Registered number. 05488351 Charty number. 1115888 THE SOCIAL MOBILrrY FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 LUBBOCK FINE LLP Chartered Accountants PaterTh)ster House 65 St Paul's Churchyard Lornlon EC4M 8AB
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) CONTENTS Page Reference and Administrative Details of the Charitable Ccmpanyy its Trustees arnl Trustees. Rewrt In(kpendent Auditors. Repc4t 9-11 Statement of Financial P£tMties 12 Balance Sheet 13 statement of Cash Flows 14 Notes to the Financial Stalements 15-32
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) REFERENCE AND ADMINISTRATIVE DAjLs OF THE CHIlTABLE COMPANY, s TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2020 Trustees Rt Hon Akn Milbum, Chairman Narnrata Patel Lee Cain Fiona Da Thesa Loar Lord Sluart Rc6e Cr Bandhana Rawal HeKler Ridk Ben FtKlham Company registered number Charity registered number 111 Registered t)ffke The TiMryard 17 DrFdale Street LcThlon N16ND Chief Executive David Johnstrn OBE (rasignl 30 veMEr 2019) Sarah AU£inscn (apW1n 2 January 20} Independent auditc Lubtth£ Fine LLP Chartered Accoun12nts & St2trJicry AKlitors Paiemsier Hc 65 St Paul's chuthYal LcrKlon EC4M 8AB Banke Coutts & Co 440 Strar L(lOn WC2ROQS Legal Athiso Baker & Mo*<enzie 100 New BrKIF Streel Lc¥Klon EC4V 6JA PaJe 1
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2020 TIE Tru%Èes (WIK) ¥e also directys of the Charity the puryx)ses of the Companies Ad) present their annual repcrt trgelher th the aLKI1 firFncd stat8nents of The ScEial M()ility FourKlaltn (the CFority) for tre Sear Klirg 30 SetAerNLEr 2020. Tre annual report serves tIE purpose of LK)Ih a Trustees. report arKI a directors repcrt Urer ccmpany kw.TIE Truste&s c(ffirffl Ihat the Annual Retmjt and finanoal slaternents OF the CFority cornpty wih the current s13tsJtory u1rnents, the r4uirements OF Ihe Charitys 9)wnirYJ (tument arvj ihe Frovisions of trE Staiement of Recommended Practi (SORP), a[plable to charities pretHring their acLDunts in a(lancE the Financial Rng Standard arplica) in the UK Repj1IC of ItEland (FRS 102) (effective 1 JanLwy2015). sin the Charity qualifies as small Un seclrn 383, strn18J rewrt required of mliuM and large companies undw The Companies Acl (strateg Rew)rt DIa0S Rewrt) Regulat6 2013 is r Ulr1. AcTIVlEs AND KEY AcHIEVEMEs The ScKaal Mcl)ility FoUnckI C'SMF) has urKlergone significant ttorge in tHKJd sirLE the last retKYi. Flanned changes Iruded ihe aptK)inlment of Sarah AlkinSc as chief exe(xrtive. following the resignation of David Johnston OBE after ten years kadirg the SMF: arKI the launch of ihe SMF'S rew adV(aCY arKI campaKJrs arm. the Departrt for Opportunit, in eaty 2020. MaFY unplanrl cwnF was ihe COVltk19 [ndemIC in early 2020 and the resulting reststions on movenen( meanirg all the SMF'S arKI (yjMmeS moved online from Mah 3> with all staff woting home. The SMPS iEneficiaries. disthntaged youro W)e. We alwdy S likety to xcess elite universities and OfessicS than their ltter-off FEe. balS they face have COMUn. and rEw CeS creat. as a cOns4Uen of COVID 19. While no kn experiCeS of the parKletnic have teen the same. (r)mmon oblems anong efiary glp have 1rdudl disNpled schcKAirg crnipounded ty a lack of quiet spa to siudy arKI In1Uate aCsS to technolcw. ggnifK2ntly w1ucl provisrn of extra-UIar activitEs: and the negalive impact m1 health. The Paem has reVed a cknde of prcxJress in dosirg the attainmtt gap. However. the SMF was ab to move quickly to undernd and resnd to the needs and comrnS of our LEneficiarEs, arvj adapl cxjr prcxJramme and otFEr actwities ordIrgIy. We reign cxjr Frogramme content arKI actiwties for onlire deliw, creat1 rLw acVitES and strands of support to m1 the emergirE ne of cxjr cofKrt and refcused cr and campavJrs kn to focus on Ihe impact of [n1C on SC1 mobilty arnl ensure the )ICeS and ex[r£S of disadvantaged Ycng rEople are amplifth. As this port shows, the SMF has dancnstrated financ& and cKginIsaia1 resilien and Ikxibilty througkKut 2019) and is aLAe to demonsts3te the Continu relan of al1 diffe[m we make. As we Ik akEad, the trust are detemii1 to buikl on al trE leamiro from this pericKI of Ce and to erEure the cryanisalKn is well pl to ensure Slec(M divetEitysits at IFE heart of the ecommic rErovwyfiDm the ndemic and that Ycng rEorAe from disa(fvantapJ bad(gtDunds a able to fvlfil their rM)tential. irin Professionals Pr rdmme Our five ar stu(Ènt woJramme, the Aspiring Prof&ssicn31s FtoJramme, ntinUeS to gn)w in soile arnl Imp1. Students apply to pin troJramme ag 16117 and dendIng on their home locaticn and career a$pl(rE, are mitt&J to crE of three strands: APP City- For stlKIts Imro in and near Bimingham, Cardiff, Glasgcw. Las. Liwtrd. Lon(t)n. Manchester, arnl Nslle. APP Residential - For siudenis anwhere in the UK ouisi(È Lon(lJn. offering insight into a Sp1 tor wilh a top emloyer - in 19) induding ANp, Akin Gump, BP. Clifford c1k4n, Freshfields. Hettsrt Smith Fehills, J.P. Man. KFfvIG, Linklatets. PA Consultiro. arnl White & Case. APP Reach- For wung the UK outside ourtsrget aties. es[llY in Sc1 mobility ,k1 spots.. Page 2
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 The prcMJramrne is desigwl arourKI our comFEtency framework. Buiklirg My Future. which is based the Gatsby Benchmarks for career devet)pment set out in 2013 arKI has LEen (Èveb@ and refreshed ow the last 8 yeJs in lire with eMgir¥J research and practice. Siu(Ènts on tre prcKJramme are offered: Mentoring frorn a Klunteer professic¥BJ in their chxen career sector Taikyed SUFwi for kKK)l &udents to apply to selectwe universitEs. ill11r0 visiis, gUKlan and SUFPOrt wilh makiro infomi&l cK)ices. arKI kElp with appIatiOnS Careers advi and WO eX[Eren plarna in empbyers wiihin trEir ch)sen sg WotksFKps to (Èvelop g(ills induding cOnfi(kn, neiwothing, public speaking and commeial aware Taled support ard advi(E for un(Èrgt2duales inlarthip, graduate pipelirÈ and gradLLqte pb q)pnIknes irdudirg CV a(fvi and y&inteNiew cothing We rcI13y29 stLKlents from 18 schcols arKI colleS on our 2020 prcgramme (a 10 /u increase on 19) across 11 career Ss.. accountancy, archiljre, iA3nking & firen. tiolcgy & chemisty, busines& diJilal. ireerirE & Fty6ics, law, rnla & communithns, Mc1r and FKAiknGS. A(ÈptirYJ ihe prcKJramrne for online delw frcm Wil 2020 brcught bolh Cj&S and LEnefils. Online delivery ald us