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 D￿AjLs OF THE CH￿IlTABLE COMPANY, ￿s TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2020 Trustees Rt Hon Akn Milbum, Chairman Narnrata Patel Lee Cain Fiona Da The￿sa Loar Lord Sluart Rc6e Cr Bandhana Rawal HeKler Ridk Ben FtKlham Company registered number Charity registered number 111 Registered t)ffke The TiM￿ryard 17 DrFdale Street LcThlon N16ND Chief Executive David Johnstrn OBE (rasign￿l 30 ￿veM￿Er 2019) Sarah AU£inscn (apW1n￿ 2 January ￿20} Independent auditc Lubtth£ Fine LLP Chartered Accoun12nts & St2trJicry AKlitors Paiemsier Hc 65 St Paul's chuthYa￿l LcrKlon EC4M 8AB Banke Coutts & Co 440 Strar L(￿lOn WC2ROQS Legal Athiso Baker & Mo* with all staff wot*ing home. The SMPS iEneficiaries. disthntaged youro W)￿e. We￿ alwdy ￿S likety to xcess elite universities and Ofessic￿S than their l*tter-off FEe￿. ba￿l￿S they face have COM￿Un￿. and rEw C￿eS creat￿. as a cOns4Uen￿ of COVID 19. While no kn experi￿CeS of the parKletnic have teen the same. (r)mmon oblems anong ￿efi￿ary g￿lp have 1rdud￿l disNpled schcKAirg crnipounded ty a lack of quiet spa to siudy arKI In￿1￿Uate aC￿sS to technolcw. ggnifK2ntly w1uc￿l provisrn of extra-￿￿UIar activitEs: and the negalive impact m￿1 health. The Pa￿em￿ has reVe￿d a cknde of prcxJress in dosirg the attainm￿tt gap. However. the SMF was ab￿ to move quickly to under*nd and res￿nd to the needs and com￿rnS of our LEneficiarEs, arvj adapl cxjr prcxJramme and otFEr actwities ￿ordIrgIy. We re￿ign￿ cxjr Frogramme content arKI actiwties for onlire deliw, creat￿1 rLw ac￿VitES and strands of support to m￿1 the emergirE ne￿ of cxjr cofKrt and refcused c￿r and campavJrs kn to focus on Ihe impact of [￿n￿1C on SC￿￿1 mobilty arnl ensure the ￿)ICeS and ex[￿r￿￿£S of disadvantaged Yc￿ng rEople are amplifth. As this ￿port shows, the SMF has dancnstrated financ&￿ and cKginIsai￿a1 resilien￿ and Ikxibilty througkKut 2019￿) and is aLAe to demonsts3te the Continu￿ rel￿an￿ of al￿1 diffe[m￿ we make. As we I￿k akEad, the trust￿ are detemii￿1 to buikl on al trE leamiro from this pericKI of C￿￿￿e and to erEure the cryanisalKn is well pl￿ to ensure S￿l￿ec(￿M￿ divetEitysits at IFE heart of the ecommic rErovwyfiDm the ndemic and that Yc￿ng 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 Imp￿1. Students apply to pin troJramme ag￿ 16117 and de￿ndIng on their home locaticn and career a$pl￿￿(rE, are *mitt&J to crE of three strands: APP City- For stlKI￿ts Imro in and near Bimingham, Cardiff, Glasgcw. Las. Liwtrd. Lon(t)n. Manchester, arnl N￿slle. APP Residential - For siudenis anwhere in the UK ouisi(È Lon(lJn. offering insight into a Sp￿1￿ ￿tor wilh a top emloyer - in 19￿) induding ANp, Akin Gump, BP. Clifford c1k4n￿, Freshfields. Hettsrt Smith F￿ehills, J.P. M￿an. KFfvIG, Linklatets. PA Consultiro. arnl White & Case. APP Reach- For wung the UK outside ourtsrget aties. es[￿￿llY in Sc￿1 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 eM￿gir¥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. i￿ll￿11r0 visiis, gUKlan￿ and SUFPOrt wilh makiro infomi&l c*K)ices. arKI kElp with appI￿atiOnS Careers advi￿ and WO￿ eX[Eren￿ pla￿rna￿ in empbyers wiihin trEir ch)sen sg WotksFKps to (Èvelop g(ills induding cOnfi(kn￿, neiwothing, public speaking and comme￿ial aware Tal￿ed support ard advi(E for un(Èrgt2duales ￿ inlarthip, graduate pipelirÈ and gradLLqte pb q)p￿￿nIknes irdudirg CV a(fvi￿ and y&inteNiew cothing We ￿rcI￿13y29 stLKlents from ￿18 schcols arKI colle￿S on our 2020 prcgramme (a 10 /u increase on ￿19) across 11 career S￿￿s.. accountancy, archil￿jre, iA3nking & firen￿. tiolcgy & chemisty, busines& diJilal. ireerirE & Fty6ics, law, rn￿la & communithns, M￿c1r￿ and FKAiknGS. A(ÈptirYJ ihe prcKJramrne for online delw frcm Wil 2020 brcught bolh C￿￿￿j&S and LEnefils. Online delivery al￿d us to ircrease our reach and