2021-08-31-accounts

IntoUni

(A company limited by guarantee)

Working Name Into University

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Company number: 6019150 Charity number (England and Wales): 1118525 Charity number (Scotland): SCO49776

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Letter from the Chairman

When I come to Into University I can focus, and the community is just amazing. At home there are distractions, so it really helps me to focus here - everything is set up perfectly for me. The centre provides you with a safe and good environment to learn in. Each time I come to Into University there’s always something that I learn. Into University has given me aspirations and a direction to follow.’

Year 9 student, Walworth

In the 2020-21 academic year Into University centres across the UK supported more than 40,000 children, young people and student associates through its FOCUS, Academic Support and Mentoring schemes, through the Uni Connect programme, through its Student Associate Network, and through remote support during the COVID-19 closure period.

We were delighted to reopen our learning centres for the beginning of the 2020-21 academic year, having supported students remotely since March 2020 due to the COVID-19 pandemic and resulting government restrictions. As a result of the third national lockdown in England, we returned to supporting our young people remotely in January 2021, extending our remote support offer over the spring term. Following this, in April 2021, we were very pleased that in light of new government guidance in both England and Scotland, our centres were able to reopen and offer a blended programme of face-to-face and online support.

In these challenging times, the charity has pressed ahead with its expansion plan, opening six centres in 2021 - our most ambitious year to date.

We were delighted to expand into Scotland for the first time, in partnership with the University of Edinburgh and University of Glasgow. The charity opened centres in Edinburgh and Glasgow in Spring 2021, with a further centre in Glasgow launching in Autumn 2021. Once these centres are established, they expect to support more than 3,000 young people in Scotland each year.

The charity also opened a centre in Norwich in April 2021, in partnership with the University of East Anglia. Despite this mid-year opening, we were really pleased that the centre was able to support over 800 students in its opening months.

In Autumn 2021, we have also opened new centres in Bradford, in partnership with Queen’s College, Cambridge, and a centre in Newcastle, in partnership with the University of Newcastle and the University of Northumbria.

Digital poverty is a key obstacle for our students. During COVID-19 lockdowns, many of our students were trying to keep up with remote learning on shared devices or mobile phones. Despite local and national initiatives to provide devices for disadvantaged families, a detailed survey of our students revealed that many of our highest need students still reported major access issues, with many of our students lacking the basic equipment they need to study. Over each lockdown, we focused on supporting students no matter what their digital provision was at home.

During the third lockdown, in February 2021, we sought to address the digital divide through launching an urgent appeal to provide 500 of our high-need students across our network with new Chromebooks. Thanks to the generosity of our supporters, we were able to get this equipment to the students who needed it most.

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Our work depends on the continued generosity of our funders. We are truly grateful to our wider community of funders and partners for their support - from trusts and foundations, companies, individual donors and academic institutional partners, including universities and schools. On behalf of everyone at Into University, we would like to thank you for your continued generous support, which is enabling us to raise the aspirations of young people from disadvantaged backgrounds and provide them with the guidance and support they need to achieve their ambitions.

Two of the charity’s strategic university partnerships received recognition from awards during the year.

In October 2020, the charity’s long-term partnership with the University of Nottingham was recognised with a National Education Opportunities Network (NEON) Widening Access Partnership Award. The NEON Awards provide a platform to celebrate the successes and accomplishments of NEON’s members and their learners in widening access to higher education and enabling social mobility. The University of Nottingham has now supported the charity’s centres in Nottingham for a decade – we remain hugely grateful for the university’s critical support.

In June 2021, the charity’s partnership with the University of Edinburgh and University of Glasgow received a gold-level CASE Circle of Excellence Award for its targeted fundraising campaign for the establishment of three centres in Scotland. The judges commented: “We really enjoyed the creativity and collective partnership between these three institutions in launching a fundraising campaign to better serve Scotland’s children from disadvantaged communities in navigating educational pathways.”

On behalf of both the board and the Senior Management Team, I would like to thank sincerely Sir Eric Thomas who has retired as a trustee after more than eight years. Thank you Eric for everything that you have done for the charity. I would also like to warmly welcome Professor Nishan Canagarajah as a trustee.

Finally, I want to thank our staff team and volunteers for their wholehearted dedication to our values. The Trustees are indebted to you for your professionalism, teamwork and commitment, and of course your genuine care and compassion for our cause.

Oliver Haarmann

Chairman

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CONTENTS For the year ended 31 August 2021

Letter from the Chairman	2
Contents	4
Report of the Trustees	5-23
Independent Auditor’s Report	24-26
Statement of Financial Activities	27
Balance Sheet	28
Statement of Cash Flows	29
Notes to the Financial Statements	30-44

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INTOUNI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

The Trustees present their report and audited financial statements for the year ended 31 August 2021.

Reference and administrative information

Charity Name: Into Uni Working Name: Into University Charity Number (England & Wales): 1118525 Charity Number (Scotland): SCO49776 Company Number: 6019150 Registered Office and Operational Address: 95 Sirdar Road London W11 4EQ

Trustees

Nilufer von Bismarck OBE Roderick Brooks Professor Cedric Nishanthan Canagarajah[1] Pasha Coupet Michaelsen Julian Granville Oliver Haarmann Chairman Sarah Havens Christoph Henkel Sophia Lewisohn[2] Vice Chair Clare Richards MBE[2] Safeguarding Trustee Sir Eric Thomas[3] Steve Windsor Treasurer

1 Appointed on 9 March 2021 2 Nominated by The ClementJames Centre 3 Stood down on 8 September 2021

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The composition of the committees below is as at 31 August 2021:

Advisory Panel

David Alleyne[1 ] Tom Arbuthnott[1 ] Maria Bentley Nils Blythe Nicholas Bull Simon Cairns Rachel Caldéron Clare Carolan Jessica Cecil Victoria Corcoran Meeta Dave[1 ] Patrick Derham Adele Eastman Roger Enock Cortland Fransella Perdita Fraser Katrin Henkel Mouhssin Ismail[1 ] Elizabeth Jack Fiona Laffan James Lambert Paywast Lateef[1 ] Tim Lee Janet Legrand Alasdair Macdonald Davina Mallinckrodt Priscilla Mensah

Lucy Morris Catherine Nelson Harlem Nguyen[1 ] Rosemary O’Mahoney Solomon Pervez[1 ] Hilai Qahari[1 ] Steve Rafferty Alec Rattray Caspar Rock Samaira Saleem[1 ] Nitin Sharma Mary Ann Sieghart Nat Sloane Rebecca Smith Ros Smith Chris Stephens Andrew Stewart Amelia Sussman Colin Tyler Ed Vainker[1 ] Tim Webb Eric Wilkinson Nick Wright Members of the Trustee Board Senior Management Team Senior Leadership Team Student Advisory Panel Representatives

1 Joined the Advisory Panel during the year

Audit and Risk Committee

Clare Richards MBE (Chair) Julian Granville

Sophia Lewisohn

Campaign Board

Nilufer von Bismarck OBE Roderick Brooks (Chair designate)

Oliver Haarmann (Chair) Sir Eric Thomas

Investment Committee

Roderick Brooks Dr Rachel Carr OBE Daniel Century

Oliver Haarmann Steve Windsor (Chair)

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Nominations Committee

Nilufer von Bismarck OBE Oliver Haarmann Sophia Lewisohn (Chair)

Remuneration Committee

Oliver Haarmann (Chair) Christoph Henkel

Pasha Coupet Michaelsen (Chair designate) Clare Richards MBE Steve Windsor

The Trustees have also formed a Diversity and Inclusion Committee in September 2021. The composition of this committee will be shown in the 2021-22 accounts.

Senior Management Team

Dr Rachel Carr OBE Daniel Century

Hannah Purkiss Dr Hugh Rayment-Pickard MBE

Senior Leadership Team Senior Management Team Laura Barton John Bleasdale

Laura Culverhouse Eilis O’Donnell

Auditor

Haysmacintyre LLP, 10 Queen Street Place, London EC4R 1AG

Principal Bankers

Lloyds Bank plc, 25 Gresham Street, London EC2V 7HN CAF Bank, 25 Kings Hill, West Malling, Kent ME19 4JQ

Investment Managers

BlackRock Investment Management (UK) Ltd, 2 Throgmorton Avenue, London EC2N 2DL Schroder Investments Ltd, 31 Gresham Street, London EC2V 7QA

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INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021

Structure, Governance and Management

Governing Document

Into Uni (“ Into University”, “the charity”) is a charitable company limited by guarantee, incorporated on 5 December 2006 and registered as a charity on 26 March 2007. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The charity operates under the working name of Into University.

Relationship with The ClementJames Centre

The Into University charity grew out of the Into University work that was started at another charity, the St Clement and St James Community Development Project (now known as The ClementJames Centre) in 2002. The Into University work at The ClementJames Centre (known as Into University North Kensington) is affiliated to, and receives grants from, the Into University charity, but remains under the governance of the Trustees of The ClementJames Centre and the management of its Chief Executive. Into University North Kensington received total grants of £190,000 in the year ended 31 August 2021 (year ended 31 August 2020: £190,000). All other centres are managed directly by Into University.

Recruitment and Appointment of Trustees

The directors of the company are also charity Trustees for the purposes of charity law. The Trustees who served during the period and up to the date of this report are set out on page 5. The Report of the Trustees is the Directors’ Report in accordance with section 415 of the Companies Act 2006.

The members of the company are the Trustees; there are no other members. The members of the company have guaranteed the liabilities of the company up to £1.

The Board of Trustees consists of at least one and not more than three persons appointed by The ClementJames Centre, and such other person/s as the members may appoint by ordinary resolution.

