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← Youth Careers Collective

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 07409565 (England and Wales) REGISTERED CHARITY NUMBER: 1138697

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

HOUNSLOW EDUCATION BUSINESS CHARITY

HOUNSLOW EDUCATION BUSINESS CHARITY

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 26
Detailed Statement of Financial Activities 27 to 28

HOUNSLOW EDUCATION BUSINESS CHARITY

Reference and Administrative Details for the Year Ended 31 March 2025

TRUSTEES

Christopher Paterson (resigned 1.7.25) David Scott (resigned 1.7.25) Joseph Skelton Margaret Tse (resigned 4.4.24) Sadia Rahman (resigned 20.11.24) Kelvin Zhang Susan Swabey (Chair) Sharan Phull (appointed 10.10.24) Keren Segal (appointed 10.10.24) Timothy Woodthorpe (appointed 21.1.25)

COMPANY SECRETARY Matthew Lent REGISTERED OFFICE Venture X 1 Ariel Way London W12 7SL REGISTERED COMPANY 07409565 (England and Wales) NUMBER

REGISTERED CHARITY NUMBER 1138697

INDEPENDENT EXAMINER Knox Cropper LLP Chartered Accountants Office Suite 1 Haslemere House Lower Street Haslemere Surrey GU27 2PE

Page 1

HOUNSLOW EDUCATION BUSINESS CHARITY

Report of the Trustees for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity's objects are to advance the education of the public, in particular but not exclusively young people, pupils and students in the London Borough of Hounslow, by the provision of advice and guidance in relation to careers, training and personal development opportunities with the object of improving their employability and to enable them to reach their full potential so they will be better prepared for adult and working life.

Our vision

A society in which all young people are ready, equipped, motivated and able to enter the world of work.

Our mission

To ensure all young people, particularly those who will most benefit, have access to meaningful employer engagement, work readiness skills development, and employment opportunities, enabling them to transition into sustained work and rewarding careers'.

Public benefit

The Trustees confirm that they have considered the general guidance issued by the Charity Commission in connection with public benefit in setting the objectives of the charity and in particular they have considered how planned activities further the charity's objects.

The charity benefits the public by providing work experience, employability programmes and careers guidance to young people, as described in the achievements and performance section.

Page 2

HOUNSLOW EDUCATION BUSINESS CHARITY

Report of the Trustees for the Year Ended 31 March 2025

ACHIEVEMENTS AND PERFORMANCE

2024/25 was a year of continued growth for the charity, as we maintain our objective to respond to a higher need and demand for our services, whilst simultaneously directing services and support where they are most needed.

We have expanded our strategic corporate partnership programmes, growing existing partnership programmes with SEGRO, GSK, Heathrow, Notting Hill Genesis and Peabody Housing Association, as well as with the London Borough of Hounslow, the London Borough of Ealing and the London Borough of Brent. In addition, we have grown our income from Trust and Foundation grants, including grants from CHK Foundation, John Lyons Charity, Swire Foundation, Children in Need and Inspire Hounslow.

We have continued to develop our targeted and long-term engagement approach, prioritising resources where they would be most beneficial. In 2024/25 we have continued to deliver our partnership with Woodbridge Park Education Service for young people in Alternative Provisions and have grown our delivery with Special Schools and with young people with Special Educational Needs and Disabilities in mainstream schools. Further, in partnership with the London Borough of Hounslow we engaged and supported a cohort of young people with experience of local authority care, to develop their work experience and employability skills.

In the penultimate year of our current strategy, we have successfully built local collective practice across sectors, through our Youth Employability Partnerships in Brent and Ealing, our fully funded Way to Work programme in Barnet and Harrow, and alongside other cross-sector collaborations with local Councils, education institutions, employers and voluntary sector organisations.

During the year we worked with 6377 young people, an increase of 19% from the previous year. 26% of these young people had more than one engagement with our delivery, with 15% having 3 or more engagements. 52% of the young people we worked with were male and 48% female, 33% have Free School Meals, 56% have English as an Additional Language and 20% have Special Educational Needs and Disabilities. For the first time this year we tracked the ethnicity of the young people with who we worked. 76% of all of our delivery was with young people from ethnic minority or black communities, (36% come from an Asian background, 26% were white, 19% are black, 8% are from an Arab background, 7% from a mixed ethnicity, 4% from another ethnic minority.

