Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
Company registration number.. 04159512
Charity number.. 1097832
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
SPONSORS FOR
EDUCATIONAL
OPPORTUNITY LIMITED
(A company limited by
guarantee)
MENZIES
BR16HTER THINKING

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
CONTENTS
Page
Reference and admlnlstratlve detalls of the Company, Its Trustees and advlsers
Trustees. report
Independent auditor's report on the flnanclal statements
Consolidated statement of financial activities
8-11
12
Consolidated balance sheet
13
Company balance sheet
Consolidated statement of cash flov
14
15
Notes to the financial statements
16-29

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS
TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2022
Trustees
M Marangu
M Osheowitz
Z Ashcroft
AAbbas
M Aganval
N Grose
D Shah (appointed 17 February 20221
A Fairbaim (appointed 1 July 20221
Company registered
number
04159512
Charity registered number 1097832
Règistèred offieè
41 Great Guildford Street
London
SE1 OES
Company secretary
Z Ashcroft
Chief executive officer
N Richards
Independent auditor
Menzies LLP
Chartered Acwunlanls
Centrum House
36 Station Road
Egham
Surrey
TW20 9LF
Bankers
HSBG Bank PIC
20 E8Stcheap
London
EC3M 1ED
Sollcltors
Winston & Strawn London
CityPoint
One Ropemaker Street
London
EC2Y 9HU
Page 1

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The trustees, who are also directors lor the purposes of company law, present their report and the financial statements of
the charity for the year to 31 August 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Referell￿ and adrllinislralive details are shown on page 1 of the financial 5talernenls.
THE TRUSTEES
The trustees who served the company during the period were as follows..
M Marangu
M Osheowitz
R Sesson- resigned on 30 June 2022
Z Ashcroft
AAbba5
M Agarw81
N Grose
D Shah- joined the Board on the 17 February 2022
A Fairbairn- joined the Board on the 30 JLJne 2022
The charitable company also uses the name SEO London.
STRUCTURE, GOVERNANCE AND MANAGEMENT
. GOVERNING DOCUMENT
Sponsors for EducAtion81 Opportunity Limited I'SEO London or the 'ch8rity°I w85 est8blished 8s a comp8ny limited by
guarantee on 13 February 2001. On 5 June 2003. the company was registered a5 a chaiity In England and Wale5 by th8
Charity Commi5510n. It is governed by its Metllorandutn and Articles ol Associabon dated 13 February 2tXJ1.
b. TRUSTEE BOARD
The charity is administered by a board of Trustees. Trustees are appointed after being ￿nSIdered and assessed by the
Chairman and other Trustees to determine their suit8bility. after which the fvll board will vote to appiove their appoinlmenl.
All current Tiustees are experienced professionals within either th8 fin8nci81 s8rvices, 18g818ndloi charty profession with no
less than ten years. experience in their sector.
The Chairman will take responsibility, with SEO London's staff, to ensure Trustees are provided with adequate training on
the nature of their duties as a trustee before appointments are confirmed.
c. MANAGEMENT
Day to day management of the charity is undertaken by the staff of SEO London, headed by the Managing Director Andrew
Fairbairn with operating title of Chief Executive Offi￿r. The Managing Director will provide regular updates to the Chairman
throughout the year and revert lo him for 8pprov81 on any rnateiially significant business decisions. The board of Trustees
will spesk in peison and telephonically at least four times a year and 8t other designated tirnes to review the charity's
operational and financial performance and to discuss the Strategic direction ol SEO London.
SEO London Finance Committee meets every month to focus on financial aspects of the Charity.
SEO London New Product Committee meets when appropriate to focus on strategic new programmes the Charity might
undertake.
Page 2

