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## IntoUni 

(A company limited by guarantee) 

## Working Name **Into** University 

## REPORT AND FINANCIAL STATEMENTS 

## FOR THE YEAR ENDED 31 AUGUST 2022 

Company number: 06019150 Charity number (England and Wales): 1118525 Charity number (Scotland): SCO49776 

**1** 



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## **Letter from the Chair** 

_“Working with_ _**Into** University has benefited me massively. It’s paved the way for my life and my dreams. When it looked like things wouldn’t go to plan in my life,_ _**Into** University opportunities turned it around. I found out about the foundation year at Lady Margaret Hall, the_ _**Into** University Big City Bright Future internship and other internship opportunities._ _**Into** University is the reason I got my life back on track. The opportunities they have given me have allowed me to have a bright future.’_ 

_Year 13 student, City of Oxford College_ 

It has been 20 years since **Into** University was founded in a little corner of West London to support young people in the local community. 

20 years is a significant milestone for any charity, but for **Into** University it is especially meaningful. 20 years represents a generation, and for the students we work with, it means the transition from childhood to adulthood. Dreams that were first imagined 20 years ago are now becoming a reality. Potential that was then untapped is now being realised. 

In recognition of the work that we do, we were delighted to be named the _Charity Times_ Charity of the Year 2022, reflecting the professionalism and commitment of everyone who works for **Into** University. We have won this award three times, in 2010, 2015 and 2022, demonstrating the depth, resilience and consistency of the work that is happening at each of our centres and at Head Office. 

The charity has continued its expansion plans, opening four new centres in Autumn 2022. Our Great Yarmouth centre was opened in partnership with Trinity College, Cambridge and the University of East Anglia; our Hull centre was opened in partnership with the University of Hull and the University of York; our Peterborough centre was opened in partnership with Anglia Ruskin University; and our Salford centre was opened in partnership with the University of Manchester and the University of Salford. 

Our work depends on the continued generosity of our funders. We are deeply 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 facing disadvantage and provide them with the guidance and support they need to achieve their ambitions. 

Tragically, a much-loved colleague, Laura Duncalfe, died in January 2022 after she was knocked off her bike. Laura joined the charity in 2015, and following a number of promotions, in the summer of 2021 she moved to Newcastle to set up and lead our new centre there and to manage our longer-term expansion in the North East. She is sorely missed by us all and will not be forgotten. Laura’s Book Bursary will celebrate her life and work through providing monies for books for our students. 

Hugh Rayment-Pickard, our co-founder, will be moving on from his role as Chief Strategy Officer at **Into** University in 2023. On behalf of both the Board and the Senior Management Team, I want to thank Hugh for the exceptional and outstanding service he has given to the charity, and I am delighted that he will be continuing his involvement with **Into** University in the years ahead through a pro bono role as a Strategic Advisor. 

**2** 



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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 the young people that we support. 

Finally, I wish to thank the families who entrust us with the care of their students, whose dedication, curiosity, and ingenuity make all of us proud to be part of IntoUniversity. 

Oliver Haarmann, Chair 

**3** 



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**CONTENTS For the year ended 31 August 2022** 

|Letter from the Chair|2|
|---|---|
|Contents|4|
|Report of the Trustees|5-22|
|Independent Auditor’s Report|23-25|
|Statement of Financial Activities|26|
|Balance Sheet|27|
|Statement of Cash Flows|28|
|Notes to the Financial Statements|29-43|



**4** 



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## **INTOUNI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022** 

The Trustees present their report and audited financial statements for the year ended 31 August 2022. 

## **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 Pasha Coupet Michaelsen Julian Granville Oliver Haarmann Chair Sarah Havens Christoph Henkel Sophia Lewisohn[1] Vice Chair Clare Richards MBE[1] Safeguarding Trustee Sir Eric Thomas[2] Steve Windsor Treasurer 

1 Nominated by The ClementJames Centre 

2 Stood down on 8 September 2021 

**5** 



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**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

The composition of the committees below is as at 31 August 2022: 

## **Advisory Panel** 

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

Catherine Nelson Harlem Nguyen Rosemary O’Mahoney Solomon Pervez Hilai Qahari Steve Rafferty Alec Rattray Caspar Rock Samaira Saleem Nitin Sharma Mary Ann Sieghart Nat Sloane Rebecca Smith Ros Smith Chris Stephens Andrew Stewart Amelia Sussman Eric Thomas[1] Colin Tyler Ed Vainker 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** 

Julian Granville (Chair) Sophia Lewisohn 

Clare Richards MBE 

**Development Working Group** Roderick Brooks (Chair) 

**Diversity and Inclusion Committee** 

Nilufer von Bismarck OBE (Chair) Sarah Havens 

**6** 



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**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Investment Committee** 

Steve Windsor (Chair) Daniel Century Roderick Brooks Oliver Haarmann Dr Rachel Carr OBE **Nominations Committee** Pasha Coupet Michaelsen (Chair) Sophia Lewisohn Nilufer von Bismarck OBE Clare Richards MBE Oliver Haarmann 

## **Remuneration Committee** 

Oliver Haarmann (Chair) Steve Windsor Christoph Henkel 

## **Senior Management Team** 

Dr Rachel Carr OBE Daniel Century 

Hannah Purkiss Dr Hugh Rayment-Pickard MBE 

## **Senior Leadership Team** 

Senior Management Team Eilis O’Donnell Laura Barton Hannah Padfield John Bleasdale Adam Rahman Laura Culverhouse 

## **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 

## **Principal Investment Managers** 

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

**7** 



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**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## **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 2022 (year ended 31 August 2021: £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. 

**8** 



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**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## 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 2022, the Board met five times, 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 (twice 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. 

**9** 



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**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## **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-confidence, build aspirations and support learning to enable young people to reach their potential to go to university or realise another chosen aspiration. 

The charity provides a centre-based service. The centre is a distinctive place of belonging for students, available to them all year round. The charity believes in the importance of supporting young people in their communities and being in neighbourhoods over the long term to build long lasting relationships with local families and organisations. 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 young as seven years old. 

**10** 



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**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

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 or during key examination/assessment times). 

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, builds metacognition and oracy skills and helps young people re-engage with learning outside of 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 2021-22, the core subjects were Ancient Civilisation, Chemistry and Computer Science - 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/educational institutions, which many of the charity’s students have never accessed before. Primary FOCUS provision includes a university visit and graduation-style 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 transferable 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 self-reflection respectively. Finally, the Student Enrichment programme provides work experience, internships, and networking opportunities giving students access to opportunities and professional advice from a range of industries. 

**11** 



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**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

**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 their last year of school 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 aged 12-13 years old 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. 

The charity runs an Explore Oxbridge Programme which offers tailored support to our students, enabling them to find out more about the University of Cambridge and University of Oxford, develop their skills and explore their academic interest. The programme identifies cohorts of students between the ages of 13 and 18 years who are supported through a mixture of 1-1 sessions, virtual workshops, webinars, support with personal statements and interviews, Open Day visits and with the transition to university. 

