THE PETER JONES FOUNDATION
For the yvdr ended 31 December 2024
THE PETER JONES FOUNDATION
ANNUAL REPORT & CONSOLIDATED ACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Company number 05321690. Charity number 1110288.

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
Index
Page
Legal & Administration
Letter from our Founder
Our Mission
Enterprise Skills Framework
Current Landscape
Tycoon Entery)rise Competition
Supporting Underserved Communities and Underrepresented Groups
Peter Jones Enterprise Academy and National
Entrepreneur of the Year
The Peter Jones Foundation Alumni
Ow Youth Panel
Our Partners
Supporting The Peter Jones Foundation
Fundraising Events
Yearend Position
Report of the Trustees
Independent Review
Principal Accounting Policies
Consolidated Statement of Financial Activities
Consolidated Balance Sheet
Charity Balance Sheet
Statement of Cashflows
Notes to the Financial Statements
10
11-19
20-21
22-24
25
26
27
28
29-35

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
L4al & Administration
lincipal Address:
Unit 183, Spaces Finsbury Park
17 CityNorth Place
London
N4 3FU
C]wity Number:
1110288
Company Number:
05321690
Registered Office:
Nthork House
Glo￿ Business Park
Third Avcnue
Marlow
Buckinghamshire
SL7 IEY
Trustees:
Ralph Tabberer CB
Ami Pattetson-Higgins
Stella Atherstone- Resigned 30 June 2025
Ayham Ayche-Appoint¢d 13 August 2024
Executive Chair
R Tabberer CB
Secretary:
J Holdgate
Bankers:
Barclays Bank PIC
Thames Valley Corwrate Banking Centre
PO Box 2481
Reading
Berkshire
RGI 4XX
Principal Solicitors:
Bates Wells LLP
l O Queen Street Place
London
EC4R IBE
Independent Examiner".
Michaelid¢s Warner
Accountants and Business Advisors
102 Fulham Palace Road
Hammersmith
London
W6 9PL

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
lttter from our Founder
l established The Peter Jones Foundation (PJF) in 2005 to help and support young people, especially those
from underserved communities and underrepresented groups, ofmy ttlKfthatevayyoung has
I toachieve •things and (kwKs the rightto ahightff fiAur¢. Wc have pDvid&l thOU￿d$ ofyow
kwith the enterprise skills and expericnces needed to better prepare thernKlv¢s for successful
employment or self-employment. Against a backdrop of unprecedentcd uncertainty and transformalive
advances in technology) it is more important than ever to nurture the entrepreneurs who will drive the UK'S
futur¢ prosperity and to provid¢ young people with the tools. opportunities. and inspiration to achieve their
ambitions.
We are proud to have cstablished groundbreaking programm¢s for young people at all key stages and to be
able to say that 970/0 of our Peter Jones Enterpris¢ Academy Alumni are in employmcnt, cducatioffj or
trainin& with 33 % having gone on to set up their own business. A lot will change overthe next 20 years. Still.
the essential skills we champion remain fundamenlal if w¢ are to fu]ty embrace the challenges ahead.
Our approach champions project-based le4rnin& providing young people with hands-on ¢hall¢nges rooted in
the real world of work and co-created with busin¢ss¢s and business founders from multiple sectors. Every
young peTson should have the opportunity to experience setting up and running a busin¢ss. Over the past 12
years, as we have delivered our flagship Tycoon Enterprise Competition, we proud to have provid¢d over
£314 million in start-up funding for student-led businesses. In addition, more than 6,000 students have
duatsd from one of our Peter Jones Enterprise Academies with a ￿0ballY reco￿]Sed qualification. As we
approach our 20th annivetsary year. it is inspiring to reconnect with many who have gone on to establish
SU￿¢ssfUl careers or start-ups and are now the wealth and job creators that are so important to communities
across the UK.
This year, we launched the Peter Jones Home Academy, providing the growing matket of ¢l¢ctive home
l¢arn¢rs with access to a widc rang¢ of resources and Op￿rtUnItieS to help them develop their enterpri
capabilÉties. Our vision is that this will become a platforn] to supportthe many hidden hustlers building
businesses out oftheir bcdT(x)ms. This year's National Entrcprcncur ofth¢ Year competition was won by a
graduate of the Pelerjones Home Academy, who is growing her own dance business in Manchester.
Thank you fortaking the time to fmd out more about PJF and how wc support schools and colIcges across
the UK. Whethcr you are from the world of education or busines4 we a￿ eager to explore how we can
collaborate with you to integrate ent¢rprise and entrepreneurship education and encouTage, educatc. and
¢mpowcr thc next generation.
Here's to a brighter future where dr￿nS do become realty.
si￿ed
Peter Jones CBE

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
Our Mission
The Peter Jones Foundation (PJF)'s mission is:
'%0 he]p aKI SUPFth young people I￿cause ofour ￿l]efthat'¢Very y(xll￿ Fcrson hasthe Wkntial to achieve gEat
things and deserves the right to a brightw fith". We provide young people, especially thos¢ from underserved
communitles, and underrepresented groups with the enterprise skills and experiences to better prepare them
for suc¢¢ssful employment or self-employment. W¢ do this through encouraging, educating. and
empowering th¢ people we serve.,
Strategic Goals
l. To support l 0,000 young people a year to set up and run their own business. providing startup
funding and demonstrating impact against our framework of 8 core enterprise skills.
2. Over ￿/0 of the young people we support are from underserved communities or underrepresented
oups.
3. We will champion enteryrise and entrepreneurship education and be a leading voice for creating a
more ente￿ris1ng culture, building a network of 500 enterprise ambassador4.
Enterprise Skills Framework
We track the impact of all our programmes against a set of eight core competencies which research shows
are both valued by employers and are a skill set for successful entrepreneurship. This framework aligns
Clo￿]Y with the Skills Builder toolkiL which is us¢d in many UK schools.
Teamwo
Communication
Financial Skills
Digital Skills
Creativity and Innovation
Self-management and Resili¢nc¢
Leadership
Problem Solving
Current Landscape
Now, more than ever, strong enterprise and entrepreneurship education needs to become embedded in the
curriculum so that w¢ can truly realise the potential and talent of young people across the UK. Young
entr¢pr¢neurs are a crucial part of the economy, driving innovation, creating jobs, and making a Posktive
impact on industry and communities across ihe UK. A report (by the Skills Builder Partnership) in 2023
estimated the total cost to the UK economy of depleted essential skills to be £22.2 billion. In this landscape,
the Foundation's work has never been more relevant and necessary. We have id¢ntified some of the recent
r¢s¢arch that highlights the importan¢¢ of our work below:
Almost two-thirds of young people dream of starting their own business, but only 160/0 manage to
take the leap (Federation of Small Businesses and Simply Business Repor¢ 2025).
Just 35 % of young people in England rep)rt having any exposure to Enterprise Education at
secondary %hool (Federation of Small Businesses and Simply Business Repo¢ 2025).
Over a quarter of young people have staled that they would be more likely to start their businesses if
they had received business or ente￿rISe training or education. (The Prince's Trust. Young
Entrepreneurship Review. 2021).