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
d. WIDER SUPPORT NETWORK
Sponsors for Educational Opportunity ISEOI, was originally founded in 1*3 as one of New York's first mentoring
programme3 for high school students. Its aim was to provide personal and educational development for students from
minority rarial group5 by means of sustained 5UPPOrt and coaching.
In 1980. SEQ started ils Career Progiarnme in New York to provide summer internship opportunities to university students
in Investment banking. Subsequent internship programrn8s w8r8 d8velop8d in management consulting, corporate law,
accounting, and technology, arnongst others.
Since 2000, SEO has expanded intemationally. There are now several SEO programmes in cities across the United States
ISEO USAI, Beijing ISEO China), Ho Chi Minh City ISEO Vietnam), Accra ISEO Africa), Lagos ISEO Africa) and London
ISEO London).
Following a successful pilot prograrmrne in 2000. SEO London was forrnally launthed in February 2001, bringing to the UK
an organisation with an exceptional track record of 5ucce5S In the US. Thousand5 of SEO London alumni can now be found
across the UK and globally, many with senioi leadership positions wrthin their Industiies. The organisation currently works
with over 15,000 diverse students and professionals across the UK and around the world, engaging over 120 elite firms
across industries ranging from financial serVI￿S to corporate law, corporates, consulting and technology. Through its
unique attraction, mentoring and training programmes, SEO London seeks to improve the academic and career potential of
students from under served communities, specifically under represented ethnic minority groups or those from deprived
socio economic backgrounds. SEO London also actively supports the gender balance goals of its sponsor firms and
regularly partners Wlth other organisations supportive of advancing workplace diversity and inclusion.
SEO London's support is focused to m8leri8lly assist with students, progression through secondary school and university
and uttirn8lely into some of the Tnosl COTnpetitive university graduate ¢8reer paths and beyond.
SEO London Is in tuin supported financially by the donations of its sponsor firrn5. Several hundred employees ol these
rims. Induding investment bankers, lawyers, management consultants, media and technology professionals and
accountants, volunteer their time to help train, mentor and coach students coming through the various SEO London training
programmes.
e. RELATED PARTIES
The charity has a subsidiary undertaking, SEO Connect Limited. SEO Connect provides financial institutions and corporate
rims an avenue to support their experien￿d hiring needs. The company started trading in August 2014 (dormant In the
prior period). All profits made in SEO Connect are gifted back to SEO London.
f. RISK MANAGEMENT
Through regular finance committee and full board meetings, the Trustees rneet to identify, prioritise and address risks to the
charity and its ability lo achieve its mission..
Fin8n¢i81 risks that are regularty reviewed include potential decrease5 in revenue. increases in costs. and shortages of cash
flow. The tirneliness 8nd accuracy of financial d8t8 Is 8150 regulaily ieviewed.
Operational risks that are regulady reviewed centre on the qualty and ambibon of the charity's programming in the context
of the charity's overall mission.
Strategic risks that are regularly reviewed focus on how the organisation responds to evolving systemic shifts across the
various constituencies invested in the charity's mission, i.e. students and alumni, secondary and tertiary academic
institutions, charity employees and staff. and sponsor firms.Any new programme offerings that the charity wants to
undertake goes through a review prO￿sS with the New Product Gommittee consisting of a subset of Iruslees. Only after
sign off and approval fioTn the NPC do the new piogrammes go into execution to rninimize potential strategic iisks.
The TrLJStees believe that all reviewed risks are managed and mitigated within acceptable operational bounds, and that
none represents a threat to the ability of the charity to sustainably deliver agairist its mission.
Page 3

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Objectives and activities
. OBJECTIVES AND AIMS
SEO London Is a not-for-piofit organisab.on that seeks to improve the academic and career potential tsf students Iiom under-
represented communities. SEO London seeks to support two groups." those from either or both
1. under-represented black, Asian and minority ethnic backgrounds, and.,
2. those from low socioeconomic families from all communities
SEO London is also committed to gender equality and seeks wherever possible to ensure an equal number of male and
female participants on its programmes.
b. SIGNIFICANT ACTIVITIES
The aims of the charity are to..
encourage more undeigiaduale students from the above referenced undei represented (x)mmunilies to ¢onsider
car8er in 5UPPOrt8d industries and to rnake application5 for internships 8nd giaduate positions in th85e industries.,
increase the support of secondary school students from these communities eadier in the academic cycle
Ispeafically in the latter years of secondary school) to ensure more suctsssfully achieve their academic potential.,
create a vibrant and self sustaining alumni community which provides lifelong benefits to SEO London programme
beneficiaries and provides a vehide for alumni to give back to the next generation of young people,.
provide the highest leve15 of training. mentoring and support lo those selected for the various programmes,. and
work with sponsor firms lo increase the number of such students successful in $￿U[Ing places on Iheir18lenl
piogr8mmes.
The biggest prinapal differen￿ that the charity seeks to effect is an increase in the number of students from the above
referenced under represented communities securing work experience and ultimately full-time positions with the UK'S most
sought-after ernployers. In doing so the programrne aims to increase the representation of people trom these cornmunities
in some of the most prestigious. remunerative and cornpetitive industries across the UK.
The Strategy to achieve these objectives has been lo..
work with an increasing numbei of universities to educate eligible students about the opportunities available to
them",
identify those with the greatest interest and potential for intemship and full time opportunities with partner firms.,
provide these students with a comprehensive range of training and rnentoring to ensure they are able to excel in
both interviews and intemships with these firms.,
widen the reach of the scheme to an increasing nurnber of employers that are faced with the type of under
repiesenlalion in their Workfor￿ th81 SEO London seeks lo address..
work with talented and eligible students at secondary schools across London to provide them with greater
education, mentoring and work insight.. and
engage professionals from sponsor firms and SEO London alumni as volunteers in support ol the communities that
SEO London serves. This support frequently takes the forrn of taking part in SEO London education81 events and in
training. coaching. and mentoring students from under represented communities that have been selected to
complete internships 8t partner firm5.
In determining the charrty's objective5 in 2021, the Trustees have complied wrth the duty in section 4 of the Charitie5 Act
2006 tts have regaid to the Charity Commission guidance on public benefit.
Page 4