Khadija Saye Arts @ **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. 

**12** 



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## **INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

The charity works closely with other institutions including primary and secondary schools local to the centres, and cultural institutions. The charity has the following major university partnerships: 

|**Centres supported**|**Major university partners**|
|---|---|
|Birmingham North|Birmingham City University|
|Bradford East|Queen’s College, Cambridge|
|Bristol East|University of Bristol|
|Bristol South|University of Bath<br>University of Bristol<br>University of Exeter|
|Clacton-on-Sea|Anglia Ruskin University|
|Coventry|University of Warwick|
|Craigmillar<br>Govan<br>Maryhill|University of Edinburgh<br>University of Glasgow|
|Hammersmith|University of Bath|
|Kennington|King’s College, London|
|Leeds East<br>Leeds South<br>Leeds Extension Project|University of Leeds|
|Manchester North|University of Manchester|
|Newcastle|Newcastle University<br>Northumbria University|
|North Liverpool|University of Liverpool|
|Norwich|University of East Anglia|
|Nottingham Central<br>Nottingham East<br>Nottingham West|University of Nottingham|
|Oxford South-East|Christ Church, Oxford<br>University of Oxford|
|Southampton West|University of Southampton|
|Weston-super-Mare|University of Bath|



The charity also has funding partnerships with Christ’s College, Cambridge; Corpus Christi College, Cambridge; London School of Economics; Pembroke College, Cambridge; and Trinity College, Cambridge. In addition, the charity works in collaboration with a range of other university partners. 

**13** 



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## **Strategic Report** 

## **Achievements and Performance** 

During the academic year 2021-22 the charity supported 46,524 children, young people, and student associates. 

Of the students supported, 4,515 attended Academic Support, 23,634 took part in the Primary FOCUS programme, 15,677 took part in Secondary FOCUS programmes for years 7 to 11, 5,469 were supported in years 12 to 13, 2,689 participated in the Mentoring and Buddy programmes, and 198 were supported through the Student Associate Network. 

An analysis tracking the destinations of students who had left school at the end of the 2020-21 academic year and had taken part in the **Into** University programme indicated that 66% of school leavers had secured a university place.[1] Student evaluations collated in 2020-21 indicated that 63% of those students who had participated in the Academic Support programme reported improved school grades, and 66% 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 4,564 students who were either finishing Year 13, or would have completed Year 13 had they stayed in school (a 49% sample of a cohort of 9,284 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 49% 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 55%, 28 percentage points above the average for Free School Meals (FSM) students nationally, and 12 percentage points above the average for all maintained school students nationally. 

**14** 



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## **INTOUNI** 

**REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

Centre by centre programme figures during the 2021-2022 academic year were as follows: 

||||||**Student**|<br>**Total**|
|---|---|---|---|---|---|---|
||**Academic**|**Primary**<br>**FOCUS**||**Mentoring**|**Associate**|<br>**Unique**|
|**Established Centres ***|**Support**|**FOCUS**<br>**Year 7-11**|**Year 12-13**|**and Buddy**|**Network**|**Students ^**|
|**Into**University Birmingham North|121|700<br>502|167|48||1,408|
|**Into**University Bow|132|756<br>452|232|92||1,507|
|**Into**University Brent|159|599<br>455|195|91||1,300|
|**Into**University Brighton|122|663<br>400|160|84||1,264|
|**Into**University Bristol East|203|680<br>443|351|77||1,568|
|**Into**University Bristol South|127|691<br>469|242|89||1,454|
|**Into**University Brixton|131|739<br>461|192|65||1,442|
|**Into**University Clacton-on-Sea|97|939<br>430|121|63||1,510|
|**Into**University Coventry|133|710<br>452|260|97||1,452|
|**Into**University East Ham|127|596<br>455|165|91||1,213|
|**Into**University Hackney Downs|132|617<br>469|165|39||1,275|
|**Into**University Hackney South|149|693<br>489|259|108||1,519|
|**Into**University Hammersmith|146|651<br>464|273|88||1,447|
|**Into**University Haringey North|137|666<br>566|338|91||1,620|
|**Into**University Kennington|140|801<br>534|150|93||1,515|
|**Into**University Leeds East|174|750<br>479|109|109||1,436|
|**Into**University Leeds Extension|103|676<br>464|-|69||1,224|
|**Into**University Leeds South|133|684<br>454|165|80||1,374|
|**Into**University Manchester North|144|715<br>444|94|83||1,311|
|**Into**University North Islington|133|644<br>474|158|70||1,286|
|**Into**University North Kensington|189|693<br>473|203|92||1,481|
|**Into**University North Liverpool|138|753<br>479|145|95||1,435|
|**Into**University Nottingham Central|149|809<br>475|119|92||1,459|
|**Into**University Nottingham East|133|704<br>495|180|99||1,390|
|**Into**University Nottingham West|125|784<br>476|174|90||1,472|
|**Into**University Oxford South East|137|633<br>573|215|99||1,455|
|**Into**University Southampton West|110|687<br>508|115|84||1,332|
|**Into**University Walworth|138|764<br>505|204|68||1,572|
|**Into**University Weston-super-Mare|99|632<br>510|77|105||1,262|
|**Launch Centres ***|||||||
|**Into**University Bradford East|94|483<br>324|68|58||903|
|**Into**University Craigmillar|111|670<br>238|73|27||954|
|**Into**University Govan|101|684<br>340|79|34||1,088|
|**Into**University Maryhill|80|412<br>150|-|28||581|
|**Into**University Newcastle East|118|507<br>253|102|8||884|
|**Into**University Norwich|75|479<br>537|48|54||1,103|
|**Cross centre events**|-|-                  16|37|29||56|
|**Student Associate Network**|||||198|198|
|**Total ^**|4,515|23,634<br>15,677|5,469|2,689|198|46,524|



* ‘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. 

**15** 



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I **NTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Financial Review** 

Total expenditure for the year amounted to £9,481,872 (year to August 2021: £8,095,033). Total income amounted to £11,026,858 (year to August 2021: £8,850,088). At 31 August 2022 the charity had net assets of £6,419,695 (2021: £5,001,335). These comprised a £835,157 designated fund, free reserves of £3,498,186, restricted operating funds of £275,917, a permanent endowment of £1,676,574, and an expendable endowment of £133,861. 

**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 of between three months’ forecast running costs (currently equal to £2.75m) and six months’ forecast running costs (currently equal to £5.50m). At the end of the year, free reserves stood at £3,498,186 which is within the reserves policy requirement. 

In addition to its free reserves, the charity holds a designated fund of £835,157, a permanent endowment of £1,676,574, and an expendable endowment of £133,861. 

The designated fund provides the charity with extra financial security for its growth plan. The charity currently has ambitious targets to reach more social mobility coldspots and educationally underserved regions of the UK, expanding to 50 learning centres in the coming years. In view of the significant annual funding requirements to achieve this ambition, and the challenging financial and funding environment that the charity is operating in, 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 expansion, 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 £133,861 has arisen from legacies and donations made specifically for that purpose. 