engagement with st￿lents, es￿IallY 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 Q￿pared wth previous in-person events. Where emwyer partners were una￿e to adatA their anrEd WO￿ for virtLBI delw, we created SMF-host￿l virtual pLacements off￿1r￿ insvJhts plOYe￿ auoss a Ggr*r sedor. we offer￿1 913 ￿ pla￿ments 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 Commun￿ale 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 Yof￿10nal despite the pandemic ￿tiict￿S.197l volunteer ptDfesgonals mentcyed SMF stLKlerts durirg 21Y20. We hosted virtual mentcy-mentee M￿t-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 fa￿4￿fa￿ thlivery to ensure the LEst tKwible suptx)rt for SMF stu￿nIS 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- measu￿1 th￿Ugh siudent evaluation of c(￿fi(the. kr￿w￿(￿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 kNoW￿￿je, 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 preferr￿1 career S￿tOr - Measur￿ thrcuJh slu(knt evaluation of cor(FKlence and kn￿￿ge, stLKlent evalLFlTh of impact of SMF supwrl, empbyer evalualion of proJramme. stLKlent outcnmes (lnien￿l￿ a￿1 graduaie piOine cppc*tJnilEs secur&l, aumni in full time employment ￿ further thdy, alumni in highty-skll￿I em00ym￿ft) In 21Y20.' J /0 of stLthrts in 2(LO said they could not FEve obtain￿1 the work tJac£marts they did wthout trE SMF (￿19= 95/0 92 /0 of audents in increas￿1 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 I￿r0￿Jh their traditional channels I￿19. 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 stu￿ntS 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- skill￿1 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 dIff￿ent S￿torS. 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 en￿re Ihey are ow to acc￿1r0 and progressing tslent frcm ajl bad(grournls. The In(Èx encourages finns to Sha￿ their initiatives arnl prCMJ￿Ss in LEcoming m￿e 1rdUs￿ emFIops a￿1 provides cryqnisations th a CoMp￿rE1ve fec(Ibad( to infonn Iheir scthl mobility strat￿. E￿h ￿r ￿ publish a list of Ihe lop 75 empbsers and an r6ights retK)rt to share kw data, tr￿￿lS and case stsKlies acn)ss all astEcis of em ￿0Yer4￿ swial mcbiliiy. We draw on ihe ir6ights from the Ind&A to de￿0P and impm our student progranme ￿ io irrform wr *vocacy a￿1 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 rn￿11a. policy mak￿S and aca(knc as a Sour￿ of data, insvJht case siLKlies. 119 empbyers f￿M 17 sectcAs, who collectively empk)y just under one millK)n people, ￿bMitted a￿leS to ihe 2020 lrfex. In publishirg trE findirgs, we hvJhlighted ihe strong repr￿nIatiOn 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 leCh￿c*Jy. pham1aceutl￿S gaming. In 2020 ￿ Work￿ with the Sccel Md)ilty Comm6sion to develop their toolkit empbyers on sCtiC￿)nO￿IC bxkgrcund dala LEing benchmarks from the Sccial Mobility Emooy Index. In February 20I we kjncw the Dqmrbnent for Op￿rtUnItia8 ('DO'? , our c2mpaiJn and a(fvcr2cy ami and an exciliro new venlure for the SMF. the stLKlent prcNJr3mme works dir￿ wth Y￿ng rEorAe, and the Sc￿121 Mobilty Empk)yer In￿ Infi￿n￿ emFloyers to wr)iit6e sc￿121 mobilty arKI m2ke chan￿, thrcwh the Dep2rbnent for Opr(*ttJnitEs we aim to rnise public of s￿121 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 benef￿larIeS and inform&1 by insight from our njnning stLKlent proJrnmm2s and our woth wlh employe￿ incjuding thr￿h 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 qu￿klY to Ihe impacl of the pandemc and rashatE our planwl canpaKJrs and in sprirvJ 2020. DO outcomes and im sin￿ the laU￿h 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[E￿￿n 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 imF*d by CovKI.19, ccrtributing to (￿MIlIalLy￿. rou￿ table di￿￿K)nS and Padiamentary kEarinqs and erKJagirKJ w(h the Prime Minislerfs Education ReCo￿ry CcKnm1ssK)n￿, tFE Secretary of