369		159,369
		`------------------------------`			=======
8.	RAISING FUNDS	Unrestricted	Restricted	Total	Total
		funds	funds	`2021`	`2020`
		£	£	£	£
	Staffcosts (see note 10)	200,163		200,163	194,874
	Support costs (see note 11)	51,341		51,341	73,913
		251,504		251,504	268,787
					-------
		`------------------------------`			-------
9.	COSTS OF SUPPORT GIVEN	Unrestricted	Restricted	Total	Total
	TO EDUCATIONAL BODIES TO	funds	funds	`2021`	`2020`
	OPERATE CAREER ACADEMIES	£	£	£	£
	Direct costs:
	Student placements		481	481	164,571
	Student travel				5,832
	Grant funding provided				42,000
	Bursaries and awards	7,382	27,918	35,300	45,389
	Event costs	2,974	42,357	45,331	97,540
	Printing and publications	4,919	12,469	17,388	12,407
	Video production				3,961
	Marketing and public relations	1,901		1,901	9,385
	Subscriptions	2,146	(207)	1,939	2,190
	Travel and subsistence	314	353	667	79,721
	Staffwelfare				75
	Website and internet costs	92,621	46	92,667	118,425
	Bank charges	3,046		3,046	4,962
	Bad debt				9,044
	Indirect costs:
	Insurance	3,653		3,653	5,742
	Staffcosts (see note 10)	476,418	1,531,713	2,008,131	1,936,434
	Support costs (see note 11)	122,201	24,368	146,569	164,317
	Governance costs (see note 12)	82,092		82,092	84,563
		799,667	1,639,498	2,439,165	2,786,558
		`------------------------------`			------- -------

STAFF COSTS		2021	2020
The average monthly numberof persons working with the charitable		No.	No.
company (excluding Trustees) during the yearwas:
Employed		53	51
		----	----
		£	£
Staff costs forthe above persons:
Wages and salaries	1,931,361		1,856,734
Temporary staff costs		27,425	31,224
Social security costs		191,199	190,327
Health and other pension costs		104,741	95,395
	2,254,726		2,173,680
		-------	-------
		-------	-------
Staff costs are allocated in the financial statements, as follows:
Costs of generating voluntary income
- specific staff		200,163	194,874
Support given to educational bodies to operate CareerAcademies
Unrestricted funds-balance of staffcosts		476,418	353,373
Restricted funds-based on specific staffactivity	1,531,713		1,583,061
Governance costs
- based on specific staffactivity		46,432	42,372
	2,254,726		2,173,680
	------- -------		------- -------

The charity is also reliant upon donated services provided by its wide range of business and	The charity is also reliant upon donated services provided by its wide range of business and	The charity is also reliant upon donated services provided by its wide range of business and	The charity is also reliant upon donated services provided by its wide range of business and	The charity is also reliant upon donated services provided by its wide range of business and	The charity is also reliant upon donated services provided by its wide range of business and	The charity is also reliant upon donated services provided by its wide range of business and	The charity is also reliant upon donated services provided by its wide range of business and
education supporters, and those donated services which can be quantified are							recognised
in the financial statements as donations in kind.
SUPPORT COSTS			Support
		given to educational
		bodies	to	operate
		Career Academies
	Raising	Unrestricted	Restricted		Governance	Total	Total
	funds	funds		funds	costs	2021	2020
	£	£		£	£	£	£
Accommodation
costs:
Based on staff
activity	27,500	65,456			6,380	99,336	101,783
Othercosts:
Specifically
allocated				24,368		24,368	39,442
Based on staff
activity	23,761	56,555			5,512	85,828	112,717
Depreciation:
Owned assets	80	190			18	288	360
	51,341	122,201		24,368	11,910	209,820	254,302
	`---------------------------------------------`						`======`

12.	GOVERNANCE COSTS	Unrestricted	Restricted	Total	Total
		funds	funds	`2021`	`2020`
		£	£	£	£
	Staffcosts (see note 10)	46,432		46,432	42,372
	Support costs (see note 11)	11,910		11,910	16,072
	Auditor's remuneration:
	Accountancy and advisory	8,500		8,500	13,119
	Audit fees	15,250		15,250	13,000
		82,092		82,092	84,563
					------
		`------------------------------`			------
13.	TANGIBLE ASSETS				Office
					equipment
					£
	Cost:
	1April 2020 and 31 March 2021				10,550
	Depreciation:
	1 April 2020				9,112
	Charge in the year				288
	31 March 2021				9,400
	Net book value:
	31 March 2021				1,150
					------
					------
	31 March 2020				1,438
					------
					------
14.	DEBTORS			`2021`	`2020`
				£	£
	Amounts falling due within one year:
	Trade debtors			159,210	228,064
	Otherdebtors			1,055
	Prepayments and accrued income			134,013	407,977
				294,278	636,041
				`=======`	------- -------