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

**16** 



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I **NTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## Investment Policy 

As at 31 August 2022, £2,421,944 was held in equity and fixed income investments and £2,242,972 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 losses on the charity’s investments amounted to £126,626. This decrease reflected trends in the wider market. 

## 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 2021-22 the charity did not work with any third-party partners to directly deliver fundraising activities with trusts and foundations or individual donors. No complaints about the charity's fundraising activities were received during the year (2021: no complaints). 

**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. 

**17** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


I **NTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## 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 £9.9m from voluntary income and event income. These funds came from educational institutions (33%), charitable trusts and foundations (30%), individual donors and funds raised at events (21%),and corporate donors (16%). 

## **Non-Financial Support** 

Throughout the year the charity has received professional advice, services and time from various individuals and organisations. 

The charity has 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 pro bono 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 autumn 2022: 

- A centre in Great Yarmouth, in partnership with Trinity College, Cambridge and the University of East Anglia 

- A centre in Hull, in partnership with the University of Hull and the University of York 

- A centre in Peterborough, in partnership with Anglia Ruskin University 

- A centre in Salford, in partnership with the University of Manchester and the University of Salford. 

The charity is in advanced discussions on future expansion with a number of university partners with a view to opening up to five new centres in 2023-24. 

The charity’s current business plan is 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. **Into** University currently has 39 learning centres in operation from autumn 2022, and is set to surpass its target of 41 learning centres in 2023. The charity has now expanded its ambition to reach 50 learning centres over the coming years. 

**18** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


I **NTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Principal Risks and Uncertanities** 

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**|**Key actions to mitigate risk**|
|---|---|
|Change in<br>government or<br>political aims|•Be aware of potential changes in government policies, including government<br>support for the financial position of universities and government initiatives to<br>address the impact of COVID-19 lockdowns on the education gap, and to<br>consider the implications for charity<br>•Be aware of implications of a new political administration and the potential<br>impact on discussions around the level of university fees and other changes<br>to the Higher Education sector; work closely with university partners to assess<br>the implications for partnerships<br>•Maintain strong relationships with policymakers, key people in the widening<br>participating field, and the Office for Students|
|Data security /<br>cyber-security<br>risk|•Ongoing review of data protection policies and procedures to ensure<br>compliance with data protection legislation<br>•Engage data protection consultant to support with data protection compliance<br>with current and future regulations<br>•Engagement of third-party IT providers to provide additional cyber-security<br>guidance and expertise|
|Diversity lacking<br>amongst staff &<br>volunteers, and<br>in the charity’s<br>resources|•Creation of formal Diversity and Inclusion three-year strategy for 2022-2025<br>•Permanent Diversity and Inclusion team.<br>•Continued operation of Diversity and Inclusion Forum, consisting of permanent<br>Diversity and Inclusion Team and staff members from across the charity.<br>•Standing item at Board meetings<br>•Diversity and Inclusion sub-committee of the Board<br>•Refresh and review of existing training programme by Diversity and Inclusion<br>Team<br>•Continue to analyse equal opportunities data collected and analysed during<br>recruitment process to identify focus areas<br>•Equal opportunities data collected for current staff team and new starters, in<br>order to identify areas of under-representation and focus and to examine<br>correlation between diversity characteristics and pay, progression and<br>retention<br>•Issue Employee Engagement Survey to analyse correlation between the<br>employee experience of working at the charity and diversity characteristics, in<br>order to identify areas of focus, to provide a benchmark to measure the<br>success of ongoing initiatives, and to inform the formal Diversity and Inclusion<br>strategy.|



**19** 



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|**Risk identified**|**Key actions to mitigate risk**|
|---|---|
|Failure to raise<br>funding to<br>cover<br>expenditure -<br>including impact<br>of high inflation<br>and uncertain<br>economic<br>environment on<br>funding and cost<br>base|•New centres/projects launched only when funding has been secured for<br>incremental cost of the centres/projects<br>•General reserves policy provides additional protection against a funding<br>shortfall<br>•Designated fund in reserves provides additional security during period of<br>growth and can be used in the event of a funding shortfall<br>•Monitoring (as necessary) by the Senior Management Team and Board of cost<br>levers in the context of fundraising gaps<br>•Modelling of inflation-linked scenarios to identify level of fundraising risk<br>•Fundraising targets assume mid-to-high level of inflation|
|Failure to recruit<br>staff or<br>fail in quality of<br>recruited staff|•Recruitment review conducted to identify areas of improvement and focus, and<br>to maximise inclusiveness of process<br>•Thorough and targeted advertising approach, including job sites, university<br>advertising, social media, stakeholder support<br>•Revision of recruitment literature to increase appeal to candidates<br>•Pay review considers competitiveness of pay offering<br>•Operate a combination of online and in-person recruitment to make<br>recruitment accessible and effective|
|Impact of cost of<br>living crisis on<br>staff|•Remuneration Committee considers competitiveness of pay, both during<br>organisational pay review and as required<br>•Ongoing assessment of impact including need for additional pay actions<br>•Consider government response to rising energy costs and evaluate options for<br>staff support<br>•Discretionary interest-free staff loans in the case of significant employee<br>cashflow issues<br>•Employee Assistance Programme operated for staff includes access to<br>wellbeing support|
|Loss/absence of<br>key staff due to<br>sickness,<br>departure or<br>other leave|•Management responsibility shared between senior team<br>•Succession planning for senior staff<br>•Recruit sufficient staff to cover absences and in anticipation of staff turnover,<br>within budgetary constraints<br>•Monitor staff absences to ensure that staff are supported and to identify and<br>anticipate operational issues<br>•Consider flexible working arrangements to retain skilled staff and to react to<br>changing conditions|
|Venues pull out<br>or exit lease|•Maintain good relations with landlords<br>•Ensure sufficient notice periods are built into lease agreements<br>•Provision included in budget for potential additional lease/capital costs<br>resulting from a centre move to a new site.|



**20** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## **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. 

**21** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


**INTOUNI REPORT OF THE TRUSTEES – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

The Report of the Trustees, which incorporates the Strategic Report, was approved by the Trustees on 7 December 2022 and signed on their behalf by: 

……………………………………..……   (Chair) Oliver Haarmann 

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

**22** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **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 2022 which 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 2022 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. 