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Achievements and performance
. CHARITABLE ACTivrriES
SEO London provides a platform of superior educational, training and rnentoring programmes to provide career access to
young people from under-represented and under-served background5 to help maximise their opportunitie5 for long-temi
career Suc￿88.
SEO London's mission is to deliver a wodd where no individual feels that their demographic background holds them back
from achieving their professional aspirations.
SEO London delivers its mission through three principal programmes..
SEO Schools supported over 230 secondary school students, prirnarity across London.,
SEO Careers iegistrations surged above 12.000. of which more than 3,7(X) universty students P8rticipated direcrfy in
a variety of SEO London In person and virtual programming,. with SEO Careers support over 870 student5 gained
access to Work experiences, spring and SLJmmer intetnships, Industrial placements and fLJlI-time jobs," and
SEO Alumni engaged over 1,500 alumni ol SEO London's programmes, through a mix of job search support,
networking, continuing professional education, and leadership development.
All programmes are underpinned by a focus on ensuring participating students pass along the life changing benefits of the
programme to others corning after them in the prograrnme and in their communities.
The Charity's theory of change. as proven by it5 long experience. is that it5 alurllni driven approach of passing along benerrts
within dis8dv8nlaged comrnunities al scale over time is 8 highly effective and visible method of achieving the org8ni58tion's
mis510n.
Financial revigw
. FINANCIAL posmoN
The charity has performed strongly in the past year, serving more students and alumni than ever before. with a
corresponding increase in the number of sponsor firrns investing in the charity's rnission. In cornbination with a continued
focus on cost controls and tight cash flow management, these operational factors have yielded a financial position
showcasing strong con501idated revenues 1£3.423.9911. tightly controlled costs 1£2.391,1181 and consolidated cash
balan￿ at an 811-lime high1£3,023,9381.
b. INCOME
The charity has seen another Increase in ievenue for the financial period ended 31 August 2022 as SEO'S flagship
progiamme (Altemative Investment Programmel which kicked ofl in September 2021, continLJes to evolve and attract new
sponsorship. However, the revenue growth is also reflected in a large general increase of sponsor interest in the SEO
London mission.
Page 5

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
c. RESERVES POLICY
During the finanaal year the trustees decided that the targeted rninimum reserve threshold for SEO London would be an
arnounl equivalent to approximately twelve weeks operating costs. It was agreed that the amount in question would be
determined on an annual basis by the average rnonthly operating costs in the previous financial year. In fiscal year 2022
this amount would be in the region of £510,000.
Total funds held at the end of the reporting peiiod were £3.043.055. of which none of these funds were restricted and thus
unavailable for general purposes. The total amount ol free ieserves, after allowing ftsi funds tied up in tangible and
intangible fixed assets, stands at £2,991,293.
The amount of retained funds exceeds the resetve threshold of £510,000 with any eX￿sS funds allocated to future general
operating purposes, principally programme delivery. The trustees will continue to review the reserves level periodically to
reffiect evolving aver8ge monthly operating ￿SIs.
All fund5 are held in cash in imTnedi8tety available banking facilities.
d. PLANS FOR FUTURE PERIODS
SEO London's plans for 2022123 indude deepening the quality and ambition of the work Ljndertaken aeross all primary
programmes ISEO Schools, SEO Careers, SEO Alumni). The range of support provided will remain within the areas of SEO
London's expertise namety education, training and mentoring to facilitate Workpla￿ access and professional growth ol the
populations we serve.
It is also intended that SEO London will explore or further develop partnerships in other industries that have traditionally
struggled to attract the type5 of under-represented communities that SEO London supports.
e. GOING CONCERN
The trustees have 8 reasonable expectation that the chaiity has adequate resource5 to continue operational existence for
the foreseeable future. For this reason, the trustees continue to adopt the going concem basis of accounting in preparing
the annual financial statements.
f. SIGNIFICANT EVENTS
There have been no significant events affecting the financial performance of and financial position of the charity during the
reporting period.
Following the resignation of Andrew Fairbairn as CEO, there was an orderly transition lo the incorning CEO, Nalhalie
Rich8rds. who joined 8$ CEO on 23rd May 2022. Thereafter, Andrew Fairbaiin becarne a Trustee and CTrChairm8n on
30th June 2022.
Small companias exèmption
The financial statements and Trustee's report have been prepared in accordance wth the provisions applicable to entities
subject to the small companies regime.
Page 6

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Statement of Trustees. responsibilities
The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing
the Trustees, report and the financial statements in accordance wrth applicable law and United Kingdom Accounting
Standards (United Kingdorn Generally Accepted Accounting Practi￿1.
Company law requires the Trustees lo prepare financial stalernents for each financial . Under company law, the Trustees
musl not approve the fin8nci81 statement5 unless they are $8t151ied th81 they give a true and fair view of the state of affairs
of the Group and the Company and of their incorning resources and application of resources, Induding their income and
expenditure, for that period. In preparing these financial statements, the Trustees are required to."
select suitable accounting policies and then apply them consistentty",
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting St8ndards IFRS 1021 have been followed, subject to any material
departures disdosed and explained in the financial statements",
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will
continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group
and the Companys transactions and disclose with reasonable accuracy at any time the financial position of the Group and
the 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 Group and the Gompany and hen￿ for taking reasonable steps for the
prevention and detection of fraud and other irregul8rities.
Di¥¢losure of inforniation to auditor
Each of the persons who are TIu5tees at the time when this Trustees, report is approved h85 confirmed that".
so far as that Trustee is aware, there is no relevant audit infomation of which the charitable group's auditor is
unaware, and
they have taken any ￿￿$88ry steps that ought to have been taken as a Trustee in order to be aware of any
relevant audit information and to establish that the charitable group's auditor is aware ol that infomation.
Auditor
The auditor, Menzies LLP, has indicated his willingness to continue in office. The designated Trustees will propose a motion
reappointing the auditor at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
DoCuS￿￿d tsy..
tkxus*nidby.'
D Shah
Trustee
Date.. 18-May-2023
SOE1140ACC414
A Falrbum
Trustee
Date.. 18-May-2023
2D870nCD4F74FC..
Page 7