to ircrease our reach and engagement with stlents, esIallY amorg un(Èrgraduates, and gave a more nSIStent eX[Erien lo stu(Ènts across ttE UK; on avera 1¥10 mcre stu( atterKI virtual skills sessions Qpared wth previous in-person events. Where emwyer partners were unae to adatA their anrEd WO for virtLBI delw, we created SMF-hostl virtual pLacements off1r insvJhts plOYe auoss a Ggrr sedor. we offer1 913 plaments to our 20 c£knt invcAving 80 emrk)yetB. Meniorirg was atle to tinue Sin we were almdy using &mentrxing plaifcmm to le stucknis and mentors to Communale online" this rmllar of the ycyJramme was vilaj in 3Y20 as it rmvided students with an ins•3ht into the worf(iru worfd from a Yof10nal despite the pandemic tiictS.197l volunteer ptDfesgonals mentcyed SMF stLKlerts durirg 21Y20. We hosted virtual mentcy-mentee Mt-UpS durirg summer wth 614 mentoring pairs atterKlirg at least session. Wrfh reslriclK)ns crooing we ex to ddiver most of the 21Y21 tryramme virtually. In the longer term, we wll explcye a blend of virtual arKI fa4fa thlivery to ensure the LEst tKwible suptx)rt for SMF stunIS and trepare them for changing wodd of. ramme outcomes and im TrE pals and t[e8 for the APP are to.. Raise trE aspiraticns. Conftle£ and skills of hvJh-achEviro youru people from Iow-income families across ihe UK- measu1 thUgh siudent evaluation of c(fi(the. krw(Je and asrmrations HIgh-achiev young rEople frcm th4rcome familES io improve kno&1 and abilty to enter top universilies - measured IhroLKJh stucÈnt ewaluakn of CcrfKIen and kNoWje, and sludent ouicane5 (university offers and admissiors) High-athievro yourKJ FEople from Icw-income families to irKxease their abilty to make comFEtitwe applications for internshiFBlgradLHte roles wih prestigicxB etnFAoyers in trEir preferr1 career StOr - Measur thrcuJh slu(knt evaluation of cor(FKlence and knge, stLKlent evalLFlTh of impact of SMF supwrl, empbyer evalualion of proJramme. stLKlent outcnmes (lnienl a1 graduaie piOine cppc*tJnilEs secur&l, aumni in full time employment further thdy, alumni in highty-skllI em00ymft) In 21Y20.' J /0 of stLthrts in 2(LO said they could not FEve obtain1 the work tJac£marts they did wthout trE SMF (19= 95/0 92 /0 of audents in increas1 their cCrf1den in makiro a rrofessK)nal imrressKn (2019.. /01 92 /0 of emooys worfiing th SMF in 2020 said tkEy found wurrJ fv don't see Ir0Jh their traditional channels I19. g20/.1 PaJe 3
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 640/0 of stuntS in the l)19 cohort attended university went to a RLBsell Group institution (2018: 63'/.1 95 /0 ofAPP studenls who qr&luated in 2019 are ncw in full time employnent or fvrtkEr stLKly. 75/0 in hiqhty- skill1 employmerrt (2019: 98O/., 8/) Social W)il" Index The Sxial M()ility EM[ lrnlex Unc in 17 arnl Sin trEn 215 8n[AoYe acrcEs 18 dIffent StorS. colkntDdy reptEsenting almost 1.7 millKn emt)yees in the UK. have taken part In(Èx LEnchmat1(s nplOYe on Ihe actickns Ihey are altE&ly tslang to imwove la1 mobility and encourages them to lake furtkEr io enre Ihey are ow to acc1r0 and progressing tslent frcm ajl bad(grournls. The In(Èx encourages finns to Sha their initiatives arnl prCMJSs in LEcoming me 1rdUs emFIops a1 provides cryqnisations th a CoMprE1ve fec(Ibad( to infonn Iheir scthl mobility strat. Eh r publish a list of Ihe lop 75 empbsers and an r6ights retK)rt to share kw data, trlS and case stsKlies acn)ss all astEcis of em 0Yer4 swial mcbiliiy. We draw on ihe ir6ights from the Ind&A to de0P and impm our student progranme io irrform wr vocacy a1 campaKJr6 trrough trE DeFkrtment for OpFK)rtunities. In(Èx tcomeS and im The &tial Mo)ility Empbyer lrnlex c(niinLES to be trE &dirg authority on 8ntAoy-led sctial mobility. ulaty (i&1 by trE rn11a. policy makS and aca(knc as a Sour of data, insvJht case siLKlies. 119 empbyers fM 17 sectcAs, who collectively empk)y just under one millK)n people, bMitted aleS to ihe 2020 lrfex. In publishirg trE findirgs, we hvJhlighted ihe strong reprnIatiOn from some sErtors - rti(wlarly law, ihe wblic sect(, and financkil S- and call&1 on ihose seC1c Mthich have coniinu&l to grcw desrmie COVID 19 to mcbilise arournl social moLxlity and partripate in ihe Index - Klenbfying par[laty leChcJy. pham1aceutlS gaming. In 2020 Work with the Sccel Md)ilty Comm6sion to develop their toolkit empbyers on sCtiC)nOIC bxkgrcund dala LEing benchmarks from the Sccial Mobility Emooy Index. In February 20I we kjncw the Dqmrbnent for OprtUnItia8 ('DO'? , our c2mpaiJn and a(fvcr2cy ami and an exciliro new venlure for the SMF. the stLKlent prcNJr3mme works dir wth Yng rEorAe, and the Sc121 Mobilty Empk)yer In Infin emFloyers to wr)iit6e sc121 mobilty arKI m2ke chan, thrcwh the Dep2rbnent for Opr(ttJnitEs we aim to rnise public of s121 mc)ility 2rKI mobilise a rnrge of Cry2ni&3tions arKI Institu to take rMNbve thn on sooql d2ss disth2n12. Liko all our worf% m is p)sitive and prn(thcAI. Our *lvcThcy and GamFfivJns are driven bylhe rEÉYÈ and exrErience of r beneflarIeS and inform&1 by insight from our njnning stLKlent proJrnmm2s and our woth wlh employe incjuding thrh the 21 Mobility Employs In. DO launth&l in February 20> wth "Cvs Arenl workiro" a hard hitting billtThrd and social media c2mFkign arourKI recruilment treS and uncnnscioLL8 txas. As wlh our cther aclivitEs, we had to adapt quklY to Ihe impacl of the pandemc and rashatE our planwl canpaKJrs and in sprirvJ 2020. DO outcomes and im sin the laUh of DO we have: cThted a skK)rt vi(kn with ng about the fear of beccffiing 'Gwation Covid, whitti has been iew&l over 3CO,(M)O times run an award-winning caM[En on digital in pathership with RevolL a certifi&l cwtive agency. securirg over donat£rl Wc4)s from employers and ihe gene wblic which have been distiibut&l to disathant3J&l wuru rEorAe PaJe 4