When vacancies arise on the Board, or when the needs of the Board are being reviewed, the Nominations Committee identifies the need for new Trustees and recommends candidates to the Board in a process that complies with the governing document. Interviews are carried out by the Nominations Committee. Successful candidates are invited to join the Trustee Board, subject to references, criminal record checks and approval by the full Trustee Board.

The Board aims to be representative of the educational work of the charity and to ensure that it has available a broad range of skills and expertise amongst its members. A regular audit of the skills of the Trustees is carried out in order to ensure that a broad range of skills is represented on the Board.

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Trustee Induction and Training

An information pack about the charity is sent to new Trustees, including their duties and the charity’s expectations of them, and a full induction process is arranged. New Trustees meet existing Trustees, key members of staff and volunteers and are introduced to the charity’s work, values, programmes and safeguarding approach.

Organisational Structure

During the year to 31 August 2021, the Board met five times (via videoconference due to COVID-19 restrictions), including an Away Day. These meetings also involved members of staff as appropriate.

The role of the Board is to provide oversight of the charity’s activities, including planning, approval of annual budgets and review of the charity’s results and achievements. The Board also provides general support to the Chief Executive and her staff. The day-to-day running of the charity is carried out by the staff team, with support from volunteers, under the leadership of the Senior Management Team. The Senior Management Team comprises the Chief Executive and Co-Founder, Dr Rachel Carr; the Chief Strategy Officer and Co-Founder, Dr Hugh Rayment-Pickard; the Director of Finance, Daniel Century; and the Director of Operations, Hannah Purkiss.

Sub-committees of the Trustee Board (listed on pages 6-7) oversee specific areas of the charity and report regularly to the Trustee Board. During the period the Advisory Panel met three times (via videoconference) to consider areas of significant interest in the charity’s development. The Trustees would like to thank the members of the Advisory Panel for the invaluable support and guidance they provide.

Pay Policy for Key Management Personnel

The Trustees consider that the Board of Trustees and the Senior Management Team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in note 7 and note 17 to the accounts respectively.

The pay of the Senior Management Team and all staff is reviewed annually by the Remuneration Committee, and recommendations are made to the Trustees accordingly. Staff pay rises are considered in the context of the following factors: inflation; harmonisation and fairness; promotion with increased responsibility; and recognition and reward of experience. The charity also benchmarks against pay structures in comparable organisations.

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Objectives and Activities

As stated in the governing documents (the Memorandum and Articles), the objects of the charity are:

• a) To advance the education of children and young people in deprived communities across the United Kingdom.

• b) To run local education centres providing services to address educational underachievement and social exclusion.

• c) To provide training, consultancy and management services to other agencies working to advance the education of children and young people in deprived communities across the United Kingdom.

The charity’s current growth plan includes ambitious plans to reach even more social mobility coldspots and educationally underserved regions of the United Kingdom.

Public Benefit

The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning its future activities.

The Main Activities of the Charity

The charity runs an integrated education programme addressing the barriers and challenges faced by young people growing up in areas of economic, social, cultural, or linguistic disadvantage. At the heart of the programme is the belief that the needs of young people are best addressed in the context of a long-term pastoral engagement where the charity can build self-esteem and support learning to enable young people to reach their potential to go to university or realise another chosen aspiration.

The charity’s normal delivery model is detailed below. For details of how the charity’s programmes were adapted for COVID-19 restrictions during the year, please see page 15.

The charity provides a centre-based service. The centre is a distinctive place of belonging for students, chosen by them and available to them all year round. Staff create a positive ethos and provide children with intensive hands-on learning in a non-school context. Young people have a fresh start at the end of the school day, engaging with staff who have no preconceived expectations based on their behaviour at school. The centres are places that users choose to attend, not places they have to attend.

The charity aims to be a ‘home-from-home’ rather than a ‘school-from-school’. Staff aim to provide the kind of academic support and personal expectation that is a matter of course in many middle-class families.

The charity starts working with young people from as young as seven and aims to work with them over the long term until university access. Academic research on access to university for children from socially-excluded groups stresses the importance of aspiration to future university study from a young age. Most other widening participation projects addressing underachievement begin at secondary age. In contrast, the charity starts working with children from as early as Year 2.

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The charity aims to have a high ratio of staff/volunteers to students. This is crucial both for the quality of the educational support and the maintenance of pastoral relationships. It enables the development of positive, affirming relationships with young people who receive substantial individual attention.

The charity aims to provide a positive, aspirational ethos, believing that children and young people can succeed in life and that their decisions and the attitudes they have help shape their futures for good or bad. Staff work to promote good behaviour, pride in achievements and a positive, safe and stimulating out-of-school environment.

The charity takes a multi-stranded approach, recognising that young people require a range of support in order to raise and attain their aspirations: academic support, new learning opportunities, aspirational activities and confidence building. Students are encouraged to move between different aspects of the programme to provide ongoing, in-depth support. Particular attention is given to the key points when young people may become disaffected with school (for example, primary to secondary school transfer, GCSE to A level).

The charity’s educational programme provides the following three core strands of activities:

1. Academic Support: The charity provides help with homework, coursework and exam revision and brings the national curriculum to life through an exciting in-house curriculum. Trained volunteers provide additional support and help maintain a high adult:student ratio. Academic Support raises levels of achievement, increases confidence and motivation, and helps young people re-engage with learning outside school hours. The programme offers pastoral support and the opportunity for young people to build positive long-term relationships with adults and to address any challenging behaviour they may demonstrate. The charity has further developed a formal primary school curriculum for its Academic Support students who come without homework to complete. It covers subjects not usually taught in primary school - in 2020-21, the core subjects were Engineering, Psychology, and History of Art - and is designed to support literacy and numeracy as well as to introduce primary school children to subjects they might study at university. Independent Learning Projects and the 'Future Readiness Award' have been created for secondary school students to provide students with extended research projects to complete once they have finished their homework.

2. FOCUS programme: The charity runs subject-based aspiration and awareness building workshops for young people aged 7 to 18. The Primary FOCUS programme includes hands-on workshops and inspiring visits to cultural institutions, which many of the charity’s students have never accessed before. Primary FOCUS provision includes a university visit and graduationstyle ceremony, introducing students to university life and making university a realistic and tangible aspiration through experiential learning. The Secondary FOCUS package is an integrated education programme which aims to increase students’ knowledge of Higher Education, career opportunities and other future pathways. The programme strengthens students’ aspirations, provides strategies to make effective educational choices and helps students to develop transferrable skills. In addition to the core FOCUS programme, other strands such as Careers in FOCUS, Business in FOCUS and Leadership in FOCUS provide more detailed career guidance, develop important workplace skills and a platform for selfreflection respectively. Finally, the Student Enrichment programme provides work experience,

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internships, and networking opportunities giving students access to opportunities and professional advice from a range of industries.

3. Mentoring: The charity has developed a mentoring programme comprised of three parts: University Student Mentoring, Corporate Mentoring and the ‘Buddy’ programme. The charity works closely with universities to provide trained student mentors for the University Student Mentoring scheme who act as positive role models of people who have made it to university. Mentors support their mentees to develop reading, writing and maths skills and develop their confidence and inter-personal skills by taking part in social activities. The Corporate Mentoring programme pairs young people in Year 13 with trained volunteer professionals who support the mentee with the university application process and support their transition to university and first year of study. Through the charity’s two-day Buddy Programme, pupils in Year 8 take part in subject-based activities led by trained undergraduate volunteers and are shown around a university campus by the students.

The charity also operates an Associate Network to provide support for its former students and to engage its former staff and volunteers. The Network aims to support Into University students beyond the age of 18 by offering support, advice and guidance through its IU Connect online platform and through face-to-face events. IU Connect supports students with their transition to university, offers guidance about study skills, job applications, and CV writing, and provides students with access to opportunities including e-mentoring, networking and attendance at events designed to support students to develop core skills. Former staff and volunteers are able to support students through IU Connect and are engaged in the charity's work through regular communication and events.

The charity operates a Boarding School Bursary Scheme in partnership with the Royal National Children’s SpringBoard Foundation which seeks to identify Into University students who might benefit from the support, enrichment and teaching provided by state and independent boarding schools. The project aims to support the entry process and to offer ongoing pastoral support to the students and families on the scheme.

Khadija Saye Arts at Into University continues the work of Into University with a focus on encouraging and supporting young people with an interest in the arts. The programme aims to address the lack of diversity in the UK arts sector providing opportunities for young people from disadvantaged communities across the UK to explore the Arts by incorporating Arts-based activities from a range of disciplines into Into University's existing programme. The programme is overseen by a full-time Arts Programme Manager.

Into University has also been an integral part of the Uni Connect Programme (formerly the National Collaborative Outreach Programme) in Leeds and Nottingham. This is a joint initiative across universities, colleges and third-sector organisations to provide a programme of activities and support for students in Year 9 and above at schools and colleges in areas where progression to Higher Education is lower than expected. Into University’s participation in this project concluded in 2020-21, as planned.

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The charity works closely with other institutions including primary and secondary schools local to the centres, and cultural institutions. The charity has major partnerships with the University of Nottingham, the University of Bristol, the University of Leeds, the University of Southampton, King’s College London, the University of Liverpool, the University of Manchester, and Birmingham City University, to operate centres in their respective cities. The charity also has major partnerships with the University of Edinburgh and the University of Glasgow to operate centres in Edinburgh and Glasgow; with Anglia Ruskin University to operate a centre in Clactonon-Sea; with the University of Bath to operate centres in Weston-super-Mare and Hammersmith; with the University of East Anglia to operate a centre in Norwich; and with the University of Warwick to operate a centre in Coventry. The charity partners with the University of Oxford and Christ Church, Oxford to operate its Oxford South-East centre, and with the University of Bath, the University of Bristol, and the University of Exeter to operate its Bristol South centre. The charity also has funding partnerships with Christ’s College, Cambridge; Corpus Christi College, Cambridge; London School of Economics; Pembroke College, Cambridge; Trinity College, Cambridge; and Wadham College, Oxford. In addition, the charity works in collaboration with a range of other university partners.