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL
OPPORTUNITY LIMITED
(A company limited by guarantee)
MENZIES
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPONSORS
FOR EDUCATIONAL OPPORTUNITY LIMITED
Opinion
We have audited the financial statements of Sponsors ft)r Educational Opportunity Limited (the 'p8rent charit8ble company'l
and its sub51diaries Ithe 'gioup'l foi the year ended 31 August 2022 which comprise the Consolidated statement of financial
activitie5, the Consolidated balance sheet, the Cornpany balance sheet, the Consolidated statetnent of cash flows and the
related notes, including a summary of significant accounting poliaes. 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, Iunited Kingdom Generally
Accepted Accounting Practicel.
In our opinion the financial slatemenls..
give a true and fair view of the state of the Group's and of the parent chaiitable companys affairs as al 31 August
2022 8nd of the Group's Incoming reSoUr￿S and application of resouice5, induding its incorne and expenditure for
the year then ended",
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilitie5 under those standards are further described in the Audilorfs responsibilities for the audit of the financial
statements section of our report. We are independent of the Group IN accoid8nce wlh the ethical requirements that are
relevant to our 8udit of the fin8n¢i81 st8tements in the United Kingdorn. including the Fin8rTrci81 Reporting Council's Ethical
Standard, and we have fulfilled our other ethical iesponsibilities In accordance with these requiiements. We believe that the
audit eviden￿ we have obtained 15 sufficient and appropriate to provide a ba51s lor our opinion.
Conclusions relating to going concem
In auditing the finanaal statements. we have conduded 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 perforrned. we have not identified any material un￿rtaiNtieS relating to events or conditions
that. individually 01 colle¢lively. rnay rasl significant doubl on the Group's or the parent charitable company's ability lo
continue as a going concein foi a period of at least twelve months fiotn when the financial statements ale 8uthorised for
155ue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant
sections of this report.
Page 8

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPONSORS
FOR EDUCATIONAL OPPORTUNITY LIMITED(CONTINUED)
Other information
The other information cornprises the information included in the Annual report other than the financial stalernents and our
Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our
opinion on the financial statements does not ￿Ver the other information and. except to the extent otherwise explicitly stated
in our report, we do not express any fonn of assurance Conclusion thereon. Qur responsibility is lo read the other
infoirn8tion and. in doing so. consider whether the olhei information is materially inconsistent with the financi81 statements
or our knowledge obtained in the course of the audit, or otherwise appears to be materially tnisstated. If we idèntify such
material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a
material misstatement in the financial statements themselves. If, based on the work we have performed, we condude 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.
Opinion on other matters prescribed by the companies Act 2006
In our opinion. based on the Work undertaken in the wurse of the audit..
the inforrnation given in the Trustees. report for the financial year for which the financial statements are prepared is
consistent with the financi81 statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Mattern on which we are required to report by excèption
In the light of our knowledge and understanding of the charitable 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 Companies Act 2006 requires us to report
to you if, in our opinion..
the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our
SLJdit have not been received from blanches not visited by us.. or
the parent charitable company financial statements are not in agreement with the accoLJnting ieeords and retums", or
certain di￿10$ureS of Trustees. remuneration specffied by law are not made., or
we have not received all the information and explanations we require for our audit., or
the Trustees were not enlilled to prepare the financial statements in accordance with the srllall companies regirne
and take advantage of the small cornp8nies' exernptions in preparing the Trustees, report and frorn the iequiietnent
to prepare a Strategic report.
Responsibilities of trustèès
As explained more fully in the Trustees, responsibilities statement, the Trustees Iwho ale also the directors of the charitsble
company for the purposes of company lawl are responsible for the preparation of the finanaal statements and for being
satisfied that they give a true and fair view, and lor such internal control as the Trustees determine is netsssary to enable
the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial staternents. the Trustees are responsible for assessing the Group's and the parent charitable
companys ability to continue as 8 going concern, disdosing. as applicable. matters related to going concein and using the
going concern basis of accounting unless the Ttustees either Intend to liquidate the Group or the parent chaiitable cotnp8ny
or to cease operations, or have no realistic alternative but to do so.
Page 9