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
43 % of young peopl¢ from lower socioeconomic backgrounds would like to start their own business.
(Prince's Trust Youth Index 2024).
In 2022-23. 126,000 children were being home-schooled, up 70/0 from 2021-22, with the percentage
of parents citing mental health as the primary reason rising from 9 % to 130/0. (Department for
Education 2024).
Globally, young people are more entrepreneurial than ever. and on average, are founding ov¢r double
the number of companies than their older counterparts. (Entr¢preneurship Education, finncap
Group, June 2022,).
Tycoon Entsrprise Competition
The Tycoon Entery)rise Competition is a fre¢ national competition open to all primary and secondary
schools, as well as further education colleges, across the UK.
It aims to encourage the nation's budding entrepreneurs and develop core enterprise skills, Tycoon
businesses have access to a goodwill loan of up io £3,000 per schoovcollege and compete against each
other, with th¢ option for Multi Academy Trusts and school groups to set up their own leagues. Th¢ top
student enterprises in each Key Stag¢ are invited to a prestigious awards ceremony hosted by Peter Jones
CBE each year.
Tycoon Jmpact Since 2012:
17,200 Students have taken part in Tycoon.
1.483 Schools have been involved.
3,300 + Businesses have tL2ded.
87/0 of Businesses w¢r¢ profitable.
Over £760,000 has been loaned as start-up funding.
Over £250,000 has been raised from profitable student businesses and donated to g(K)d causes.
990/0 of teachers would recommend running Tycoon to a college.
890/0 of students felt that they had d¢v¢loped skills making them more employable.
950/0 of teachers felt that Tycoon had improved their students, financial awareness.
900/0 of students would recommend Tycoon to a friend.
Supporting Underserved Communities and Underrepresented Groups
PJF aims to hav¢ over 60 % of its beneficiaries come from underserved communities or underrepres¢nt¢d
groups by 2026. To define this, we e￿qMIne the percentages ofour l¢arners who are eligible for Free School
Meals (FSM), fall into the bottom two quintiles of the Encome Deprivation Affecting Childhood Index
(IDACI), or study at school with a below-average Attainment 8 score.
To help meet our goal, we are developing partnerships with organisations that target those facing the most
significant challenges in ternis of finding employm¢nt or self-employment. One such partnership is our
collaboration with Talentino, an organisation specialising in supporting providers for Special Educational
Needs and Disabilities (SEND).

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
This parthership is already proving to be a success. as you can see from the figu￿5 below.
Talentino data
18 teams submitted a business plan (13 schools).
6 teams submitted an evaluation.
£7,633.85 was sent in goodwill loans.
The Tycoon Overdll Winner for 2024 was Comm-unity Hub, a business that comp¢tcd in
Tycoon through our partnership with Talcntino.
Tycoon Overall Winner- Comm-unity Hub
Skills Centre Plus | Loan Amount: £493.851 Profit: £1,444.28
Eslablished by SEND students, this innovative business aims to address the limitations of existing
community hubs by providing a portable solution that caters to the specific needs of individual communitics.
By recognising that fixed locations can pose barriers for those with mobility or transport challenges, they seek
to bring essential services directly to communities in Scunthorpe and surrounding areas. Their portable
community hub offers a range of servi¢¢s tailored to each community's specific needs, including food banks
clothing banks, toy banks, social gatherings such as coffee mornings and knit-and-natt¢r sessions. as well as
workshops on digital skills, coding, and electrical repaiTS.
Peter Jones Enterprise Academy and National Entrepreneur of the Year
The Peter Jon¢s Enten)rise Academy (PJEA) is our flagship Educate Programme. It includes our full suite of
support for sector-leading vocational courses and qualifications in Enteryrise and Entrepreneurship.
We offer a comprehensive package of r¢sources and suppor¢ including curriculum-linked challenges
develo￿d in collaboration with businesses and entrepreneur4 as well as the opportunity for students to pitch
their businesses to Peter Jones CBE through our Nation￿ Entrepreneur of the Year (NEOY) competition.
To date, 5,750 students have graduated from ihe PJEA, with 960/0 indicating that they had a positive
experience, 90 % stating that the course met thcir expectations. and 73 % reporting that the course helpKd
th¢m develop their cn]ployabiEity skills.
Alongside the PJEA, our Peter Jones Hom¢ Academy program was launched in June 2024 and is d¢signed
as an online platforni for young peoplc interested in developing cntrepreneurial skills and cultivating an
entrcpreneurial mindset, with th¢ potential to launch their own business or side hustle.
This platforni is primarily aimed at 12- to 18-year-olds, especially those being home educate& and includes a
3&hour course on enterprise and entrepreneurship. Subscribers will benefit from a variety of unique
rcsources and opportunities to support the development of essential enterprisc skills for successful
employment or s¢lf-employment.
Every month. subscribers gain access to bite-sized challengcs crcatcd in collaboration with cmployers and
business foundern, along with monthly webinars and masterclasses f¢atirAng a diverse range of experts from
various fields.
Additionally> learners ar¢ invited to our annual awards ceremony. which Peter Jones CBE hosts. Young
entrepreneurs aged 16 and older have the chance to enter the Foundation's National Entrepreneur ofthe
Year competition. Those who demonstrate exceptional potential will be invited to pitch for a £5.000
investm¢nt at Peter Jones CBE's head office.

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
We were thrilled to learn that two of the finalists in the NEOY competition came through our Peter
Jones Home Academy programme in 2024, one of whom, Miah Maddock-Hodgins, won with her
business,'MCR Education Hub.,
Minerva Virtual Academy began trailing the program with their Year l O students as part of their enrichment
activities and with Year 12 students as part of their A l£v¢l Business Studies. This initiative was enhanced by
a series of live lessons led by our Head of Programmes. along with a guest speaker.
The Peter Jones Foundation Alumni
A bi-annual survey is conducted each y&gr to better un(lerstand the destinations of our alurnnA and their needs
in temis of ongoing support.
We are also keen to gauge their reflections on thc skills th¢y dcvelopcd whilc at the PJEA and on how
valuable these skills have been since graduating. Wc were delighted to collect 197 ￿SpOns¢S from our
datsbase and even happier to learn that 98 % were in employment, education, or training. 301 have set up
their businesses, with some achieving great success.
Some results of the survey w¢re:
5,750 s￿dentS have ￿aduat￿ from Pctcr Joncs Entcrprise Academy programme with L¢v¢l 3
qualifications in Enterprise and Entrepreneurship.
800/0 of PJEA graduates want to start a business one day.
98 % of our alumni are in further educatio￿ employment, or training.
300/0 of PJEA Alumni have their own business.
Communication is the skill most valued by Alumni since graduating.
940/0 of Alumni indicated they would be interested in mentorship.
Our Youth Panel
In addition to the Board of Trustees, PJF has a youth panel comprising between 8 and 12 young
people. generally aged between 16 and 25. The panel is a diverse mix of talented young advocates for
ente￿rise and entrepreneurship education who volunteer their time and act as a sounding board for
PJF. They ensure the demographic of our beneficiaries has a voice in our strategic and progryammatic
decision-making. PJF also offers youth panel members opportunities to support our work and events.
The youth panel meets quarterly, ahead of Board of Trustees meetings, and prepares a paper on a key
area of importance to present to the Trustees. Throughout 2024. key areas in which the youth pan¢1 has
contributed include plans for our 20th anniversary year, feedback on our strategy for securing
donations. and input on our Peter Jones Home Academy platforni and growth strategy.
Our Partners
PJF aims to continually develop and nurture relationships with a broad network of supporteTS, including
education providers, businesses, philanthropic individuals, and organisations, whos¢ interests and passions
for supporting young people align with ours. We are incredibly grateful to our network of partners, whose
contributions -4)oth in-kind and fJnan¢ial -have enabled us to continue expanding the scope of our work.
The Clare Foundation: The Clare Foundation supported PJF with a grant to help young peopl¢ in
Buckinghamshire develop enfrrprise skills and an entrepreneurial mindset. This wt
focused on driving participation from Buckinghamshire schools in the PJF'S Tycoon Enterprise Competition
and generating awareness of our Peter Jones Home A¢ad¢my programme among the county's growing
number of young people in elective home education.