State fcr Education. Parliamm EdLrat Committee a￿1 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 ena￿Ing stLKlents to ￿￿re a pjblic rAaffonn in the national media In 2)21 we have ccffimissioned major new research it) ex[Erie￿S artl pers￿tiveS of disa(fvanlag&l Yc￿ng rE()p￿, 'Unheard vol￿., which wll support arKI infonm fuiure athctacy as well as ihe devetpment of r siudent prCmJ￿MMe 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 exc￿1rg £10 e￿h. The Company ￿as on 22 Jure tre 9)vemirvJ (tajment is tre Manorandum and thles of ceticn, whith was am￿ed by witten resclution C￿ 16 Juty 2C(E. The Company was r￿JistEr&I as a tharity in Eroland & Wales 22 August 20LE. The Charity is adrninistetEd by the boa￿1 of TNstees wkt) are also di￿*0￿ of the Charitable cc￿panY and a list￿1 cn paJe 1. TrE 1x)a￿l meets 5 times a year to erBure the rmper adrninisti3ticn of the Charity and application of lis r￿￿)UrCeS. The 04cAay ManageM￿t of the Charity is del93at￿l by the to Chief Ex￿utive ￿ rep￿ to the TrUS￿S C￿ a regular basis. Trustees are apwinted C￿lY Ly resolutions pas*xl 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 appoin￿1 for 2 tenns of three years, with a third terffl oflhree years possib￿ under excetAional carcumstan￿. The training ne￿ of each TrLE1￿ are a￿ed on an irKIivKILBJ basis arKI ac￿ to training is Offer￿ where necessary. On aptKxntsNeni eath new TrLBtee is given optx)rtunity to m￿t with the staff of Charity and is DVKled wth a copy of the Charity C(Knmissicrfs Essential TNst* guidan￿, the ctsiivs pvemirg (t￿Ment. laiesi ￿nts arKI recent LM)aKI parErs arKI minutes. TrE Twstees S￿ing 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 NeI￿n (retired 31 3M)) Dr Bina Rawal HeKler Ridha Ben RcKlham Fiona Dawscn (a￿OInt￿l 17 Fel￿l￿ry2o2l) 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 e￿1 of 2020 kBvir@ ￿rnplet￿ trEir temis of off￿. Four w trusie&s. sel￿ed 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 Trust*s will continue to monit)r and review the risk as￿sMent 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 tha￿eS OF bright but financialty disthantaged young p4)le. Our vi￿￿ is that young wple across the UK str￿ld able to thEve their ptentia regardless of their socio- economic tEd£ground. tEreffting Ihern and makirg our econorny arKI xKiety StrC￿Fr. Our mBsion is lo suptK)rt arKI champi)n yourg tEotAe from scKL￿eCC￿orniC backgrourKls. breajong ck)wn the barriers tst prevent thern achieviru trEir pol￿￿1a1 arKJ md)ilising otfErs to take positive action on social rnoiilty. SMF advan￿ ils tharitable cbFcfjves through: Providiro se￿￿eS to youro ￿pIe, i￿l￿11r￿ wjrk experie￿. m￿￿r￿, skills worksfws a￿1 university Msiis. Our wwces t￿￿KIed ￿*1￿lY of charue wth c￿r p￿raMrlleS otEn to your@ twtle ac￿$ ihe UK wih el￿￿1b11Ity bas￿1 on s￿iC￿eC£Mrnc and acalemic uiteria. Providirg a(￿(￿y, thice and infcmialDn, i￿lL￿11r￿ and inft*malrn to Y￿ng wple cn our pww)me atK)ut ￿luc￿l￿ and car*r pathways, and ad￿e and infonnation to eMpt)Ye￿ a otrErs aLrLrt effecive ￿tial mobility [￿￿1￿. Advi￿ and InfC￿rnathC￿ tr) young p￿)ple on ￿r p￿g13mMe is ovi(knl entirety ftEe of C￿￿￿. We ad￿tate for ￿enesS of soaal mc*)ility and acthon on S￿la1 class disadvaniage thnrJh our campaigns a￿n, ItrE tH)arbnent for Op[mJ￿Jnl1￿s. Underla£ing resewth. particulaty into the experiences and [￿s￿tiveS of ycung wple frcm sco ncmic baCkgr￿r￿ls, 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 publ￿a￿anS. events arKI engawnurtwith makers the media. TrE eligiLxlty uiteiia our stLKlent p￿jrnmme we: Soa(￿On(￿nic.' Yc￿ng wple elTrJible for free schc()I meals. a￿or wll LE Ihe fi￿ in Iheir families to attend university. havirg aithed a schcd with a signifrant proportion of pupils on f￿e sctrK()I meals, arKJ1C￿ ￿ care ey[ErEn￿d. Academic: typicalty ptulited ABB at A-Level cr ABBB at HigFErs