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPONSORS
FOR EDUCATIONAL OPPORTUNITY LIMITED(CONTINUED)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuranTr about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and lo 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 IUKI will
ahfifays detect a material misslalemenl when it exists. Misslalements can arise trom fraud or error and are considered
material if. individually or in the aggregate. they could re8sonabty be expected lo influence the econornic decisions of users
tsken on the basis of these financial statèments.
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, induding fraud. The extent
to which our procedures are capable of detecting irregularities. including fraud is detailed below..
The Group and parent Charity is subject to laws and regulations that directly affect the financial staternents including
rin8nci81 reporting legis18tion. We determined that the following laws 8nd regulations were most signrficant including
the Charities Act 2011. Safeguaiding Vulnerable Groups Act 2tK)6 and ernployment law. We assessed the extent of
compliance with these law5 and regulations as part of our procedures on the related financial stateTnent Items.
We understood how the Group and the parent Charity is compfying with those legal and regulatory frameworks by
making inquiries to management and those responsible for legal and compliance protsdures. We corroborated our
inquiries through our review of board minutes.
The engagement partner assessed whether the engagement learn collectively had the appropriate competence and
capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any
issue5 in this area.
We assessed the susceptibility of the Charity's fin8nci81 stslements to m8teri81 misstatement. induding how fraud might
occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the
greatest potential for fraud in the following areas", posting of fraudulent joumal entries, authorisation, pro￿$SIng, and
payment of fraudulent expenses and timing of revenue recognition.
Audit procedures performed by the engagerllent team inoauded..
Identifying and assessing the design effediveness of oonlrols management h85 in place to prevent and detect fraud.,
Understanding how those chaiged with governance considered and address8d th8 Potential for ov8iride of controls
01 other Inappropriate influence over the financial reporting process",
Challenging assumptions and jLJdgments made by management in its significant accounting estimates," and
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading
to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that
cornpliance with a law or regulation is removed frorn the events and transactions reflected in the finanaal statements, as we
will be less likely to becorne aware of instances of non-complian￿. The risk is also greater regarding irregularities occurring
due lo fraud rather than error. as fraud involves intentional concealment, forgery. collusion. omission or misrepresentation.
A further description of our responsibilities for the 8udit of the fin8nry81 statements is located on the Fin8nci81 Reporting
Council's website al.. www.fi
This desciiplion forms part of our Auditorfs ieport.
Page 10

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SPONSORS
FOR EDUCATIONAL OPPORTUNITY LIMITED(CONTINUED)
Use of our report
This report is rnade solely to the charitable company's members, as a body, in accordance with Chapter 3 01 Part 16 of the
Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports)
Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those
matters we are required lo stale to them in an Auditorf5 report and for no other purpose. To the fullest extent permitted by
law. we do not 8ccept or assurne responsibility lo anyone other than the ch81it8ble company and its mernbers. as 3 body.
for tsur audit work, for this ieport, or ft)r the opinions we have fomied.
DocuS*n•d by..
634F240E92A4471
Janlce Matthews FCA (Senlor statutory audltorl
lor and on behalf of
Menzies LLP
Chartered Accountants
Statutory Auditor
Centrum House
36 Station Road
Egha
Suriey
TW20 9LF
Date.. 18-May-2023
Page11

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2022
Unrestrietèd
funds
2022
Total
funds
2022
Totèl
funds
2021
Inoome from=
Donations and legacies
Other trading activities
Investments
3,323,567
100,300
124
3.323,567
100,300
124
2.703,033
213,90Q
54
Total Income
3.423,991
3.423,991
2,916,981
Expenditure on=
Raising funds
Charitable activities
21,992
2,369,126
21,992
2,369,126
26,875
1,449,523
Total expenditure
2.391,118
2.391,118
1.476,398
Nèt movement in funds
1.032,873
1.032,873
1,440,589
Reconciliation of funds..
Total funds brought forward
Net rnovement in funds
2.010,182
1,032,873
2,010,182
1,032,873
569,593
1.440,589
Total funds carried forward
3,043,055
3,043,055
2,Q10, 182
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 16 to 29 forrn part of these financial statements.
Page 12

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
REGISTERED NUMBER:04159512
CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2022
2022
2L121
Not•
Fixed assets
Intangible assets
Tangible assets
7,056
44,706
15, 797
22,825
10
51,762
38,622
Current ass•ts
Debtors
12
814.503
3,023,938
250.411
2,310,339
Cash at bank and in hand
3,838,441
2,560, 750
Creditors.. amounts falling due within one year
13
1837,8981
(589, 790)
Net current assets
3,000,543
1.971,560
Total assets less current liabilities
3,052,305
2.010, 182
Piovisions for liabilities
14
19,2501
Totsl net assets
3,043,055
2.010. 182
Charity funds
Unrestricted funds
15
3.043,055
2,010, 182
Totsl funds
3,043,055
2.010, 182
The Trustees acknowledge their responsibilities ft)r complying wrth the requirements of the Act with iespect to accounting
records and preparation ol financial statements.
The financial ststements have been prepared in accordance with the provisions applicable to entities subject to the small
companies regime.
The finanaal statements were approved and authorised for issue by the Trustees and signed on their behalf by..
by."
Do¢uSWby'.
D Shah
Trustee
Date.. 18-May-2023
A Fairbum
Trustee
Date.. 18-May-2023
2OB7073CD4F74FC...
The notes on pagès 16 to 29 form part of these finanaal statements.
Page13