Strategic Report

Achievements and Performance

During the academic year 2020-21 the charity supported 40,043 children, young people, and student associates. This is a remarkable achievement, especially in light of the disruption caused by the COVID-19 pandemic. As outlined below, centre teams did a fantastic job of adapting in the face of changing restrictions to continue providing high-quality support to as many students as possible last academic year.

Of the students supported, 3,400 attended Academic Support, 21,397 took part in the Primary FOCUS programme, 11,362 took part in Secondary FOCUS programmes for years 7 to 11, 4,883 were supported in years 12 to 13, 1,955 participated in the Mentoring and Buddy programmes, 1,454 received Uni Connect provision, and 312 were supported through the Student Associate Network.

An analysis tracking the destinations of students who had left school at the end of the 2019-20 academic year and had taken part in the Into University programme indicated that 71% of Year 13 school leavers had secured a university place.[1] Student evaluations collated in 2019-20 indicated that 72% of those students who had participated in the Academic Support programme reported improved school grades, and 70% of students who had participated in the Primary FOCUS and Secondary FOCUS programmes reported that they were more likely to go to university as a result of their participation.

Detailed student numbers by centre are shown on the following page.

1 These figures are based on a sample of 4,972 students who were either finishing Year 13, or would have completed Year 13 had they stayed in school (a 51% sample of a cohort of 9,660 students). The university progression figure for all Into University Year 13 leavers may be lower. Although staff tried to contact every single student, it was only possible to obtain data for 51% of school leavers. It may be that those for whom we do not have data are less likely to have applied for and have gained a university place. If we conservatively assume that we had no impact on these students, then our overall progression rate would still be 58%, 32 percentage points above the average for Free School Meals (FSM) students nationally, and 15 percentage points above the average for all maintained school students nationally.

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Centre by centre programme figures during the 2020-2021 academic year were as follows:

Academic Support Primary FOCUS FOCUS Year 7-11 Year 12-13 Mentoring and Buddy Uni Connect Student Associate Network Established Centres IntoUniversity Birmingham North 83 682 581 116 61 IntoUniversity Bow 121 677 440 204 83 IntoUniversity Brent 115 632 401 290 91 IntoUniversity Brighton 91 466 299 204 32 IntoUniversity Bristol East 127 626 222 105 39 IntoUniversity Bristol South 84 625 339 146 31 IntoUniversity Brixton 120 641 364 150 61 IntoUniversity Clacton 105 693 300 101 22 IntoUniversity Coventry 95 647 382 193 51 IntoUniversity East Ham 126 828 442 562 112 IntoUniversity Hackney Downs 105 637 364 121 14 IntoUniversity Hackney South 120 613 477 271 82 IntoUniversity Hammersmith 124 598 349 250 90 IntoUniversity Haringey North 125 634 459 248 68 IntoUniversity Kennington 140 764 381 200 84 IntoUniversity Leeds East 160 600 359 53 83 IntoUniversity Leeds Extension 106 599 215 - 49 IntoUniversity Leeds South 149 519 286 151 49 IntoUniversity Manchester North 123 577 338 193 35 IntoUniversity North Islington 119 646 480 149 39 IntoUniversity North Kensington 161 623 501 162 127 IntoUniversity North Liverpool 104 750 253 40 19 IntoUniversity Nottingham Central 115 760 361 143 83 IntoUniversity Nottingham East 122 708 514 149 70 IntoUniversity Nottingham West 133 897 429 123 107 IntoUniversity Oxford South East 121 738 495 182 114 IntoUniversity Southampton 106 849 463 116 142 IntoUniversity Walworth 128 626 435 181 59 IntoUniversity Weston-super-Mare 78 710 273 74 47 Emerging Centres IntoUniversity Birmingham North 83 682 581 116 61 Launch Centres *IntoUniversity Craigmillar 16 589 83 - - IntoUniversity Govan 19 753 77 - - IntoUniversity Norwich 31 693 101 25 - Cross centre events - - 26 59 11 Uni Connect DANCOP 1,206 Leeds Uni Connect 248 Student Associate Network 312 Total ^ 3,400 21,397 11,362 4,883 1,955 1,454 312

Total Unique Students ^ 1,362 1,384 1,332 983 961 1,103 1,188 1,123 1,249 1,830 1,143 1,413 1,256 1,354 1,391 1,069 918 1,017 1,109 1,235 1,393 1,074 1,313 1,386 1,497 1,397 1,485 1,256 1,049 1,362 604 770 819 94 1,206 248 312

40,043

• ‘Launch’ refers to a centre’s first full year of operation, ‘Emerging’ refers to a centre’s second full year of operation, and ‘Established’ refers to all future years of operation.

^ As many students attended more than one strand of Into University’s activities, and some students attended more than one Into University centre during the year, the totals for unique students in the table above do not equal the aggregation of individual strands or the aggregation of unique students in individual centres.

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Programme delivery in 2020-21

The charity reopened its centres for the beginning of the 2020-21 academic year, having supported students remotely since March 2020 due to the COVID-19 pandemic and resulting government restrictions.

Between September and December 2020, the charity supported over 11,000 young people to re-engage and get back on track with their learning. The programmes were adapted during this period to ensure that centres were COVID secure. The precise arrangements varied across different centres according to regional restrictions and logistics for individual sites. As a result of a third national lockdown, in January 2021, centre teams returned to supporting young people remotely and the remote support offer was expanded. In light of updated government guidance, centres resumed face-to-face delivery in the summer term with COVID-safe practices in place and the continuation of some remote learning.

The charity responded flexibly to the changing restrictions required because of the pandemic and centred its provision on the needs of the young people, their families, and our partner schools. The charity’s long-term Learning Recovery strategy focuses on supporting young people in three key outcome areas: well-being; academic attainment; social skills. A key focus during the year was preparing students to flourish in a post-COVID world, placing individual student needs at the heart of the charity’s response. The charity prioritised bringing evidencebased practices such as metacognition, oracy and reading comprehension to the forefront of delivery. Centre teams found that the negative impacts of the pandemic on our young people were varied and highly individual; our place-based model ensured our response was both localised and adaptable. Staff teams assessed and then responded to the wellbeing, social skills and academic needs of each young person in Academic Support. For example, wellbeing packs were provided to students transitioning to Secondary school, all Holiday FOCUS provision incorporated wellbeing activities and new workshops, including a ‘Finding Motivation’ workshop were created.

Academic Support

The approach for Academic Support ensured that all students, regardless of their access to digital devices and the internet, were able to receive support. For in-person delivery in autumn and summer term, regulations limited capacity to 15 students, with a further reduction to 12 students during the second lockdown in November. Students attended fortnightly in-person sessions, supplemented by weekly home-learning activities. Centres triaged students to prioritise those most in need, considering safeguarding vulnerability, access to devices, and examination year groups. Students in high need were prioritised to attend face-to-face sessions weekly. During autumn Academic Support live streaming was piloted to future-proof for further potential lockdowns.

In spring term centres delivered Academic Support remotely. Over 2,700 calls were made to families and detailed digital access surveys were conducted. There was a wide variation in access to suitable technology, creating an additional learning barrier that would widen the gaps experienced by those who already face the most challenges. The charity responded by raising funds to gift 500 devices to families. Staff delivered the spring term’s Primary Academic Support curriculum, Psychology, to students during live group sessions online. For secondary students, staff provided live group Academic Support sessions, offering a mixture of group activities, study skills sessions and independent working. Tuition phone calls continued for students with limited device or internet access and supplementary printed resources were sent to students. When in-person Academic Support resumed in summer term with a limited capacity of 15 students, virtual sessions continued to provide additional support to students.

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Mentoring

The Mentoring programme took place online throughout the year, with some face-to-face mentoring meetings happening in the summer term. The charity pivoted to online mentoring in April 2020 and continued this with success. This allowed students to continue receiving crucial one-to-one academic and pastoral support from a mentor. From April 2021 the charity transitioned to a hybrid model for Mentoring meetings and pairs now have the option to meet in person, to continue meeting virtually, or to do a combination of both.

Centres facilitated and nurtured mentoring relationships by providing feedback and guidance to volunteers via virtual de-briefs and google forms. Bespoke, virtual training taught mentors how to set productive SMART targets with their mentee online and staff created an online directory of resources for mentors and mentees, to ensure meetings were high quality and met clear goals. Online group events allowed mentoring pairs to make connections in their cities and clusters, at a time when social interactions at school and university were limited.

FOCUS

The charity’s localised approach enabled centres to respond to the changing needs of their partner schools throughout the year. Centres provided sessions in different formats including: in-person delivery, live virtual sessions for students at home or in the classroom, recorded content with follow-up resources, or a blended approach. In-person workshops were adapted to be ‘COVID safe’ – for example, carousel activities where students would usually move around the room were instead led from the front. With restrictions on off-site trips, centres sought inspiring virtual opportunities to bring Higher Education to life. Partner universities provided immersive virtual campus tours and sessions with university students to answer questions and share insights about student life.

During the spring term lockdown, Primary FOCUS workshops were adapted so that they could be run virtually. All adapted sessions featured learning objectives in line with National Curriculum learning goals. Every student was encouraged to participate through the use of online learning and teaching tools. Primary FOCUS Graduation ceremonies were adapted to bring a sense of occasion to a virtual format. Students presented their future ambitions to their peers, complete with home-made mortar boards.