THE PETER JONES FOUNDATION
For th¢ year ended 31 December 2024
AA Educates: AA Educates is a CIC dedicated to empowering young individuals from underserved
communities. equipping them with the skills ihey nccd to achieve their ambitions. In 2024, PJF collabornted
with AA Educates to develop and deliver a Leadership Skills Badge, allowing our beneficiaries to complete a
task designed to nurture and demonstrate a range of competencies associated with strong Icad¢rship.
Pearson: PJF has partner¢d with Pearson for many years and, through our PJEA programme, supports their
Level 2 and Level 3 qualifications in EnterpTiSC and Entrepreneurship. Thc government is reviewtng
vocational qualifications, and in this changing landscape, we are wojking closely with the relevant teams at
Pearson to develop new qualifications that will have broad appeal and sit alongside T- Levels as well as the
Extended Project Qualification (EPQ).
Pels Corner: Pets Corner has bccn a generous supporter of PJF for several years, offering mentoring and
stewardship to our National Entrepreneur of the Year finalists, as well as setting a Flash Challenge for our
PJEA studcnts. The challenge asks learners to consider the challenges facing high-street retailers and how
these can be addressed through creativity and technology. We were delighted to onc£ again benefjt from the
support of Pets Corner this year.
Supporting The Peter Jones Foundalion
PJF is fortunate to have access to an extensive network of philanthropic business leadeTS. entrepreneur4 and
organisations. Through a range of initiatives, they act as ambassadors for the Foundation, champion young
people, and help create opportunities for them to realise their potential.
Events and Sponsorship: In addition to our annual awards cer¢mony for beneficiaries, we host two
to three fundraising events EKryear. In 2024, we delivered a charity clay shool a charity golf event,
and our inaugural Race for Ente￿rist at Goodwood Motor Circuit, These events are always hugely
successful occasions, thanks to the tremendous support of those who purchase tickets and
participate in fundraisAng activities on the day, as well as the organisations that sponsor the occasion
and donate prizes.
Employee Engagement and Mentorship: For organisations or individuals interested in supporting
young entrepreneurs through coaching or mentorship, we offcr numerous opportunities that can
help en1￿]ce employee engagement and professional development.
Strategic Partnerships: We are keen to engage with any busin¢ss thal recognises the value of
supporting young pcopl¢, particularly those from disadvantaged backwunds. Working with PJF can
support CSR and ESG priorilics, hclping to deliver a meaningful impact in the community.
Fundraising Events
PJF holds several cxclusive fundraising events throughout the year, host¢d by our Foundcr, Peter Jones
CBE. Our events are attended by celebritics, friends of the Foundation, and our partners, making them
extraordinary occasions to networl have fun, learn more about our work, and raise as much funds as
possible to support the Foundation's programmes.
During 2024, The Peter Jones Foundation Charity Golf Day was held at the beautiful Foxhills Golf Club &
Resort in Surrey. Guests enjoyed 18 holes on a stunning golf course while taking part in a range of
fundrnising games and additional elements on the day, including meeting two of our Tycoon business¢s that

THE PETER JONES FOUNDATION
For the year ended 31 December 2024
visited to showcase their products and di￿￿SS th¢ pmgramme. The Golf Day raised £1 00,000 to support OUT
programmes and positively impact our beneficiaries.
The Peter Jones Foundation Charity Shoot is one of the most cnjoyablc cvents in the charity's annual
calendar. providing a fantastic opportunity to raise vital funds forthe children and young people we support.
Our Shoot Days are always fun and light-heartcd, with an edge of healthy competition. Held at the
prestigious Royal Berkshire Sh(M)ting School, guests enjoyed a mornlng of clay pigeon shootin& followed ty a
champagne reception, a three-course lunc￿ an auctioffj speeches. and entertainmen( which grossed an
incredible £150,000.
We wer¢ excit¢d to d¢liver a brand-new fundraising event in September 2024 at the iconic Goodwood Motor
Circuit in partnership with DTO Motorsp)rt. The Peter Jones Foundation Race for Entery)rise featured track
driving, stunt drivin& off-road drivin& a simulator experience, access to premium hospitality area￿ a
champagne reception, and lunch at Goodwood House.
We are ever grateful to all our supporters who attended this event and to all those who donated priz¢s for our
auctions and gifts-in-kind, for which we rais¢d oveT £120,000 on the day.
Yearend position
PJF rcwrt¢d a consolidated year-end deficit of £l18.5k in 2024, principally du¢ to our investment in new
programmes like our Peter Jones Home Academy programme, which supports the increasing number of
young people falling out of mainstream education and electing to study from home.
Having secured support for our National Entrepmieur of the Year programme for 2025, we have achieved
some early commitments from partners supporting our Tycoon programme at a regional level, while also
seeing strong advanced sales for 2025 fundraising events. We are optimistic that we will be in a strong
position by the end of 2025.

The Peter Jones Foundation
For the year ended 31 December 2024
Report of the Trnstees
The Trustees present their report together with the financial statements for the year ended 31 December
2024 which are also prepared to meet Ihe requirements for a directors, report and accounts for Companies
Act purposes.
Our Skntegic Plan
The total cost to the UK economy of low essential skills was estimated to be £22.2 billion by the Skills
Builder Partnership. The key objective of all PJF programmes is to develop these competencies
alongside a framework of eight enterprise skills. In doing so, we are not only enhancing the employability
of young peopl¢ but also their confidence, self-esteem, and aspirations. Importantly our work is focused
on doing this where it matters most. working with partners that can help us reach young people in the
most disadvantaged communities of the UK. For example, our collaboration with SEND specialist
Talentino, h&s significantly increased our reach and impact among those with learning difficulties. In
addition, by estsblishing our Peter Jones Hom¢ Academy programme, we are beginning to help those
who are falling through the cracks of mainstream provision, with 126,000 children being hom¢-schooled
in 2022123, up 7 % from the previous academic year, as report¢d by The Department for Education An
2024. We remain committed to ensuring that 600/0 of our beneficiaries come from underserved
communities or underrepresented groups.
Alongside developing essential skills, our programme gives young people the opportunity to explore
entrepreneurship and develop an entrepreneurial mindseL which is as valued by employers as it is a facet
of th¢ business founder. Globally, we are seeing an increasing number ofyoung people explore
entrepreneurship as a pathway or develop side hustles as a s¢¢ondary income source alongside iheir main
jobs. Technological innovations, particularly Al, will impact m(xlels for education. therefore, a curriculum
that places ￿eater emphasks on skills and entrepreneurialism in all its forn]s is needed more than ever.
Economies across the globe will always need problem solv¢rs, l¢ad¢rs, good communicator& and critical
thinkers. We need school leavers to be resilien( financially literate, and digitally literate. Running world-
class programmes that help young people nurture these skills and develop an ¢ntr¢preneurial mindset is
what The Peter Jones Foundation has been doing succesthlly for 20 years. i The Prince, s Trust found that
ov¢r half (52% ) of young people have "never been taught about rnnning [their] own business," yet over a
quarter have said they would be more likely to do so ifthey had business or enterprise training while in
education. Trustees believe that every young person should have the ¢xperi¢nce of setting up and running
a business while in education. as a vehicle for developing skills and as a means of exploring
entrepreneurship as a pathway.
I Princ¢sTDJst-ThB YoungEntrepreneurship Review2019-2021 pag¢ 15.
Against this backdrop, we have three core goals to achieve by the end of 2026:
l. To support the enterprise and entrepreneurship education of10,000 young people a year, offering
them the opportunity to set up and run a business, and demonstrating impact against our
framework of 8 core enterprise skills.
2. For over 600/0 of our beneficiaries to be from unde￿ry￿ communities or
underrepresented groups.
3. We will champion enterprise and entrepreneurship ¢dU￿tIOn and be a leading voice for creating a
more enterprising culture. building a network of 500 enterprise ambassadors.

