The Access Project Trustees’ R eport a nd A ccounts f or the ear e nded 3 1 A 2 021 y ugust 

128 Aldersgate Street, Barbican, London, EC1A 4AE    Telephone:  020 4513 5999 Registered Company number: 07473072 | Charity number: 1143011 



|Contents||
|---|---|
|Messagef<br>romo<br>urC<br>hiefE<br>xecutive|2|
|Trustees’r<br>eport|3|
|_Our objectives, aims and activities_|_3_|
|_Our achievements in 2020/21_|_7_|
|_Our plans for 2021/22_|_9_|
|_Our finances_|_9_|
|_Principal risks and uncertainties_|_11_|
|_Our governance_|_11_|
|_Statement of trustees’ responsibilities_|_12_|
|Referencea<br>nda<br>dministratived<br>etails|14|
|Independenta<br>uditor’sr<br>eportt<br>ot<br>hem<br>emberso<br>fT<br>heA<br>ccessP<br>roject|1<br>5|
|Financials<br>tatements|19|
|_STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31 AUGUST_||
|_2021 (Incorporating the Income & Expenditure account)_|_19_|
|_BALANCE SHEET AS AT 31 AUGUST 2021_|_20_|
|_STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST 2021_|_21_|
|_NOTES TO THE FINANCIAL STATEMENTS_|_22_|



_The Access Project: Trustees’ Report and Accounts 2020/21_ 



Message f rom o ur C hief E xecutive 


The Access Project started the 2020/21 academic year having weathered the early stages of the pandemic and acted fast to ensure that our young people were still able to access our tutoring and mentoring. Thanks to our digital pilot in the East Midlands, we were already testing online tutoring and adjusted rapidly to roll that out across the country. Alongside this, we adapted our provision and moved our mentoring support online as well. 

We took the decision in September 2020 to keep all our tuition online for the academic year in light of the continued uncertainty around the pandemic. In contrast, we maintained a faceto-face approach for our mentoring offer whilst being mindful of the need for contingency plans in the event of further school closures. Unfortunately, as we know, these contingency plans became necessary: a few schools were forced to close in December 2020 because of staff shortages, and ultimately all schools were closed in January 2021. 

In the 2019/20 academic year we participated in an online tuition pilot, which helped demonstrate proof of concept for the National Tutoring Programme - the Government's catch-up scheme to support disadvantaged students. It is a testament to our proven impact that we were selected as a tuition partner for 2020/21 as one of around thirty organisations from the 400 that applied. 

This partnership enabled us not only to maintain our delivery, but also to expand our reach, growing into West Yorkshire. It was a significant achievement to establish school partnerships in a new region, building relationships and enrolling students all in the context of working remotely, and I am enormously proud of the team for making this happen. 

As a result, we’ve not only survived these challenging times; we’ve thrived in them. We’ve been able to draw on the country’s desire to step up and help the most vulnerable in society. As our tuition moved online we attracted volunteer tutors from all over the country, and increased our volunteer applications by over 60%. 

Our ambition is for educational opportunities to be open to all young people - regardless of background. The Access Project has helped to make that a reality for many young people and I look forward to enabling even more to reach their full potential in the coming years. 

With best wishes, 

Nathan Sansom 

2 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



Trustees’ r eport 

The trustees present their annual report together with the audited financial statements of The Access Project for the period 1 September 2020 to 31 August 2021. The trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements and the requirements of the charity’s governing document. 

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. 

## Our objectives, aims and activities 

## Our o bjectives 

The Access Project’s objectives, as stated in our Memorandum and Articles of Association, are: 

- To advance for the public benefit the education of children and young people in such ways as the trustees think fit, including but not limited to 

   - Making facilities and services available to them with the particular aim of helping them win places at universities, colleges or institutions of higher education 

   - Awarding to or procuring the award to them of financial or other support 

- To provide for the recreation of children and young people by providing facilities and services to them with the particular aim of helping students gain places at universities, colleges or institutions of higher education. 

The trustees have had due regard to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011 and in the following report explain how the charity has worked towards its purposes for the public benefit. 


## Supporting C hriso t hrough l earning f rom h ome 

Chriso’s time during the pandemic was a challenge. Trying to learn on a shared laptop that was “basically broken down” was one of the biggest lows. “It got to the point where I couldn’t even log into school on time because it took so long to turn on.” The Access Project supported her with a laptop so she could continue to learn while schools went in and out of lockdown. It also enabled her to continue her one-to-one tuition with her volunteer tutor. 

On A level results day Chriso made the grades needed to study Law at King’s College London. 

3 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## Our a ims 

Our mission at The Access Project is to support students from disadvantaged backgrounds to access top universities, through a combination of tuition and in-school mentoring. We work with them to achieve the grades, craft strong applications, and transition to university. 