The charity adapted both the format and content of Secondary FOCUS to meet the needs of students and schools. For example, at a time when schools were focused on supporting students with their academic progress, centres offered additional webinars on university life and learning. Lower secondary students attended a new ‘Is University for Me?’ webinar, during which staff shared their experiences of Higher Education. This supported students to look at their long- term ambitions at a time when the future was uncertain. Some older secondary students reported reduced access to form tutors and specialised career support during school closures. In response, centres provided practical tips for sixth form and college applications during a tailored ‘Spotlight Session’. Sixth form students also accessed supplementary webinars which explored how to connect to prospective universities and how to choose which university was right for them, during a time when campus visits were limited.

Additional Programmes

The charity utilised its extensive network of corporate partners to provide high-quality, virtual enrichment opportunities to students. Pivoting enrichment events online removed geographical barriers and allowed students from across the network to meet professionals from a variety of sectors. A number of student enrichment programmes took place virtually in summer 2021, such as the charity’s Big City Bright Future three-week paid internship programme. 196 students undertook virtual work placements at 24 different firms as part of this programme. The Academy of Enterprise programme, which gives young people hands-on experience of being an entrepreneur, also took place virtually at the end of July.

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Financial Review

Total expenditure for the year amounted to £8,095,033 (year to August 2020: £7,196,130). Total income amounted to £8,850,088 (year to August 2020: £7,556,625). At 31 August 2021 the charity had net assets of £5,001,335 (2020: £4,078,302). These comprised a £882,376 designated fund, free reserves of £2,979,616, restricted operating funds of £250,825, and an expendable endowment of £134,849.

Into University is very grateful to all the donors who supported the charity throughout the period, full details of whom are listed in note 3.

Reserves Policy

It is the policy of the Trustees to hold free reserves equal to approximately four months’ forecast running costs (currently equal to £3.07m). At the end of the year, free reserves stood at £2,979,616.

In addition to its free reserves, the charity holds a designated fund of £882,376, a permanent endowment of £753,669, and an expendable endowment of £134,849.

The designated fund provides the charity with extra financial security for its growth plan. The charity’s current growth plan has ambitious targets to reach more social mobility coldspots and educationally underserved regions of the UK by 2024. In view of the significant annual funding requirements to achieve this plan, the designated fund enables the charity to grow while maintaining a financially strong position. The expectation is for the designated fund to be utilised over the course of this growth plan, although the timing of utilisation will be assessed on a continuing basis by the Trustees as the charity reviews its future growth strategy.

The expendable endowment of £134,849 has arisen from legacies and donations made specifically for that purpose.

During the year, the charity established a permanent endowment called The IntoUni Endowment Fund, in partnership with a third-party foundation, in order to provide long-term financial security for the charity. The income from the permanent endowment will be used to further the charity’s charitable objects, including (without limitation) through supporting the charity’s core costs.

In February 2021, the Trustees agreed to transfer £250,000 from the designated fund to the permanent endowment. This transfer was matched by a grant of £250,000 from the third-party foundation. In August 2021, the Trustees agreed a further transfer of £250,000 from the expendable endowment to the permanent endowment. This transfer will be matched by a further grant of £250,000 after year-end by the third-party foundation. At 31[st] August 2021, the balance of the permanent endowment was £753,669.

The Trustees also decided to transfer an additional £125,000 during the year from free reserves to the designated fund to provide the charity with extra financial security for its growth plan.

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I NTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021

Investment Policy

As at 31 August 2021, £1,548,570 was held in equity and fixed income investments and £2,237,355 was held in long-term deposits. Investments are made in accordance with the broad investment powers accorded to the Trustees in the charity’s Memorandum of Association. At present, the charity’s investments are made through seven common investment funds, one passive tracker fund, and through a long-term deposit account. Common investment funds are collective investment vehicles similar to unit trusts but open only to charitable bodies.

The charity’s principal investment objective is to increase the value of invested assets over the long-term, protecting them against the effects of inflation and producing a return for the charity. A secondary objective is to produce income for the charity which can be applied to its ongoing operating costs.

During the year, net gains on the charity’s investments amounted to £167,978. This increase reflected trends in the wider market, and was a welcome recovery following unrealised losses of £132,033 in the previous financial year.

Fundraising Approach

The charity's fundraising activity is broken down into four main areas: applications to grantmaking trusts; applications to corporates; partnerships with educational institutions; and requests for support from individuals. Approaches to individuals are normally made in person or through fundraising events, in line with the Fundraising Code of Practice set by the Fundraising Regulator.

The charity would like to assure its supporters of the following:

• The charity will never sell supporters’ contact details to anyone

• If a supporter asks the charity to change how it communicates with the supporter, or to stop communications, the charity will respect that

• The charity does not engage in cold-calling, door-to-door or street fundraising

• The charity endeavours to ensure that no one ever feels pressurised to support its work

• The charity is registered with the Fundraising Regulator and adheres to the Fundraising Code of Practice

• All of the charity’s activities are open, fair, honest and legal

The charity has a training programme for its fundraising staff to reinforce its fundraising ethics.

The charity has a Donations Acceptance Policy which sets the charity’s policy for the acceptance of donations and sets out the procedures for the charity’s screening of donations, including, where necessary, referral to the charity’s Due Diligence Advisory Panel.

In 2020-21 the charity did not work with any third-party partners in delivering fundraising activities with trusts and foundations or individual donors. No complaints about the charity's fundraising activities were received during the year.

Into University also has an obligation to protect vulnerable people and those in vulnerable circumstances. Whenever we suspect that a potential or actual supporter is lacking capacity or is in vulnerable circumstances we will take courteous and respectful steps immediately to discontinue fundraising conversations and other fundraising communications. In these circumstances we will not accept donations.

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I NTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021

Fundraising Performance

Almost all of the charity’s income comes from fundraising and the charity continued to fundraise successfully over the course of the year, raising £8.7m from voluntary income and event income. The majority of these funds came from corporate donors (13%), charitable trusts and foundations (37%), and educational institutions (34%). There was also an important contribution from individual donors and from funds raised at events (16%).

Non-Financial Support

Throughout the year the charity has received professional advice, services and time from various individuals and organisations. In particular, support has been received via Impetus’s programme which provides professional people who volunteer their specific expertise.

The charity has also received significant volunteer support from corporate partners and the charity’s stakeholder university partners. The value of this cannot be quantified reliably and so has not been included in the financial statements. However, the Trustees would like to thank everyone who has volunteered their time, professional knowledge or any other service for their generous contributions, which are hugely beneficial to the operations of the charity.

The charity is also extremely grateful for pro bono contract law support received from Dechert LLP, for property law support received from Allen & Overy, and for pro bono employment law advice received from Covington & Burling LLP (and in particular, Antonio Michaelides) over a number of years.

Plans for Future Periods

The charity has continued to expand as set out in its 2019-24 business plan (see below), launching the following new centres in England and Scotland in Autumn 2021:

• A centre in Bradford, in partnership with Queen’s College, Cambridge.

• A second centre in Glasgow, in Mary Hill, in partnership with the University of Edinburgh and the University of Glasgow.

• A centre in Newcastle, in partnership with the University of Newcastle and the University of Northumbria.

The charity is in advanced discussions on future expansion with a number of university partners with a view to opening four new centres in Autumn 2022. However, the charity recognises that COVID-19 restrictions may delay the process.

The charity has a business plan which aims to respond strategically to Britain’s social mobility cold spots, growing to 41 learning centres across England, Scotland and Wales by 2024, using the power of education to lift young people out of poverty, and open up new worlds of possibility. The plan is informed by a strategic mapping of patterns of need for its services, looking both at regional needs and local areas where young people are under-served. In each new area we are seeking university partners who will bring both funding and engagement opportunities for young people. The plan will add additional capacity for over 11,000 students each year.

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I NTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021

Principal Risks and Uncertainities

The Trustees regularly review the many risks to which the charity is exposed and the means by which these risks are managed and controlled. These range from political and reputational to legal and financial risks. The aim of the review is to ensure that Trustees are satisfied that all major risks have been identified and that appropriate internal controls are in place to manage the charity’s exposure. There is a sub-committee of the Trustee Board, the Audit and Risk Committee, which monitors risk management.