and have c1)lai￿1 at least 4 A17 grades at GCSE CY 4 AIB grades at Naliywl 5. We take scKic￿e{￿0miC context into acrount when ccrsicÈring academic elKJibility. In shapirg c*)lec￿veS for year and planning cxjr ac￿VI￿es, tre Trustees have ccYEic￿red ihe Charity CommiSsic￿'S gUKlaN￿ public I￿nefIt includirE guidarre'txJl￿iC I￿nefit. runnirrJ a charity IPB2)'. Reserves policy and going concern The TNstees are [lea￿l to IB)￿1 that tclal funds at 30 Septemter JY20 anount to £1.034,573 (￿19. £￿,￿￿1) of which unrestric￿1 ￿eNeS amwnt to £485,8￿7 (2019: £210,54n and ￿stil(￿l funds amwnt to £548,766 (2019: £178254). Whilst the TNstees are satisfi￿1 with trE of reseNes are activety seeking more funds to expand the activities of the Charty. The reseNes are con*ered ￿1￿uate at this staje and wll continue to tk reviewed during the C￿￿ent 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 reg1Q￿al OfFI￿ during the year has i￿reaS￿ costs fcr the Charity. However, the bal￿ shed ￿MaInS at the 30 September 20￿1 with tolal fU￿S OF £1,034,573 (￿19 - £3e8,801) and cash at I￿nk of£1,178,286 I￿19- £631,￿1). TRUSTEES. RESPONSIBIL￿lEs STATEMETr The (tho are also dir*rs 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 applical￿e 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 r￿OUr￿ and ap￿￿ti)n of r￿Our￿. inckjding Ihe incorne and ewenditure. of charitable company fcy that [Eri￿. In weparirYJ these financ￿1 statem￿. the Trust￿ are required to: lect ￿ltable aC£c￿ntIng w1￿4eS 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 charital￿e companywill continue in 0￿?tiOn. The TrusÈes are responsible for keepiro ad￿uate accounting r￿S that are suffioent ID show and explain the charitsble companys transactions and disclose with reascretAe a￿Ur￿ 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 saf￿Juard1rVJ 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 Infc￿a1￿)n in￿￿￿1 C￿ the c*wilable ￿mpar￿S website. L8JiSlatiC￿ in the Unit￿1 lfjrodom pveming trE pwwation and dissemination of firBncial statements may differ from bJislaticn in other jurisdic￿OrE. DISCLOSURE OF INFORMATION TO AUDITORS Eth ofthe who are TNst*s at the time Wh￿ this Trusiees. Rewt is 4proved has cnnFirM￿l that so far as that TrL* is aware, there is no rel￿ant audit infomiation of wh￿h 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 ￿p￿Ant will be pro￿ at ihe AnnLHI Gene￿1 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 StateM￿rt of Financwj AGl1vit￿. the Balan￿ SfEet. the Statemenl of C&h Fkn and tFE ￿lat￿ no￿, irKaudiro a summary of S￿nIfICant accounlinq [L)lic￿. The financial rewrfiro framewort Ihit kkas LEen arpli&l in Iheir ptEpatBtickn is ai)plicaLAe law , i￿liK11r0 Finanaal Rewrtiro &an(l¥d 102 The Finanaal Rewling Starnlard applrable in Ihe UK and Republic of Ireland, (Unit lfjngdcm Gene￿jty A￿pted Accounting PraclKE). In ￿r opinKn Ihe fin￿￿la1 slalements: give a t￿e 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 e￿enditU￿ 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 ￿￿nsIbIlI￿eS under those standards 2re fUrtFV￿￿ibed in the Auditc￿s, ￿￿rEIb11it1eS for the aLKlit of firkqnoal s12tements s￿n of our rewrt We lrKlerEn(￿nt of (*kqrit3ble (rmrkqny in *mrdqn Ih the ethiql reqU1￿mentS 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 requIrem￿s. We t￿l￿ve 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 con￿rn basis of acc￿ntir￿ in the preparntr)n ofthe fi￿Cial StaI￿a￿S is not app￿prIate. or the TnBtees have not dix10￿1 in the financial slatements ary identifi￿1 material uncertainlies that may cast signi￿ant (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 Stat￿￿S 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 {CoF￿1NuED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 OTHER INFORMATION TrLBtees are resFxThiLAe for other inf0rnat￿n. The other infomiation comFYises