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 plifEd the VC1 Infil of disadvantaged yourg FEcple imFd by CovKI.19, ccrtributing to (MIlIalLy. rou table diK)nS and Padiamentary kEarinqs and erKJagirKJ w(h the Prime Minislerfs Education ReCory CcKnm1ssK)n, tFE Secretary of State fcr Education. Parliamm EdLrat Committee a1 ihe exams gulat Ofqual sup[X)t and for wuro wple bylhe flaw&l swern replacing exams in summer 20. gvirKJ up to dqte infonn3trn and guidanco, working yo bono wth Miskron de Reya to offer stu(ntS to cne VI with appeals, and enaIng stLKlents to re a pjblic rAaffonn in the national media In 2)21 we have ccffimissioned major new research it) ex[ErieS artl perstiveS of disa(fvanlag&l Ycng rE()p, 'Unheard vol., which wll support arKI infonm fuiure athctacy as well as ihe devetpment of r siudent prCmJMMe and empbyer Index. TIE SMF is a mpanY limiw by guarantee. In Ihe of a winding up ttE merNLws' liability 6 restric to contribuling an amcunt not exc1rg £10 eh. The Company as on 22 Jure tre 9)vemirvJ (tajment is tre Manorandum and thles of ceticn, whith was amed by witten resclution C 16 Juty 2C(E. The Company was rJistEr&I as a tharity in Eroland & Wales 22 August 20LE. The Charity is adrninistetEd by the boa1 of TNstees wkt) are also di0 of the Charitable ccpanY and a list1 cn paJe 1. TrE 1x)al meets 5 times a year to erBure the rmper adrninisti3ticn of the Charity and application of lis r)UrCeS. The 04cAay ManageMt of the Charity is del93atl by the to Chief Exutive rep to the TrUSS C a regular basis. Trustees are apwinted ClY Ly resolutions pasxl by exislirg TrLBtees to CLXPt new Trust. This is carried l in aC£Ordan with dauses 3.9 and 4.5 of tFE Artides. Trus&s are appoin1 for 2 tenns of three years, with a third terffl oflhree years possib under excetAional carcumstan. The training ne of each TrLE1 are aed on an irKIivKILBJ basis arKI ac to training is Offer where necessary. On aptKxntsNeni eath new TrLBtee is given optx)rtunity to mt with the staff of Charity and is DVKled wth a copy of the Charity C(Knmissicrfs Essential TNst* guidan, the ctsiivs pvemirg (tMent. laiesi nts arKI recent LM)aKI parErs arKI minutes. TrE Twstees Sing during the year and to the date ofthis )rt e as follows: Rt Hon Ajan Milbum (Chaim)an) Rt Hon Hazel Blears (retired 31 tbEmtEr 2020) Hekn Grant MP (resiJrEd 31 Juty 20) Sir Terry Leahy (retired 31 DecemLEr 20) TkEresa Loar Fraser NeIn (retired 31 3M)) Dr Bina Rawal HeKler Ridha Ben RcKlham Fiona Dawscn (aOIntl 17 Fellry2o2l) Namrata Patel (apwinted 17 February 2021) Lord Siuart Rose (appointed 17 February 2021) Lee Can (arwinted 5 May 2021) Hekn Gonl MP resigned in July 2020 owing io Parfiamentary commthents. Three trustees tired at Ihe e1 of 2020 kBvir@ rnplet trEir temis of off. Four w trusie&s. seled after an cw aptAicalTh tYc£ess. jC4rEd trE PA)ard in earty 21L1. Page 5
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 The Trusts will continue to monit)r and review the risk assMent trc£ess on an orgoing basis. In the cpintn OF tIE TnEtees there are a(ualE int ntrOlS in Pla t> COV any signtF£ant risks to the Four#. Charttable ObFct4 Visw)n and ObFcOves The knial Motility FourKlatrm is a Charity, registered in 20(E, to advance the life thaeS OF bright but financialty disthantaged young p4)le. Our vi is that young wple across the UK strld able to thEve their ptentia regardless of their socio- economic tEd£ground. tEreffting Ihern and makirg our econorny arKI xKiety StrCFr. Our mBsion is lo suptK)rt arKI champi)n yourg tEotAe from scKLeCCorniC backgrourKls. breajong ck)wn the barriers tst prevent thern achieviru trEir pol1a1 arKJ md)ilising otfErs to take positive action on social rnoiilty. SMF advan ils tharitable cbFcfjves through: Providiro seeS to youro pIe, il11r wjrk experie. mr, skills worksfws a1 university Msiis. Our wwces tKIed 1lY of charue wth cr praMrlleS otEn to your@ twtle ac$ ihe UK wih el1b11Ity bas1 on siCeC£Mrnc and acalemic uiteria. Providirg a((y, thice and infcmialDn, ilL11r and inftmalrn to Yng wple cn our pww)me atK)ut lucl and carr pathways, and ade and infonnation to eMpt)Ye a otrErs aLrLrt effecive tial mobility [1. Advi and InfCrnathC tr) young p)ple on r pg13mMe is ovi(knl entirety ftEe of C. We adtate for enesS of soaal mc)ility and acthon on Sla1 class disadvaniage thnrJh our campaigns an, ItrE tH)arbnent for Op[mJJnl1s. Underla£ing resewth. particulaty into the experiences and [stiveS of ycung wple frcm sco ncmic baCkgrrls, into the cxjsas arKI impxts of social claqs di8advant3Je, and intr) emFAoyer ti in social md)ility. We disseminate the insights and firKlirgs from our researth thrcxjgh publaanS. events arKI engawnurtwith makers the media. TrE eligiLxlty uiteiia our stLKlent pjrnmme we: Soa(On(nic.' Ycng wple elTrJible for free schc()I meals. aor wll LE Ihe fi in Iheir families to attend university. havirg aithed a schcd with a signifrant proportion of pupils on fe sctrK()I meals, arKJ1C care ey[ErEnd. Academic: typicalty ptulited ABB at A-Level cr ABBB at HigFErs and have c1)lai1 at least 4 A17 grades at GCSE CY 4 AIB grades at Naliywl 5. We take scKice{0miC context into acrount when ccrsicÈring academic elKJibility. In shapirg c)lecveS for year and planning cxjr acVIes, tre Trustees have ccYEicred ihe Charity CommiSsic'S gUKlaN public InefIt includirE guidarre'txJliC Inefit. runnirrJ a charity IPB2)'. Reserves policy and going concern The TNstees are [leal to IB)1 that tclal funds at 30 Septemter JY20 anount to £1.034,573 (19. £,1) of which unrestric1 eNeS amwnt to £485,87 (2019: £210,54n and stil(l funds amwnt to £548,766 (2019: £178254). Whilst the TNstees are satisfi1 with trE of reseNes are activety seeking more funds to expand the activities of the Charty. The reseNes are conered 1uate at this staje and wll continue to tk reviewed during the Cent year. PaJe 6
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 The Trust are corfi(knt that ttE Charity will LE able to continue its OFErations LEycnd the next 12 mcrths given a healty level offree res arKI a numLEr of ircome sources in the pitEline for fuiure years. Financial RevE4V The cpening OF rew reg1Qal OfFI during the year has ireaS costs fcr the Charity. However, the bal shed MaInS at the 30 September 201 with tolal fUS OF £1,034,573 (19 - £3e8,801) and cash at Ink of£1,178,286 I19- £631,1). TRUSTEES. RESPONSIBILlEs STATEMETr The (tho are also dirrs of the kn4al Mctility FourKlaticn for the pJrrNJses OF canpany law) a tx)nsitAe for preparirg Ihe TrLBtees' Report and Ihe firorcial Statem in acr0rdan wilh applicale law arKI UnitEYl Kingdcyn Acwunling Standards (Unit& Kingdom Generalty A(pted Ac£cxJnting Practi). Company requires the Trustees to prepare finarKial statements fcy each financ¥J year. UncÈr ccynpany law the Trustees Must not aptrove Ihe financxl statements unless they are satisfEd that ihey give a tnE fair view of the state of affairs oftre charitsble c(pary arKI of ircomirg rOUr and