**23** 



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## **INTOUNI INDEPENDENT AUDITOR’S REPORT – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

## **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 21, 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. 

**24** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **INTOUNI INDEPENDENT AUDITOR’S REPORT – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022** 

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. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

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) For and on behalf of Haysmacintyre LLP, Statutory Auditor 

16 December …………………………………………2022 

10 Queen Street Place London EC4R 1AG 

**25** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2022** 

|**Notes**<br>**Income from:**<br>Donations and legacies<br>**3**<br>Other trading activities<br>**4**<br>Investments<br>**5**<br>Donated services<br>**3**<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>**6**<br>Charitable activities<br>**6**<br>Donated services<br>**6**<br>**Total expenditure**<br>**Net income / (expenditure)**<br>**before losses on investments**<br>**7**<br>Net (losses) / gains on investments<br>**Net income / (expenditure)**<br>**Funds brought forward**<br>**Total funds carried forward**|**Designated**<br>**funds**<br>**Expendable**<br>**Endowment**<br>**General**<br>**fund**<br>**Restricted**<br>**funds**<br>**2022 Total**<br>**(excluding**<br>**Permanent**<br>**Endowment)** <br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>-                   -      2,090,708    7,662,448      9,753,156<br>-                   -           44,289         89,260         133,549<br>-                   -           69,700<br>-             69,700<br>-                   -           70,453<br>-             70,453<br>-                   -      2,275,1507,751,70810,026,858<br>-                   -         796,501<br>-           796,501<br>-                   -         888,302    7,726,616      8,614,918<br>-                   -           70,453<br>-             70,453<br>-                   -      1,755,2567,726,616 9,481,872<br>-                   -         519,894         25,092         544,986<br>(47,219) (988) (1,324)<br>-            (49,531)<br> (47,219)  (988)<br> 518,57025,092         495,455<br> 882,376134,8492,979,616250,8254,247,666<br>835,157         133,861    3,498,186       275,917      4,743,121|**Permanent**<br>**Endowment**<br>**£**<br>1,000,000<br>-<br>-<br>-<br>1,000,000<br>-<br>-<br>-<br>-<br>1,000,000<br>(77,095)<br> 922,905<br>753,669<br>1,676,574|**2022 Total**<br>**£**<br>10,753,156<br>133,549<br>69,700<br>70,453<br>11,026,858<br>796,501<br>8,614,918<br>70,453<br> 9,481,872<br>1,544,986<br>(126,626)<br>1,418,360<br> 5,001,335<br>6,419,695|**2021 Total**<br>**£**<br>8,653,897<br>116,604<br>35,417<br>44,170|
|---|---|---|---|---|
|||||8,850,088|
|||||661,472<br>7,389,391<br>44,170|
|||||8,095,033|
||||||
|||||755,055|
|||||167,978|
|||||923,033|
||||||
|||||4,078,302|
||||||
|||||5,001,335|



The notes on pages 28 – 43 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. 

For the purposes of the Companies Act, the Statement of Income and Expenditure excludes Permanent Endowment funds, and therefore is the column entitled “2022 Total (excluding Permanent Endowment)”. 

**26** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **BALANCE SHEET AS AT 31 AUGUST 2022** 

|**Notes**<br>**Fixed Assets:**<br>Investments - managed funds<br>**10**<br>Long-term deposits<br>**Current assets:**<br>Debtors and prepayments<br>**11**<br>Cash at bank & in hand<br>**Creditors:**<br>Amounts falling due within one year<br>**12**<br>**Net current assets**<br>**Net assets**<br>**13**<br>**The funds of the charity:**<br>**Unrestricted funds:**<br>General funds<br>**14**<br>Designated funds<br>**14**<br>**Restricted funds:**<br>Operating funds<br>**14**<br>Permanent endowment<br>**14**<br>Expendable endowment<br>**14**|**2022**<br>**2021**<br>**£**<br>**£**<br>2,421,944<br>1,548,570<br>2,242,972<br>2,237,355<br>4,664,916<br>3,785,925<br>192,284<br>107,070<br>4,166,302<br>4,895,484<br>4,358,586<br>5,002,554<br>2,603,807<br>3,787,144<br>1,754,779<br>1,215,410<br>**6,419,695**<br>**5,001,335**<br>3,498,186<br>2,979,616<br>835,157<br>882,376<br>275,917<br>250,825<br>1,676,574<br>753,669<br>133,861<br>134,849<br>**6,419,695**<br>**5,001,335**|
|---|---|



Approved by the Trustees and authorised for issue on 7 December 2022 and signed on their behalf by: 

………………………………………………….. 

(Chair) 

Oliver Haarmann 

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

Company Number: 6019150 

The notes on pages 28 – 43 form part of these financial statements. 

**27** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **STATEMENT OF CASH FLOWS AS AT 31 AUGUST 2022** 

|**Note**<br>Net cash provided by (used in) operating activities<br>**A**<br>Cash flows from investing activities<br>Interest income<br>Purchase of long-term deposits<br>Purchase of investments<br>Cash provided by (used in) investing activities<br>Increase in cash and cash equivalents in the year<br>Cash and cash equivalents (net funds) at the beginning of the year<br>**Total cash and cash equivalents (net funds) at the end of the year**|**2022**<br>**£**<br>206,735<br>64,083<br>-<br>(1,000,000)<br>(935,917)<br> **(729,182)**<br>4,895,484<br>**4,166,302 **|**2021**<br>**£**<br>2,174,713<br>30,771<br>(500,000)<br>(500,000)|
|---|---|---|
|||(969,229)|
|||**1,205,484 **|
|||3,690,000|
|||**4,895,484 **|



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

|Net income for the reporting period<br>Adjustments for:<br>Investment income<br>Losses/(gains) on investments<br>Dividends, interest and rents from investments<br>(Increase)/decrease in debtors<br>Increase/(decrease) in creditors<br>**Net cash provided by (used in) operating activities**|**2022**<br>**2021**<br>**£**<br>**£**<br>1,418,360<br>923,033<br>(6,175)<br>(4,915)<br>126,626<br>(167,978)<br>(63,525)<br>(30,502)<br>(85,214)<br>148,328<br>(1,183,337)<br>1,306,747<br>**206,735**<br>**2,174,713**|
|---|---|



**28** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **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. 

**29** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **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 fair 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. 