The principal risks and uncertainties identified by the charity are as follows:

Risk identified	**Actions to mitigate risk **
Change in government or political aims	Be aware of potential changes in government policies, including government support for the financial position of universities and government initiatives to address the impact of COVID-19 lockdowns on education gap, and to consider the implications for charity Monitor discussions around the level of university fees and work closely with university partners to assess implications for partnerships Maintain strong relationships with policymakers, key people in the widening participating field, and the Office for Students
Data security / cyber-security risk	Ongoing review of data protection policies and procedures to ensure compliance with data protection legislation Engage data protection consultant to support with data protection compliance with current and future regulations External review of cyber-security risks Regular reporting to Trustee Board highlighting areas of risk and ongoing workstreams Additional staff training around data protection and cyber-security
Diversity lacking amongst staff & volunteers, and in the charity’s resources	Permanent Diversity and Inclusion team. Continued operation of Diversity and Inclusion Forum, consisting of permanent Diversity and Inclusion Team and staff members from across the charity. Standing item at board meetings Formation of Diversity and Inclusion sub-committee of the board in September 2021 Development of formal Diversity and Inclusion strategy to take place with support of external consultants. Employee Engagement Survey issued to staff and results willto inform ongoing strategy. Regular management review of employment policies and practices to ensure these continue to operate as fairly and consistently as possible across the staff team Recruitment practices incorporate strategies to address under-representation Workstream review of student resources to ensure inclusivity Charity has achieved first stage of Disability Committed status Standing item at board meetings, and formation of Diversity and Inclusion sub- committee ofthe boardinSeptember 2021
Funding risk	General reserves policy of four months’ expenditure to provide additional protection against a funding shortfall Designated funds provide extra security during growth phase New centres/projects launched only when funding has been secured for incremental cost of the centres/projects Identifymulti-year funding partnersforexisting provision

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Risk identified	**Actions to mitigate risk **
Impact of Brexit	Monitor the impact of Brexit on the finances of universities and other funders. Fundraising strategy to include ongoing review of the potential impact of Brexit In the event that fundraising is materially impaired, identify alternative funding sources, or reconsiderbusiness plan
Impact of COVID-19 on funding and cost base	Emphasis on the importance of the charity to support those most affected by the current crisis Budget maximises cost efficiencies Close relationships with existing and potential university partners to promote relevance and impact ofIntoUniversity model Minimise funding risk by focusing on expansion only when incremental costs arefunded
Local or national COVID-19 lockdowns	Monitor government guidance closely and anticipate potential closures Telephone and online support provided for students as alternative to in-person delivery Establishment of formal working from home policy to ensure that staff are equipped to work from home (where possible). Pro-active discussions of implications for targets with funders and university partners Analyse impact of lockdown on students affected and tailor programmes to maximise effectiveness ofsupport
Loss/absence of key staff due to sickness, departure or other leave	Management responsibility shared between senior team Succession planning for senior staff Recruit sufficient staff to cover absences and in anticipation of staff turnover, within budgetary constraints Monitor staff absences due to COVID-19 to ensure that staff are supported and to identify and anticipate operational issues Consider flexible working arrangements to retain skilled staff and to react to changing conditions
Organisational overstretch	Growth plan may be amended when deemed necessary or alternative opportunities arise Monitor need for existing centres to ensure charity provision is appropriately targeted Regularly review staffing structure and make changes as required Operate a Regional Operations Manager model to alleviate problems arising from a more complex organisational structure Ensure charity has access to advice and support (either internal or external) on meeting thelogisticalchallenges ofalargerentity
Safeguarding risk	Robust safeguarding procedures, internal training, and trustee governance and reporting Designated trustee with responsibility for safeguarding Safeguarding team, including dedicated Safeguarding Manager Safer recruitment practices including criminal record checks on staff and volunteers
Termination of centre leases	Maintain good relationships with landlords Ensure that appropriate notice clauses are included in leases Access to externalprofessionaladvicewhererequired

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INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021

Responsibilities of the Trustees

The Trustees (who are also directors of Into University for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Agreed Accounting Practice (United Kingdom standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the results of the charity for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

• there is no relevant audit information of which the charity’s auditor is unaware; and

• the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions.

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INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021

The Report of the Trustees, which incorporates the Strategic Report, was approved by the Trustees on 8 December 2021 and signed on their behalf by:

……………………………………..…… (Chairman) Oliver Haarmann

……………………………………….…. (Treasurer) Steve Windsor

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Independent auditor’s report to the members and trustees of IntoUniversity

Opinion

We have audited the financial statements of Into University for the year ended 31 August 2021 which comprise comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 August 2021 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the Report of the Trustees have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charity Accounts (Scotland) Regulations (as amended) require us to report to you if, in our opinion:

• adequate accounting records have not been kept by the charitable company; or

• the charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 22, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to employment law, safeguarding regulations and Charity and Company law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011 and Charities SORP.

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We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to recognition of income. Audit procedures performed by the engagement team included:

• Inspecting minutes of Trustees’ meetings;

• Inspecting correspondence with regulators and tax authorities;

• Discussions with management including consideration of known or suspected instances of noncompliance with laws and regulation and fraud;

• Evaluating management’s controls designed to prevent and detect irregularities;

• Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and

• Challenging assumptions and judgements made by management in their critical accounting estimates.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Askew (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditor London EC4R 1AG

Date: 9 December 2021

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STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2021

Notes Income from: Donations and legacies 3 Other trading activities 4 Investments 5 Donated services 3 Total income Expenditure on: Raising funds 6 Charitable activities 6 Donated services 6 Total expenditure Net income before losses on investments 7 Net gains on investments Net income Transfers between funds Funds brought forward Total funds carried forward	Designated funds Expendable Endowment General fund Restricted funds 2021 Total (excluding Permanent Endowment) £ £ £ £ £ - - 1,153,357 7,250,540 8,403,897 - - 13,811 102,793 116,604 - - 35,417 - 35,417 - - 44,170 - 44,170 - - 1,246,7557,353,333 8,600,088 - - 661,472 - 661,472 - - 209,240 7,180,151 7,389,391 - - 44,170 - 44,170 - -914,882 7,180,1518,095,033 - - 331,873 173,182 505,055 75,689 79,761 8,859 - 164,309 75,68979,761340,732 173,182669,364 (125,000) (250,000) (125,000) - (500,000) 931,687305,0882,763,884 77,6434,078,302 882,376 134,849 2,979,616 250,825 4,247,666	Permanent Endowment £ 250,000 - - - 250,000 - - - - 250,000 3,669 253,669 500,000 - 753,669	2021 Total £ 8,653,897 116,604 35,417 44,170 8,850,088 661,472 7,389,391 44,170 8,095,033 755,055 167,978 923,033 - 4,078,302 5,001,335	2020 Total £ 7,120,985 306,254 55,063 74,323
				7,556,625
				694,083 6,427,724 74,323
				7,196,130
				360,495
				(132,033)
				228,462
				-
				3,849,840
				4,078,302

The notes on pages 30 – 44 form part of these financial statements.

The Statement of Financial Activities includes all gains and losses recognised in the year. All amounts derive from continuing activities.

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BALANCE SHEET AS AT 31 AUGUST 2021

Notes Fixed Assets: Investments at fair value 10 Long-term deposits Current assets: Debtors and prepayments 11 Cash at bank & in hand Creditors: Amounts falling due within one year 12 Net current assets Net assets 13 The funds of the charity: Unrestricted funds: General funds 14 Designated funds 14 Restricted funds: Operating funds 14 Permanent endowment 14 Expendable endowment 14	2021 £ 1,548,570 2,237,355 3,785,925 107,070 4,895,484 5,002,554 3,787,144 1,215,410 5,001,335 2,979,616 882,376 250,825 753,669 134,849 5,001,335	2020 £ 880,592 1,732,709 2,613,301 255,398 3,690,000 3,945,398 2,480,397 1,465,001 4,078,302 2,763,884 931,687 77,643 - 305,088 4,078,302

Approved by the Trustees and authorised for issue on 8 December 2021 and signed on their behalf by:

………………………………………………….. Oliver Haarmann

(Chairman)

…………………………………………………..

(Treasurer)

Steve Windsor

Company Number: 6019150

The notes on pages 30 – 44 form part of these financial statements.

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STATEMENT OF CASH FLOWS AS AT 31 AUGUST 2021

Note Net cash provided by (used in) operating activities A Cash flows from investing activities Interest income Purchase of long-term deposits Purchase of investments Cash provided by (used in) investing activities Increase in cash and cash equivalents in the year Cash and cash equivalents (net funds) at the beginning of the year Total cash and cash equivalents (net funds) at the end of the year	2021 2020 £ £ 2,174,713 1,698,071 30,771 39,566 (500,000) - (500,000) (150,000) (969,229) (110,434) 1,205,484 1,587,637 3,690,000 2,102,363 4,895,484 3,690,000

A: RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period Adjustments for: Investment income (Gains)/losses on investments Dividends, interest and rents from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities	2021 2020 £ £ 923,033 228,462 (4,915) (17,774) (167,978) 132,033 (30,502) (37,289) 148,328 169,414 1,306,747 1,223,225 2,174,713 1,698,071

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1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second edition, effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Into University meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

(b) Preparation of accounts on a going concern basis

The Trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern. The review of its financial position, reserves levels and future plans gives Trustees confidence that the charity remains a going concern for the foreseeable future.

(c) Fund accounting

• Unrestricted funds are available for use at the discretion of the Trustees and in furtherance of the general objectives of the charity.

• Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

• Permanent endowment funds are held by the charity on the terms of a Trust Deed where the capital is retained to generate income to further the charity’s objects.

• Expendable endowment funds are invested by the charity to generate income, and the Trustees have the power to convert the investments into income.

(d) Income

All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably. The following specific policies are applied to particular categories of income:

• Donations and legacies are received by way of grants, donations, legacies and gifts and are included in full in the Statement of Financial Activities when the charity is entitled to the income, the amount is measurable, and the receipt is virtually certain. Grants, where entitlement is not conditional on the delivery of specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

• Donated services and facilities which the charity would otherwise have purchased are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

• Investment income is included when receivable.

• Income from charitable trading activity is accounted for when earned.

• Income from grants, where related to performance and specific deliverables, is accounted for as the charity earns the right to consideration by its performance.

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1. Accounting Policies (continued)

• (e) Expenditure

• Expenditure is recognised on an accrual basis as a liability is incurred.

• Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.

• Costs of generating funds comprise the costs associated with attracting voluntary income.

• Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

• Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

• All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis as set out in note 6.

(f) Taxation

The charity is an exempt charity within the meaning of section 466 to section 493 of the Corporation Taxes Act 2010.

The charity is not registered for VAT.

(g) Financial Instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(h)

Investments

• Investments are stated at market value at the balance sheet date.

• The Statement of Financial Activities includes any net realised and unrealised gains or losses arising on revaluations and disposals throughout the year.

• Asset sales or purchases are recognised at the date of trade.

(i) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(j) Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.