apti)n of rOur. inckjding Ihe incorne and ewenditure. of charitable company fcy that [Eri. In weparirYJ these financ1 statem. the Trust are required to: lect ltable aC£cntIng w14eS and Ihen aptly ItrEm congstenlly. d)seNe the methcKls and prinaples in the charl SORP" make jLKlgments and accouniing esiimates iFot asonab and pulent" and epa the firLqnoal statem on the going cr)ncBn basis unless it is irAprmwiate to presumo that the charitale companywill continue in 0?tiOn. The TrusÈes are responsible for keepiro aduate accounting rS that are suffioent ID show and explain the charitsble companys transactions and disclose with reascretAe aUr at any time the fironoal position of the tharitsLAe rnpanY and erFbÈ Ihem to ensure tret ihe financial statements cornpty wth ihe CcmFEni&s Act 2C(E. They are also restK)nsiLAe for safJuard1rVJ the assets of the tteritable rnpanY and for laking reasonable steFL8 fcr the prevent# and detection of fraud arKI ottEr irregularilES. The Trustees are resFK)rsil the rnantena and integrity of the ccypcyate and financia Infca1)n in1 C the cwilable mparS website. L8JiSlatiC in the Unit1 lfjrodom pveming trE pwwation and dissemination of firBncial statements may differ from bJislaticn in other jurisdicOrE. DISCLOSURE OF INFORMATION TO AUDITORS Eth ofthe who are TNsts at the time Wh this Trusiees. Rewt is 4proved has cnnFirMl that so far as that TrL is aware, there is no relant audit infomiation of whh the thariiable comFBny's auditors are urware, and that Trus& has taken all ihe Ste[ that ht to have taken as a Trustee in cr(Èr io LE aware of any relevant audit infonnation to e4ablish that the charitable companys auditors are aware of tr information. The aLKliiors. Lubbock Fire. FEve indicai& trBr willirgress io accept re-ap[intMent urfer sthin 487(2) of ihe Ccmpanies kt 20CE and a re9JluiKfft to pAnt will be pro at ihe AnnLHI Gene1 M&tirg. In yeparirg lh6 rerot. TnBtees have taken advantaje of ihe small companies exemOK)ns pn)vid&l by seciion 415A of trE CcThrEni& Ac* 06. Page 7
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 Approved by crder oftkE members of LA)ard of TrLBtees and siJned on their bekHlf ty. Rt Hon Alan Milbum Date.. 29 July 2021 PaJe 8
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) INDEPENDETr PUDITORS. REPORT TO THE MEMBERS OF THE SOCIAL MOBILtrY FOUNDATION FOR THE YE1 ENDED 30 SEPTEMBER 2020 OPINK)N We have aLKlited the finarcial Statem of The ScKial M()ility FcXjndai (tFE 'charIlab companv) for the Sear 30 SeptemLEr 3)20 c£mprise the StateMrt of Financwj AGl1vit. the Balan SfEet. the Statemenl of C&h Fkn and tFE lat no, irKaudiro a summary of SnIfICant accounlinq [L)lic. The financial rewrfiro framewort Ihit kkas LEen arpli&l in Iheir ptEpatBtickn is ai)plicaLAe law , iliK11r0 Finanaal Rewrtiro &an(l¥d 102 The Finanaal Rewling Starnlard applrable in Ihe UK and Republic of Ireland, (Unit lfjngdcm Genejty Apted Accounting PraclKE). In r opinKn Ihe finla1 slalements: give a te arKI fair view of state of the charilable cnnpanvs affaitE as at 30 sep aml of its incorning rescurces and applK3tion of resources, irclLKliro its inccme and eenditU fcr tIE then en. have LEen Fropety preFBr in accordance with unl Kiry(bm Generally Accw AcoJJnti have twi wepared in acrnrdance with the requirements of the Companies Act 2Cn6. BASIS FOR OPINION We crnlucted our 2LKlit in 2cmrdqn(E with Intematmql S12nd2rds on Auditing (UK) (ISAS (UK)) and appliGqtAe law. Our nsIbIlIeS under those standards 2re fUrtFVibed in the Auditcs, rEIb11it1eS for the aLKlit of firkqnoal s12tements sn of our rewrt We lrKlerEn(nt of (kqrit3ble (rmrkqny in mrdqn Ih the ethiql reqU1mentS that vant to audit of the firLqrci21 statanenÈ in UnitÉYl Kirgdom, incijding the Fin3ncFJI Rerrrtirg Qnuncil's Ethical Standard, 2nd have fulfilkyl our other othr21 tK)nsitxlibas in aCCDrdan with these requIrems. We tlve trBt the audit evi(Èn we have oblained is IcHrt arKI aFvrcpriate to prothe a bass for our opirion. CONCLUSIONS RELATING TO GOING CONCERN We have nothirg to retx)rt in respect of the followirg matters in relalrn to whith (UK) rquire us to repcrt to wlEre: the Tnstees. LBe oftrE going conrn basis of accntir in the preparntr)n ofthe fiCial StaIaS is not appprIate. or the TnBtees have not dix101 in the financial slatements ary identifi1 material uncertainlies that may cast signiant (bubt aLrLrt the tharitaLAe companys aLxlty to continue to a(tpt rg cnncan basis of &countiru for a WICKI of at least iwelve monlhs from trE (Ète wkEn the fiThqncial StatS a authorised for ISSLE. PaJe 9
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) INDEPENDETr PUDITORS. REPORT TO THE MEMBERS OF THE SOCIAL MOBILtrY FOUNDATION {CoF1NuED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 OTHER INFORMATION TrLBtees are resFxThiLAe for other inf0rnatn. The other infomiation comFYises the information Iluded in Annual ReFK)rt, other than the firEncxal staternenls arKI our ALKlit0, Report thereon. Our c¥)inTh on tFE financial staiements dcEs not cover Ihe cther infomiation and, except to trE extent oltrErwEe explicit sla&1 in r report do not expr any fcnm of assuran condusion In cOnnn wth cr audit of the fitHKial slatements, our SnsIbIlity E to Ihe olher infonnation and. in doing so. consider wkEther Ihe cther infomiation E materially ItOnSIstent wth Ihe financial slatemenls or our ke(Je oblain&l in Ihe audit or otheMi appears to be materially misstat£tl. If identfy ch materkql in(xnsistenaes or appawt maiaial misstatements, we are rul[l to deiermine whether true is a maleml rnisstaiement in Ihe finanoal staternents or a maknl rnissiatement of Ihe crther irrfonnation. If. tla1 on Ihe woth tErfCThij. we condu(È that there is a maerial rnlsstai8ntt of Ihis otrw inf0miatl. are rul1 to report ihat fact. We Iwe nothing to repcrt in ihis rard. OPINION ON OTHER MAThERS PRESECRIBED BY THE COMPANIES ACT 2(K)6 In opinK)n. bad trE Undertak in Ihe course of trE audit" Ihe infonnation gwen in Ihe Ttustees, Rerut for Ihe firnnc&l year for the financk4 slatements a [repad is consistent wlh Ihe finla1 slatements. ihe Twsteeg Rerxyt has LEen prepar&1 in accordan a)p1112 legal rUlents. mAERs ON WHICH WE ARE REQURIED TO REPORT BY EXCEPTION In tre IKJht of our kge and Uerstanding of ihe charitaLAe company a1 its IrOnMent oLla11 in trE course of trE audit ha mt Klenttfil maiwial missial8M in Truskn, RewrL We have ncihiro to reFX)t in resm of the followiro matters in relaticll to which Companies Acl 2CD6 UIreS us to wrt io you rf. in our olinic. uate acccuntiro C(dS have not LEen kept C reiums adequate for r aLKlit kBve nol LEen recav&l frcAM bncheS visited by us" or ihe firorcial gatements not in agr&ment with )unting rEc(dS relums" c rtain d1threS of TnBtees' MUneratiOn specifi1 by law are noi mle. c we have not 1Ved all the infonnatrn and explanations we uIre fc our aLKI¢ c e TnBtees re not enliU& to prepare finarcial statnentS in acr0rdan with the srnall ccThpanies rle and take advantage of all comFHnies' exemptions in prepariro Trustees, ReFK)rt and from ihe rquirement to prepare a Sts31C ReFK)rL PaJe 10