**30** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **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. 

**31** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **3. Donations and legacies** 

|**Grants and donations**<br>29th May 1961 Charitable Trust<br>Accenture<br>Alex and William de Winton Trust<br>Anonymous grants<br>Aurum Charitable Trust<br>Bank of America<br>Big City, Bright Future donations<br>Brick Court Chambers<br>Capricorn Energy<br>CVC Capital Partners<br>The David & Elaine Potter Foundation<br>Esmée Fairbairn Foundation<br>Four Acre Trust<br>Garfield Weston Foundation<br>Houlihan Lokey<br>Impetus<br>Inflexion Foundation<br>The John Armitage Charitable Trust<br>The Jongen Charitable Trust<br>Kristian Gerhard Jebsen Foundation<br>Lund Trust<br>Manny Cussins Foundation<br>Mercers' Charitable Foundation<br>Nomura Charitable Trust<br>Oglesby Charitable Trust<br>The Peter Cundill Foundation<br>Porticus<br>Prudence Trust<br>Schroders<br>Sofronie Foundation<br>Stitchting West Coast Foundation<br>The Stone Family Foundation<br>Tuixen Foundation<br>UBS<br>The Wheeler Family Charitable Trust<br>Corporate donations of less than £50,000<br>Trust donations of less than £50,000<br>Individual donors<br>Gift Aid<br>**Statutory, university and school funding**<br>Anglia Ruskin University<br>Bath, University of<br>Birmingham City University<br>Bristol, University of<br>Christ Church, Oxford<br>University of Edinburgh and University of Glasgow  *<br>Higher Education Funding Council for England<br>King's College London<br>Leeds, University of<br>Liverpool, University of, and the LFC Foundation<br>Manchester, University of<br>New castle University<br>Northumbria University<br>Nottingham, University of<br>Oxford, University of<br>Queens' College, Cambridge<br>Southampton, University of<br>Trinity College, Cambridge<br>University of East Anglia<br>Warw ick, University of<br>University donations of less than £50,000<br>Independent Schools|**Unrestricted**<br>**Restricted**<br>**Permanent**<br>**Endowment**<br>**2022**<br>**Unrestricted**<br>**Restricted**<br>**Permanent**<br>**Endowment**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>-<br>-<br>-<br>60,000<br>-<br>-<br>60,000<br>-<br>50,000<br>-<br>50,000<br>-<br>33,333<br>-<br>33,333<br>-<br>60,000<br>-<br>60,000<br>-<br>60,000<br>-<br>60,000<br>51,159<br>837,197<br>500,000<br>1,388,356<br>-<br>1,033,477<br>250,000<br>1,283,477<br>-<br>100,000<br>-<br>100,000<br>-<br>100,000<br>-<br>100,000<br>-<br>68,731<br>-<br>68,731<br>-<br>111,450<br>-<br>111,450<br>-<br>46,470<br>-<br>46,470<br>-<br>132,650<br>-<br>132,650<br>-<br>71,744<br>-<br>71,744<br>-<br>41,224<br>-<br>41,224<br>-<br>20,000<br>-<br>20,000<br>-<br>50,000<br>-<br>50,000<br>-<br>-<br>-<br>-<br>-<br>100,000<br>-<br>100,000<br>66,667<br>-<br>-<br>66,667<br>-<br>100,000<br>-<br>100,000<br>100,000<br>-<br>-<br>100,000<br>100,000<br>-<br>-<br>100,000<br>-<br>71,200<br>-<br>71,200<br>-<br>-<br>-<br>-<br>-<br>190,000<br>-<br>190,000<br>-<br>70,000<br>-<br>70,000<br>-<br>200,000<br>-<br>200,000<br>-<br>-<br>-<br>-<br>-<br>175,000<br>-<br>175,000<br>-<br>-<br>-<br>-<br>200,000<br>-<br>-<br>200,000<br>83,333<br>-<br>-<br>83,333<br>50,000<br>-<br>-<br>50,000<br>30,000<br>-<br>-<br>30,000<br>93,750<br>-<br>-<br>93,750<br>31,250<br>-<br>-<br>31,250<br>-<br>500,000<br>-<br>500,000<br>-<br>500,000<br>-<br>500,000<br>100,000<br>-<br>-<br>100,000<br>100,000<br>-<br>-<br>100,000<br>-<br>50,000<br>-<br>50,000<br>-<br>-<br>-<br>-<br>-<br>116,700<br>-<br>116,700<br>-<br>116,700<br>-<br>116,700<br>-<br>56,173<br>-<br>56,173<br>-<br>50,000<br>-<br>50,000<br>-<br>50,000<br>-<br>50,000<br>-<br>-<br>-<br>-<br>142,150<br>-<br>-<br>142,150<br>154,457<br>-<br>-<br>154,457<br>-<br>69,993<br>-<br>69,993<br>-<br>72,986<br>-<br>72,986<br>-<br>-<br>-<br>-<br>-<br>50,000<br>-<br>50,000<br>-<br>75,000<br>-<br>75,000<br>-<br>75,903<br>-<br>75,903<br>-<br>-<br>-<br>-<br>-<br>50,000<br>-<br>50,000<br>-<br>100,000<br>-<br>100,000<br>-<br>100,000<br>-<br>100,000<br>-<br>-<br>-<br>-<br>100,000<br>-<br>-<br>100,000<br>50,000<br>-<br>-<br>50,000<br>50,000<br>-<br>-<br>50,000<br>-<br>105,170<br>-<br>105,170<br>-<br>192,000<br>-<br>192,000<br>-<br>100,000<br>-<br>100,000<br>-<br>100,000<br>-<br>100,000<br>133,890<br>266,273<br>-<br>400,163<br>85,708<br>151,644<br>-<br>237,352<br>100,750<br>530,091<br>-<br>630,841<br>83,000<br>550,079<br>-<br>633,079<br>934,357<br>481,181<br>500,000<br>1,915,538<br>231,315<br>402,966<br>-<br>634,281<br>67,985<br>-<br>-<br>67,985<br>44,294<br>-<br>-<br>44,294<br>-<br>120,000<br>-<br>120,000<br>-<br>120,000<br>-<br>120,000<br>-<br>281,668<br>-<br>281,668<br>-<br>321,668<br>-<br>321,668<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>161,668<br>-<br>161,668<br>-<br>161,668<br>-<br>161,668<br>-<br>60,000<br>-<br>60,000<br>-<br>60,000<br>-<br>60,000<br>-<br>178,589<br>-<br>178,589<br>-<br>37,251<br>-<br>37,251<br>-<br>10,949<br>-<br>10,949<br>-<br>267,545<br>-<br>267,545<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>387,200<br>-<br>387,200<br>-<br>382,944<br>-<br>382,944<br>-<br>120,000<br>-<br>120,000<br>-<br>120,000<br>-<br>120,000<br>-<br>120,000<br>-<br>120,000<br>-<br>121,022<br>-<br>121,022<br>-<br>70,000<br>-<br>70,000<br>-<br>-<br>-<br>-<br>-<br>70,000<br>-<br>70,000<br>-<br>-<br>-<br>-<br>-<br>375,000<br>-<br>375,000<br>-<br>375,000<br>-<br>375,000<br>-<br>60,000<br>-<br>60,000<br>-<br>60,000<br>-<br>60,000<br>-<br>180,000<br>-<br>180,000<br>-<br>-<br>-<br>-<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>58,783<br>-<br>58,783<br>-<br>15,000<br>-<br>15,000<br>-<br>210,000<br>-<br>210,000<br>-<br>140,000<br>-<br>140,000<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>125,000<br>-<br>110,168<br>-<br>110,168<br>-<br>136,530<br>-<br>136,530<br>-<br>197,500<br>-<br>197,500<br>-<br>187,500<br>-<br>187,500<br>2,090,708<br>7,662,448<br>1,000,000<br>10,753,156<br>1,153,357<br>7,250,540<br>250,000<br>8,653,897|
|---|---|



* joint fundraising campaign 

**32** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **3. Donations and legacies (continued)** 

In addition to the income disclosed in the table above, £70,453 legal and professional support was received through pro bono donations (year ended 31 August 2021: £44,170). Donated services are analysed as unrestricted income and expenditure within the financial statements. 