We delivered our services with young people from 70 schools, from across 12 London Boroughs. These activities included 833 work experience placements, 238 employer engagement and employability skills development in-school workshops, 81 industry insight visits and 9 career mentoring programmes.

Our delivery has been supported by 1027 volunteers from 455 employers over the year, representing 25 different sectors. Of these employers, 51% were small or micro-organisations, 7% were medium and 37% were large employers. 288 employers hosted one or more work placement students, 448 employer volunteers participated in in-school employer engagement activities and 156 volunteered as career mentors. A further 209 employers hosted students on workplace insight visits. In total, employer volunteers gave 17,671 hours of their time to support the work of the charity.

The impact of the charity's work against objectives is assessed through a combination of surveys, focus-groups, observation, case studies and reporting from partner organisations and young people.

Following workplace insight visits (Kickstart Express), 83% of young people stated that they have now know of ‘at least two different jobs they aspire to do’ , increasing from 52% before,78% say they now ‘know what to do and say in a job interview’ compared to 57% before and 83% state they ‘feel equipped to achieve their career goals’ , compared to 64% beforehand.

Page 3

HOUNSLOW EDUCATION BUSINESS CHARITY

Report of the Trustees for the Year Ended 31 March 2025

Following our Work Experience programme (The Way to Work), 83% of young people agreed they ‘feel confident applying for a job they want’ , an increase from 60% before, with 76% of young people agreeing that they have an ‘understanding of career opportunities’ compared to just 39% before. Further, upon completion of their work experience, 84% of young people say they ‘feel confident speaking with adults in a work environment’ compared to 64% before and 65% now ‘know at least 2 people in a job they aspire to’, compared to just 33% before their work experience.

However, our data shows, that the biggest impact is felt through programmes that incorporate multiple and varied employer and workplace engagement opportunities. Our ‘Pathways Partnership Programmes’, in 2024/25 delivered with GSK, SEGRO, Notting Hill Genesis, Peabody and Heathrow, includes employer engagement and employability skills workshops, workplace visits, one-to-one career mentoring and work experience. After the programme 91% of young people said they are very ‘confident they can succeed in a job’ compared to 67% beforehand, 75% had an understanding of career opportunities, growing from 34% prior to the programme, and 85% stated they ‘know people in jobs they aspire to’ , at the end of the programme, compared to just 26% before. Further, 85% ‘ know how to complete a job application’ and 90% ‘know what to do and say in a job interview’ , compared to 61% and 59% respectively before.

In addition to our programmatic delivery, we have also continued delivery of successful events. In addition to a highly successful annual awards attended by over 200 people, we also convened 220 partners and stakeholders for the second 'West London Youth Careers Summit', in partnership with West London Business, West London Careers Hub and West London Alliance. The event was sponsored by the Mayor of London, Youth Futures Foundation and Heathrow. We brought together cross-sector organisations, including from education, public sector, local employers and voluntary sector service providers. Hosted in Clayton Hotel, Chiswick, delegates explored the challenges of youth employment and the local skills gap, exploring solutions, developing collaborations and agreeing actions. The conference resolved to establish a Youth Employment Roadmap, with the objective of significantly reducing youth unemployment and boosting the local economy, across west London.

STAFFING

During the year we expanded our team with two new Coordinators, Omba Okandju and Toren Scott, and appointed a new Special Educational Needs and Disabilities Programme Manager – Charmaine Esprit, replacing Eva Butterworth. Further, our Internship placement young person - Ayana Khan, has joined us on a permanent basis, as our Communications and Events Coordinator. No staff have left in 2024/25.

FINANCIAL REVIEW

Financial position

The charity has been able to maintain a healthy financial position. During this period of growth, we have seen income increase by more than 29% to £887,024. Staffing and expenditure have grown at a commensurate rate to £850,339, resulting in a surplus of £36,685 for the year.

The future of income streams however remains somewhat uncertain, with funding applications being more competitive than ever, however a growth in the number and size of multi-year corporate partnerships, grants, council contracts and traded services has resulted in increased financial sustainability than previous years.

The Trustees' approach to reserves reflects the aim of keeping Hounslow Education Business Charity secure for the future by continuing to deliver annual programmes, whilst building its activity, profile and influence.