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) INDEPENDETr PUDITORS. REPORT TO THE MEMBERS OF THE SOCIAL MOBILtrY FOUNDATION {CoF1NuED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 RESPONSIBILMES OF TRUSTEES As explain1 more ful in the Trustees, Reswr6iLxlities Statement. the TrLBtees (who are also directcrs of the charitable cwipany for the purposes of company law) are respcYtsib for the preparatK)n of the financ1 statemenis and f( LEing tiSfi& Ihat fv give a true arnl fair w, for such internal ccrtrol as the Tnstees (Ètermine is Sary to enaLAe Ihe [ation of finatKial staiemenis that free from malerkql misstaiemart whether d to fraud or eOr. In prwiro trE financial statemenis, Ihe Trustees are reswnsible f( &sessing Ihe charitable companls ability to cCrtIn as a Ar0 ccncern. dIIng, as aprAicable, Matte related to 1r0 1X)nM arnl usiro Ihe going conrn basE of ntir0 unless Ihe Trustees either inte1 to IKiuidate chatilaLAe (X)mpany or to cease cperalions. cr have no allS1 altemaIi but io do so. AUDITORS. RESPONSIBILITIES FOR THE AUD OF THE FINAJICIAL STATEMEps Our obJ]veS are to obtain reasonaLle assurance aLK)ut wheiher the finanoal siatements as a we are free frcm maerial misstaianert whetrw due io fraud cr errDr, and io i an Audiiors, RetKrt (hat indLKles our cpintn. ReaThble assuran 6 a high OF aSSun. but is not a guantee ihat an audit C(dl in accudarre wilh ISAS (UK) urill detect a material misslalemgrt uhen it exists. Misstaiements can ar6e frcm fraud or er arf are C(S1£1 material rf, iliVKIua1IY or in trE aggregaie. they ccukl reasonably I exrEded to lnfiUen the 8xnomic (Ècisicns of users taken trE bas6 of ihese financial sIalnen(s. A furtFEr description of cr SponSil1ibeS for ihe aLKlit of ihe financial staiements is located cn ihe Financial Rewrtiro Coutril% bSIte at: www.fr . This description fcATns part of our ALKlitors' ReFK USE OF OUR REPORT Th6 retK)rt is made soldy to the CFBritable Cornpanys memLErs, as a bcmty, in accordance urith Chapter 3 OF Part 16 of trE Cornpani 2(tE. Our aLKlit FBS bn Undertak so trBt muht staÈ to the kirilable Ccmpanvs memtErs those mailers are requir&1 to state to them li an Audilors, RetKrt and for no cther puose. To the fullest eXirt permitt&l by Lqw, we do not ty or assume reswnsibility to anycrÈ CAF than the Chqrll2b Cnnpany and ils memtws, as a tndy, for our 2LKlit woth, for thE or for the ormnions we Fkive fcmied. LLL Fy Lee FaY (SenN)r StstutoryJ4Klitor) for arKI on tEFkilf of Lubbock Fine LLP (JOrter Accnunlants & S13tutoryAuditcrs PatÈr House 65 St Paul% Churdryard London EC4M 8AB Date.. 29 iul y 2021 PaJe11
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) STATEMENT OF FINPNCIAL ACTMTIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020 Unrestric*ed Restrthd furnls funds 2020 2020 Total funds 2020 Totsl funds 2019 &)te INCOME FROM: Donations and granis Investments Olher in(x)me 954. 1.249,858 2.2Cki,L8 949 2,335 1.932.510 949 13,641 TOTAL INCOME EXPENDuRE ON: Raisirg furKIs Charitable aCvitE% 957.e64 1.249.858 2.7.5 2.(K)6,835 45,461 833P85 51.829 1.5CB.921 14,932 1.870.C 676.036 TOTAL ExPENDURE 682.404 879. 1.&91,9 MOVEMENT IN FUNDS BEFORE OTHER RECOGNISED GAJNS RECONCIUATION OF FUNDS: Tolal furKls bgh1 foThVal Net movement in funds 275260 370.512 121. 210,547 275260 1782&1 370512 3e8,801 645.772 121.8A3 TOTAL FUNDS CARRIED FORWARD 485.807 548.7e6 1.0.573 388.801 Staement of Financd AcvitE8 includes all gairs and kx8es reccMJnis&l in the year. mtes on pages 15 to L fcffii FHrt of these fin(al slatemenis. PaJe 12
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) REGISTERED NUMBER: 05488354 BPLANCE SHE FOR THE YEAR ENDED 30 SEPTEMBER 2020 2020 2019 te FIXED ASss Tangible assets CURRENT ASSErs 11 7.619 9,6CE DelAors Cath at bank and in 12 181,116 1.178.286 168N29 631,951 1.9.402 8CD.&gO (lICs. amounts falling due wthin one 13 1218.5641 (182.957) CURRENT ASss TOTAL ASss LESS CURRENT LIABILlEs 1,140,838 617,4 1,148.457 627.0 Crediicrs: amnts falling dLE after more than ce year 14 1113.884) (238.228) TOTPL 1,034,573 388,801 CHARITY FUNDS Restrted fvnc UnreslricÈd furKIs 19 19 548.766 4&5.807 178.254 210.547 TOTAL FUNDS 1,034.573 388,801 The fimnc&il staiemenis kEve LEen ptEpar&l in accordan th the wovisions awlicaLAe to titS bI1 to the small ccThpanies rgJime. finamial slaiements We appn)v&l arnl autkKKised for issue tythe Trustees arnl sign&1 on trEir behalf by: Rt Hon Ajan Milburn, Chaimian Trustee Date.. 29 luly 2021 mtes on pages 15 to 32 of ItrEse firnnaal slaianenis. PaJe 13
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2020 2020 2019 Ncrte CASH FLOWS FROM OPERATING ACTMTIES Net us& in cperatiro activitses 21 548,250 4.337 CASH FLOWS FROM INVESTING ACTlVtnES Interest from investsnwis FKase of taroible fLY&I a15 12,864) (lo.0} CASH USED IN INVESTING ACvlEs (1.915) (9.412) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 546.335 486.925 Cash a1 cash quIaleniS at trE Winning or the ar 631.951 145.026 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 1.178.286 631.951 TrE mtes on pages 15 to 32 fc part of these financial staianents PaJe 14