31

1. Accounting Policies (continued)

(k) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due

(l) Employee benefits

• Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

• Employee termination benefits are accounted for on an accrual basis and in line with FRS 102.

• The charity operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of the charity in an independently administered fund. The pension costs charged in the financial statements represent the contributions payable during the year.

(m) Legal status

IntoUni is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

(n) Operating leases

Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged to the Statement of Financial Activities on a straight line basis over the lease term.

2. Judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The only area where estimation uncertainty applies is the valuation of gifts in kind.

32

3. Donations and legacies

Grants and donations 29th May 1961 Charitable Trust Accelerate and Access Foundation Accenture Alex and William de Winton Trust Allen & Overy Anonymous grants Aurum Charitable Trust Bank of America Bernard Lewis Family Charitable Trust Big City, Bright Future donations BlackRock Brick Court Chambers Cairn Energy PLC Castansa Trust The Childhood Trust BBC Children in Need CHK Foundation The Corcoran Foundation Cushman & Wakefield CVC Capital Partners The David & Elaine Potter Foundation Deloitte Drapers' Company Dr. Mortimer and Theresa Sackler Foundation The Dulverton Trust Eranda Rothschild Foundation Ernst & Young Esmée Fairbairn Foundation Essex Community Foundation first direct Fonthill Foundation Garfield Weston Foundation The Helvellyn Foundation Impetus Inflexion Foundation The John Armitage Charitable Trust John Lyon's Charity The Jongen Charitable Trust Kristian Gerhard Jebsen Foundation The Lancaster-Taylor Charitable Trust The Lindsell Foundation Lund Trust Mercers' Company Miss Joan Sinclair Charitable Trust Neuberger Berman Foundation Newby Trust Nomura Charitable Trust Optimus Foundation The Peter Cundill Foundation Pfeffer Family Foundation Porticus Prudence Trust Rory and Elizabeth Brooks Foundation Royal National Children's Springboard Foundation St. James's Place Charitable Foundation Schroder Foundation Schroders Sofronie Foundation Stitchting West Coast Foundation The Stone Family Foundation The Swire Charitable Trust Tuixen Foundation The UBS Optimus Foundation UK Walcot Foundation Westminster Foundation The Wheeler Family Charitable Trust The Worshipful Company of Cutlers Sub-total carried forward to next page

Unrestricted Restricted Permanent Endowment 2021 Unrestricted Restricted 2020 £ £ £ £ £ £ £ 60,000 - - 60,000 - - - - 30,000 - 30,000 - - - - 33,333 - 33,333 - - - - 60,000 - 60,000 - 60,000 60,000 - 20,175 - 20,175 25,500 - 25,500 - 1,033,477 250,000 1,283,477 - 608,287 608,287 - 100,000 - 100,000 - 100,000 100,000 - 111,450 - 111,450 - 49,452 49,452 30,000 - - 30,000 - - - - 132,650 - 132,650 - 16,067 16,067 - 39,044 - 39,044 - 38,728 38,728 - 41,224 - 41,224 - - - - 50,000 - 50,000 - - - - 24,000 - 24,000 - - - - 25,000 - 25,000 - 25,000 25,000 - 30,000 - 30,000 - 20,000 20,000 - 25,000 - 25,000 - - - - 25,000 - 25,000 - 25,000 25,000 10,289 - - 10,289 - - - - 100,000 - 100,000 - - - - 100,000 - 100,000 - - - - 14,811 - 14,811 - 21,963 21,963 - 35,000 - 35,000 - 35,000 35,000 - - - - - 50,000 50,000 - 30,000 - 30,000 - 30,000 30,000 - 17,500 - 17,500 - - - - 19,400 - 19,400 - - - 100,000 - - 100,000 50,000 - 50,000 - - - - - 11,830 11,830 - 11,660 - 11,660 - - - - 18,000 - 18,000 - 20,000 20,000 - 70,000 - 70,000 - 100,000 100,000 10,000 - - 10,000 - - - - - - - - 400,000 400,000 83,333 - - 83,333 - - - 30,000 - - 30,000 30,000 - 30,000 - 35,000 - 35,000 - 35,000 35,000 31,250 - - 31,250 - - - - 500,000 - 500,000 - 500,000 500,000 - 20,000 - 20,000 - - - - 26,667 - 26,667 - - - 100,000 - - 100,000 25,000 - 25,000 - 116,700 - 116,700 - - - 15,000 - - 15,000 15,000 - 15,000 27,078 - - 27,078 17,075 - 17,075 - 10,000 - 10,000 - - - - 50,000 - 50,000 - 52,000 52,000 - 15,000 - 15,000 - - - 154,457 - - 154,457 51,635 - 51,635 - 16,800 - 16,800 - 12,000 12,000 - 72,986 - 72,986 - 70,000 70,000 - 50,000 - 50,000 - - - 40,000 - - 40,000 40,000 - 40,000 - 27,500 - 27,500 - 29,034 29,034 - 35,000 - 35,000 - 50,000 50,000 - - - - 40,000 - 40,000 - 75,903 - 75,903 - 85,000 85,000 - 50,000 - 50,000 - 50,000 50,000 - 100,000 - 100,000 - - - 100,000 - - 100,000 - 96,507 96,507 - 20,000 - 20,000 10,000 - 10,000 50,000 - - 50,000 50,000 - 50,000 - 192,000 - 192,000 - 116,902 116,902 - 25,000 - 25,000 - 25,000 25,000 - 29,760 - 29,760 - - - - 100,000 - 100,000 - 100,000 100,000 - 15,000 - 15,000 - 15,000 15,000 841,407 3,780,040 250,000 4,871,447 354,210 2,847,770 3,201,980

33

3. Donations and legacies (continued)

Sub-total brought forward Grants and donations (continued) Corporate donations of £10,000 or less Trust donations of £10,000 or less Individual donors Gift Aid Statutory, university and school funding Anglia Ruskin University Bath, University of Birmingham City University Bristol, University of Christ's College, Cambridge Christ Church, Oxford Corpus Christi College, Cambridge Edinburgh, University of Exeter, University of Glasgow, University of Higher Education Funding Council for England King's College London Leeds, University of London School of Economics Liverpool, University of, and the LFC Foundation Manchester, University of Nottingham, University of Oxford, University of Pembroke College, Cambridge Southampton, University of Sussex, University of Trinity College, Cambridge University of East Anglia Wadham College, Oxford Warwick, University of University donations less than £10k Independent Schools	Unrestricted Restricted Permanent Endowment 2021 £ £ £ £ 841,407 3,780,040 250,000 4,871,447 33,341 32,154 - 65,495 3,000 29,252 - 32,252 231,315 402,966 - 634,281 44,294 - - 44,294 - 120,000 - 120,000 - 321,668 - 321,668 - 125,000 - 125,000 - 161,668 - 161,668 - 11,000 - 11,000 - 60,000 - 60,000 - 12,500 - 12,500 - 20,488 - 20,488 - 41,668 - 41,668 - 16,763 - 16,763 - 267,545 - 267,545 - 125,000 - 125,000 - 382,944 - 382,944 - 30,000 - 30,000 - 120,000 - 120,000 - 121,022 - 121,022 - 375,000 - 375,000 - 60,000 - 60,000 - 15,000 - 15,000 - 125,000 - 125,000 - - - - - 15,000 - 15,000 - 140,000 - 140,000 - 25,000 - 25,000 - 125,000 - 125,000 - 1,362 - 1,362 - 187,500 - 187,500 1,153,357 7,250,540 250,000 8,653,897	Unrestricted Restricted 2020 £ £ £ 354,210 2,847,770 3,201,980
		12,779 18,223 31,002 6,000 33,667 39,667 783,599 202,835 986,434 161,277 - 161,277 - 120,000 120,000 - 238,334 238,334 - 125,000 125,000 - 158,334 158,334 - 11,000 11,000 - 65,000 65,000 - 12,500 12,500 - - - - 38,334 38,334 - - - - 372,616 372,616 - 125,000 125,000 - 349,507 349,507 - 30,000 30,000 - 120,000 120,000 - 120,000 120,000 - 375,000 375,000 - 60,000 60,000 - 15,000 15,000 - 115,000 115,000 - 100,000 100,000 - - - - - - - 25,000 25,000 - 125,000 125,000 - - - - - -
		1,317,865 5,803,120 7,120,985

In addition to the income disclosed in the table above, £44,170 legal and professional support was received through pro bono donations (year ended 31 August 2020: £74,323). Donated services are analysed as unrestricted income and expenditure within the financial statements.