Reserves policy

As a consequence of posting a small surplus of £36,685 we have seen reserves, being unrestricted funds excluding fixed assets, increase to £293,273 which is all unrestricted. The trustees consider the reserve levels are still sufficient to ensure that the charity is able to enable the delivery of its projects, whilst also keeping costs to schools as low as possible, and if necessary, the trustees would be able to arrange an orderly winding down of the charity's affairs, whereby all its financial responsibilities and obligations would be honoured.

Page 4

HOUNSLOW EDUCATION BUSINESS CHARITY

Report of the Trustees for the Year Ended 31 March 2025

FUTURE PLANS

Over the course of the next year the charity will increase its focus on working with young people with the most significant barriers to employment, including those with low attainment outcomes, young people attending Alternative Provisions, those with Special Educational Needs and Disabilities, care experienced young people and other barriers. The charity will also continue to develop its long-term interventions, working in partnership with funders, employers, councils and the voluntary youth sector to engage and support target young people over extended periods of time and to support transitions into employment. We will be working to grow the reach and impact of our Work Experience Programme - 'The Way to Work' and our impactful multi-stage ‘Pathways Partnerships Programme’, incorporating career mentoring, and enhancement of digital resources to further improve the impact and longevity of the work.

Further the charity will continue to build cross-sector collaborations to drive systemic and place-based change, creating powerful partnerships and alliances between businesses and the education sector. In 2025/26 we will work to establish a Youth Employment Roadmap, providing clear guidance and access to support for organisations across sectors to collaborate on driving down youth unemployment across west London.

We will continue to meet the needs of schools and young people in Hounslow, primarily through the council’s Youth Skills and Employment Guarantee programme until it's conclusion in August 2026. Simultaneously we will continue to expand our reach, deepen our impact, and establish embedded services across the west London boroughs of Barnet, Brent, Ealing, Hammersmith and Fulham, Harrow and Hillingdon.

2025 will bring the end of our current strategic period, and we will be developing and implementing a new strategy, with a focus on, increasing our reach, targeting our support, deepening our impact and influencing change, across west London and beyond, targeting regions with unmet youth employment needs and service gaps. In addition to a new strategy the charity will undertake a comprehensive staffing restructure in order to develop the infrastructure and internal expertise and capacity required to implement our new ambitious strategy.

Finally, the charity will be undergoing a full rebrand and name change, to raise our profile, create clarity on our purpose and better position us as a leading provider of dynamic and impactful youth employment services, driving more partnerships and cross-sector collective approaches.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Hounslow Education Business Charity (trading as 'Spark!') is a company limited by guarantee with no share capital incorporated on 15th October 2010 and governed by its Memorandum and Articles of Association dated 27th August 2010.

Appointment of new trustees

Recruitment of Trustees is carried out through wide reaching advertisement, long-listing of candidates, two rounds of interviews, and subsequent election by the Board of Trustees. In the past year we have focused on diversifying our Board and the recruitment of Trustees under 25 years of age, in order to ensure our Board is representative of the communities we service.

Margaret Tse resigned on the 4[th] April 2024, Sadia Rahman resigned on the 20[th] November 2024. Sharan Phull and Keren Segal were appointed to the Board on the 10[th] October 2024 and Timothy Woodthorpe was appointed on the 21[st] January 2025. Chris Paterson and David Scott completed their maximum terms as Trustees and stepped down on the 1[st] July 2025.

Organisational structure

The Board of Trustees administers the charity. The Board meets on at least a quarterly basis. The day-to-day operations of the charity are administered by the Charity Executive. To facilitate effective operations, senior staff members have delegated authority, approved by the Trustees, for operational matters including finance.

Page 6

HOUNSLOW EDUCATION BUSINESS CHARITY

Report of the Trustees for the Year Ended 31 March 2025

The Board has a Finance sub-committee that reviews the organisation’s finances quarterly.

