| Reports | |||
|---|---|---|---|
| Reference and administrative | information | ||
| Trustees' report |
|||
| Independent auditor's |
report | 17 | |
| Financial statements | |||
| Statement offinancial | activities | 22 | |
| Balance sheet | 23 | ||
| Statement ofcash flows | 24 | ||
| Notes to the financial | statements | 25 |
| Directors | and charity | and charity | Trustees | Kymberlie Andrew |
Kymberlie Andrew |
||||
|---|---|---|---|---|---|---|---|---|---|
| Saeed Atcha (appointed | 17Oct 2022) | ||||||||
| Rod Bristow | |||||||||
| David Cruickshank | (Chair) | ||||||||
| Professor David | Docherty | OBE | |||||||
| lan Ferguson | |||||||||
| Nicola Freeman | (appointed | 1 July 2022) | |||||||
| Karen Giles | |||||||||
| Dame Joan McVittie | (resigned | 7 Sept | |||||||
| 2021) | |||||||||
| Professor Sir Steve | Smith | ||||||||
| Chief Executive | Nick Chambers | ||||||||
| Registered | office | Quantum House 22-24 Red Lion Court |
|||||||
| Fleet Street | |||||||||
| London | |||||||||
| England | |||||||||
| EC4A 3EB | |||||||||
| Company | registration | number | 06886359 (England | and Wales) | |||||
| Charity registration | number | 1130760 | |||||||
| Registered | name | Education and Employers |
Taskforce | ||||||
| Auditor | Buzzacott LLP | ||||||||
| 130Wood Street | |||||||||
| London | |||||||||
| EC2V 6DL | |||||||||
| Bankers | The Cooperative | Bank | |||||||
| PO Box101 | |||||||||
| Balloon Street | |||||||||
| Manchester | |||||||||
| M60 4EP | |||||||||
| Freshfields Bruckhaus |
Deringer | ||||||||
| 65 Fleet Street | |||||||||
| London | |||||||||
| EC4Y 1HS |
| Unrestricted | Restricted | 31March | 31March | |||
|---|---|---|---|---|---|---|
| Notes | funds | funds | 2022 | 2021 | ||
| f | f | f | E | |||
| Income from: | ||||||
| Donations and legacies |
25,005 | 25,005 | 58,050 | |||
| Charitable activities |
52,083 | 1,172,497 | 1,224,580 | 1,571,758 | ||
| Investments | 153 | 153 | 341 | |||
| Other sources | 10,000 | |||||
| Total income | 77,241 | 1,172,497 | 1,249,738 | 1,690,149 | ||
| Ex enditure on: | ||||||
| Charitable activities |
||||||
| Research | 414 | 25,424 | 25,838 | 72,158 | ||
| Inspiring the future | 13,370 | 1,278,968 | 1,292,338 | 1,599,231 | ||
| iCould | 48,474 | 48,474 | 60,878 | |||
| Total expenditure | 62,258 | 1,304,392 | 1,366,650 | 1,732,267 | ||
| Net income/(expenditure) | for the | 14,983 | (131,895) | (116.912) | (92,118) | |
| year | ||||||
| Transfer between funds | (19,023) | 19,023 | ||||
| Net movements in funds |
(4,040) | (112,872) | (116,912) | (92,118) | ||
| Reconciliation offunds: |
||||||
| Total funds at April 2021 | 37,317 | 527,816 | 565,133 | 657,251 | ||
| Total funds at31March | 2022 | 33,277 | 414,944 | 448,221 | 565,133 |
| Research | Inspiring | iCould | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| the | 2022 | 2021 | ||||||
| future | ||||||||
| E | ||||||||
| Staff costs | 4,338 | 480,772 | 485,110 | 688,266 | ||||
| Other direct | costs | 5,244 | 285,928 | 48,474 | 339,646 | 364,552 | ||
| Depreciation | and | 38 | 1,244 | 1,282 | 1,234 | |||
| impairment | ||||||||
| 9,620 | 767,944 | 48,474 | 826,038 | 1,054,055 | ||||
| Share ofsupport costs | 15,843 | 512,269 | 528,112 | 666,962 | ||||