## **4. Other trading activities** 

|||**Unrestricted**|**Restricted**|**2022**|**Unrestricted**|**Restricted**|**2021**|
|---|---|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|Event|income|44,289|89,260|133,549|13,811|102,793|116,604|
|||44,289|89,260<br>|133,549<br>|13,811|102,793|116,604|
|**5.**|**Investment**|**Income**||||||
|||**Unrestricted**|**Restricted**|**2022**|**Unrestricted**|**Restricted**|**2021**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|Bank|interest|6,175|-<br>|6,175<br>|4,915|-|4,915|
|Dividends||63,525|-|63,525|30,502<br>|-<br>|30,502|
|||69,700|-|69,700|35,417|-|35,417|



## **5. Investment Income** 

**33** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **6. Expenditure** 

|**Raising funds**<br>Costs of generating voluntary income<br>**Charitable activities**<br>IU Birmingham North<br>IU Bow<br>IU Brent<br>IU Brighton<br>IU Bristol East<br>IU Bristol South<br>IU Brixton<br>IU Clacton-on-Sea<br>IU Coventry<br>IU Craigmillar<br>IU East Ham<br>IU Govan<br>IU Hackney Dow ns<br>IU Hackney South<br>IU Hammersmith<br>IU Haringey North<br>IU Kennington<br>IU Leeds East<br>IU Leeds South<br>IU Leeds Extension Project<br>IU Manchester North<br>IU North Islington<br>IU North Liverpool<br>IU Norw ich<br>IU Nottingham East<br>IU Nottingham West<br>IU North Kensington*<br>IU Nottingham Central<br>IU Oxford South East<br>IU Southampton West<br>IU Walw orth<br>IU Weston-super-Mare<br>IU Bradford East<br>IU Mary Hill<br>IU New castle East<br>IU Great Yarmouth<br>IU Hull<br>IU Peterborough<br>IU Salford<br>IU Boarding Schools Bursary Project<br>**Support costs**<br>**Donated services**<br>**Governance costs**<br>External audit<br>Trustees’ indemnity insurance<br>Other costs<br>**Total expenditure**|**Staff costs**<br>**Direct costs**<br>**Total costs**<br>**Reallocation of**<br>**support /**<br>**governance**<br>**costs**<br>**2022**<br>**12 months**<br>**ended 31 Aug**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**|
|---|---|
||489,113<br>115,097<br>**604,210**<br>192,291<br>**796,501**|
||147,386<br>56,411<br>**203,797**<br>11,612<br>**215,409**<br>164,248<br>74,818<br>**239,066**<br>11,612<br>**250,678**<br>176,350<br>65,645<br>**241,995**<br>11,612<br>**253,607**<br>158,441<br>73,691<br>**232,132**<br>11,612<br>**243,744**<br>164,494<br>73,910<br>**238,404**<br>11,612<br>**250,016**<br>166,484<br>59,381<br>**225,865**<br>11,612<br>**237,477**<br>185,752<br>58,488<br>**244,240**<br>11,612<br>**255,852**<br>168,654<br>72,554<br>**241,208**<br>11,612<br>**252,820**<br>153,430<br>58,920<br>**212,350**<br>11,612<br>**223,962**<br>157,611<br>63,893<br>**221,504**<br>11,612<br>**233,116**<br>178,397<br>64,839<br>**243,236**<br>11,612<br>**254,848**<br>177,009<br>72,406<br>**249,415**<br>11,612<br>**261,027**<br>172,511<br>53,425<br>**225,936**<br>11,612<br>**237,548**<br>168,272<br>57,065<br>**225,337**<br>11,612<br>**236,949**<br>176,979<br>68,191<br>**245,170**<br>11,612<br>**256,782**<br>189,517<br>55,691<br>**245,208**<br>11,612<br>**256,820**<br>174,291<br>58,422<br>**232,713**<br>11,612<br>**244,325**<br>139,201<br>61,326<br>**200,527**<br>11,612<br>**212,139**<br>147,941<br>63,488<br>**211,429**<br>11,612<br>**223,041**<br>147,313<br>56,225<br>**203,538**<br>11,612<br>**215,150**<br>166,465<br>76,492<br>**242,957**<br>11,612<br>**254,569**<br>187,832<br>73,060<br>**260,892**<br>11,612<br>**272,504**<br>187,041<br>75,724<br>**262,765**<br>11,612<br>**274,377**<br>159,482<br>55,194<br>**214,676**<br>11,612<br>**226,288**<br>170,649<br>68,197<br>**238,846**<br>11,612<br>**250,458**<br>161,017<br>55,975<br>**216,992**<br>11,612<br>**228,604**<br>-<br>190,000<br>**190,000**<br>-<br>**190,000**<br>149,303<br>63,703<br>**213,006**<br>11,612<br>**224,618**<br>153,445<br>63,894<br>**217,339**<br>11,612<br>**228,951**<br>160,710<br>65,211<br>**225,921**<br>11,612<br>**237,533**<br>190,294<br>65,731<br>**256,025**<br>11,612<br>**267,637**<br>150,024<br>63,454<br>**213,478**<br>11,612<br>**225,090**<br>148,852<br>93,506<br>**242,358**<br>11,612<br>**253,970**<br>154,546<br>76,262<br>**230,808**<br>11,612<br>**242,420**<br>163,774<br>79,881<br>**243,655**<br>11,612<br>**255,267**<br>10,812<br>18,009<br>**28,821**<br>-<br>**28,821**<br>8,361<br>28,528<br>**36,889**<br>-<br>**36,889**<br>7,583<br>18,311<br>**25,894**<br>-<br>**25,894**<br>13,251<br>19,222<br>**32,473**<br>-<br>**32,473**<br>36,054<br>7,191<br>**43,245**<br>-<br>**43,245**|
||5,693,776<br>2,526,334<br>**8,220,110**<br>394,808<br>**8,614,918**|
|||
||353,806<br>168,023<br>**521,829**<br>(521,829)<br>**-**|
|||
||-<br>70,453<br>**70,453**<br>-<br>**70,453**|
||-<br>12,300<br>**12,300**<br>(12,300)<br>**-**<br>-<br>717<br>**717**<br>(717)<br>**-**<br>50,580<br>1,673<br>**52,253**<br>(52,253)<br>**-**|
||50,580<br>14,690<br>**65,270**<br>(65,270)<br>**-**|
|||
||6,587,275<br>2,894,597<br>**9,481,872**<br>-<br>**9,481,872**|



*Total cost of **Into** University North Kensington provision within The ClementJames Centre was £319,347 (year to August 2021: £310,602), of which **Into** University contributed £190,000. 