Induction and training of new trustees

New trustees are provided with detailed information on their legal obligations under charity law and what the role will entail. Their training needs will be assessed, and training provided if required. In addition, new Trustees will be provided with copies of:

New trustees are introduced to fellow Board members and to senior staff. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Risk management

The Trustees have identified the risks to which the Charity might be exposed, including risks to the Charity's financial position and reputation. Systems are being established to address these risks. The Trustees, going forward, will review risk management on an annual basis.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ...14/10/25............... and signed on its behalf by:

.................................................................... Susan Swabey (Chair) - Trustee

Page 6

Independent Examiner's Report to the Trustees of Hounslow Education Business Charity

Independent examiner's report to the trustees of Hounslow Education Business Charity ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

This report is made to the Trustees, as a body, in accordance with the terms of my engagement. Our work has been undertaken so that we might carry out an Independent Examination of the financial statements in accordance with the General Directions given by the Charity Commissioners. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees, as a body, for our work or for this report.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

James Holland-Leader FCA

Knox Cropper LLP Chartered Accountants Office Suite 1 Haslemere House Lower Street Haslemere Surrey GU27 2PE

Date: .............................................

Page 7

HOUNSLOW EDUCATION BUSINESS CHARITY

Statement of Financial Activities

(Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
3
Employability & Enterprise Skills
Work Experience
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Employability & Enterprise Skills
Work Experience
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
53,200
132,201
74,436
259,837
36,222
128,012
58,918
223,152
36,685
260,212
296,897		 Restricted
funds
£
-
398,655
228,532
627,187
-
398,655
228,532
627,187
-
-
-		 2025
Total
funds
£
53,200
530,856
302,968
887,024
36,222
526,667
287,450
850,339
36,685
260,212
296,897		 2024
Total
funds
£
20,000
464,947
202,527
687,474
26,011
442,231
184,209
652,451
35,023
225,189
260,212

The notes form part of these financial statements

Page 8

HOUNSLOW EDUCATION BUSINESS CHARITY

Balance Sheet 31 March 2025

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
16
Unrestricted funds
TOTAL FUNDS		 2025
£
3,624
77,583
387,533
465,116
(171,843)
293,273
296,897
296,897
296,897
296,897		 2024
£
4,259
83,849
363,560
447,409
(191,456)
255,953
260,212
260,212
260,212
260,212

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 9

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Balance Sheet - continued 31 March 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on .....14/10/25......... and were signed on its behalf by:

............................................. Susan Swabey (Chair) - Trustee

The notes form part of these financial statements

Page 10

HOUNSLOW EDUCATION BUSINESS CHARITY

Cash Flow Statement for the Year Ended 31 March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2025
£
25,144
25,144
(1,171)
(1,171)
23,973
363,560
387,533		 2024
£
160,018
160,018
(2,213)
(2,213)
157,805
205,755
363,560

The notes form part of these financial statements

Page 11

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Cash Flow Statement for the Year Ended 31 March 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2025 2024
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 36,685 35,023
Adjustments for:
Depreciation charges 1,806 1,342
Decrease in debtors 6,266 19,266
(Decrease)/increase in creditors (19,613) 104,387
Net cash provided by operations 25,144 160,018
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank
Total		 At 1.4.24
Cash flow
At 31.3.25
£
£
£
363,560
23,973
387,533
363,560
23,973
387,533
363,560
23,973
387,533

The notes form part of these financial statements

Page 12

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. They have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) Second Edition issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The presentation currency of the financial statements is the Pound Sterling (£). The Charity constitutes a public benefit entity as defined by FRS 102.

The accounts have been prepared to give a 'true and fair view' and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) Second Edition issued in October 2019 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Critical accounting judgements and key sources of estimation uncertainty

The following are the critical judgements and key sources of estimation uncertainty that the Board has made in the process of applying the charity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements:

Income received for arranging and administering work experience placements to secondary school students: Due to the process for arranging the placements consisting of an indeterminate number of acts over a specified period of time, the charity recognises revenue on a straight-line basis over the specified period. In the absence of evidence that some other method better represents the stage of completion, this is deemed consistent with the recognition criteria of FRS 102.

Going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements. The trustees of the Charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern.

Income

Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount receivable can be measured reliably. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or the donor has specified that the income has to be spent in a future period.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Costs that relate directly to charitable activities or fund-raising activities of the Charity are charged to those activities. All other expenses are allocated on the basis of time spent by staff on the various activities.