the information I￿luded 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 cOnn￿n wth c￿r audit of the fitHKial slatements, our ￿S￿nsIbIlity E to Ihe olher infonnation and. in doing so. consider wkEther Ihe cther infomiation E materially It￿OnSIstent wth Ihe financial slatemenls or our k￿e(*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 r￿ul[￿l to deiermine whether true is a maleml rnisstaiement in Ihe finanoal staternents or a maknl rnissiatement of Ihe crther irrfonnation. If. tla￿1 on Ihe woth tErfCThi￿j. we condu(È that there is a maerial rnlsstai8n￿tt of Ihis otrw inf0miatl￿. ￿ are r￿ul￿1 to report ihat fact. We Iwe nothing to repcrt in ihis r￿ard. OPINION ON OTHER MAThERS PRESECRIBED BY THE COMPANIES ACT 2(K)6 In opinK)n. ba*d 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 [repa￿d is consistent wlh Ihe fin￿la1 slatements. ihe Twsteeg Rerxyt has LEen prepar&1 in accordan￿ a)p1112￿ legal r￿Ul￿ents. mA￿ERs ON WHICH WE ARE REQURIED TO REPORT BY EXCEPTION In tre IKJht of our k￿￿ge and U￿erstanding of ihe charitaLAe company a￿1 its ￿IrOnMent oLla1￿1 in trE course of trE audit ￿ ha￿ mt Klenttfi*l 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 b￿ncheS visited by us" or ihe firorcial gatements not in agr&ment with ￿)unting rEc(￿dS relums" c rtain d1th￿reS of TnBtees' ￿MUneratiOn specifi￿1 by law are noi m￿le. c we have not ￿1Ved all the infonnatrn and explanations we ￿uIre fc￿ our aLKI¢ c e TnBtees ￿re not enliU& to prepare finarcial stat￿nentS in acr0rdan￿ with the srnall ccThpanies r￿l￿e and take advantage of ￿all comFHnies' exemptions in prepariro Trustees, ReFK)rt and from ihe rquirement to prepare a Sts3￿1C ReFK)rL PaJe 10 THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) INDEPENDETr￿ PUDITORS. REPORT TO THE MEMBERS OF THE SOCIAL MOBILtrY FOUNDATION {CoF￿1NuED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 RESPONSIBILMES OF TRUSTEES As explain￿1 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 financ￿1 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 [￿a￿tion of finatKial staiemenis that free from malerkql misstaiemart whether d￿ to fraud or e￿Or. In prwiro trE financial statemenis, Ihe Trustees are reswnsible f(￿ &sessing Ihe charitable companls ability to cCrtIn￿ as a ￿Ar0 ccncern. dI￿Ing, as aprAicable, Matte￿ related to ￿1r0 1X)n￿M arnl usiro Ihe going con￿rn basE of ￿￿ntir0 unless Ihe Trustees either inte￿1 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 STATEMEp￿s Our obJ￿]veS are to obtain reasonaLle assurance aLK)ut wheiher the finanoal siatements as a w￿e 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 aSSu￿n￿. but is not a gua￿ntee 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, i￿liVKIua1IY or in trE aggregaie. they ccukl reasonably I exrEded to lnfiUen￿ the 8xnomic (Ècisicns of users taken trE bas6 of ihese financial sIal￿nen(s. A furtFEr description of c￿r ￿SponSil￿1ibeS 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 b￿n 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 pu￿ose. To the fullest eXi￿rt 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 Fa￿Y (SenN)r StstutoryJ4Klitor) for arKI on tEFkilf of Lubbock Fine LLP (JOrter￿ Accnunlants & S13tutoryAuditcrs Pat￿Èr 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 EXPEND￿uRE ON: Raisirg furKIs Charitable aC￿vitE% 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 ExPEND￿URE 682.404 879. 1.