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
REGISTERED NUMBER:04159512
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2022
2022
2L121
Not•
Fixed assets
Intangible assets
Tangible assets
Investments
7,056
44,706
100
15, 797
22,825
100
10
51,862
38, 722
Current assets
Debtors
12
991,177
2,825,053
367,242
2, 147,325
Cash at bank and in hand
3,816.230
2,508,567
Creditors.. amounts falling due within one year
13
1827,4881
(583.845?
Net current assets
2,988,742
1.924, 722
Total assets less current Ilabllltles
3.040,604
1,963,444
Piovisions for liabilities
14
19,2501
Total net assets
3,031,354
1.963,444
Charity funds
Unrestricted fund5
15
3.031,354
1.963,444
Total funds
3.031,354
1.963,444
The Company's net rnovemenl in fvnd5 for the year was £1,067.910 (2021- £Y.315,556J.
The Truste85 acknowledge th8ir responsibilities for complying wrth th8 requirements of the Act with 185PeCt to 8CCOLJnting
records and preparation ol financial statements.
The financial ststements have been prepared in accordance with the provisions applicable to entities subject to the small
companies regime.
The
finanaal
statements
were
approved
and
authorised for
and signed
issue
by
the
Trustees
on
D Shah
Trustee
5DE714￿cAl494
A Fairbum
Trustee
D*e.. 18-May-2023
Date.. 18-May-2023
The notes on pagès 16 to 29 form part of these finanaal statements.
Page 14

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2L121
Notè
Cash flows from operating activities
Net cash generated frorn operating activities
753.200
1.781,304
Cash flows from investing activities
Purch8se of intangible assets
Purchase of tsngible fixed asset5
{10,800)
(20, 738)
10
139,6011
Net cash used in investing activities
139,6011
131,5381
Cash flows from flnanelng actlvltles
Repayments of borrowing
(200,000)
Net cash provlded byllused Inl flnanclng actlvltles
1200,0001
Change In cash and cash equlvalents In the year
713,S99
1,549,766
Cash and cash equiv81enls at the beginning of the year
2,310.339
760,573
Cash and cash equivalents at the end of the year
18
3,023,938
2.310,339
The notes on pages 16 to 29 forrn part of these finanual statements
Page15

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accountlng pollcles
1.1 Basis of preparation of financial statements
The financial slalemenls have been prepared in accordan￿ with the Charities SORP IFRS 1021- Accounting
and Reporting by Charities.. Staternent of Recornrnended Pr8Ctice applicable to ch8rities preparing their
account5 in accordance with the Financial Reporting Standard applicable In the UK and Republic of Iieland
IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable In the UK and Republic of
Ireland IFRS 1021 and the Companies Act 2006.
Sponsors for Educational Opportunrty Limited meets the definition of a public benefit ents'ty under FRS 102.
Assets and liabilities are initially recognised al historical cost or transaction value unless othetwise stated in the
relevant accounting policy.
The Consolidated statement of Iinancial activities ISOFAI 8nd Consolidated balance sheet consolidate the
rinancial statements of th8 Comp8ny 8nd its 5LJbsidiary undertaking. The results ol the subsidiary are
consolidated on a line by line basis.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006
and has not presented its own Statement ol financial activities in these finanaal statements.
1.2 Company status
The company is a private company limited by guarantee incorporated in England and Wales under the
Companies Act. The members of the company are the trustees named on page 1. In the event of the company
being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The
address of the registered office is disclosed on the reference and administrative details page.
1.3 Basis of consolidation
The financial staternents consolidate the accounts of Sponsors foi Educational Opportunty Limrted and its
subsidiary undertaking.
The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006
not to present its own Incorne and expenditure account.
1.4 Going concem
After making 8ppropriale enquiries, the Trustees have a reasonable expectation that the Comp8ny has
adequate resoUr￿S to oonlinue in operational existence for the foresee8ble future. For this reason. they
continue to 8dopt the going concern basis In prep8ring the financi81 statements. Further details regarding the
8doption of the going concem basis can be found in the accounting policie5.
1.5 Ineome
All income is recognised once the 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.
Donated services or faalities are recognised when the company has control over the item, any conditions
associated with the donated item have been met, the receipt of economic benefit from the use of the company
of the itern is probable and that economic benefit can be measured reliably.
Income tax recov8iab18 in r818tion to Investment income is recognised at th8 time the inv8Stm8nt inc0rn8 IS
receivable.
Page 16