**34** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **6. Expenditure (continued)** 

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



**35** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **6. Expenditure (continued)** 

Support costs were constituted as follows: 

|**7.**<br>**Net income for the year**<br>This is stated after charging:<br> <br>**2022**<br>**£**<br>Staff costs<br>353,806<br>Other employment costs<br>12,884<br>Direct costs<br>155,139<br>521,829<br>**2022**<br>**£**<br>Operating lease payments - land and buildings<br>784,229<br>Operating lease payments - office equipment<br>17,231<br>Auditor's remuneration (including VAT)<br>12,300<br>Expenses reimbursed to Trustees<br>-<br> <br>813,760|**2021**<br>**£**<br>301,648<br> <br>7,357<br>126,148|
|---|---|
||435,153<br> <br>**2021**<br>**£**<br>646,299<br>17,231<br>11,100<br> <br>-|
||674,630|



## **7. Net income for the year** 

This is stated after charging: 

No expenses were reimbursed to Trustees in the current or prior year. No Trustee received remuneration in the current or prior year. 

**36** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **8. Staff costs and numbers** 

|The average number of employees during the year was as follows:<br>Employees who earned more than £60,000 p.a. were as follows:<br>**2022**<br>**£**<br>Salaries and wages<br>5,770,704<br>Social security costs<br>559,449<br>Pension contributions<br>257,122<br>6,587,275<br>Projects and activities<br>175<br> <br>IU Head Office<br>38<br>213|**2021**<br>**£**<br>4,939,025<br>451,559<br>227,157|
|---|---|
||5,617,741|
||161<br>31|
||192<br>|
|||



|£60,000-£69,999<br>£80,000-£89,999<br>£90,000-£99,999|**2022**<br>**2021**<br>**No.**<br>**No.**<br>1<br>-<br>-<br>2<br>2<br>-<br>3<br>2|
|---|---|



Employer pension contributions made on behalf of these employees amounted to £12,364 (2021: £8,707). 

The total employee benefits of the key management personnel of the charity were £358,549 (2021: £322,807). 

## **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. 

**37** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **10. Investments – managed funds** 

|Market value at 1 September<br>Additions at cost<br>Net (loss)/gain on revaluation for the period<br>Market value at period end<br>Historical cost at period end<br>**Analysis of holdings:**<br>Shareholdings of more than 5% of the portfolio:<br>**Equity and Fixed Income Investments**<br>**Units**<br>BlackRock Charities Grow th & Income Fund A Inc<br>507,845<br>BlackRock Charities UK Bond Fund A Inc<br>84,707<br>CCLA COIF Charities Fixed Interest Inc<br>106,090<br>iShares 100 UK Equity Index Fund (UK) D Acc<br>73,011<br>iShares Corporate Bond Index Fund (UK) D Acc<br>171,221<br>SUTL Cazenove Charity Equity Income Fund A Inc<br>755,034<br>SUTL Cazenove Charity Equity Income Fund A Acc<br>146,735<br>SUTL Cazenove Charity Equity Value Fund A Inc<br>83,577|**2022**<br>**£**<br>1,548,570<br>1,000,000<br>(126,626)<br>2,421,944<br>2,352,000<br>**2022**<br>**£**<br>568,787<br>130,449<br>125,196<br>139,489<br>251,061<br>663,901<br>199,560<br>343,501<br>2,421,944|**2021**<br>**£**<br>880,592<br>500,000<br>167,978|
|---|---|---|
|||1,548,570|
||||
|||1,352,000|
|||**2021**<br>**£**<br>201,681<br>160,097<br>145,099<br>131,275<br>99,214<br>261,670<br>202,774<br>346,760|
|||1,548,570|



## **11. Debtors** 

|Prepayments<br>Accrued income<br>Other debtors|**2022**<br>**2021**<br>**£**<br>**£**<br>80,288<br>71,823<br>81,710<br>18,348<br>30,286<br>16,899<br>192,284<br>107,070|
|---|---|



**38** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **12. Creditors: Amounts falling due within one year** 

|Deferred income<br>Social security and other taxes<br>Trade creditors and accruals|**2022**<br>**£**<br>1,959,783<br>165,766<br>478,258<br>2,603,807|**2021**<br>**£**<br>3,213,326<br>132,469<br>441,349<br>|
|---|---|---|
|||3,787,144|



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:**<br>Balance brought forward<br>Released to the SOFA during the year<br>Amount deferred during the year<br>Balance at 31stAugust|**2022**<br>**£**<br>3,213,326<br>(3,213,326)<br>1,959,783<br>1,959,783|**2021**<br>**£**<br>2,042,730<br>(2,042,730)<br>3,213,326|
|---|---|---|
|||3,213,326|



## **13. Analysis of net assets between funds** 

|Equity investments<br>Fixed income investments<br>Long-term deposits<br>Current assets<br>Current liabilities<br>Net assets at 31 August<br>Equity investments<br>Fixed income investments<br>Long-term deposits<br>Current assets<br>Current liabilities<br>Net assets at 31 August|**Designated**<br>**funds**<br>**Expendable**<br>**endowment**<br>**Permanent**<br>**endowment**<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2022**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>572,068             128,746          1,175,513               38,911                      -<br>**1,915,238**<br>243,696                 5,115             251,061                 6,834                      -<br>**506,706**<br>19,393                      -                        -            2,223,579                      -<br>**2,242,972**<br>-                        -               250,000          1,872,886          2,235,700<br>**4,358,586**<br>-                        -                        -             (644,024) (1,959,783)<br>**(2,603,807)**|
|---|---|
||**835,157**<br>**133,861**<br>**1,676,574**<br>**3,498,186**<br>**275,917**<br>**6,419,695**|
||**Designated**<br>**funds**<br>**Expendable**<br>**endowment**<br>**Permanent**<br>**endowment**<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>572,052             128,743             404,455               38,910                      -<br>**1,144,160**<br>290,931                 6,106               99,214                 8,159                      -<br>**404,410**<br>19,393                      -                        -            2,217,962                      -<br>**2,237,355**<br>-                        -               250,000          1,288,403          3,464,151<br>**5,002,554**<br>-                        -                        -             (573,818) (3,213,326)<br>**(3,787,144)**|
||**882,376**<br>**134,849**<br>**753,669**<br>**2,979,616**<br>**250,825**<br>**5,001,335**|