Page 13

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES - continued

Expenditure

Governance costs include the costs of administering the Charity as a legal entity and include costs of Trustees meetings, Independent Examination fees, and other statutory costs allocated to support costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

Taxation

The charity is exempt from corporation tax on its charitable activities. The Charity is also not registered for VAT and accordingly, where applicable, all costs and expenditures incurred are inclusive of VAT.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

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

Cash at bank and in hand

Cash 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.

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 settled 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.

Financial instruments

The charity 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.

Page 14

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

2. DONATIONS AND LEGACIES

Donations
Grants
Grants received, included in the above, are as follows:
Garfield Weston Foundation
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Schools Employability and
Enterprise Skills
Employability & Enterprise Skills
Schools work experience
Employability & Enterprise Skills
Grants
Employability & Enterprise Skills
Corporate memberships
Employability & Enterprise Skills
Schools Employability and
Enterprise Skills
Work Experience
Schools work experience
Work Experience
Grants
Work Experience
Corporate memberships
Work Experience
Grants received, included in the above, are as follows:
Heathrow Community Fund
London Borough of Hounslow
Inspire Hounslow
GlaxoSmithKline
Jacobs Engineering
Segro UK
Peabody Community Foundations
Heathrow Airport
Children In Need
Young Eailing Foundation
Swire Foundation
Carried forward		 2025
£
53,200
-
53,200
2025
£
-
2025
£
146,875
77,201
306,780
-
191,049
82,919
29,000
-
833,824
2025
£
13,000
39,420
20,000
-
-
84,618
12,559
60,183
22,000
4,000
30,000
285,780		 2024
£
20,000
20,000
2024
£
20,000
2024
£
138,380
54,744
170,345
101,478
61,800
49,686
10,000
81,041
667,474
2024
£
47,996
-
20,000
10,000
12,000
84,349
6,000
-
-
-
-
180,345

Page 15

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

3. INCOME FROM CHARITABLE ACTIVITIES - continued

Brought forward
CHK Foundation
4.
RAISING FUNDS
Raising donations and legacies
Staff costs
5.
CHARITABLE ACTIVITIES COSTS
Employability & Enterprise Skills
Work Experience
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Sundries
Core services costs
Spark! Annual Awards
Office Retail Skills Hub
Travelling		 Direct
Costs (see
note 6)
£
474,738
274,438
749,176		 2025
£
285,780
50,000
335,780
2025
£
36,222
Support
costs (see
note 7)
£
51,929
13,012
64,941
2025
£
624,518
9,111
58,414
19,477
26,596
11,060
749,176		 2024
£
180,345
-
180,345
2024
£
26,011
Totals
£
526,667
287,450
814,117
2024
£
529,265
4,855
2,755
17,298
-
7,301
561,474

Page 16

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

7.
SUPPORT COSTS
Governance
Management
costs
£
£
Employability & Enterprise Skills
49,749
2,180
Work Experience
13,012
-
62,761
2,180
Support costs, included in the above, are as follows:
2025
Employability
& Enterprise
Work
Total
Skills
Experience
activities
£
£
£
Accountancy
7,254
-
7,254
Insurance
6,937
5,314
12,251
IT support
11,484
-
11,484
Telephone
3,019
-
3,019
Postage and stationery
7,261
47
7,308
Legal, professional & HR
1,770
3,921
5,691
Recruitment & training
9,583
1,170
10,753
Subsistence & entertaining
328
2,560
2,888
IT support
69
-
69
Bank charges & sundries
237
-
237
Depreciation of tangible and heritage
assets
1,807
-
1,807
Independent examination
2,180
-
2,180
51,929
13,012
64,941		 Totals
£
51,929
13,012
64,941
2024
Total
activities
£
5,824
7,599
8,981
2,030
2,977
11,831
17,564
4,483
-
245
1,342
2,090
64,966

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025 2024
£ £
Depreciation - owned assets 1,806 1,342

Page 17

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
£
585,728
56,295
18,717
660,740		 2024
£
494,432
43,133
17,710
555,275

Key Management Personnel is defined as the Charity Director and the Trustees. Remuneration and benefits, representing salary, national insurance and pension contributions, payable to Key Management Personnel during the year amounted to £90,124 (2023: £88,750).