The Peter Jones Foundation
For the year ended 31 December 2024
In addition, as an organisation, we are committed to three operationa] priorities:
l. Sustainability- we are committed to securing a diverse range of revenue streams, ensuring we
have the funds to sustain all our programmc activities at the high¢st standard and with the
appropriate staff Icvels.
2. Impact- we are committed to being able to demonstrate the impact of all our programme
activity through robust data capture and qualitativc research. We will ¢nsure that the impact is
proportionate to the cost.
People- we are comrnittcd to the health, well-being, and professional development of all PJF
staff and to making PJF a great place to work.
Our Legal Stths & Governance
The Peter Jones Foundation is a charitable company limited by guarantee (Company number 05321690),
incorporated on 29 December 2004 and registered as a charity on l July 2005 (Charity number 1110288). The
company was established under a Memorandum of Association, which established the objects and powers of
the charitable company, and is governed under its Articles of Association.
In 2023, as part of an ongoing governance review. Trustees approved amendments to PJF'S Articles to align
them with more traditional charitable articles. Thes¢ ¢hang¢s enable our Founder, Peter Jones CBE, to step
back from b¢ing a Trustee, whilst remaining involved as Founder. Trustees are pleased to report that the
updated Articles and an Endorsement Agreement support the continued independence of PJF. Trustees are
now focused on increasing the number of Trustees and the diversity of the Board over 2025 and 2026.
We extend our thanks to the continued support of our Board of Trustees and our dedicated staff, who have
guided The Peter Jones Foundation through another challenging year.
Peter Jones Foundation Trading Limited (company number 07794319) is a wholly owned subsidiary of The
Peter Jones Foundation for fundraising and trading activities which support The Peter Jones Foundation. In
2024, Peter Jones Foundation Trading Limited made an operating profit of £15,796 (2023: £47,295)-
Trustees report the post-balance sheet event of their decision to make the trading company dorniant from
July 2024. From this date, the company will no longcr bc actively trading) and donnancy will enable the
reduction of future costs. Should future trading opportunities arise, the company can recommence activities
at any time.
Objectives and Strategies
The objectives of The Peter Jones Foundation are to provide young people, underreprcscntcd gTOUPS, and
underscrved communities with the resources, skill& connections, opportunities, and cxperiences needed to
achieve successful employment or self-employmcnt.
The Peter Jones Foundation's approach to achieving these objectives continues to evolve. Over recent years,
and particularly since thc Covid-19 pandemic, we have invested a great deal of energy in enhancing our suite
of digital rcsources, making this a priority. As a resul( we are better positioned than ever to support schools
and colleges should they adopt more blended models of dclivcry going forward. In addition, we are working
to develop an offer for those who opt for home education, allowing us to expand our reach and provide a
platforni for entery)rise and entrepreneurship education for individuals outside the mainstream cducation
System, including those facing the most significant challenges in our communities. A further challeng¢ has
been adapting to an increasingly uncertain landscape for L¢v¢l 3 qualifications, as funding for vocational
qualifications, including the B TEC in Ent¢rpris¢ and Entrepreneurship, which sits at the heart of our Peter
Jones Enterprise Academy provision, is under review. In this climate, we have worked with providers to
adapt our provisio￿ offering broader support for enri¢hm¢nt as well as other qualifications, such as the

The PeterJones Foundation
For the year ended 31 December 2024
International Baccalaureatc. We are also examining how th¢ resources and opportunities provided by the
Foundation can support T-Levels, and, in collaboration with Pearson, developing new pathways in line with
the Department of Education's guidance.
The objectives and activities of PJF reflect the vision of Peter Jones CBE to cnable every young person,
regaTdless of background, to realise their potential and improve their lifc chance5.
Strategies employed to assist PJF with meeting its objectivcs include:
Delivery of our strategic plan and the Encourage, Educat¢, and Empower Programmes.
Development of direct digita] delivery, including exclusivc webinars, M&Ste￿laSSe￿ and challenges
developed in partnership with business leaders and entrepreneurs.
Development and delivery of our Peter Jones Home Academy programme. supporting young people
in elective home education.
Ongoing evaluation of our core activities.
Partnerships with school and college providers across the UK to deliver world-class qualifications in
business, enterprise and entrepTeneurship.
Our partnership with Pearson to develop and deliver enterprise and entrepreneurship education at
Level 2 and Level 3.
Promotion of the charity's core objectives via the media and social media.
Promotion of the charity's fundraising aims to the employecs, customers, and business partners of
companies within Petcr Jones CBE'S business portfolio.
Promotion of the charity's goals and aims via the TNstees and staff.
PR activity to highlight the charitys worf( and explain how people can get involved.
Delivery of our National Entrepreneur of th¢ Year programme.
Expansion of our Programmes to reach more under-represented groups and under-served
communities, including strategic partnerships with other non-profits working to support those at the
greatest need and risk of becoming not engaged in education, employment, or training [Tr￿E￿. and
those with special educational needs and disabiliti¢s (SEND).
Expansion of our Tycoon Enterprise Competition into intemational markets.

The Peter Jones Foundation
For the year ended 31 December 2024
Public Benefit
The primary way in which PJF currently delivers public benefit is through the advancement of education for
young peopl¢ and disadvantaged wups, particularly by teaching enterprise and entrepreneurial skills. By
providing practical. skills-based education through The Peter Jones Foundation, it provides public benefit:
Directly to students and young people enrolled in PJEA courses.
Through thc dcvelopn]ent and delivery of an innovative curriculum nationally and internationally,
working jointly with fvrther education colleges and schools, with support from other education
providers.
Through thc Tycoon Entcrprise Competition, aimed at school childTen aged 6 ycars and above,
which is frce for all primary and secondary schools. The competition Promotes and fosters
entrepreneurial skills in children by pmviding robust and comprehensive teaching resources.
templates and guidance. and participating children's, pitch, for a goodwill loan of up to £3,000 per
school to start a business and trade in school. Throughout the competition period. they will learn
vital skills such as t¢amwork, build their confidence, and refine their understanding of finances.
Through our Tycoon International Competition, aim¢d at the international school market.
Through free events, both online and in-person, such as our Igniting Enterprise webinars, which
connect young people and dÉsadvantaged groups with business lead¢rs, ¢ntr¢preneurs, and
innovators.
Through PJF'S Alumni Scheme, which supports graduates from the PJEA in their chosen pathway.
for example, by matching them with mentors or, for those starting a business, providing platforn)s
for them to pitch and seek investment.
Via consequential benefrts to the community at large.
Over the 2023124 academic year, the PJEA worked with 13 schools and colleges. The Tycoon Programme
supported 1,183 students. and PJF worked with numerous businesses entrepreneurs. and employers across
the county and beyond. Through PJF'S work, young people, underscrved communities, and
und¢rrepre5ented groups were given the opportunity to learn skills and gain confidence, giving them
improved chances in life to succeed on the path that is righl for them. The PJEA provides young people with
benefits that include interactions with etnployers, workplace experience4 access to career development
opportunities, start-up funding, and access to scale-up funding through th¢ National Entrepreneur ofthc
Year competition- all alongside a world-class qualification in Enterprise and Entrepreneutship. An ever-
increasing nUm￿r of anployers are seeking entrepreneurial qualities such as confidence, rcsilience,
deteTminatioJJ. and self-managemenL which the PJEA and The Tycoon Progratnme provide. As more young
people sei up side hustles and show an interest in entrepreneurship, our programmes remain as r¢levant and
vital as ever.
A survey of our alumni. carried out in 2023, indicated that 98 /0 were in employm¢nL cducation, ortrainin&
with 300/0 having started their own business.
The Trustees have not identifi¢d any significant harni or detrimentsl effects resulting from the Foundation's
activities.

The Peter Jones Foundation
For the year ended 31 December 2024
Trnstees and Key Management Personnel
The directors ofthe company are also trustees under charity law and, as such, are referred to as trustees
under the company's articles. Under th¢ requirements ofthe Memorandum and ArtAcles of Association,
one third of the Trustees must retire each year, and may be reappointed subject to a br¢ak from office
until the earlier of the anniversary oftheir retirement break or under exceptional circumstances wh¢reby
their retirement would result in the number of trustees falling below three.
The Trustees were..
R Tabb¢rer CB
A PatteTson-Higgins
S Atherstone- Appointed 2 January 2024 - R¢signed 30 June 2025
A Aych¢- Appointed 13 August 2024
The Tnjstees of the charity are committed to good governance and seek to operate the charity as
effectively and efficiently as possible.
The key management personnel of the charity were the Trustees and the Senior Executive Team,
including Managing Director Bill Muirhead, Head of Finance Shelley Wilkinson, and Head of
Programmes Rupinder Drew. The review of key management's pay is perfornied on a discretionary basis
by the Trustees.
Decision Making
The Trustees hold quarterly meetings to discuss matters relating to The Peter Jones Foundation. These
meetings are attended by the charity's senior executive team (Heads of: Finance, Programmes and
Partnerships) as well as the chair of the PJF'S Youth Panel, and are complemented by many more infornial
conversations which take place on a more frequent basis between the Trustees and key management that
facilitate the decision-making process.
Induction and Training of Trustees
When new trnstees are appointed to th¢ Bi)ar(L an induction and training programme is available. As part
ofth¢ir role, current trustees have attended various events and activitie5 that showcase PJF'S work,
which helps them understand how the programmes are delivered in practice and what the experience
means to th¢ students.
Ensuring Our WO￿ Delivers Our Aims
Our activities are subj¢ct to continual review throughout the year by both th¢ Board of Trustees and key
management. This review process helps us to ensure that all our activities remain focused on our stated
aims and objectives.
In this contex( the Board of Trust¢¢s can confimi that they have complied with their duty under Section
4 of th¢ Charities Act 2011 to have due regard to the Charity Commission's general guidance on public
benefit in planning and implementing all activities of the charity.