**39** 



DocuSign Envelope ID: 6CBBD83B-0153-48BF-9496-85468BF77DBD 


## **14. Movements in funds** 

|**Restricted Funds:**<br>IU Head Office<br>IU Birmingham North<br>IU Bow<br>IU Brent<br>IU Brighton<br>IU Bristol East<br>IU Bristol South<br>IU Brixton<br>IU Clacton-on-Sea<br>IU Coventry<br>IU Craigmillar<br>IU East Ham<br>IU Govan<br>IU Hackney Downs<br>IU Hackney<br>IU Hammersmith<br>IU Haringey North<br>IU Kennington<br>IU Leeds East<br>IU Leeds Extension Project<br>IU Leeds South<br>IU Manchester North<br>IU North Islington<br>IU North Liverpool<br>IU Norwich<br>IU Nottingham Central<br>IU Nottingham East<br>IU Nottingham West<br>IU North Kensington<br>IU Oxford South East<br>IU Southampton West<br>IU Walworth<br>IU Weston-super-Mare<br>IU Bradford East<br>IU Mary Hill<br>IU Newcastle East<br>IU Great Yarmouth<br>IU Hull<br>IU Peterborough<br>IU Salford<br>IU Boarding Schools Bursary Project<br>**Total restricted funds**<br>**Unrestricted funds:**<br>General funds<br>Designated funds<br>Expendable endowment<br>Permanent endowment<br>**Total unrestricted funds**<br>**Net incoming resources and**<br>**unrealised gains**|**At 1**<br>**September**<br>**2021**<br>**Unrealised**<br>**gains**<br>**Income**<br>**Expenditure**<br>**Transfers**<br>**At 31**<br>**August**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**111,252**<br>-<br>773,064<br>(790,918)<br>**-**<br>**93,398**<br>**-**<br>-<br>214,347<br>(214,347)<br>**-**<br>**-**<br>**-**<br>-<br>178,551<br>(178,551)<br>**-**<br>**-**<br>**-**<br>-<br>221,468<br>(221,468)<br>**-**<br>**-**<br>**-**<br>-<br>117,501<br>(117,501)<br>**-**<br>**-**<br>**-**<br>-<br>175,969<br>(175,969)<br>**-**<br>**-**<br>**-**<br>-<br>156,904<br>(156,904)<br>**-**<br>**-**<br>**-**<br>-<br>232,395<br>(232,395)<br>**-**<br>**-**<br>**1,730**<br>-<br>230,059<br>(231,789)<br>**-**<br>**-**<br>**-**<br>-<br>216,105<br>(216,105)<br>**-**<br>**-**<br>**38,978**<br>-<br>263,793<br>(230,410)<br>**-**<br>**72,361**<br>**-**<br>-<br>145,808<br>(145,808)<br>**-**<br>**-**<br>**45,413**<br>-<br>263,805<br>(258,333)<br>**-**<br>**50,885**<br>**-**<br>-<br>175,086<br>(175,086)<br>**-**<br>**-**<br>**-**<br>-<br>139,877<br>(139,877)<br>**-**<br>**-**<br>**-**<br>-<br>212,819<br>(212,819)<br>**-**<br>**-**<br>**-**<br>-<br>188,815<br>(188,815)<br>**-**<br>**-**<br>**-**<br>-<br>242,493<br>(242,493)<br>**-**<br>**-**<br>**154**<br>-<br>187,001<br>(187,155)<br>**-**<br>**-**<br>**-**<br>-<br>160,968<br>(160,968)<br>**-**<br>**-**<br>**-**<br>-<br>152,334<br>(152,334)<br>**-**<br>**-**<br>**35,284**<br>-<br>234,113<br>(252,218)<br>**-**<br>**17,179**<br>**-**<br>-<br>193,702<br>(193,702)<br>**-**<br>**-**<br>**-**<br>-<br>246,443<br>(246,443)<br>**-**<br>**-**<br>**-**<br>-<br>223,175<br>(223,175)<br>**-**<br>**-**<br>**-**<br>-<br>151,729<br>(151,729)<br>**-**<br>**-**<br>**-**<br>-<br>159,711<br>(159,711)<br>**-**<br>**-**<br>**-**<br>-<br>153,130<br>(153,130)<br>**-**<br>**-**<br>**-**<br>-<br>179,988<br>(179,988)<br>**-**<br>**-**<br>**-**<br>-<br>161,490<br>(161,490)<br>**-**<br>**-**<br>**-**<br>-<br>191,026<br>(191,026)<br>**-**<br>**-**<br>**-**<br>-<br>157,773<br>(157,773)<br>**-**<br>**-**<br>**-**<br>-<br>212,825<br>(212,825)<br>**-**<br>**-**<br>**-**<br>-<br>247,468<br>(247,468)<br>**-**<br>**-**<br>**18,014**<br>-<br>263,787<br>(239,707)<br>**-**<br>**42,094**<br>**-**<br>-<br>252,456<br>(252,456)<br>**-**<br>**-**<br>**-**<br>-<br>4,221<br>(4,221)<br>**-**<br>**-**<br>**-**<br>-<br>31,010<br>(31,010)<br>**-**<br>**-**<br>**-**<br>-<br>3,705<br>(3,705)<br>**-**<br>**-**<br>**-**<br>-<br>5,251<br>(5,251)<br>**-**<br>**-**<br>**-**<br>-<br>29,543<br>(29,543)<br>**-**<br>**-**|
|---|---|
||**250,825**<br>**-**<br>**7,751,708**<br>**(7,726,616)**<br>**-**<br>**275,917**|
||**2,979,616**<br>(1,324)<br>2,275,150<br>(1,755,256)<br>**-**<br>**3,498,186**<br>**882,376**<br>(47,219)<br>-<br>-<br>**-**<br>**835,157**<br>**134,849**<br>(988)<br>-<br>-<br>**-**<br>**133,861**<br>**753,669**<br>(77,095)<br>1,000,000<br>**-**<br>**1,676,574**|
||**4,750,510**<br>**(126,626)**<br>**3,275,150**<br>**(1,755,256)**<br>**-**<br>**6,143,778**|
|||
||**5,001,335**<br>**(126,626)**<br>**11,026,858**<br>**(9,481,872)**<br>**-**<br>**6,419,695**|



**40** 



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## **14. Movements in funds (continued)** 

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



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## **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 £165,340 restricted funds relating to the charity’s centres in Scotland, and £18,105 relating to funds raised specifically for the Manchester North centre. 

Restricted funds carried forward in Head Office are made up of: 

- £43,833 relating to the Big City, Bright Future programme 

- £19,343 relating to a fund in memory of Laura Duncalfe 

- £18,000 funding for student work placements 

- £12,222 relating to the Patrick Derham Scholarship. 

The charity holds a designated fund of £835,157 to provide the charity with additional financial security during its growth plan. The charity has an expendable endowment of £133,861 arising from legacies and donations made specifically for that purpose. The charity also has a permanent endowment of £1,676,574 to generate an ongoing income stream for the charity. 

## **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 2021: £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, was also the Chief Executive of The ClementJames Centre until January 2022. 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 £1,310,521 (year ended 31 August 2021: £139,347). 

At the year end, a balance of £1,820 was owed to The ClementJames Centre by the charity, and a balance of £7,287 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: 

|In less than one year<br>In two to five years<br>In more than five years|**2022**<br>**2021**<br>**£**<br>**£**<br>542,584      429,441<br>832,721      682,660<br>1,986<br>-<br>**1,377,291    1,112,101**<br>**Land and buildings**|**2022**<br>**2021**<br>**£**<br>**£**<br>15,992        13,201<br>14,391        21,850<br>-                 -<br>**Office Equipment**|
|---|---|---|
|||**30,383        35,051**|



## **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 11 members at 31 August 2022 (2021: 11). 

## **20. Comparative Statement of Financial Activities (2021):** 

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



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