The average monthly number of employees during the year was as follows:

Raising Funds
Charitable Activities		 2025
-
16
16		 2024
2
11
13

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£70,001 - £80,000
£80,001 - £90,000		 2025
-
1
1		 2024
1
-
1

Page 18

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
20,000
Charitable activities
Employability & Enterprise Skills
79,896
Work Experience
47,436
Total
147,332
EXPENDITURE ON
Raising funds
26,011
Charitable activities
Employability & Enterprise Skills
57,180
Work Experience
29,118
Total
112,309
NET INCOME
35,023
Transfers between funds
48,750
Net movement in funds
83,773
RECONCILIATION OF FUNDS
Total funds brought forward
176,439
TOTAL FUNDS CARRIED FORWARD
260,212		 Restricted
funds
£
-
385,051
155,091
540,142
-
385,051
155,091
540,142
-
(48,750)
(48,750)
48,750
-		 Total
funds
£
20,000
464,947
202,527
687,474
26,011
442,231
184,209
652,451
35,023
-
35,023
225,189
260,212

Page 19

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

12. TANGIBLE FIXED ASSETS

COST
At 1 April 2024
Additions
At 31 March 2025
DEPRECIATION
At 1 April 2024
Charge for year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Accruals and deferred income

2025
£
60,179
10,772
6,632
77,583
2025
£
11,733
15,614
144,496
171,843		 Computer
equipment
£
23,745
1,171
24,916
19,486
1,806
21,292
3,624
4,259
2024
£
79,504
-
4,345
83,849
2024
£
11,502
14,345
165,609
191,456

Page 20

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Current liabilities
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS		 Unrestricted
funds
£
3,624
259,225
34,048
296,897		 Restricted
funds
£
-
205,891
(205,891)
-
At 1.4.24
£
260,212
260,212		 2025
Total
funds
£
3,624
465,116
(171,843)
296,897
Net
movement
in funds
£
36,685
36,685		 2024
Total
funds
£
4,259
447,409
(191,456)
260,212
At
31.3.25
£
296,897
296,897

16. MOVEMENT IN FUNDS

Page 21

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Inspire Hounslow
London Borough of Hounslow
Heathrow Community Fund
GlaxoSmithKline
Segro UK
Notting Hill Genesis
Cisco
Peabody Community Foundation
John Lyons
West London College
West London Business
Heathrow Airport
London Borough of Brent
London Borough of Ealing
Children In Need
Young Ealing Foundation
Jack Petchey Foundation
Mace Ltd
Unibail Rodamco Westfield
Youth Future Foundations
TOTAL FUNDS		 Incoming
resources
£
259,837
20,000
39,420
13,000
99,838
84,618
19,747
13,750
12,559
127,500
28,550
10,000
60,183
13,290
24,999
22,000
4,000
19,733
2,000
2,000
10,000
627,187
887,024		 Resources
expended
£
(223,152)
(20,000)
(39,420)
(13,000)
(99,838)
(84,618)
(19,747)
(13,750)
(12,559)
(127,500)
(28,550)
(10,000)
(60,183)
(13,290)
(24,999)
(22,000)
(4,000)
(19,733)
(2,000)
(2,000)
(10,000)
(627,187)
**(850,339) **		 Movement
in funds
£
36,685
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
36,685

Page 22

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
CAF
TOTAL FUNDS		 At 1.4.23
£
176,439
48,750
225,189		 Net
movement
in funds
£
35,023
-
35,023		 Transfers
between
funds
£
48,750
(48,750)
-		 At
31.3.24
£
260,212
-
260,212

Page 23

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Garfield Weston Foundation
Restricted funds
Other
Inspire Hounslow
London Borough of Hounslow
Heathrow Community Fund
GlaxoSmithKline
West London Zone
Ealing and Hounslow Community
Voluntary service
Jacobs Engineering
Segro UK
Notting Hill Genesis
Cisco
SYNC (Young Hammersmith and
Fulham Foundation Consortium)
Flourishing Future
Peabody Community Foundation
John Lyons
Ealing ELS
Football Association
TOTAL FUNDS		 Incoming
resources
£
127,332
20,000
147,332
12,250
20,000
22,283
47,996
68,966
15,753
9,300
12,000
84,349
19,100
12,075
79,449
38,221
6,000
52,500
24,999
14,900
540,141
687,473		 Resources
expended
£
(92,309)
(20,000)
(112,309)
(12,250)
(20,000)
(22,283)
(47,996)
(68,966)
(15,753)
(9,300)
(12,000)
(84,349)
(19,100)
(12,075)
(79,449)
(38,221)
(6,000)
(52,500)
(24,999)
(14,900)
(540,141)
(652,450)		 Movement
in funds
£
35,023
-
35,023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
35,023

Heathrow Community Fund

This fund consists of grants received to support the costs of delivering the Kickstart programme, together with related work experience. Additionally a grant was received to fund a project on SEND students.