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 AccOUTr1NG POLICIES 1.1 Basis of preparation of finan1 sLitements The finala1 Statem have LEen in accordan wih trE CharitEs SORP (FRS 102) - ntirg and Rewting by Ckpribes: stemtt of Rmm( Practi atvlic3LAe to ckwibes pparIng iheir &counis in acc(dan wih ihe Firkqrcial Rewrting Standard applicable in trE UK and RepuLAr of Ireland (FRS 102) (effecknve 1 January 2015), Firkqncial Repjting stan(L1 arplicaLAe in the UK and Rewblic of Ireland (FRS 1) and trE C£mpanES Ad 2[6. The &aal MoLxlity Fcundation mcds (Èfinition of a wblE Lvefit entity under FRS 102. sets and liaLxlities are initialty recoJnid at histrical cost tranwiion value unless cthemise slated in the relevant accnuntirg wlcy. 12 CpanY slat The Charity 6 a CrynFEny limi by guarantee incr in Ergland and WaÈs. TIE members of the Charity are the TrLEtees rom on tBge 1. In the eVl of Ihe Charity LEing Und up, the lebilty in r&sFECt of tre guaran is limiW ID £10 FEr ofthe Charity. The gisted (IfFice address and princi1 of business is The Tirnr ya1, 17 Dwjale Stre LcrKlon, N16ND. 1.3 Fund accounting Gew31 funds are unrestr[1 funds which are availa) for use ai the of the TNS( in furtheran OF the weral Objecti OF the CharitalJe Company and thich have not Ixn ctsonated for other purtL)ses. Reslricled funds are funds whith are to te used in accordan with specific reStriConS imFXd by ckYK)rs or whith have raised by cF0ritale Ccynpany for tMrticular pur[)0. The costs of raising and lMinIster1ng suth furKts are trrged jainst the stRoficfvnd. The aim and u of eh restiicted furKI is set out in tIE to financial slatements. 1A Income Al irrnme is (NJnIl once the Charitable CcAnpany has tit1ment to the income. it is pnbable that the irmne will be rec&1 arKI amount of irrnme e1vab can measUd reliably. seNS and fllItIeS aE Inclu at the value to the Charity Whe this Gan quantif and liablY estimated. CCIrtr ircome from charitale aCtiVeS is a(xcunl forwhen r1vable. Revenue arKI capital grants are ac£cxJnted for gross when notificaiTh is reCEi1 arKI conditK¥B are met. Where trE grants Sfy time FEricKI they relate to. they are 0jnid as in(x)me in that tkwtion and fundraising in(xThe is rJniSed at FKint at whith pledge is made. 1.5 Interest receivable Interest cn furnls held on derM)gt is imlLKl&l mable arKI the amouni can be Me1 reliably by tIE Clkqrllab Compaw" this is mmialy uwn notification of interesi paid or pay2ble by bank. PaJe 15
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 AccOUTr1NG POLICIES (cOlNUED) 1.6 Expenditsjre ExperKllre is incILKI1 C an acLTuals basis all c£sts related to each charitaLAe activity have b&n alktat£rl d1CY to that acbvity. WIEn costs cannot LE di[Y attriLLd to an acMty they been allctated cn a basis consistent wlh the u of sCrs. TrE vast majoriiy of prt cosis comprise latl o)sts arKI professK)nal fees. Cosis of sing funds we o)sts 1ThnEd in aitrathng lunlary income, those in trading tiwlEs that tBise furnls. CharitaUe activity cx)sts are costs incurr1 on Ihe (ariWS OFErations. induding SUPFXJt ojsts and cosis la1]ng to the 9)vemance of Charity aptxJlNThl lo charitable activitses. 1.7 Goiry concern The Charivs fws a1 level Orcal]0S is depen(knt cll trE availability ofworkirvJ wiial FrOVi(l by grants donalrns. The Board of Trustees are continucusly mcnitoriro Ihe activitEs caEd out by ihe Chariiy in order to SUre ihat suffcient worf(iry capital is avaiÈbÈ to cnver tFE wnning expenses. The Board of TnEtees have prepa (tall&l tseca for ihe year SeptemLEr 2021 and pliMIr0ry fowast reliS for year en(Èrl Sq)iemLw 22 which confinm that trE Charity is expected to have ihe resources to (X)ntinLE as a Ang 1x)rM. On ihis bas6, Twstees CCnSKlers it aprroykate to prepa trE finanoal slaiements on a Ar0 cOnM basis. The financiql siatements do rot inclLKle any adjusbnent which would result if there were insufficient funds availatje in resW oFthe Charitys cwations. 1.8 Tangible fixed assets and depreciation Targible fixed assets ¥e ted at cost less (ptn. The costs of rll1 additions cr those costing LElow are not caFXtalwl. T2rgible fixed assets are CArri&I at cosL rÈt of deVlatiOn and ary provision for imFoinnent. Depati E Wov1( at rntes CAkuLqt&l to lte off the st of fixed assds, less trEir estimat&1 resKlual valLE, over trEir exrEcted LEeful lives on the fdk)wing bases: and fittings Cnnputer ul[ent 25.CtP/o per annum straight line 33.130/0 per annum straight line 1S Operating leases RenlaL8 under cperatirg SeS are charged to StatEment of Finanaa £ties ircorwrating Income and Expenditure A£cnunt on a straight line basis ihe lease IHM. 1.10 Taxation There is no cwp to tax due to the nature of the acbmties Ggrried out by the onJanisatr)n. The Chariivs eXndItUre is indusive of input VAT which cannc 7)VeI. PaJe 16
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 AccOUTr1NG POLICIES (cOlNUED) 1.11 Foreign currencies M(¥thry assets arKI liabilities ckncxllinated in fcreign (rrenCieS are translated into stediro at rates of exclwrye ruling at the 1]ng date. TntionS in foreign cunEnaes atE tsBnSlat into sterfing at the raie ruling on the (kte of the transadion. Excharoe gains and losses gnisl in trE Stalement of Finanaal ActivitEs iorpOling Income and Expendiiure Ac4X)unL 1.12 Debto Trade and clher debtors are reccgnisl at Ihe settent amount after ffj tre discount offed. PrepaeniS are valwl at the arn(nt prepaKI rEt of anytra(È disccunts due. 1.13 Cash at bank a1 in FHnd Cash at bank in hand includes cash and short4enn highty IKiuid investsnents wilh a sFut maiurity of the monihs or less from ihe dale of aquisiiK)n oropening of ihe deposit or similar acInt. 1.14 Liabilites and prSlOn5 Liabilibes are reccunised wFEn trve is an d)ligation at ihe Balan Sht dale as a Ult of a past evenL it is pthatAe ihat a trar6fer of eccmmc tEnefrt will be required in seltlemert and ihe amount of the settÈment can be estim3Èd llabty. Liabilities are (gnised at trE amcunt thai the Ckkirity afftipates it IMII tky lo settle trE debt or trE amcunt it has recaved as VanCed tkymenls fcr the Is or seNices it must provi(È. Provisrr6 measur&1 at trE LEst estimate OF the amcunts rul1 to settÈ the cbligation. Trade and other creditors are rJniS at the setuement amount after arytrade disUnt receiv&l. •• njals are valued bas&1 on trE estimated amnt lo paid. 1.15 Financial instruments The CFLqri12ble CompAny onty Fkqs firkqntiql assels 2nd finan1 liqbilities of a kind th2t qualify 2S bas financiql Instrum. Basic finanoal instsumenls are inib2lly wnised at ts2n&qction value and buentIY Maqsur at trEir setmemont value with the QptiOn of tkqnk loans which are subsequenty measur1 at amorti1 ccst LEirvJ eff1ve inier&%t methcKI. 1.16 Pensions The Chari12ble Ccmpany cperalRs a defin&l 0)ntr1tr pensrm sdEme arKI the FYEion tharge represents the aMnIS payatAe by the Charit2tAe cOmpYt0 the fund in respect of year. The pensKrs extErse is allocated be funds in rdan wth the wages allcKation. The cditOr is Unrestric1. PaJe 17