The Peter Jones Foundation
For the year ended 31 December 2024
Achievement
The government's continued rcvi¢w ofqualifications at Level 3 and funding for the BTEC in Enterprise
and Entreprencurship beyond 2026 remains unccrtain. This uncertainty has created a challcnging
environment in which to grow our PJEA n¢twod(. Trustees are pleased to rq)ort strong retention of our
providers and a Peter Jones Enterprise Academy network that continues to deliver strong outcome& with
a dedicated group ot"Schools and Further Education Colleges dclivcring pioneering enterpris¢ and
entrepreneurship qualifications. In this changing landscape, PJF continues to explore how it can support
learners taking up T-Levels as well as the growing number of young people in ¢l¢ctive home education.
The Trustees are pleased to report that during 2024 The Tycoon Programme has achieved great success,
as 1,183 more schoolchildren were given the opportunity to start their own business in a supported
environment. To date. we have made close to £760,000 available to more than 16,000 students. who in
turn, gain vitsl skills. Thetr development is tracked against a framework of eight CO￿ competencies:
Communication, creativity and innovation, digital skills fmancial skills, leadership, problem solvin& self-
managemen( resili¢n¢¢ and teamwork.
In 2024, we were d¢light¢d to host a successful Golf Fundraising Event at Foxhills Golf Club, a PJF
Shoot at Roya] Berkshire Shooting School, and The Race for Enterprise at Goodwood Motor Circuit,
which raised much needed funds that go towards the costs of our charitsble purpose. PJF is incredibly
thankful to all those who donated and generously gave prizes. Stron8 sales for 2025 events support
optimism to ￿peat this success.
As a charity. The Peter Jones Foundation receives over 630/0 of its annual income from grants and
donations given by individuals and organisations. In a year when many charities continued to face
uncertain and unstable revenue Stream￿ the financial support ￿￿1Ved as a resultof these events was critical
in enabling PJF to continue its work.
Investment Policy
Aside from retaining a prudenl amount of reserves each year. most of th¢ charity's funds are to bc spcnt
in the short term. so there are few funds for long-tcm investment. Having considered the available
options, the Trustees have decided to invest th¢ available funds in bank deposit acwunts.
Rescrvcs Policy
During the y¢ar, the Trustees reviewed the charity's rcquircm¢nts for r¢serves in light ofthe main risks to
the organisation. The level of Unrestricted Reserves at the yearend was £l10.Ok. The 2024 policy aims to
build back Unr¢stricted Reserves to be abl¢ to cover 3 months running core costs reaching a level of
£199.7k by the end of 2027. Reserves are held to cover unforeseen circumstanc¢s including any
unplanned reduction in incom¢.
2024 has been a challenging y¢ar and as a result The Peter Jones Foundation's Unrestricted R¢s¢rves
position has dropped by a significant amounL thus not achieving its Reserves Policy this year.
Trustees are confident that the 2025 outlook demonstrates their commitment and ability to achieve a
positive Reserves position with a planned 20th Anniversary Gala Event InNOvanl￿ 2025.

The Peter Jones Foundation
For the year ended 31 December 2024
Risk Management
The Trustees continue to identify and review the significant risks to which PJF is exposed. Operational
Management reviews risks at monthly meetings and identifies any key potential risks to the organisation
forthe Trnstees to consider. Contractual risks, in particular, are reviewed before being entered into to
assess and ensure that they will not significantly impact PJF'S ability to fulfil its objectives. The
appropriate insurance covers all significant insurable risks. The Finance and Risk Committee monitors
financial perforniance. further explor¢s areas of fjnancial risk, and makes recommendations to th¢
Trustees.
ststement on Systems and Internal Controls
As Trustees, we acknowledge we have overall responsibility for ¢nsuring that the charitable company has an
effective and appropriate system of control, financial and otherwise. We are also responsible for mainlaining
proper accounting records that disclose, with reasonable accuracy, the financial position ofthe charitable
company at any time and enable us to ensure that the financial statements comply with the Companies Act
2006.
W¢ also acknowledge responsibility for safeguarding the assets of the charitable company and henc¢ for
tiking reasonable steps for the prevention and detection of fraud and other irregularities, and to provide
reasonable assurance that:
The charitable company is 0￿rating efficiently and effectively.
Its assets are safeguarded against unauthorised use or disposition. proper records are maintained, and
financial infonnation used within the charitsbl¢ company or for publication is reliable.
The charitable company complies with relevant laws and regulations.
Plans for the Future
PJF has a thr¢e-y¢ar programme strategy that aims to grow our impact, particularly amongst those at the
greatest disadvantage, whilst ensuring the sustainability of our programmes and securing a diverse range
of ￿venue streams. Like many charities, we have found income generation a challenge since the pandemic
and have needed to utilise our reserves and closely manage our cost base. We look forward to returning
to growth in 2025 with an ambitious plan that focuses on several key areas across our Encourage,
Educate, and Empower programme strands. In particular, we aim to attract revenue- generating
partnerships to support the growth of our Tycoon programme on a regional basis, as well as the
expansion of our National Entrepreneur of th¢ Year comp¢tition.
'Encourage is underpinned by our national Tycoon Enterprise Competition. We have established severn]
strategic partnerships with organisations working with young people from underrepresentsd groups and
underserved communities, which will help drive reach and impact over the coming years. Alongside this,
we aim to recruit 12 regional ambassadors for the programme, known as Tycoon Initiators, who will help
fund and promote awareness of the programme on a local level.
Our Tycoon International programme is also a key area of focus for us over the coming year, during
which we will seek to expand our pr¢s¢nce in the UAE and China.
Th¢ core Tycoon programme will remain free to all UK schools and colleges, however, we are working
with P¢arson to develop an iteration of the programme that supports the Extended Project Qualification
(EPQ). which will incur a learner fee lo cover the costs of delivery and development.

The Peter Jones Foundation
For the year ended 31 Decemb¢r 2024
Our"Educate" strand is our netsvork of Peter Jones Enterprise Academies, currently 13 schools and
colleges across the UK. In 2025, we will continue to develop the Peter Jones Home Academy as an
¢xtension of the PJEA, so that the opportunities, previously exclusive to a relatively small group of
colleges and sixth forn]s, can be opened up to home learners. In addition, we continue to work with
Pearson to adapt our qualification offer in light ofthe DtE's review into qualifications at Level 3 and look
at ways we can support the delivery of T-Lev¢ls.
Our"Empower" programme has reconnected us to a network of PJEA alumni, whom we will continu¢
to support through our mentor matching service and a series of events.
Financial Outlook
Like many organisations, PJF continues to face chajlenges in an unCe￿in economic climate, as well as
ongoing challenges across the education sector. The ￿UCation landscape may become more settled with a
new government. Still, we anticipate that enterprise and entrepreneurship will continue to occupy the
enrichment space for many providers, and as such, not be a priority for increasingly tight budgets. In this
climate, we need to continue being agile, and our WO￿ to establish our p*JonesHome Academys as w¢ll
as ¢xplore how we can adapt our provision to qualifications like the EPQ and T-Levels, will help us retain
and grow the number of providers we work with. In addition, we enter 2025 with international
partnerships established in both the UAE and China, two regions of the world that are Ieading the way in
ternis of enterprise and entrepreneurship education, and so are well placed to grow our reach as well as
revenue in these geographies.
Finally, a new funding model for Tyc(K)n, through which the programrne will receive the backing of local
"Tycoon Initiators," will mean that this core offer has more stability and is sustainable a5 we continue to
seek a headline sponsor.
Whilst we ww revenue from pmgrammes, we will continue to deliver our ever-popular fundraising
¢vents.
The senior management team prepares and regularly monitors cash flow forecasts to ensure that the
charity can continue to pay its debts as they fall due. They also prepare operating budgets and forecasts,
which the Trustees regularly 'tevi¢w.
It has been necessary to draw down cash, through loans from PJ Investco Limited, during 2024 and into
early 2025, to cover core costs and salaries. The additional in¢ome received in 2025 to support our
National Entrepreneur of th¢ Year competition, alongside a Regional Tycoon Programme, from the
Partnership income stream, has eased this cash position, deeming additional loans unnecessary from
March 2025 onwards.
Anticipated additional income from a further 20 Anniversary Event at the end of 2025, with
anticipated surpluses of c£350k has assured Trustees that reserves will grow in the short terni to
achieve planned policy levels. There is no intention of current loans being called upon for repayment
in the foreseeable future.
Th¢se dev¢lopments, along with the continued financial and non-financial support of Peter Jon¢s CBE
and his group of businesses, have led the Trustees to conclude that the charity has suificient resources to
continue in operational existence for the foreseeable future.
Thus, the Trustees are satisfied that it remains appropriate to continue to adopt the going concern basis of
accounting in preparing the annual financial statements.
¢1 l)