&91,9 MOVEMENT IN FUNDS BEFORE OTHER RECOGNISED GAJNS RECONCIUATION OF FUNDS: Tolal furKls b￿￿gh1 foThVa￿l 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 Ac￿vitE8 includes all gairs and kx8es reccMJnis&l in the year. mtes on pages 15 to L fcffii FHrt of these fi￿n(￿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 ASs￿s 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 (￿lIC￿s. amounts falling due wthin one 13 1218.5641 (182.957) CURRENT ASs￿s TOTAL ASs￿s LESS CURRENT LIABIL￿lEs 1,140,838 617,4 1,148.457 627.0 Crediicrs: am￿nts falling dLE after more than c￿e year 14 1113.884) (238.228) TOTPL 1,034,573 388,801 CHARITY FUNDS Restr￿ted 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 ￿tit￿S ￿bI￿1 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 F￿￿Kase of taroible fLY&I a￿15 12,864) (lo.0￿} CASH USED IN INVESTING AC￿v￿lEs (1.915) (9.412) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 546.335 486.925 Cash a￿1 cash quI￿aleniS 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 AccOUTr￿1NG POLICIES 1.1 Basis of preparation of finan￿1 sLitements The fina￿la1 Statem￿ have LEen in accordan￿ wih trE CharitEs SORP (FRS 102) - ntirg and Rewting by Ckpribes: s￿tem￿tt of R￿mm￿(￿ Practi￿ atvlic3LAe to ckwibes p￿parIng 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(L￿￿1 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 recoJni*d at histrical cost ￿ tranwiion value unless cthemise slated in the relevant accnuntirg wlcy. 12 C￿￿panY 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 eV￿l of Ihe Charity LEing ￿Und up, the lebilty in r&sFECt of tre guaran￿ is limiW ID £10 FEr ofthe Charity. The ￿giste￿d (IfFice address and princi￿1 of business is The Tirn￿r ya￿1, 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 reStriC￿onS imFX￿d by ckYK)rs or whith have raised by cF0rital￿e Ccynpany for tMrticular pur[)0￿. The costs of raising and ￿lMinIster1ng suth furKts are tr￿rged ￿jainst the stRoficfvnd. The aim and u* of e￿h restiicted furKI is set out in tIE to financial slatements. 1A Income Al irrnme is ￿(￿NJnI￿l once the Charitable CcAnpany has ￿tit1￿ment to the income. it is pnbable that the irmne will be rec&￿1 arKI amount of irrnme ￿e1vab￿ can ￿ measU￿d reliably. seN￿S and f￿llItIeS aE Inclu￿ at the value to the Charity Whe￿ this Gan quantif and ￿liablY estimated. CCIrtr￿ ircome from charital￿e aCtiV￿eS is a(xcun￿l forwhen r￿1vable. Revenue arKI capital grants are ac£cxJnted for gross when notificaiTh is reCEi￿1 arKI conditK¥B are met. Where trE grants S￿fy time FEricKI they relate to. they are ￿0jni*d as in(x)me in that tk*wtion and fundraising in(xThe is r￿JniSed 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 Me￿￿1 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 AccOUTr￿1NG POLICIES (cO￿lNUED) 1.6 Expenditsjre ExperKll￿re is incILKI￿1 C￿ an acLTuals basis all c£sts related to each charitaLAe activity have b&n alktat£rl d1￿C￿Y to that acbvity. WIEn costs cannot LE di[￿￿Y attriLL￿d to an ac*Mty they been allctated cn a basis consistent wlh the u* of ￿sC￿r￿s. TrE vast majoriiy of ￿p￿rt cosis comprise ￿lat￿l o)sts arKI professK)nal fees. Cosis of ￿sing funds we o)sts 1Th￿nEd in aitrathng ￿lunlary income, those in trading tiwlEs that tBise furnls. CharitaUe activity cx)sts are costs incurr￿1 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 a￿1 level Orc￿al]0￿S is depen(knt cll trE availability ofworkirvJ wiial FrOVi(￿l by grants donalrns. The Board of Trustees are continucusly mcnitoriro Ihe activitEs ca￿Ed 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 p￿liMIr0ry fowast re￿liS 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)r￿M. On ihis bas6, Twstees CCnSKlers it aprroykate to prepa￿ trE finanoal slaiements on a ￿Ar0 cOn￿M 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 (￿p￿￿t￿n. The costs of rll1￿ additions cr those costing LElow are not caFXtalwl. T2rgible fixed assets are CArri&I at cosL rÈt of deV￿latiOn and ary provision for imFoinnent. Dep￿￿ati￿ 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 ￿£ti￿es ircorwrating Income and Expenditure A£cnunt on a straight line basis ihe lease IHM. 1.10 Taxation There is no c*wp to tax due to the nature of the acbmties Ggrried out by the onJanisatr)n. The Chariivs eX￿ndItUre is indusive of input VAT which