4. Other trading activities

5. Investment Income Unrestricted Restricted 2021 £ £ £ Event income 13,811 102,793 116,604 13,811 102,793 116,604 Unrestricted Restricted 2021 £ £ £ Bank interest 4,915 - 4,915 Dividends 30,502 - 30,502 35,417 - 35,417	Unrestricted Restricted 2020 £ £ £ 23,420 282,834 306,254
	23,420 282,834 306,254
	Unrestricted Restricted 2020 £ £ £ 17,774 - 17,774 37,289 - 37,289
	55,063 - 55,063

5. Investment Income

34

6. Expenditure

Raising funds Costs of generating voluntary income Charitable activities IU Birmingham North IU Bow IU Brent IU Brighton IU Bristol East IU Bristol South IU Brixton IU Clacton IU Coventry IU East Ham IU Hackney Downs IU Hackney South IU Hammersmith IU Haringey North IU Kennington IU Leeds East IU Leeds South IU Leeds Extension Project IU Manchester North IU North Islington IU North Liverpool IU Nottingham East IU Nottingham West IU North Kensington IU Nottingham Central IU Oxford South East IU Southampton West IU Walworth IU Weston-super-Mare IU Leeds NCOP IU Nottingham NCOP IU Craigmillar IU Govan IU Norwich IU Bradford East IU Mary Hill IU Newcastle IU Boarding Schools Bursary Project Support costs Donated services Governance costs External audit Trustees’ indemnity insurance Other costs Total expenditure*	Staff costs Direct costs Total costs Reallocation of support / governance costs 2021 12 months ended 31 Aug £ £ £ £ £
	428,461 85,718 514,179 147,293 661,472
	143,843 52,965 196,808 10,822 207,630 145,297 65,143 210,440 10,822 221,262 169,545 61,768 231,313 10,822 242,135 161,852 72,095 233,947 10,822 244,769 163,699 72,317 236,016 10,822 246,838 172,052 53,574 225,626 10,822 236,448 156,864 60,287 217,151 10,822 227,973 151,627 65,573 217,200 10,822 228,022 139,224 53,640 192,864 10,822 203,686 159,537 60,820 220,357 10,822 231,179 150,825 56,581 207,406 10,822 218,228 154,055 62,789 216,844 10,822 227,666 168,296 99,224 267,520 10,822 278,342 162,508 88,567 251,075 10,822 261,897 160,345 56,548 216,893 10,822 227,715 140,507 49,207 189,714 10,822 200,536 135,418 58,814 194,232 10,822 205,054 119,657 44,415 164,072 10,822 174,894 125,482 69,384 194,866 10,822 205,688 164,528 72,561 237,089 10,822 247,911 159,452 69,524 228,976 10,822 239,798 166,922 75,730 242,652 10,822 253,474 145,058 52,108 197,166 10,822 207,988 - 190,000 190,000 - 190,000 155,485 62,959 218,444 10,822 229,266 151,326 51,700 203,026 10,822 213,848 147,976 69,781 217,757 10,822 228,579 161,697 61,345 223,042 10,822 233,864 147,773 57,705 205,478 10,822 216,300 92,845 28,031 120,876 10,822 131,698 98,882 21,822 120,704 10,822 131,526 101,897 52,042 153,939 7,215 161,154 96,177 55,353 151,530 7,215 158,745 93,100 55,244 148,344 7,215 155,559 25,233 850 26,083 - 26,083 8,088 1,889 9,977 - 9,977 11,046 13,655 24,701 - 24,701 34,697 4,261 38,958 - 38,958
	4,842,815 2,200,271 7,043,086 346,305 7,389,391
	301,648 133,505 435,153 (435,153) -
	- 44,170 44,170 - 44,170
	- 11,100 11,100 (11,100) - - 593 593 (593) - 44,817 1,936 46,753 (46,753) -
	44,817 13,628 58,445 (58,445) -
	5,617,741 2,477,292 8,095,033 - 8,095,033

Total expenditure

Total cost of Into University North Kensington provision within The ClementJames Centre was £310,602 (year to August 2020: £302,506), of which Into* University contributed £190,000.

35

Intouniversity providing local learning cenlres where young people are inspired to achieve Expendlture leontlnued) 5￿ff costs Dlrect costs T£éal iosts SUFVOrtI g￿er￿n 20 12 moni enthd 31 Awj RaiSifWJ C(6ts olgenerairy wlurt3ryincorf 131.440 149.833 6940U3 Charlbk aCt￿lI1e5 IU Bow IU Brert IU B￿￿10￿ IU Bnol &51 IU Bn&DI ￿￿th IU Bn)ttDn IUC13rton IU Ea& Ham IU Hth8y D￿S IU HthEy sO￿h IU HarrYner6mith IU H3M9ty North IU Keminoon IU Leets Ea3t IU Leets S)Dth IU Noth15In9tL IU Noth LifpwI IU &sl IU Nothngkom We IU Noth K￿nsi[￿on' IU NOttngk￿rn thntral Iuothd ￿Uth Ea IU sD￿hat￿O￿wé￿t Iuwaknrth 153.040 55J71 43.Y1 208A11 211444 ?1415Tr ?21285 221075 378 214081 214185 21&199 165,739 211252 212 197345 203P51 203,152 204,166 189J76 1941 204133 203102 230J95 1803J6 53226 38.665 43234 41280 45.636 37.8 37J02 49J99 42.446 68220 46J01 53524 50.934 58.941 39.T23 44.664 190.000 45.B54 158,680 159.82D 158.530 151.542 157592 155434 20&927 21&866 214835 241.42 191.269 IB55 221.485 21620 129 204438 19QOO 207.143 18fi347 201955 21763 21.204 133.935 139298 210A52 208581 191M% 193105 190WI 196,110 175314 192?22 212,7JO 210,171 149.646 150256 146 602 162 635 164.318 46320 50.Q95 45.853 IUCthe)tty IU Marthester Wrth IU Leets Exten&on Prts￿t 13T898 14621D 106.456 40.891 49257 38237 178.792 197A67 146fi93 1W825 11.033 IU Biimngfgm P4Jrth 51 J58 200513 211006 IULeets Lkni CC￿lle IU NotDngFom t¥lNCOP 121215 122A25 IU308 1J1458 IU Sc(land 30216 1235 32A51 31451 IU BD￿dIng Scknols But*ryProJ 40,817 1157 43974 41974 P￿sP￿l &ntlES 27.876 5.124 4.559.383 1.537J51 6J￿.13￿ 33Q.990 6.411.124 259 33B 017 424 55 424 35 Cknatd WVH¥S 74 23 323 10500 572 25 105 572 45?96 {1U.50 157 145.3 T￿St0£8' I￿￿￿ty1￿￿ura￿c@ Othei cD515 42.812 42 812 13.656 56.46 Tthl ex￿d￿trre 5274 343 7.1%.1JO 7.1%.130 36

6. Expenditure (continued)

Support costs were constituted as follows:

7. Net income for the year This is stated after charging: Staff costs Other employment costs Direct costs Operating lease payments - land and buildings Operating lease payments - office equipment Auditor's remuneration (including VAT) Expenses reimbursed to Trustees	2021 £ 301,648 7,357 126,148 435,153 2021 £ 646,299 17,231 11,100 - 674,630	2020 £ 259,338 2,938 162,079
		424,355
		2020 £ 572,969 16,128 10,500 140 599,737

No expenses were reimbursed to Trustees in the current year. Expenses of £140 were reimbursed to one Trustee in the prior year for travel. No Trustee received remuneration in the current or prior year.

37

8. Staff costs and numbers

The average number of employees during the year was as follows: Employees who earned more than £60,000 p.a. were as follows: 2021 £ Salaries and wages 4,939,025 Social security costs 451,559 Pension contributions 227,157 Redundancy and/or termination payments - 5,617,741 Projects and activities 161 IU Head Office 31 192 2021 No. £60,000-£69,999 - £80,000-£89,999 2 2	2020 £ 4,613,549 429,577 210,671 20,546 5,274,343 152 27
	179
	2020 No. 1 2
	3

Employer pension contributions made on behalf of these employees amounted to £8,707 (2020: £11,763).

The total employee benefits of the key management personnel of the charity were £322,807 (2020: £318,775).

9. Taxation

The charity is exempt from tax on income and gains falling within the meaning of section 466 to section 493 of the Corporation Taxes Act 2010 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

38

10. Investments

Market value at 1 September Additions at cost Net (loss)/gain on revaluation for the period Market value at period end Historical cost at period end Analysis of holdings: Shareholdings of more than 5% of the portfolio: Equity and Fixed Income Investments Units BlackRock Charinco Fixed Income 84,707 BlackRock FTSE 100 Tracker 73,011 Blackrock Grow th & Income Fund 168,067 Blackrock iShares Corporate Bond 56,148 Cazenove Equity Income Trust 291,977 CCLA COIF Fixed Interest Fund 106,090 Schroder Charity Equity Fund 83,577 SUTL Cazenove Equity Income 154,083	2021 £ 880,592 500,000 167,978 1,548,570 650,000 2021 £ 160,097 131,275 201,681 99,214 261,670 145,099 346,760 202,774 1,548,570	2020 £ 862,625 150,000 (132,033)
		880,592
		150,000
		2020 £ 164,332 107,035 - - 210,282 149,215 249,728 -
		880,592

11. Debtors

Prepayments Accrued income Other debtors	2021 £ 71,823 18,348 16,899 107,070	2020 £ 40,491 193,893 21,014 255,398

39

12. Creditors: Amounts falling due within one year

2021 £ Deferred income 3,213,326 Social security and other taxes 132,469 Trade creditors and accruals 441,349 3,787,144	2020 £ 2,042,730 106,769 330,898
	2,480,397

Deferred income relates to grants and donations paid in advance of the period in which they are to be spent. These will be released according to their entitlement status in subsequent years.