Our work is vital as access to top universities in the UK is profoundly unequal. According to the Department for Education, students from disadvantaged backgrounds are five times less likely to attend top universities in comparison to more advantaged students. There are a range of causes. Students may lack the networks to understand the benefits of an education at a top university and often  see it as not “being for people like me”. They also encounter a series of obstacles that mean they don’t get the grades that they are capable of achieving. In addition during the last 2 years, disadvantaged young people were disproportionately affected by the COVID-19 pandemic. 

Our programme supports young people to overcome these barriers and make the most of their potential. 

## Our p rogrammes 

The Access Project provides an intensive programme of support – including in-school mentoring and personalised tuition - for young people aged 14 to 18. 

We work with 35 schools building long term relationships. We allocate a University Access Officer (UAO) to each school. The UAO is based on site and works closely with school staff. Each UAO supports approximately 40 children. The UAOs are responsible for delivering our �niversity readiness programme developing students� wider learning skills through group and one to one sessions 

We also help students to improve their independence, motivation to attend university, and knowledge about university courses, the application process and what learning at university is like in practice. The mentoring programme follows an outcomes framework which allows for consistent delivery and drives themes for development, all designed to prepare a student for university. 

In addition each student on the programme is matched with an academic tutor who they meet for an hour a week to work on subject areas where they need support. 

Additionally we run: 

- Bespoke trips to top universities to encourage students to see themselves belonging at elite institutions, and support them once they are there through an alumni network of students from similar backgrounds 

- Extra curricular activities for students applying to study at Oxford and Cambridge, and those applying for Medicine and Dentistry courses 

- Events dedicated to a greater understanding of careers development. 

4 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



_The Access Project really helped me gain confidence and made me feel supported regarding my university application. I’m eternally grateful for the opportunities and guidance they gave me through the process, and the support they continue to give._ 

_- Hope, a student who studied at Ashfield School in the East Midlands_ 

In 2020/21 we began a number of new strategic projects with the aim of further deepening our impact for students, and facilitating growth to reach more students nationally. 

- We expanded our mission to include not just placement at a selective university but also successful transition[1] . We know that young people from disadvantaged backgrounds are more likely to face challenges when they get to university. Noncontinuation rates among disadvantaged students are higher than those of their more affluent peers and those who do graduate are significantly less likely to leave with a 1st or a 2:1, or to gain highly skilled employment. 

- We created a bespoke programme for secondary schools (11 to 16). We realised there were a number of disadvantaged students in schools nationally who couldn’t access our support because they didn’t have a sixth form. We believe that we can make a meaningful difference to a student’s chances to get into a top university through working with them at Key Stage 4 to help boost GCSE grades and make good choices about their Key Stage 5 destinations. We therefore expanded our programme to work within these settings and are now operating in four schools 

- We began a pilot project to provide even more intensive tuition at A level for small groups of students in Years 12 and 13. This will help overcome particular challenges of sourcing tutors in STEM subjects. We are recruiting paid, professional tutors and teachers to deliver these intensive group tuition sessions and are closely monitoring and evaluating this work to develop our understanding of how feasible and impactful it would be at scale. 

> 1 We will be holding ourselves accountable for students successfully placing into the second year of university, as an indicator of successful transition. We will also measure students’ sense of belonging at their institution. 

5 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## How w e d rive a nd m easure s uccess 

Our programme is an evidence-based, data driven intervention. We have identified the intermediate outcomes that we believe it’s important for our students to meet along their journey to placing at - and transitioning successfully to - a selective university[2] . These outcomes include short-term changes in knowledge, attitudes and practices (for instance a student understands the stages of applying to university, is reading widely outside of the curriculum, etc), as well as more medium/long-term outcomes (such as submitting good applications to selective universities, getting offers, and high attainment at GCSE and A level). 

Central to our programme are the ways in which we use data to ensure each of our students receives the provision they need, to learn about how we can improve our delivery, and to evaluate our impact on our students’ university prospects. We have developed sophisticated monitoring and evaluation systems bringing together data from a variety of sources to track students’ progress (impact management) as well as ascertain their outcomes (impact evaluation). 

We collect data on our students’ academic and socio demographic background, their participation on our programme and progress on our bespoke university readiness scales, and their academic results and university destinations. We use this data to intervene in realtime when delivery goes off-course but also to understand how The Access Project activities affect student outcomes. 

We also regularly quality assure our delivery – for example, through drop-ins during tutorials, workshops and one-to-one mentoring sessions – to make sure that we are delivering consistently well for all of our students. Our evidence of what good looks like is used to plan training for new staff and development for continuing University Access Officers. This work is supported by regular feedback from our front-line delivery team and insights from our student surveys and focus groups. 