| (see note 8) | ||||||||
| Share ofgovernance | 375 | 12,125 | 12,500 | 11,250 | ||||
| costs (see note 8) | ||||||||
| 25,838 | 1,292,338 | 48,474 | 1,366,650 | 1,732,267 | ||||
| Analysis by fund: |
||||||||
| Forthe year | ended 31 | |||||||
| March 2022 | ||||||||
| ' | ||||||||
| Unrestricted | funds | 414 | 13,370 | 48,474 | 62,258 | |||
| Restricted funds | 25,424 | 1,278,968 | 1,304,392 | |||||
| 25,838 | 1,292,338 | . | 48,474 | 1,366,650 | ||||
| Forthe year | ended 31 | |||||||
| March 2021 | ||||||||
| Unrestricted | funds | 27,879 | 12,112 | 73,366 | ||||
| Restricted funds | 132,352 | 1,587,119 | 1,658,901 | |||||
| 160,231 | 1,599,231 | 1,732,267 |
| Support | Governance | Total | Total | ||
|---|---|---|---|---|---|
| costs | costs | 2022 | 2021 | ||
| E | f | f | |||
| Staff | costs | 378,808 | 378,808 | 429,019 | |
| Other | costs | 149,304 | 149,304 | 237,943 | |
| Audit | fees | 10,000 | 10,000 | 4,250 | |
| Legal | and professional | 2,500 | 2,500 | 7,000 | |
| 528,112 | 12,500 | 540,612 | 678,212 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Net movement | in funds | isstated after charging | E | E |
| Fees payable to | the charity's auditor |
10,000 | 8,750 | |
| Depreciation on |
tangible | fixed assets | 1,282 | 1,237 |
| Operating lease |
charges | 25,073 | 50,060 |
| The average | monthly number employees during th |
e year was: | |
|---|---|---|---|
| 2022 | 2021 | ||
| Number | Number | ||
| f | E | ||
| Research | 1 | 2 | |
| Inspiring the | future | 19 | 17 |
| Other support staff | 5 | 10 | |
| 25 | 29 | ||
| Employment | costs | ||
| 2022 | 2021 | ||
| E | E | ||
| Wages and salaries | 779,580 | 971,960 | |
| Social security costs | 76,376 | 94,674 | |
| Other pension costs | 42,339 | 50,651 | |
| 898,295 | 1,117,285 |
| Th | e n | umber | of employees whose annual remuneration |
was f60,000or more were: | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Number | Number | ||||
| In | the | band | f60,001 —f70,000 | ||
| In | the | band | f70,001 —f80,000 | ||
| In | the | band | f80,001—E90,000 |
| Furniture, | ||||||
|---|---|---|---|---|---|---|
| fittings and | ||||||
| equi pinent f |
||||||
| Cost | ||||||
| At 1April 2021 | 49,759 | |||||
| Additions | ||||||
| At 31March | 2022 | 49,759 | ||||
| Depreciation | ||||||
| At 1April 2021 | 48,350 | |||||
| Charge for the year | 1,282 | |||||
| At 31March | 2022 | 49,632 | ||||
| Net book value | ||||||
| At 31March | 2022 | 127 | ||||
| At 31March | 2021 | 1,409 | ||||
| 13 | Debtors | |||||
| 2022 | 2021 | |||||
| Amounts falling due |
within one year: | f | f | |||
| Trade debtors | 19,560 | 93,800 | ||||
| Other debtors | ||||||
| Prepayments | and accrued income | 32,988 | 30,077 | |||
| 52,548 | 123,877 | |||||
| 14 | Creditors: amounts | falling due within one year | ||||
| 2022 | 2021 | |||||
| f | f | |||||
| Trade creditors | 15,751 | 77,473 | ||||
| Other taxation | and social security | 74.371 | 68,621 | |||
| Other creditors | 6,261 | 8,227 | ||||
| Accruals and deferred | income | 181,135 | 39,160 | |||
| 277,518 | 193,481 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| E | E | ||||||
| Deferred | income at | 1April 2021 | 3,623 | ||||