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accountlng pollcles Icontlnuedl
1.8 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third
party, il is probable that a transfer of economic benefits will be required in settlernent and the amount of the
obligation can be measured reliably.
Charitable activities and Governan￿ costs are costs incuired on the cornpany's charitable operations,
including support costs and costs relating to the govemance of the cornpany apportioned to charitable
activitiès.
All expendrfture is indusive of irrecoverable VAT.
1.7 Tangible & Intangible fixed assets and depreciation
A review for impairrnent of a fixed asset is carried out rf events or changes in circumstances indicate that the
carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets
and their recoverable arllounts are recognised as impairments. lrnpairmenl losses are recognised in the
Slalemenl of financial activities.
Fixed assets 8ie c8rried * cost, net of depieci81ion and any provision foi irnpairmenl.
Depreciation is provided at rates calculated to write off the cost of fixed assets, le5S their estimated residual
value, over their expected useful lives on the following bases..
Equipment
Fixtures and fittings
Website & Sofiware
25Q/D Straight line
25Q/D Straight line
35°/D Straight line
1.8 Operating leases
Rentals paid under operating leases are tharged to the Gonsolidated statement of financial activities on a
stiaight line basis over the lease tetm.
1.9 Liabilitiès
Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a resuK of a
past event, it is probable that a transfer of economic benefrt will be required in settlement, and the amount of
the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount
it has received as advanced payments lor the goods or services it must provide.
1.10 Financial instruments
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised al transaction value and subsequently measured at their
seltlernenl value with the ex￿ption of bank loans which are subsequently measured al arnortised cost using
the effective interest tnethod.
1.11 Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension
plan under which the company pays fixed contributions into a separate entity. Once the contributions have
been paid the company has no further payment obligations.
Page17

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accountlng pollcles Icontlnuedl
1.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtheran
of the general objectives of the Group and which have not been designated for other purposes.
Critical a¢¢ounting e8timate8 and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experien￿ and other factors,
including expectations Of future Èvents that are believed to be ieasonable undei the circutnstances.
There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year.
Page 18

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Income from donations and legacies
Unrestricted
fijnds
2022
Total
funds
2022
Total
funds
2Q21
Donations
3,323,567
3,323.567
2,703,033
Total 2021
2. 703.033
2,703,033
Income from other trading activities
Income from non charitable trading activities
Unrestricted
fund8
2022
Total
funds
2022
Totsl
funds
2021
SEO Conn8Ct incom
100,300
100.300
213,900
Total 2021
273,900
213,9QO
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2022
Total
2022
Tot81
2Q21
Programmes
2.369,126
2,369.126
1.449.523
Ttrtal 2021
1,449,523
1,449,523
Page 19

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Analysis of expenditure by activities
Activities
undertaken
directly
2022
Support
costs
2022
Total
funds
2022
To181
funds
2Q21
Programmes
2,354,210
14,916
2,369.126
1,449,523
Total 2021
1.438.223
11.300
1.449.523
Analysis of direct costs
Total
funds
2022
Total
fvnds
2Q21
Programmes
2022
Staff costs
Depreciation
Charitable activities
1,743,564
25,703
584,943
1,743,$64
2S,703
584.943
1.081,669
18,927
337,621
2.354.210
2,354,210
1.438,223
Total 2021
1,438,223
1,438,223
Analysis of support costs
Total
funds
2022
Total
fvnds
2Q21
Programmes
2022
Professional fees
14,916
14,918
11,30Q
Total 2027
11,300
17,300
Page 20

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Auditorfs remuneration
2022
2Q21
Fees payable to the company's auditor and its associates for the audit of
the company's annual accounts
Fees payable to the cornpany's auditor and its associ8tes in respect of..
The auditing of accoLJnts of the subsidiary of the company
Accounting services
Taxation compliance servi￿$
12,430
11,300
2,970
4,510
850
2, 700
4, 10Q
775
Staff costs
Group
2022
Group
2021
Company
2022
Company
2L121
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
1,550,900
165,411
966.350
98,370
1,550,900
165,411
966,35Q
98,37Q
27,253
16,949
27,253
16,949
1,743.564
1,081,669
1,743.564
1,081,669
The average nurnber of persons employed by the Company during the year was as follows..
Group
2022
No.
Group
2Q21
No.
Support Staff
42
24
The Number of employees whose employee benefits (excluding employer pension costs) exceeded £60.000 was..
Group
2022
No.
Group
2Q21
No.
In the band £60,001- £70,000
In the band £70,001- £80,000
In the band £80,001- £90,000
In the band £170.001 £180.000
The total employee benefits for Key Management Personnel was £117,79412021". £200,210).
Page 21

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Intanglble assets
Group and Company
Webslte &
Software
Cost
At 1 September 2021
82,793
At 31 August 2022
82,793
Amortisation
At 1 September 2021
Charge for the year
66,996
8,741
At 31 August 2022
75,737
Net book value
At 31 August 2022
7,OS6
At 31 August 2021
15. 797
Page 22

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
10.
Tanglble fixed assets
Group and Company
Plant and Fixtures and
machinery
fittings
Total
Cost or valuation
At 1 September 2021
Additions
33,662
39,601
233
33,895
39,601
At 31 August 2022
73,263
233
73,496
Depreclatlon
At 1 Septembei 2021
Charge foi the year
10.944
17,662
126
11,070
17,720
58
At 31 August 2022
28,606
184
28,790
Net book value
Al 31 August 2022
44.657
49
44,706
At 31 August 2021
22, 718
107
22,825
Page 23