The Peter Jones Foundation
For the year ended 31 December 2024
To conclude, we would like to take this opportunity to thank everyone who contributed to The Peter
Jones Foundation in the year, both in tern)s of financial donations and personal time committed.
Without these valuable contributions, we would not be able to deliver on our vision for the
Foundation.
Trust¢¢s' Responsibilities Statement
The Trustees (who also directors of Th¢ Peter Jones Foundation for company law) are responsible for
p￿parIng the TTUStees' Report and thc financial statements by applicable law and regulations.
Company law requires trustecs to prepar¢ financial statements for cach financial year. Underthat law, the
Trnstees have elected to prepare the financial statements by United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting standk￿ds and applicable law). Under company law,
the Trust¢es must not approve the financial slatements unless they are satisfied that they give a true and
fair view of the state of affairs of the charitable company and the group, as well as of the incoming
resources and application of resources of the charitable group for that period.
In preparing these financial statements, the Truste¢s ar¢ required to:
sel￿t suitable accounting policies and then apply than consistently.
Observe the methods and principles in the Charities SORP.
Make judgment and ac¢ounting estimates that are ￿asOnable and prndent.
Prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that
the charitable group will continue in business.
The Trustees are responsible for keeping adequate accounting ￿rdS that are sufficient to show and explain
the charitsbl¢ company's transactions and disclose with r¢asonable accurncy at any time the financial N)sition
of the company and enable them to ensure ihal the financial statements comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the charitsble company and. therefore, for
tsking reasonable steps to prevent and detect fraud and other irregularities.
The Trustees confirni that:
So far as each Trustee is aware, there is no rel¢vant infomiation of which the charitable company's
Independent Examiner is unaware.
The Trustees havc taken all the steps that th¢y ought to have taken as Trustccs to make themselvcs
aware of any relevant infonnation and to establish that the charitable company's Indepcndent
Examiner is aware of that inforniation.
The Trustees are responsible for the maintenance and integrity of the corporate and fmancial inforniation
included on the charitable company's w¢bsite. Legislation in the Unitcd Kingdom governing the prepardtion
and dissemination of fmancial statements may differ from legislation in other jurisdictions.
By order of the Board
R Tabberer CB
Trustee
A Patterson-Higgins
Trustee

The Peter Jones Foundation
For the year ended 31 December 2024
Michaelldeswarner
Independent Examiners Report to the Members and Trustees of the Peter Jones Foundation
We report to the Charity Trustees on our examination of the financial statements for the year ended 31
December 2024, which comprise the Consolidated Statement of Financial Activities, the Consolidated
Summary Income and Expenditure Account, the Consolidated and Parent Charitsble Company Balance
Sheets, the Consolidated and Parent Charitable Company Statement of Cash Flows and notes to the
financial statements, including a summary of significant accounting policies.
This report is made solely to the charity's Trustees, as a body, in accordance with Regulation 31 of the
Charities (Accounts and Reports) Regulations 2008. Our work has been undertaken so that we might state
to the charl￿5 Trustees those. matters we are required to state to them in an independent examinerfs
report, and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume
responsibility to anyone other than the Chariws Trustees as a body, for our work, for this report or for
the statement we have made.
Respertive responsibilities of trustees and examiner
As the charit￿5 Trustees of the company land also its directors for the purpose of company law) you are
responsible for the preparation of the company accounts in accordance with the requirements of the
companies Act 20061'the 2006 Act,).
Having satisfied ourselves that the accounts of the company are not required to be audited under Part 16
of the 2LK)6 Art and the accounts are eligible for independent examination, we report in respect of your
charit(s accounts as carried out under section 145 of the Charities Act 2011 {"the 2011 ACV)
It is our responsibilityto:
examine the accounts under section 145 of the Charities Act
to follow the procedures laid down in the general Directions given by the Charity Commission
under section 145(5I{b) of the Charities Act, and
to state whether particular matters have come to our attention.
Basis of independent examinerfs report
Our examination was carried out in accordance with the general Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the charity and a
comparison of the accounts presented with those records. It a150 include5 consideration of any unusual
items or disclosures in the accounts and seeking explanations from you as trustees concerning any such
matters. The procedures undertaken do not provide all the evidence that would be required in an audit,
and consequently no opinion is given as to whether the accounts present a 'true and fair vievf and the
report is limited to those matters set out in the statement below.

The Peter Jones Foundation
For the year ¢nded 31 December 2024
Independent examiner's 5totement
In connection with our examination, no matter has come to our attention:
{1) which gives us reasonable cause to believe that in. any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act, and
to prepare accounts which accord with the accounting records and comply with the accountin8
requirements of the Charities Act have not been met; or
{2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
Pavithra Sri Hari ACCA
For and on behalf of
MICHAEUDESWARNER&CO

The Peter Jones Foundation
For the year ended 31 December 2024
Principal Accounting Policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with
Accounting and Reporting by Charities: Statcment of Recommended Practice applicable to charities
preparing their accounts in accordance with the Charities SORP (FRS 102), "Accounting and Rq)orting
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)" {¢ff¢ctive I st January 2019) and wmply with the Chariti¢s Act 2011(Amcnded 2023} and
Companies Act 2006.
The principal accounting policies ofthe charitable ￿0Up arc set out bclow. The accounting policies have
been applied consistently throughout the year and the prior year.
Basis of consolidation
The group financial statcments consolidat¢ the financial statements ofthe private charitable company
limited by guarantee and those of its subsidiary (both registered in England and Wales). The financial
statements of each company in the group have been prepared to 31 December 2024. All intra-group
transactions are eliminated on consolidation.
The charitable company has taken advantage of Section 408 of the Companies Act 2006 and has not
included its own profit and loss account in these financial statements. The charitable group deficii for the
year of £118,492 (2023: deficit of £258,193) includes a deficit of £134,289 (2023.. deficit of £305,488)
which is dealt with in the financial statements of the parent company and a surplus of £15,797 (2023:
surplus of £47,295) forthe trading subsidiary, Peter Jones Foundation Trading Limited.
Going concern
Accounting standards require the Trustees to consider the appropriateness of the Going Concern basis when
preparing the financial statements and if necessary to explain how they have reached their conclusion.
At the time of approving the financial statements, creditors that have amounts due to them have ￿nfErnied
that they have no intention to call for repayment from the Foundation for a period of12 months.
The Trustees have reviewed the status of both its funding arrangements and future plans for a period of at
least the next twelve months from the date of signatLwe of these financial statements and are satisfied that it
r¢mains appropriatc to continue to prepare the financial statements on a going concern basis.
Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of th¢ objects and
mission of the charity.
Reslrieted funds
Restricted funds are to be used for specified purposes laid down by the donor / granting body. Expenditure
for thos¢ purposes is charged to th¢ fund together with a fair all￿atiOn of overheads and support costs.
Donations and gifts
All monetary donations and gifts are included in full in the Statement of Financial Activities when receivable,
provided that there are no donor-imposed restrictions as to the timing of the related expenditure, in which
case recognition is deferred until the pre-condition has been met.
No income is r¢cognised when ther¢ is no financial Cost borne by a third party. Voluntary help is not
included as income.