| Incoming | resources | received | requiring | deferment | 135,000 | 3,623 | |
| Release | of incoming | resources | during | the year | (3,623) | ||
| Deferred | income at | 31March | 2022 | 135,000 | 3,623 |
| Movement in funds |
|||||||
|---|---|---|---|---|---|---|---|
| Balance | Income | Expenditure | Transfer | Balance at | |||
| at 1April | 31March | ||||||
| 2021 | 2022 | ||||||
| E | E | E | E | E | |||
| Research | 6,401 | (25,424) | 19,023 | ||||
| Inspiring | the | future | 527,816 | 1,166,096 | (1,278,968) | 414,944 | |
| 527,816 | 1,172,497 | (1,304,392) | 414,944 | ||||
| Movement in funds |
|||||||
| Balance | Income | Expenditure | Transfer | Balance at | |||
| at 1April | 31March | ||||||
| 2020 | 2021 | ||||||
| E | E | E | E | E | |||
| Research | (99,579) | 25,000 | (71,782) | 146,361 | |||
| Inspiring | the | future | 628,544 | 1,486,391 | (1,587,119) | 527,816 | |
| 528,965 | 1,511,391 | (1,658,901) | 146,361 | 527,816 |
| Movement in funds |
||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Income | Expenditure | Transfer | Balance at 31 | ||
| April 2021 | March 2022 | |||||
| E | E | E | E | E | ||
| General | unrestricted | 18,071 | 77,241 | (62,258) | (19,023) | 14,031 |
| 18,071 | 77,241 | (62,258) | (19,023) | 14,031 | ||
| Movement in funds |
||||||
| Balance at 1 | Income | Expenditure | Transfer | Balance at 31 | ||
| April 2020 | March 2021 | |||||
| E | E | E | E | |||
| General | unrestricted | 108,861 | 128,758 | (73,187) | 18,071 | |
| 108,861 | 128,758 | (73,187) | 18,071 |
| f unrestricted | funds by t | he Trustees for specific pu | rposes: | ||
|---|---|---|---|---|---|
| Movement | in funds | ||||
| Balance at | Income | Expenditure | Balance at | ||
| 1April 2021 | 31March 2022 | ||||
| E | E | E | E | ||
| Staff personal | 19,246 | 19,246 | |||
| development | fund | ||||
| 19,246 | 19,246 | ||||
| Movement | in funds | ||||
| Balance at | Income | Expenditure | Balance at | ||
| 1April 2020 | 31March 2021 | ||||
| E | E | ||||
| Staff personal | 19,425 | (179) | 19,246 | ||
| development | fund | ||||
| 19,425 | (179) | 19,246 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | funds | 2022 | ||
| f | f | E | ||
| Fund balances at 31March 2022 are represented | by: | |||
| Tangible assets | 127 | 127 | ||
| Net current assets | 33,150 | 414,944 | 448,094 | |
| 33,277 | 414,944 | 448,221 | ||
| Unrestricted | Restricted | Total | ||
| fund | funds | 2021 | ||
| f | f | f | ||
| Fund balances at 31March 2021are represented | by: | |||
| Tangible assets | 1,409 | 1,409 | ||
| Current assets | 283,208 | 280,516 | 563,724 | |
| 284,167 | 280,516 | 565,133 |
| 2022 | 2021 | |
|---|---|---|
| f | E | |
| Within one year | 4,356 | 25,073 |
| Between one and five years | 4,356 | |
| 4,356 | 29,429 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| f | f | ||||
| Deficit for the year | (116,912) | (92,118) | |||
| Adjustments for: |
|||||
| Interest receivable | (153) | (341) | |||
| Depreciation oftangible |
fixed assets | 1,282 | 1,237 | ||
| Movements in workings |
capital: | ||||
| Decrease/(Increase) | in debtors | 71,329 | (42,282) | ||
| Decrease in creditors | 84,037 | 2,545 | |||
| Cash provided by/(used |
in) operating | activities | 39,583 | (130,959) |