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
11.
Flxed asset Investments
Investment in
subsidiary
company
Company
Cost or valuation
At 1 September 2021
100
At 31 August 2022
100
Net book value
At 31 August 2022
100
At 31 August 2021
10Q
12.
Debtors
Group
2022
Group
2021
Company
2022
Company
2Q21
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
$40,963
213.500
498,963
222,750
28,SOO
240.964
192,50Q
132,437
17,589
18,716
32,576
240.964
18, 195
18,716
814.503
250,411
991.177
361,242
Page 24

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
13.
Creditors: Amounts falling due within one year
Group
2022
Gft)up
2021
Company
2022
Compafty
2021
Tiade creditor5
104.862
44,439
99.372
43,569
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income
52,522
6,586
673,928
36.417
4.119
5Q4,215
52,522
6,586
669,008
36,417
4,119
499, 740
837,898
589, 190
827,488
583,845
GTOUP
2022
Group
2021
Company
2022
Company
2021
Deferred income at 1 September 2021
ReSoUr￿S deferred during the year
Amounts released from previous periods
479,774
350.000
1179,7741
50,000
479,774
(50,000)
479,774
350.000
1179.7741
50,OOQ
479, 774
(50,000)
650,000
479.774
650.000
479. 774
Deferred income relates to donations received in relation to the continous funding of the Alternatives Investment
Programme which was launched in the year.
Provisions
Group and Company
Dilapidation¥
Additions
9,250
9,250
Page 25

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
1S.
Statement of funds
Statement of funds - current year
Balance at 1
September
2021
Balance at 31
Expenditure August 2022
Income
Unrestricted funds
General Funds
2,010.182
3.423,991
12,391.1181
3,043,055
Statement of funds - prior year
Balance at
I September
2020
Balance al
37 August
2Q21
Income
Expenditure
Unrestrlcted funds
General Funds
569,593
2.916.987
(1,476.398?
2.010, 182
16.
Analysis of net assets be￿een funds
Analysis of net assets be￿een funds- current year
Unrestricted
funds
2022
Total
funds
2022
Tangible fixed assets
Intangible fixed a55ets
Current assets
44,706
7,056
3.838.441
1837,8981
19,2501
44,706
7,056
3,838,441
1837,8981
19,2501
Creditors due within one year
Provisions for liabilities and charges
Total
3.043.055
3,043,055
Page 26

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
16.
Analysls of net assets be￿een funds Icontlnuedl
Analysis of net assets between funds- prior year
￿n￿stricted
nds
2021
Total
funds
2Q21
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
22,825
15. 797
2,560, 750
(589, 190)
22,825
15, 797
2.560, 75Q
(589, 19Q)
Totsl
2,010, 782
2,010, 182
17.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2022
Group
2Q21
Net income for the year las per Statement of Finanaal Activities)
1,032,873
1.440,589
Adjustsnents for=
Dep18ciation charg8S
Amortisation charges
Loss on the 58le of fixed assets
Increase in debtors
Increase in creditors
17.720
8.741
10,012
12,079
48
(136,398)
454,974
1564,0921
257,958
Net cash provlded by operatlng actlvltles
753.200
1,781,304
18.
Analysis of cash and cash equivalents
Group
2022
Group
2Q21
Cash in hand
3,023,938
2.310,339
Total cash and cash equlvalents
3,023,938
2.510,339
Page 27

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
19.
Analysis of changes in net debt
At1
September
2021
At 31 August
2022
Cash flows
Cash at bank and in hand
2.310,339
713.599
3.023,938
2,310,339
713,599
3,023,938
20.
Operatlng lease commltments
At 31 August 2022 the Group and the Company had commitments to make future minimum lease payments under
non-cancellable operating leases as follows..
Company
2022
Company
2Q21
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 y88r5
82,732
451.B83
38.000
66, 191
6,650
572,615
72,847
The following lease payments have been recognised as an expense in the Statement of financial adivities".
Group
2022
Gft)up
2021
Company
2022
Compèfty
2021
Opei8ting lease rentals
63,330
55,650
63.330
55,65Q
Page 28

Docusign En¥ÈlopÈ ID." 5BFB559442F1425E-A427-1CA05COAAED2
SPONSORS FOR EDUCATIONAL OPPORTUNITY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
21.
Related party transactlons
There were £Nil12021'. £Nill of trustees, expenses paid during the period.
Donations made by trustees during the period totalled £Nil12021'. £Nill.
There were No trustees, remuneration or other benefits paid or incurred for the year ended 31 August 2022 nor for
the ye8r ended 31 August 2021.
The company is exempt under FRS 102 paragraph 33.1A from disdosing related party transactions with entities
that are wholly owned within the group.
22.
Prlnclpal subsldlarfes
The following was a subsidiary undertaking ofthe Company..
Name
Company Registered office or principal Class of
number
place of business
shares
Holding
SEO Connect Limited
07359677 41 Great Guildford Street. London. Ordinary
SE1 OES
100Y¢
The finan￿81 results of the subsidiary lor the year were..
Name
Incom8
Expenditure
ProfiUILoBsl
for thè yèar
Net assets
SEO Connect Limited
100,300
186,7921
13,508
11.801
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