cannc* ￿7)Ve￿I. PaJe 16 THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 AccOUTr￿1NG POLICIES (cO￿lNUED) 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. T￿n￿tionS in foreign cunEnaes atE tsBnSlat￿ into sterfing at the raie ruling on the (kte of the transadion. Excharoe gains and losses ￿￿gnis￿l in trE Stalement of Finanaal ActivitEs i￿orpO￿ling Income and Expendiiure Ac4X)unL 1.12 Debto Trade and clher debtors are reccgnis￿l at Ihe sett￿ent amount after ffj tr￿e discount off￿ed. Prepa￿￿eniS are valwl at the arn(￿nt prepaKI rEt of anytra(È disccunts due. 1.13 Cash at bank a￿1 in FHnd Cash at bank in hand includes cash and short4enn highty IKiuid investsnents wilh a sFut maiurity of th￿e monihs or less from ihe dale of aquisiiK)n oropening of ihe deposit or similar ac￿Int. 1.14 Liabilites and pr￿SlOn5 Liabilibes are reccunised wFEn trve is an d)ligation at ihe Balan￿ Sh￿t 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 r￿ul￿1 to settÈ the cbligation. Trade and other creditors are r￿JniS￿ at the setuement amount after arytrade dis￿Unt receiv&l. •• njals are valued bas&1 on trE estimated am￿nt lo paid. 1.15 Financial instruments The CFLqri12ble CompAny onty Fkqs firkqntiql assels 2nd finan￿1 liqbilities of a kind th2t qualify 2S bas￿ financiql Instrum￿￿. Basic finanoal instsumenls are inib2lly wnised at ts2n&qction value and ￿b￿uentIY Maqsur￿ at trEir setmemont value with the Q￿ptiOn of tkqnk loans which are subsequenty measur￿1 at amorti￿1 ccst LEirvJ eff￿1ve inier&%t methcKI. 1.16 Pensions The Chari12ble Ccmpany cperalRs a defin&l 0)ntr1t￿r￿ pensrm sdEme arKI the FYEion tharge represents the aM￿nIS payatAe by the Charit2tAe cOmp￿Yt0 the fund in respect of year. The pensKrs extErse is allocated be￿￿ funds in ￿rdan￿ wth the wages allcKation. The c￿ditOr is Unrestric￿1. PaJe 17 THE SOCiAL MOBILtrY FOUNDATION (A ccmnpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 lNCOMEI(EXPEND￿uRE) This is stated after charging.. 2020 2019 Dep￿latIOn of tangible fi￿1 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 g￿n(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 (contin￿d) Gifts in Kind Gifts in Kind are SFAii as follows.. Unrestricted funds 2020 Totsl nds 2020 Pro bcm I￿al fees Use of facilibes offi￿ sp￿e 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 fu￿lS 2019 Totsl nds 2019 I￿JaI f Use of facilibes offi￿ spxe Summer ￿eptIOn Marketir Professional devebpment t(￿1 kit 59.428 262,C(t) 18.471 2.0￿1 133,655 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 a0￿Jn on the basis that a valLE cr￿jId 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 i￿ome un￿strICted fU￿lS 2019 Totsl funds 2019 Investment ircorne OTHER INCOMING RESOURCES Unrestricted fu￿lS 2020 Total nds 2020 (jiher In(￿rNe 2.3 Unresthcted fu￿lS 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.8￿5 10,719 1,314 274 112 162 39.038 Total 2020 45A61 51. Unrestricted fu￿lS 2019 Totsl funds 2019 Siaff cc6ts of raisir@ fv￿s- wages and salaries Staff costs of raisiry funds- Nl Staff costs of raisirg funds- per￿10￿ 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 EXPEND￿uRE ON CHARITABLE AcT￿￿lEs Summary by furnl type Unrestricted Restricted funds funds 2020 2020 Totsl nds 2020 StLKlent progrnrllme EmFloyer Index DepartM￿tt 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 Res￿cted funds fu￿lS 2019 2019 Total nds 2019 SiLKlent prog￿MmeS EmFloyer In(Èx DepartM￿t 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 In￿X 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 EXpEND￿uRE BY ACnVITIES (CONTINUED) Activities undertaken directly 2019 Support Totsl funds 2019 2019 StLKlent progThnmes EmFloyer Index Departs￿￿t 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 Emp￿0Yer Opportuniti Index 2020 Total funds 2020 staff costs Dep￿lation Olher Staff costs Printing, tx)stage arKI