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 lNCOMEI(EXPENDuRE) This is stated after charging.. 2020 2019 DeplatIOn of tangible fi1 assets ALKliiors mUneratION Owatirg lease expense 4.&fj1 10200 29,058 3,557 10,2 34,OCG INCOME FROM LX)NATN)NS AND GRAJITS Unrestricted Restricted funds furnls 2020 2020 Totsl funds 2020 Donations and granis Gifts in lfjnd 6.716 1.249.858 1.910.574 Total 2020 , 1.249,&S8 2,1)4,238 Unrestrfcted Resthcted funds furnls 2019 2019 Totsl funds 2019 Donations and gn(S Gifts in kind 622. 484,610 885.847 1.)7.9Co 484,610 Total 2019 1,1CE.EE3 885.847 1.932,510 PaJe 18
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 INCOME FROM LX)NATN)NS AND GRAJITS (contind) Gifts in Kind Gifts in Kind are SFAii as follows.. Unrestricted funds 2020 Totsl nds 2020 Pro bcm Ial fees Use of facilibes offi spe Consultancy Marketir 112,624 25.(tM) 13.Ct37 18.148 112,624 13.(lJ7 18.148 94.7 Total 2020 263.664 263,664 Unrestricted fulS 2019 Totsl nds 2019 IJaI f Use of facilibes offi spxe Summer eptIOn Marketir Professional devebpment t(1 kit 59.428 262,C(t) 18.471 2.01 133,655 59.428 262,OCQ 18,47T 2.050 133,655 Total 2019 484.610 484,610 Duriro the r, Ch¥ity also receiv&1 Gtrls in Kind not tEen iThYuded within a0Jn on the basis that a valLE crjId not be reliably estima. PaJe 19
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 INvEsTMETr INCOME Unrestric*ed furnls 2020 Totsl funds 2020 Invesknent iome unstrICted fUlS 2019 Totsl funds 2019 Investment ircorne OTHER INCOMING RESOURCES Unrestricted fulS 2020 Total nds 2020 (jiher In(rNe 2.3 Unresthcted fulS 2019 Totsl funds 2019 (31her inct)rNe 13.641 13.641 PaJe 20
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 COSTS OF RAISING FUNDS Costs of raising voluntary income Unrestricted Restricted funds funds 2020 2020 Totsl nds 2020 Staff costs of raisirg fvnds- wages and salaries staff cnsts of t3isirg funds- Nl Stsff costs of raisirg funds- perEion costs (31her costs of raising furnls 5.114 s.85 10,719 1,314 274 112 162 39.038 Total 2020 45A61 51. Unrestricted fulS 2019 Totsl funds 2019 Siaff cc6ts of raisir@ fvs- wages and salaries Staff costs of raisiry funds- Nl Staff costs of raisirg funds- per10 CL)sts Olher costs of raising furKIs 11,e88 1.4 316 1,270 316 1,270 Total 2019 14,932 14,¥J2 PaJe 21
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 ANALYSIS OF EXPENDuRE ON CHARITABLE AcTlEs Summary by furnl type Unrestricted Restricted funds funds 2020 2020 Totsl nds 2020 StLKlent progrnrllme EmFloyer Index DepartMtt for OpFK)rtuniti 4.894 31,439 153,71 780.547 1.271A41 2,502 &3,911 .&36 2)4.539 Total 2020 676.036 813.&q5 1.19,921 Unrestrfcted Rescted funds fulS 2019 2019 Total nds 2019 SiLKlent progMmeS EmFloyer In(Èx DepartMt for OpFK)rtunities 861.425 26,814 186.559 795.52 1.656.687 26.814 1.559 Total 201g 1,074,798 795,262 1,870,oe ANALYSIS OF EXPENDrruRE BY ACTIVITIES Actmties un(Èrtaken directly 2020 Support costs 2020 Totsl funds 2020 StLKlent programmes EmFAoyer InX Department for Opwrtuniti 1,OCD,165 271,276 1271,441 33.911 195,6E4 8,875 Total 2020 1,225.330 284.591 1,)9,921 PaJe 22
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 ANALYSIS OF EXpENDuRE BY ACnVITIES (CONTINUED) Activities undertaken directly 2019 Support Totsl funds 2019 2019 StLKlent progThnmes EmFloyer Index Departst for Opwrtunities 1,425,664 24,157 186,559 231,023 2,657 1 fi56.687 26,814 1&,559 Total 2019 1,636,380 233,eEo 1,870.0 ANALYSIS OF SUPPORT COSTS Department Student ogrammes 2020 Emp0Yer Opportuniti Index 2020 Total funds 2020 staff costs Deplation Olher Staff costs Printing, tx)stage arKI slaiy Premses costs TVe1 a subsisien MiscallenEr)us al arKI pesSr DilapK1aticS exrwEe 11.732 4,&51 12,350 4,&51 6.036 7,351 64,839 13A59 151 151 61597 13A59 1,621 1,621 140,468 19,C 1A79 5,914 147.861 Total 2020 271276 8.875 284,591 Inclu(kn wihin suptx)rt costs of f284.591 (19 - £213.&90) are Gtfts in FfjrKI for legal and professional fees of £112,624 (2019- £59,428). PaJe 23
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 ANALYSIS OF EXpENDuRE BY ACnVITIES (CONTINUED) ANYsIs OF SUPPORT COSTS (contind) Department sdent Emkloyer OpixXnitl crfJrammes Index 2019 2019 Total nds 2019 2019 Staff cA)sts DeplatIOn other Staff costs Prinling, FX)Stage arnl siaij PremBes costs Travel arKI subsisten miqcal1en)uS Legal arf professKA 9.7 3,557 4,248 26.079 85.917 35.232 6,881 59.386 3.557 4.248 26,079 88,574 35.232 6,881 59. 2.657 Total 2019 1.023 2.657 233,680 AUDITORS. REMUNERATION 2019 Fees FMyaLAe to the CharitaLAe ComFBrfs aKlitorfor the audit of trE Charitable Companvs annual acuunts 103)0 10,2CQ 10. sfAFF COSTS 2019 Wages and salaries Sc£ial security Ots ()her pensDn cc6ts 888.071 66,246 29,212 849,375 78A02 23,926 9&3.535 951.71 TrE avernge of persons plOy&1 by Charitable ComFaW during the arWaS as fcAkMs: 2020 No. 2019 No. Average nurnber of emrloyees 32 PaJe 24
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 10. STAFF COSTS {CONTINUED) The numLEr of emF)yees wFK)se empbyee benefits (exdLKliro WFAoyer (x)sts) exCee(d £8.co0 was: 2020 No. 2019 No. In Ihe band £,(l- £70.OCM) In Ihe band £70,(l- £80.OCQ TrE total emplow benefits. IlKI1r0 saLqry. nS)nS and emF105 national Inw[ae. of Ihe key manawent tErsonnel of trE Charity was £80.916 (2019- £91.079}. No trust r1Ved remuneration cf in kirnl durro current ar cr prior pericKI. No trUSS were re1mrsl travel expenses (2019- ). 11. TANGIBLE FIXED ASss Fithres and Computer equipment Total Cost orwdluation At 10(lober2019 A(klikncrs 32.1n 867 1,997 At 30 SemLw 20> 7,375 27,662 35,037 Depreciation At 1 Ocober 2019 CPr forthe year 17.186 4,2 22.567 4.851 621 At SetAemtv 20> 21,416 27,418 Net bTh)k value At 30 SeFXemLw 1.373 6.246 7.619 At 30 SeFemLv 19 1.127 8.479 9.6C6 PaJe 25