Analysis of deferred income: Balance brought forward Released to the SOFA during the year Amount deferred during the year Balance at 31stAugust	2021 £ 2,042,730 (2,042,730) 3,213,326 3,213,326	2020 £ 664,329 (664,329) 2,042,730
		2,042,730

13. Analysis of net assets between funds

Equity investments Fixed income investments Long-term deposits Current assets Current liabilities Net assets at 31 August Equity investments Fixed income investments Long-term deposits Current assets Current liabilities Net assets at 31 August	Designated funds Expendable endowment Permanent endowment Unrestricted funds Restricted funds 2021 Total £ £ £ £ £ £ 572,052 128,743 404,455 38,910 - 1,144,160 290,931 6,106 99,214 8,159 - 404,410 19,393 - - 2,217,962 - 2,237,355 - - 250,000 1,288,403 3,464,151 5,002,554 - - - (573,818) (3,213,326) (3,787,144)
	882,376 134,849 753,669 2,979,616 250,825 5,001,335
	Designated funds Expendable endowment Permanent endowment Unrestricted funds Restricted funds 2020 Total £ £ £ £ £ £ 271,801 265,418 - 29,826 - 567,045 265,493 39,670 - 8,384 - 313,547 394,393 - - 576,597 761,719 1,732,709 - - - 2,586,744 1,358,654 3,945,398 - - - (437,667) (2,042,730) (2,480,397)
	931,687 305,088 - 2,763,884 77,643 4,078,302

40

14. Movements in funds

Restricted Funds: IU Head Office IU Birmingham North IU Bow IU Brent IU Brighton IU Bristol East IU Bristol South IU Brixton IU Clacton IU Coventry IU East Ham IU Hackney Downs IU Hackney IU Hammersmith IU Haringey North IU Kennington IU Leeds East IU Leeds Extension Project IU Leeds South IU Manchester North IU North Islington IU North Liverpool IU Nottingham Central IU Nottingham East IU Nottingham West IU North Kensington IU Oxford South East IU Southampton West IU Walworth IU Weston-super-Mare IU Craigmillar IU Govan IU Norwich IU Bradford East IU Mary Hill IU Newcastle IU Leeds NCOP IU Nottingham NCOP IU Boarding Schools Bursary Project Total restricted funds Unrestricted funds: General funds Designated funds Expendable endowment Permanent endowment Total unrestricted funds Net incoming resources and unrealised gains	At 1 September 2020 Unrealised gains Income Expenditure Transfers At 31 August 2021 £ £ £ £ £ £ 63,601 - 693,269 (645,618) (50,000) 111,252 - - 207,170 (207,170) - - - - 213,415 (213,415) - - - - 238,121 (238,121) - - - - 176,002 (176,002) - - - - 203,219 (203,219) - - - - 180,792 (180,792) - - - - 182,832 (182,832) - - 1,730 - 180,505 (180,505) - 1,730 - - 185,624 (185,624) - - - - 195,313 (195,313) - - - - 211,804 (211,804) - - - - 195,129 (195,129) - - - - 276,555 (276,555) - - - - 235,806 (235,806) - - - - 227,046 (227,046) - - - - 184,813 (184,659) - 154 - - 154,446 (154,446) - - - - 168,884 (168,884) - - 12,312 - 226,858 (203,886) - 35,284 - - 216,066 (216,066) - - - - 207,970 (207,970) - - - - 184,968 (184,968) - - - - 190,106 (190,106) - - - - 171,015 (171,015) - - - - 154,654 (154,654) - - - - 171,310 (171,310) - - - - 206,626 (206,626) - - - - 195,708 (195,708) - - - - 212,435 (212,435) - - - - 198,191 (159,213) 16,667 38,978 - - 202,153 (156,740) 16,667 45,413 - - 155,429 (155,429) - - - - 26,083 (26,083) - - - - 27,986 (9,972) 16,666 18,014 - - 8,597 (8,597) - - - - 130,898 (130,898) - - - - 124,255 (124,255) - - - - 31,280 (31,280) - -
	77,643 - 7,353,333 (7,180,151) - 250,825
	2,763,884 8,859 1,246,755 (914,882) (125,000) 2,979,616 931,687 75,689 - - (125,000) 882,376 305,088 79,761 - - (250,000) 134,849 - 3,669 250,000 500,000 753,669
	4,000,659 167,978 1,496,755 (914,882) - 4,750,510
	4,078,302 167,978 8,850,088 (8,095,033) - 5,001,335

41

Intouniversity providing local learning cenlres where young people are inspired to achieve 14. Movement$ In funds leontlnued) Pl 1 Se￿ter 2019 Urn1￿ed Transr4rs At31 A￿￿5t2[￿l0 n5 Re51rithd Funds IU HEOfte IU BOW IU Brwt IU B￿￿￿Jn IU BnstLI East IU BnslcA Sothh IU IU East Ha IU HacktyDo4Yn5 IU Hatk IU Hammersmfft IU HanngwNO IU Kemngon IU Le￿$ East IU Sothh IU Norfh15IngDn IU certra IU Ntslliryrtsm E38t IU Nolliryrdm wt IU Nom Kensing IU Oxbrd Soun East IU SothfAmpnWesl IU Wawoth 642 764 {tW1.Z211 (￿9.018) I187.￿) 116&4401 1180.8251 1153.&521 1148.8241 11674031 {1635)41 {l66￿Tr 1167.4201 117&7SS1 187.622 168440 1805 153 552 148 824 1674(B 504 166.9 167.4 173.7 226.7ts) 171.503 1806(Q 162 15F 15B 453 156012 157.15J I171.￿3) {180.tI)21 {162.154 {1584531 {1560121 1￿8&) 178410 170 846 {170.&161 iu ciity) IU Norfh Liwi iu westcm-swthwe 1.414 213.963 169.33) 219.561 {213.6d4 {169.3JOI {219.511 1.7 IU C￿etty IU ma￿ IEslt¥ North IU ￿¥￿510￿ Priycl 1625X 220.B47 1￿.015 11625211 I￿&&85) {13&0151 11312 IU Birrniryharn Nt 9.978 {3)9.9781 iu uni C￿rttl 1U3 132461 {13l3toi {1314TJ IU No￿￿t￿m DANCOP IU Brwdng Sclxxts B￿ryP[qect iu Prc6￿1 Certr£s 342&) 29074 13 2&1 134.2891 129.0741 TOtsI rstrfetdfuNJS 114472 C44554 ,121,783 unr•stnCtrdTunlls= I￿railu￿S 2.367,e6ts 991769 1.470.671 11.074.S17) I￿08 I&3￿1} 931,687 7&0 Tokl ur￿￿1￿(ted fvr￿s 8.73&8 I182.￿3} 1AlQ6n 11.074J47) 4rm6 N•t inE¢xThng rOur¢•sar unrnis•d gairs 3.84840 1132.L¥38) 7.5*625 17.19&1301 40713172 42

14. Movements in funds (continued)

Where donors have requested that their donations should be used to fund specific centres or activities, such amounts have been allocated as restricted funds as shown above.

There are £102,405 restricted funds relating to the charity’s centres in Scotland, £35,284 relating to funds raised specifically for the Manchester North centre, £1,730 relating to funds raised specifically for the Clacton centre, and £154 relating to funds raised specifically for the Leeds East centre.

Restricted funds carried forward in Head Office are made up of £82,602 relating to the Big City, Bright Future programme, £16,800 funding for student work placements, £10,150 relating to the Patrick Derham Scholarship, and £1,700 for laptops for students.

The charity holds a designated fund of £882,376 to provide the charity with additional financial security during its growth plan. The charity has an expendable endowment of £134,849 arising from legacies and donations made specifically for that purpose.

During the year, the charity established a permanent endowment to generate an ongoing income stream for the charity. In February 2021, the Trustees agreed to transfer £250,000 from the designated fund to the permanent endowment. This transfer was matched by a grant of £250,000 from the thirdparty foundation. In August 2021, the Trustees agreed a further transfer of £250,000 from the expendable endowment to the permanent endowment. This transfer will be matched by a further grant of £250,000 after year-end by the third party foundation. At 31st August 2021, the balance of the permanent endowment was £753,669.

The Trustees also decided to transfer an additional £125,000 during the year to the designated fund to provide the charity with extra financial security for its growth plan.

15. Accommodation

The charity rents spaces for its head office and a number of its centres at rates not available on the open market. It is not possible to quantify the benefit.

16. Control

The charity has no individual who can exercise ultimate control.

17. Related party transactions

During the period the charity paid grants to The ClementJames Centre totalling £190,000 (year ended 31 August 2020: £190,000). £190,000 related to a grant for Into University North Kensington. Sophia Lewisohn was also a Trustee of The ClementJames Centre during the period; Clare Richards, who is a Trustee of the charity, is also the Chief Executive of The ClementJames Centre. No Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.

Total donations received from Trustees during the year were £139,347 (year ended 31 August 2020: £744,982).

At the year end, a balance of £358 was owed to The ClementJames Centre by the charity, and a balance of £726 was owed to the charity by The ClementJames Centre.

There were no other related party transactions during the year.

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18. Operating Lease Commitments

At the year end, the charity was committed to the following future annual minimum lease payments in respect of operating leases:

2021 2020 £ £ In less than one year 429,441 337,722 In two to five years 682,660 666,671 In more than five years - 6,438 1,112,101 1,010,831 Land and buildings	2021 2020 £ £ 13,201 11,725 21,850 679 - - Office Equipment
	35,051 12,404

19. Members

The ultimate control of the charity lies with the members who pledge to pay £1 in the event of the charity winding up. There were 12 members at 31 August 2021 (2020: 11).

20. Comparative Statement of Financial Activities (2020):

Income from: Donations and legacies Other trading activities Investments Donated services Total income Expenditure on: Raising funds Charitable activities Donated services Total expenditure Net income before losses on investments Net gains on investments Net income Transfers between funds Funds brought forward Total funds carried forward	Designated funds Expendable Endowment General fund Restricted funds 2020 Total £ £ £ £ £ - - 1,317,865 5,803,120 7,120,985 - - 23,420 282,834 306,254 - - 55,063 - 55,063 - - 74,323 - 74,323
	- - 1,470,6716,085,954 7,556,625
	- - 694,083 - 694,083 - - 305,941 6,121,783 6,427,724 - - 74,323 - 74,323
	- - 1,074,3476,121,7837,196,130
	- - 396,324 (35,829) 360,495
	(68,082) (63,951) - - (132,033)
	(68,082) (63,951) 396,324(35,829) 228,462
	- - - - -
	999,769 369,0392,367,560113,4723,849,840
	931,687 305,088 2,763,884 77,643 4,078,302

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