CREDITORS	2021	2020
	£	£
Amounts falling due within one year:
Trade creditors	52,743	61,198
Othertaxes and social security costs	57,523	51,977
Pension contributions payable	13,843	25,474
Accruals	25,331	20,088
Deferred income	167,173	207,090
	316,613	365,827
	------- -------	------- -------

Deferred income relates to funding received in advance for
specific future projects where performance criteria forentitlement
have not yet been met:
Deferred income brought forward	207,090	83,000
Deferred income released to the statement offinancial activities	(183,000)	(83,000)
Income received in advance during the period	143,083	207,090
Deferred income carried forward	167,173	207,090
	------- -------	=======

				Transfers
	1 April			between	31 March
	2020	Income	Expenditure	funds	2021
	£	£	£	£	£
Restricted income funds:
Awards Fund	1,776	17,993	(16,107)		3,662
Employability ForAll
Fund	237,249	774,157	(932,811)		78,595
Scotland Fund	121,502	360,948	(454,596)		27,854
STEM Fund	80,758	75,000	(141,800)		13,958
Think Logistics Fund	61,326	40,500	(94,184)		7,642
	502,611	1,268,598	(1,639,498)		131,711
Unrestricted income
funds:
General Fund	411,799	1,140,840	(973,215)		579,424
IFF Designated Fund	467,425		(77,956)		389,469
	879,224	1,140,840	(1,051,171)		968,893
	1,381,835	2,409,438	(2,690,669)		1,100,604
	------- -------	------- -------	------- -------	------ ------	------- -------

				Transfers
	1 April			between	31 March
	2019	Income	Expenditure	funds	2020
	£	£	£	£	£
Restricted income funds:
Awards Fund	10,462	54,822	(63,508)		1,776
Employability ForAll
Fund	339,959	1,061,310	(1,165,272)	1,252	237,249
Parents Project Fund	21,329	10,000	(31,329)
Health Education England
Fund	7,033		(7,033)
Student Placements Fund		157,538	(157,538)
Scotland Fund	112,647	502,752	(493,897)		121,502
STEM Fund	119,953	24,000	(64,303)	1,108	80,758
Think Logistics Fund	81,363	85,950	(105,987)		61,326
	692,746	1,896,372	(2,088,867)	2,360	502,611
Unrestricted income
funds:
General Fund	188,723	723,420	(497,984)	(2,360)	411,799
IFF Designated Fund		935,919	(468,494)		467,425
	188,723	1,659,339	(966,478)	(2,360)	879,224
	881,469	3,555,711	(3,055,345)	-	1,381,835
	------- -------	=======	------- -------	------ ------	=======

	Fixed	Current	Current
	assets	assets	liabilities	Total
As at 31 March 2021:	£	£	£	£
Restricted income funds:
Awards Fund		3,662		3,662
Employability ForAll Fund		78,595		78,595
Scotland Fund		27,854		27,854
STEM Fund		13,958		13,958
Think Logistics Fund		7,642		7,642
Unrestricted income funds:
General Fund	1,150	894,887	(316,613)	579,424
IFF Designated Fund		389,469		389,469
NET ASSETS	1,150	1,416,067	(316,613)	1,100,604
	------	-------	------	-------
	------	-------	------	-------
	Fixed	Current	Current
	assets	assets	liabilities	Total
As at 31 March 2020:	£	£	£	£
Restricted income funds:
Awards Fund		1,776		1,776
Employability ForAll Fund		237,249		237,249
Scotland Fund		121,502		121,502
STEM Fund		80,758		80,758
Think Logistics Fund		61,326		61,326
Unrestricted income funds:
General Fund	1,438	776,188	(365,827)	411,799
IFF Designated Fund		467,425		467,425
NET ASSETS	1,438	1,746,224	(365,827)	1,381,835
	------ ------	------- -------	------ ------	------- -------

18.	RECONCILIATION OF NET {EXPENDITURE)/INCOME TO	`2021`	`2020`
	NET CASH PROVIDED BY OPERATING ACTIVITIES	£	£
	Net (expenditure)/income forthe reporting period	(281,231)	500,366
	Adjustments for:
	Dividends, interest, and rents from investments	(6,226)	(7,458)
	Depreciation charges	288	360
	Decrease/(increase) in debtors	341,763	(188,396)
	(Decrease)/increase in creditors	(49,214)	136,673
	Net cash generated from operating activities	5,380	441,545
		------- -------	`=======`
19.	ANALYSIS OF CASH AND CASH EQUIVALENTS	`2021`	`2020`
		£	£
	Cash at bank and in hand	1,121,789	1,110,183
			-------
		=======	-------