The Peter Jones Foundation
For the year ended 31 December 2024
Income from Educational activities
Learner income is recognised on a time basis as the courses are delivered.
Other income
Income is recognised when the charity has entitlement to the fund￿ any perforniance conditions attached to
the item(s) of income have been met, it is probable that the income will be received, and the amount can be
measured reliably.
Income from government and other grants is recognised when the charity has entitlement to the funds, any
perforniance conditions attached to the wts have been met, it is probable that the incom¢ will be received,
and the amount can be measured rejiably and is not deferred.
xpenditure
Liabilities are recognised as soon as there is a legal or constNctive obligation committing the Gharitable group
to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under
headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs inCU￿d by the charity in the delivery of its activities and
services for its beneficiaries. It includes costs that can be allocat¢d dir¢ctly to such activities.
Allocation of costs
In accordance with the Charities SORP, expenditure has been analysed between the cost of genernting funds,
the charitable company's charitsble activities and governance. Items of expenditure which involve more than
one cost category have been apportioned on a reasonable, justifiable and consistent basis for th¢ cost category
concerned. Central staff and support costs ar¢ allocated on the basis of time spent on each activity and
depr¢¢iation charges on the basis of the proportion of the assets, use, which is utilised by each activity.
Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements
of the charity and include the Independent Examination andlor audit fees and costs linked to the strategic
management of the charity.
Tangible Fixed Assets
The foundation does not hold any fixed assets or assets of any material value. Assets have been fully disposed
of at December 2023.
Should any assets be acquired in the ￿tUre depreciation would be calculated so as to write offthe cost of an
asset, less its estimated residual value, over the useful economic IAfe ofthat asset as follows:
Furniture and fittings
Building costs
Office ￿UIpMent
4 years
5 years
4 years
Financial instruments
Financial instruments are recognised in the Balan¢¢ Sheet when th¢ charity becomes paty to the
contractual provisions of the instrument.
During 2024, PJ Investco Limited loaned PJF £1 00,000, reclassifying £80,000 as a donation during
2024. The remaining £20,000 is categorised as a long-tffln liability in compliance with FRS 102.
Under accounting standards FRS 102 the loan is measured at fair value and will remain so as p¢r the tenns
of ihe loan agreement.
All other basic ffftancial instnjments are initially ￿wISed at transaction value and subsequentty carried
at amortised cost using the effective interest method.

The Peter Jones Foundation
For the year ended 31 December 2024
Retirement Benefits
Full time and part time staff employed under a contract of service aTe eligible to contribute to th¢ Scottish
Widows Pension scheme. Eligible staff can contribute up to a maximum of ten percent and employee
contributions will be matched up to 50/0 by the charitable group.
Th¢ s¢h¢m¢ is a defined ¢ontribution pension scheme. The assets of the scheme are held separately from
those ofthe charitable wup. The annual contributions payable are charged to the Consolidated Statement of
Financial Activities.
Operating lease commitments
Where operating leases are entered into, rentals paid are char8¢d to income on a straight-line basis over the
lease terni.
2411,

The Peter Jones Foundation
For the year ended 31 December 2024
Consolidated Statement of Financial Activities (including income and expenditure aeeollnt)
Restricted
Funds Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
2024
Income:
Donations and legacies
1552
121,410
122962
29,195
Income from Charilable aclivilies..
Educational activities
86,084
8￿084
96,428
Incomefrom oiher Irading aelivilies..
Fundraising events
Sponsorship and trading
370ffj35
16ffj67
370,635
16,667
158,309
50,000
Total incoming resources
1,552
594,796
$96J48
333,932
Expendilure:
Cosls ofraislngfun￿..
Funthxising events
Sponsorship and trading
(269,187)
{ 871)
(269,187) (121,986)
871)
{2,705)
Expendilur¢ on ¢harilable aclivilies..
Educational activities
(5,003) (431,779)
{436,782) (460,434)
Grants
( 8,000) ( &(MIO)
{7,000)
Totsl expenditure
(5,003) (709W7)
(714040) (592.125)
Net incomel(expenditure) and net
movement in funds in the year
(3,451) (115,041)
{118A92) (258,193)
Transfers between funds
15
{ 9,997)
9,997
Reconeiliation of funds
Total funds brought forward
15.000
110,026
125.026
383,219
Total funds carried fonvard
1552
4,982
6,534
125,026
The statement of fmancial activities includes all gains and losses in the year. All income and
expenditure derives from continuing activities.
The ￿0Mpanying policies and notes forni an intewl part of these fmancial statements.
25

The Peter Jones Foundation
For the year ended 31 December 2024
Consolidated Balance Sheet
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Total
2023
Note
Fixed assets
Tangible assets
11
Current assets
Debtors
Cash at bank and in hand
13
94276
13
55
108,131
94276 223,629
15 407 32 059
1119.683 225,688
1552
Creditors: amounts falling due witbill one
year
14
(83,149)
(83,149)
,149) (130,662)
(83,149) (130,662)
Current assets less current liabilities
1552
24,982
2fj534 125,026
Long Tem Liabilities
Long Term Loan
20
Net assets
The funds of the charity:
Unrestricted income funds
Restricted income funds
15
15
4,982 110,026
1,552 15,000
1052
Total chaiity funds
For the financial year in question the charitable company is entitled to ¢x¢mption from audit under section 477
of the Companies Act 2006 for year ended 31.12.24. The members have not required the company to obtain an
audit of its fjnancial statements for the year in accordance with section 476 of the Companies Act 2006. The
trustees acknowledge thcir responsibility for complying with the requirements of the Act with respect to
accounting records and for the p￿paratiOn of financia] statements. These financial stateJn¢nts have been
preparcd in accordance with the provisions applicable to compani¢s subject to the small companies regime.
The notes on pag¢s 31 to 37 fonn part of these accounts.
They ar¢ approved by the Board of Trustees and authorised for issue on 26 September 2025 and signed on its
behalf by:
R Tabberer CB
TTUStee
A PatteTron-Higgins
Trustee
26

Tbe Peter Jones Foundation
For th¢ year ended 31 December 2024
Charity Balanee Sheet
Restricted Unrestricted
Funds
funds
2024
2024
Tolal
2024
Total
2023
Note
Fixed assets
Tangiblc assets
Inv¢stments
11
12
Current assets
Debtors
Cash at bank and in hand
13
94276
13,855
108,132
94376 218,628
15,407
32,051
109ffi84 250,680
1552
I￿52
Creditors: amounts falling due witbin one
14
(98,946)
(98,946)
(98,946) (172,949)
(98,946)
77,731
Current a&8ets less eurreDt liabilities
1552
9,186
10,738
77,731
LA)ng Term Liabilities
Long Terni Loan
20
20.000
20,000
Net Assets
52
10
14
62
Unrestricted funds
General funds
Restricted funds
Restricted funds
15
(10014)
(10014)
62,731
15
1552
IA52
15.000
General funds
1052
(10,814)
(9262)
77,731
The notes on pages 31 to 37 forni part of ih¢se accounts.
They are approved by the Board of Trustees and authorised for issue on 26 September 2025 and signed on its
behalf by:
R Tabberer CB
Trust¢¢
A PattersonryHiggins
Trustee
27

The Peter Jones Foundation
Statement of Cash Flows and Consolidated Statement of Cash Flows
At 31 December 2024
Group
2024
Group
2023
Charity
2024
Charity
2023
Note
Cash used in operatillg activities
18
(36,652) (196,448) (83,939) {281,358)
Cash flows from investing activitie8
Cash provided by (used in) invesling
activities
Cash flows from financing activities
20,000
20,000
Cash used in financing activities
Incre&se /(d¢crease) in cash in the y¢ar
Cash at the beginning of the year
228
07
198 405
2024 Profits Donated io Charity
47295
115.004
Total eash at the end of tbe year
28

The Peter Jones Foundation
Notes to the Financial Ststements
For the year ended 31 December 2024
Donations
2024
2023
Donations from PJ Investco Limited
80,000
Other donations
Total income from donations
Educational activilies
2024
2023
Learner income from commissioned colleges
Royalty income from qualifications
Incom¢ from schools and other educational activities
39580
10,093
5J88
43,420
11,839
7.725
Flash challenge
PJEA learner fees
Totsl income from educational activities
Fundraising events
2024
2023
Income from fundraising events
Costs of fundraising events
Net funds raised
370,635
269 187
158,309
12] 986
29