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 12. DEBTORS 2020 2019 Due after more than one year (31her deLrtotB D within one year (3ther delAotE Prepayrns and acoued income 8A 33.795 138,831 156,484 181,116 168.429 13. CREDITORS: amounts falling within one year 2020 2019 (3iher tayaKfft Sla1 security Ac(JLds th defenul in(xffle 27,552 155.41 194.682 218.564 182,957 Deferr1 incnme relates ID grant income which was (ferr& in lirE wilh grant agrenents. BrcuJht forward (ferr&I income of £12&322 was releawl in ihe year with a(klitr)nal (err&I income intrcKluc&l in the year of £124,9M. 14. CREDITORS: amounts falling due after me than one year 2019 ACCalS and def1 inctKNe 113,884 TJ8,228 Deferred incxjme relates to grant incorne which was ckferred in lire wilh grant agreements. BroLKJht forward cwerred 1cne of Q38,228 was released in year and additThal deferred incorne was intrcKluced in the year of£113,ee4. 15. PENSION COMMrrMENTS The Charity operates a defined cCrtributiS persion theme. assets of trE scheme are held separntely fM those of the Charity in an inderenty adrninisl fLnd. rEnSIc cost charge tEpr&ents contributions payab by tre CFBiity tr) the fvnd arKI amoun1 to £).212 (2019 - £23.Y26). contr11tiOnS tclalling £4.044 (2019 - £4,2)) were payable to the furd at the balan sheet date and a inthded in crlIt0rs. PaJe 26
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 16. OPERATING LEASE CommMENTs At 30 September 20 charitab Ccxnpany had commitments to make fuiure minimum kne payrnents unr nOrcanCelIable cwatiro aSe5 as folkws: 2020 2019 Wilhin 1 year Beiw&n 1 th 5 years 50rt84 31.892 26,259 Total 82.376 26.259 17. FINANCIAL INSTRUMENTS 2020 2019 FinarKial assets Financial assets measur1 at amottsed cost 179A16 1K),428 2019 Fila1 Imbilities Finala1 Id)ilitEs meared at amorti1 cost 6S,738 30,0 Financial assets measured at amorb*d o)st (lpre other cÈbtcrs and ac(xued incc#ne. FInala1 lthilitEs measured at amorti1 o)st comprise of accruals. 18. RELATED PARTY TRPNSACTIONS Trwe We no lated paty ts2rtsactKS in the year {l19- none). PaJe 27
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 19. STATEMENT OF FUNDS STATEMENT OF FUNDS- cURRETr YEAR Balance at Balance at 1 October 2019 September 2020 Income Expernliture Unrestricted funds Genej fvs 210.547 957. 1682A04) 485.807 Health Educati EnJ JP Morgan CkEse ()17-201 Ajstom (3)2(211 cr1( Suisse (Catrlrffj Readm3n Frlat Fund (Q)mmunity Fnd4h0n) MacquarE Group Foundal Mattkw and Sian westlan Diversity ProFct Cfority JP Mor9in Chase Th (20201 GeneratTh FOUla1)N Mc FklLErtln TnBI 12,518 78.4CE 255,172 320.0 29,540 70,CL 1131,&81) (1.&58) 128,536) I,934) 136,Ct 1.548 1.004 13,934 24,280 ).ct)o 125.3 123,696) I,(0) 1136.817) 112,ZJ1) 169,710) ie8.824) I.833) 1%,226) 61.1 12,231 49.671 69.710 250,(DO 833 .ct)o 161.176 (1.226) 178.254 1,249.858 1879.346) 548.7e Total of funds 8,801 2,207.522 (l.561,71) 1,034,573 PaJe 28
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 19. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS- PRIOR YEAR Balance at Balance at 1 October 2018 September 2019 Income ExpernlIre Unrestricted funds Genej furnls 179.289 1,120. (1.089.730) 210.$17 fronie FOualK Healih Educati Engk JP Moan thse (I)17-201 Ajstom (I)17-181 (Trlt Suisse (CArdtff) Readman FCrfal(ffi Fund (Community FCn9tionI MacquarE Group Foundat MattfLw and Sian Westennan Diversity Pro CIErity I,(0) 1242.654) 1257.730) 149,046) I,162) 255.172 235.OCQ 12,518 78ACE 41.136 45A97 1,036 13,934 1.385 50,CfjO 136. 12,231 I,185) I,()0) (75,285) 61.1 12,231 87.669 &q5.&17 1795.262) 178.254 Total of funds 266,958 &g5,&17 (1.884,932) 388,801 PaJe 29
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 19. STATEMENT OF FUNDS (CONTINUED) RESTRICTED FUNDS: Health Education Ewland Funding for the medical Aspiring ProfeSSnalS Programme. JP Morgan Chase FoundatK)n (2017.2020) Funding for the re9denlial BankittyFInan slrnnd for wung and an increase in trE organisation's capaaty. Alstom Funding io OFEn a orr1 and Fxofessionals. Credit Suisse Funding io work with scKDls, Ung emth)ys in aws of ihe UK wih ihe lowest sc mobility furnlirKJ io suppjt Sooal Mobility FoUatiC,S Cardiff office. Readman Foundati( Fund (Ccynmunity FOu18t10n serving Tyne & Wear and Northumberlarnl) To support ihe "Guy ReMan RisirKJ Ststs on trE Aspiring Professionals PrcKJBmme. Macquarie Group Fcundation To supwrt SMF'S aspirirg professionals wcMJram coverirg 70 particlniS in Bimiirtham and 10-15 in London eth year. Mathew and Sian Westerman Funding ihe SMF Paihfitxler ProJramme ftDm I192022. Diversity ProFct chariiy To ndu reseath on The Career Aspirations and Ex[ErienS of aspirant finance [ofessIOnalS from less &lvantages S10 enoMiC bad<grounds. JP Morgan Chase Foundation Tech (2020) To pVI( disadvantaJ&l Yng tEople who are facing additrnI hardship in a home learni vironMWIth u1pM to enable them to )nsindY asS virtLkl expeirence aTrl MOring. Generation Foundation To launch Dep2rbnÉfitfc OptxAfiJnitEs to mrt)ilise 2 Cckqlttion of dtfferent entities to take action within their srves of infiuence to iMpVe 121 mobility, to SMF¥ offerirg ID the social and environmdl and SUPFOrt SMFS core offerirgs. steve Morgan For support for the L[1 offre, by provKliro fundirg towards the salaries of the APP Ccnrdinators in Liverpcr)l. Roberlson Tt Funding towards an Alrir ProfsalS PrcMJranme Ccrrdinator in Gla8pw. Sofronie Foundatw)n Funding to pport the s(1a1 Mcl)ility Fwndation's MancEsier offi. PaJe 30
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 20. ANALYSIS OF ASss BEEN FUNDS ANYsIs OF ASss 8EEN FUNDS . CURRENT PERIOD Unrestricted Restricted funds funds 2020 2020 Totsl nds 2020 Tangible fix&1 atS DelAors due after MO ce year {rnt assets liicAE due MAlhin CE year cr115 due in mcre than one ar 7,619 7.619 8,4 8A 5G3,318 787,1 1,350,912 193.6201 (124.944) (218,W} 1113,e84) (113.&84) Total 2020 485.7 548.766 1.034.573 ANPLYSIS OF $Ss BEfwEEN FUNDS . PRIOR PERIOD unre5Cted Rescted funds fulS 2019 2019 Total funds 2019 Tangible fix asts DelAors due afier more th ce ar Qjrrent aets crlitcS due wlhin year Creditcys due in mcre than one year 9,6C 249.516 911.8AM 791.3 157.6151 1125.322) (182.957) I2,228) (18,228) Total 2019 210,$17 178.2SI 388,801 PaJe 31
THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 RECONCILIATION OF mOVEmEP IN FUNDS TO CASH FLOW FROM OPERATING 21. ACTMTIES 2020 2019 Net 1me fu the pericKI (as r Statement of Financial Activities) 645,772 121,843 Adjustments for. DeplatIOn chat7Jes Dividends, interests and rents frcyn inVestmtS 11rcreaseydease in (Èbtors (DaseInCwse in cdItorS 4.&51 1919) I12,7) 188.73n {w) 82,%2 2&8.e££) Net cash provided by operating activities 548,250 4%,137 22. ANPLYSIS OF CPSH AND CASH EQUIVALENTS 2019 Cash at bank 1.178,286 631,951 23. ANALYSIS OF CHANGES IN DEBT At30 September 2020 October 2019 Cash flows Cash at bank and in 631.951 546.135 1.178,286 PaJe 32