slaiy Premses costs T￿Ve1 a￿ subsisien MiscallenEr)us al arKI p￿esS￿r￿ DilapK1atic￿S 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 EXpEND￿uRE BY ACnVITIES (CONTINUED) AN￿YsIs OF SUPPORT COSTS (contin￿d) Department s￿dent Emkloyer OpixX￿nitl crfJrammes Index 2019 2019 Total nds 2019 2019 Staff cA)sts Dep￿latIOn 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 O￿ts ()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. I￿lKI1r0 saLqry. ￿nS￿)nS and emF105￿ national Inw[a￿e. of Ihe key manawent tErsonnel of trE Charity was £80.916 (2019- £91.079}. No trust￿ r￿1Ved remuneration cf in kirnl durro current ￿ar cr prior pericKI. No trUS￿S were re1m￿rs￿l travel expenses (2019- ￿). 11. TANGIBLE FIXED ASs￿s Fithres and Computer equipment Total Cost orwdluation At 10(lober2019 A(klikncrs 32.1n 867 1,997 At 30 Se*mLw 20￿> 7,375 27,662 35,037 Depreciation At 1 Oc*ober 2019 CP￿r￿ 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 SeF*emLv ￿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 Prepayrn￿s 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 S￿la1 security Ac(JLds th defenul in(xffle 27,552 155.41 194.682 218.564 182,957 Deferr￿1 incnme relates ID grant income which was (￿ferr& in lirE wilh grant agre￿nents. 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 m￿e than one year 2019 ACC￿alS and def￿￿1 inctKNe 113,884 TJ8,228 Deferred incxjme relates to grant incorne which was ckferred in lire wilh grant agreements. BroLKJht forward cwerred 1￿c￿ne 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 cCrtributi￿S persion theme. assets of trE scheme are held separntely f￿M those of the Charity in an inder￿￿enty adrninis￿￿l fLnd. rEnSIc￿ cost charge tEpr&ents contributions payab￿ by tre CFBiity tr) the fvnd arKI amoun￿1 to £￿).212 (2019 - £23.Y26). contr11￿tiOnS tclalling £4.044 (2019 - £4,2￿)) were payable to the furd at the balan￿ sheet date and a inthded in cr￿lIt0rs. 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 Comm￿MENTs At 30 September 20￿ charitab￿ Ccxnpany had commitments to make fuiure minimum kne payrnents un￿r nOr￿canCelIable 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 measur￿1 at amottsed cost 179A16 1K),428 2019 Fi￿￿la1 Imbilities Fina￿la1 Id)ilitEs mea￿red at amorti￿1 cost 6S,738 30,0 Financial assets measured at amorb*d o)st (￿lpr￿e other cÈbtcrs and ac(xued incc#ne. FIna￿la1 lthilitEs measured at amorti￿1 o)st comprise of accruals. 18. RELATED PARTY TRPNSACTIONS Trwe We￿ no ￿lated paty ts2rtsactK￿S 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 Gene￿j fv￿s 210.547 957. 1682A04) 485.807 Health Educati￿ EnJ JP Morgan CkEse (￿)17-201 Ajstom (3)2(￿211 cr￿1( Suisse (Catrlrffj Readm3n F￿r￿lat￿ Fund (Q)mmunity F￿nd4h0n) MacquarE Group Foundal Mattkw and Sian west￿lan Diversity ProFct Cfority JP Mor9in Chase T￿h (20201 GeneratTh FOU￿la1￿)N Mc FklLErt￿ln 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.561,7￿1) 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 ExpernlI￿re Unrestricted funds Gene￿j furnls 179.289 1,120.￿ (1.089.730) 210.$17 fronie FOu￿alK Healih Educati￿ Engk JP Mo￿an thse (I)17-201 Ajstom (I)17-181 (Tr￿lt Suisse (CArdtff) Readman FC￿rfal(ffi Fund (Community FC￿n￿9tionI 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 ProfeSS￿nalS 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 sc*KDls, ￿Ung emth)ys in aws of ihe UK wih ihe lowest sc mobility furnlirKJ io suppjt Sooal Mobility FoU￿atiC￿,S Cardiff office. Readman Foundati(￿ Fund (Ccynmunity FOu￿18t10n serving Tyne & Wear and Northumberlarnl) To support ihe "Guy Re￿Man RisirKJ Ststs on trE Aspiring Professionals PrcKJBmme. Macquarie Group Fcundation To supwrt SMF'S aspirirg professionals wcMJram coverirg 70 particl￿niS 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[Erien￿S of aspirant finance [￿ofessIOnalS from less &lvantages S￿10 e￿noMiC bad