The Peter Jones Foundation
Notes to the Financial Statements
For the year ended 31 Decernber 2024
Sponsorship and trading
Th¢ charity's inv¢sttnent in the subsidiary company is included at cosL
The wholly owned trading subsidiary Peter Jones Foundation Trnding Limited is incory)orated in England and
Wal¢s (company number 07794319) and pays all its profits to the charity as corporate Gift Aid donations.
The principal activity of Peter Jones Foundation Trading Limited is th¢ trading activities of the charity which
includes sponsorship support.
The summary financial perforniance of the subsidiary alone is:
2024
2023
Turnover
Administrative expenses
Net income
16,667
(871)
15,796
50,000
(2,705)
47.295
Distributions to par¢nt ¢harity under gift aid
Net movement in the subsidiary
(47295) (115,004)
(31,499) (67,709)
The &8sets and liabilities of the subsidiary were:
2024
2023
Current assets
Current liabilities
17072
61,809
(2,075) (14,513)
15,797
47,296
Total net a&*ts
Capital and re5ery
Called-up equity share capital
Profit and loss account
15,796
15,797
47,295
47,296
Analysis of expenditure on charitable activities
2024
2023
Educational aclivilies
Education support and outreach
Promotion and marketing
Support costs (sce note 7)
Governance costs (see note 8}
254,717
103955
74,545
212,832
110,633
129,511
30

The Peter Jones Foundation
Notes to the Financial Statements
For the year ended 3 l December 2024
Grants
2024
2023
Grant for National Entrepreneur of the Year 2024
Additional Grant for National Entrepreneur of the Year 2024
Winner of Tycoon Competition 2024
5,000
5,000
1,000
1,000
7,000
1,000
The Peter Jones Foundation approved a grnnt in the year of £5,000 (2023: £5,000) from corc funds to Miah
Maddock-Hodgins, wi[￿er of the PJEA National Entreprcneur of the Year. Further grants totalling £2.000
(2023: £1,000) were given to the runn¢r up and finalist of the PJEA National Entrepreneur of the Ycar. An
award of £1,000 (2023 £1,000) to the ovcrall winners of the Tycoon Competition.
7 Sllp￿rt Costs
2024
2023
G¢ncral office
Salaries and Lrlat&4 costs
40,650
63,055
G0ven￿llee Costs
2024
2023
Independent Examination of financial stat¢ments
Non-audit Services
3565
4,000
3,565
7,459
Trustees and employees
The average number of employees during the year was 7 (2023: 8).
2024
2023
Wages & salaries
National insurance contributions
Pension contributions
Statutory Maternity Pay
345243
32,804
17,064
325,896
31.373
14,796
387J76
364,079
The emoluments of higher-paid employees fell within the following tanges:
2024
2023
£60,001- £70.000
£70,001- £90,000
£90,001- £120,000
31

The Peter Jones Foundation
Notes to the Financial Statements
For the year ended 31 December 2024
Contributions relating to the defined contribution scheme were paid in respect of a higher paid employcc
in the year was £4,368 (2023: £4,368). Th¢ tolal amount of employee benefits received by Key
Management Personnel was £102,528 (2023: £102,528).
Wages and Salaries includes £NIL (2023". £NIL) in redundoncy payments made during the year.
No other trustees or persons wtth a family OT business connection with a Trustee, received remuneration
in the year, directly or indirectly, from the charity, and no expenses were reimbursed to Trustees (2023:
£NIL).
10
Taxation
As a charity, The Peter Jones Foundation is exempt from tax on income and gains falling within section
505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these
are applied to its charitable objects. No tax charges have arisen in the Charity.
11
Tangible fixed assets- group and charity
Th¢ foundation does not hold any fixed a&sets or assets ofany material valu¢. A5￿ts have been fijlly disposed
of at December 2023.
12
Investments
The charity holds a share of£1 in its wholly owned subsidiary Peter Jones Foundation Trading Limit¢d which
is incorporated in the England and Wal¢s. This is the only share allotted, called up and fully paid. The
activities and results of the company are summarised in note 4.
13
Debtors
Group
Charity
2024
2023
2024
2023
Prepayments and accrued income
Tycoon Loans Outstanding
Trade debtors
Amounts owed by subsidiary
23,462
29,037
41,777
129,099
30,486
fv1,044
23A62
29.037
41,777
129,099
30,486
59.043
94276
223,629
94276
218,628
14
Creditor&: amounts falling due within one year
Group
Cbarity
2024
2024
2023
2023
S(Kial security and other taxes
Trade creditors
ACc￿￿lS and defe￿ed income
Pension contributions
Amounts owned to Subsidiary
14931
6,405
59,759
2,054
11,523
49,633
67,095
2,411
14,931
6,405
57,684
2,054
17072
98,946
9,023
39.820
64,895
2,411
56,800
172,949
83,149
130,662
32

The Peter Jones Foundation
Notes to the Financial Stat¢m¢nts
For the year ended 31 December 2024
Deferred income
Group &
Charity
2024
Deferred income brought fonvard
Amounts released from previous years
Income deferred in current year
tkf¢rr¢d income carried fornvard
67,095
{67,1V)5)
At the balance sheet date the charity and group was holding funds received in advance for a PTogramme of
works to be delivered post year end, and for fundraising events due to take place during 2025.
15
Funds- Group
Restricted
Funds
Unrestricted
Funds
Total
As at l January 2024
Transfer
15,000
(9,997)
1,552
110,026
9,997
594,796
709 837
125,026
Incoming resources
Expenditure
At 31 December 2024
596,348
714 840
Funds- Charity
Restricted
Funds
Unrestricted
Funds
Total
As at l January 2024
15.000
62,731
77,731
Transfer
(9,997)
9,997
tncoming resources
1,552
625,424
626.976
Expcnditure
At 31 December 2024
708 966
33

The Peter Jones Foundation
Notes to the Financial Statements
For the year ended 31 December 2024
15 Cont.
Restricted Funds-
Group and Charity
Resilienl
Entrepreneur
Programme
Fund
ycoon
Total
& VTEP)
As at l January 2024
Incoming resources
Transferred to
Unre5trieted
Expenditure
15,000
15,0(M)
1.552
1.552
{9.997}
(5.003)
(9,997)
{5,003}
At 31 December 2024
Sa É Fund
T coon & VTEP
This fund was awarded in September 2020 to support those leaving military service through the Veterans
Tycoon Enterpris¢ Pr0￿me (VTEP). This programme has now concluded and the balance of the fund has
been transfeTred to Unrestricted Reserves.
Resilienl Enlre reneur Pro
mme
Resilient Entrepreneur is a short online course to support young people with developing mechanisms for
Coping with stress and developing resilience in the context of running a business or more broadly, in the
world of work. We worked with an established provider to adapt a Preparation for Adult Life (PAL) course
that encourages potential and personal responsibility in young adults and links to the PSHE curriculum, with
a view to piloting the programme with a cohort of students in 2025.
16
Related Party Transactions
PJ Investco Limited is related to The Peter Jones Foundation by virtuc of it being wholly owned by
Peter Jones CBE.
During 2024 PJ Investco Limited donated £80k (2023: NtL) to the Peter Jones Foundation.
17
Operating Lease Commitments
At 31 December 2024 th¢ Group had commitments for future minimum lease payments under operating
leases as set out below:
During the year £12,793 Telating to operating lease costs was r¢¢ognised in the Stat¢ment of Financial
Activities (2023: £18,903).
34

The Peter Jones Foundation
Notes to the Financial Ststements
For the year ended 31 December 2024
18
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2024
Group
2023
Charity
2024
Charity
2023
Net movement in fLmds
Decrease /(increase) in debtors
Increase l(decrease) in crcditOTS
Net cash used in operating
activities
(118,492)
129J53
(47J13)
(258,193)
7,967
53,778
(134288)
124J52
(74,003)
(305,488)
(87,219)
111,349
(36.652)
(196,448)
(83,939)
{281,358)
19
Pro-bono serviees
During the year, PJF received legal, HR and IT supporL as well as Peter Jones CBE'S image rights, on a
pro bono basis from Peter Jones CBE/companies controlled by Peter Jones CBE.
20
Long Term Liability- PJ Investco Limited
During the year, PJF received loans from PJ Investco Limited to cover staff salaries and core costs.
During 2024, £80,000 was reclassified as a donation to the charity, leaving a remaining balance of
£20,000.
35