Inspire Hounslow Fund

This consists of funds received from Inspire Hounslow and has been used to meet the costs of delivering the Connect mentoring programme.

London Borough of Hounslow Fund

This consists of funds received from the London Borough of Hounslow to offer a work experience programme to secondary schools currently not offering such a programme to their students.

Notting Hill Genesis Housing Association Fund

Page 24

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS - continued

This consists of funds received from NGHA and has been used to meet the costs of delivering the Connect mentoring programme.

Ealing and Hounslow Community Voluntary Service Fund

This consists of funds to set and organise the "My London: Enabling Youth Social Action" project.

Charities Aid Foundation (CAF) Fund

This consists of funds received from CAF and is for charitable purposes only to cover specific project and resilience costs

GlaxoSmithKline

This consists of funds received for career mentoring and Annual Awards sponsorship.

Segro UK

This consists of funds in aid of the West London Careers and Employability programme, including mentoring.

Cisco

This consists of funds received from Cisco and has been used to support the work experience programme.

Drapers

This consists of funds from Drapers in respect of career mentoring.

Flourishing Futures

This consists of funds received from the Youth Futures Foundation, via Young Brent Foundation to fund the Brent peer research project.

John Lyons

This consists of funds received in respect of the Youth Employability programme in Brent and Ealing.

Ealing ELS

This consists of funds received in respect of the Ealing Youth Opportunities Partnership.

West London College

This consists of funds received for the West London green skills careers workshops.

Garfield Weston Foundation

This consists of funds received in respect of helping young people prepared for, understand and build confidence about the world of work and options available them post education.

Other Restricted Funds

This consists of various small grants and donations received for the support of Employability and Enterprise Skills and Work Experience programmes.

Page 25

continued...

HOUNSLOW EDUCATION BUSINESS CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

18. VOLUNTEERS

The Charitable Company is dependent on the valuable contribution of its volunteers who give their considerable time and expertise to make the running of the charity a success. During the year, 619 volunteers gave more than 16,000 hours of their time.

Page 26

HOUNSLOW EDUCATION BUSINESS CHARITY

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

INCOME AND ENDOWMENTS
Donations and legacies
Grants
Charitable activities
Schools Employability and Enterprise Skills
Schools work experience
Grants
Corporate memberships
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Social security
Pensions
Charitable activities
Wages
Social security
Pensions
Sundries
Core services costs
Spark! Annual Awards
Office Retail Skills Hub
Travelling
Support costs
Management
Accountancy
Carried forward		 2025
£
53,200
53,200
337,924
160,120
335,780
-
833,824
887,024
31,496
3,468
1,258
36,222
554,232
52,827
17,459
9,111
58,414
19,477
26,596
11,060
749,176
7,254
7,254		 2024
£
20,000
20,000
200,180
104,430
180,345
182,519
667,474
687,474
22,770
2,237
1,004
26,011
471,663
40,896
16,706
4,855
2,755
17,298
-
7,301
561,474
5,824
5,824

This page does not form part of the statutory financial statements

Page 27

HOUNSLOW EDUCATION BUSINESS CHARITY

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Management
Brought forward
Insurance
IT support
Telephone
Postage and stationery
Legal, professional & HR
Recruitment & training
Subsistence & entertaining
IT support
Bank charges & sundries
Depreciation
Governance costs
Independent examination
Total resources expended
Net income		 2025
£
7,254
12,251
11,484
3,019
7,308
5,691
10,753
2,888
69
237
1,807
62,761
2,180
850,339
36,685		 2024
£
5,824
7,599
8,981
2,030
2,977
11,831
17,564
4,483
-
245
1,342
62,876
2,090
652,451
35,023

This page does not form part of the statutory financial statements

Page 28