Our evaluation work enables us to better understand how well our programme is working, for which students, and why. Through our annual impact evaluation, we aim to: 

- Assess to what degree our students meet the programme's outcomes 

- Ascertain that they meet these outcomes because of our work 

- Identify the key drivers of impact and understand how they work, and for whom they work. 

The findings from the evaluation feed into decisions around programme delivery and design, as well as the organisational strategy. This is how we continue to drive up our performance year on year. 

> 2 Our definition of a selective university is based on the Department for Education’s list of the top third universities, as defined by grade tariff for admission. 

6 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## Our achievements in 2020/21 

## Selection a s a N ational T utoring P rogramme P rovider a nd e xpansion i nto W est Y orkshire 

The Access Project was part of the successful online tuition pilot in summer 2020. This helped to make the case for the Government to introduce a National Tutoring Programme (NTP), which is the cornerstone of the efforts to help disadvantaged students catch up on learning loss as a result of the pandemic. 

We were delighted to be selected as one of 33 tuition partners from around 400 applications. This was a testament to the quality of tuition and impact achieved by The Access Project over a number of years. Our involvement as an NTP tuition partner enabled us to access scale-up costs which helped us to expand our offering to West Yorkshire. We partnered with Dixons Academy Trust, in a new model of engagement with a multi-academy trust, and began supporting 156 students in two schools in the region. 

## Core p rogramme 

Volunteer tutors support a student in a one-to-one capacity using our bespoke online tuition platform to improve their grades in one of their GCSE or A level subjects. Over 1,800 volunteers delivered at least one tutorial during the academic year, an increase of 362 volunteers from 2019/2020. This equates to 35,713 hours of volunteer tutorials. 

Having recruited a record number of tutors this year, 98% of students were matched with a tutor. In addition, 92% of mentoring provision was delivered, despite the constant change and upheaval that COVID-19 presented. 

Our successful programme delivery led to 94% of students applying to a top university, with 94% of these receiving offers, and almost seven in 10 placing at a selective institution on results day. 

## Nana i s “ more e xcited t han n ervous” t o b e t o g oing Cambridge U niversity 

Nana went to Oasis Academy Hadley. She was tutored in English Literature. “My tutor made me fall in love with English Literature,” she says. “She helped me academically and taught me to broaden my horizons and the importance of wider reading. Not only that but she put me in touch with people she knew from Cambridge who helped me with my personal statement.” 

Her experience on The Access Project was one that helped her not only academically but also helped her to grow as a person. “Before The Access Project I didn’t have high aspirations. The Access Project widened my ambitions.” 


7 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## KS5 a ttainment r aising p ilot 

The pilot aims to test the feasibility, scalability and impact of small group tuition delivered by professional, paid tutors across three different A level subjects (Biology, English and Maths). We planned to deliver group tuition to 90 students across Key Stage 5 in selected schools. We successfully recruited nine tutors to tutor 83 students in total. 

Between March and July the groups reached a total of 352 hours of tutorials, with an average of 81% student attendance – the same percentage attendance as one-to-one tuition. Group tutors also had the opportunity to deliver study skills modules, which were designed to complement the A level curriculum for the subject they were tutoring. 

Throughout the delivery of the pilot we were careful to seek timely feedback from students and tutors. Students were surveyed twice and a round of focus groups was held at the end of the academic year. We were interested in investigating how impactful students felt group tuition was in comparison to one to one tuition. On a one to five rating, students scored: 

- Their group tuition highly when asked about their enjoyment of group tuition (average rating 3.94) 

- If they felt that group tuition helped them progress (average rating 3.96) 

- If their group tutor plans tutorials at a suitable level for them (average rating 4.2). 

Students also positively commented on the capability of their group tutors, citing their examspecific knowledge and expertise with exam technique and advice. Additionally, students felt that learning in groups was a positive experience and that they could learn from peers. 

Towards the end of the academic year we began planning for scaling the pilot up to work with 160 students (80 in Year 12 and 80 in Year 13) across all of our schools with sixth forms. 

## Transition m ission e xtension 

This year we extended our mission to include students’ successful transition to university. We have defined successful transition as enrolment into the second year of university, and students reporting a “sense of belonging” at their institution. 

To deliver these outcomes for students we have identified five key objectives for students, covering time management, academic transition, wider student experience, university services and finance. This work has been mainstreamed through our four-year programme. The activities - workshops, trips and one-to-ones - have enabled us to develop students’ knowledge, motivation, independence and academic self-efficacy in relation to successful transition. Supporting students with transition to university through our in-school programme means that we can be confident that these activities are delivered to the same high level of fidelity and quality as our core programme. 

Over the summer of 2021, we delivered increased transition provision to students who were about to start university in the autumn. We held “transition week” - a webinar series on 

8 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



preparing for university, delivered in partnership with university academics and partner organisation upReach, which reached over 90 students. Additionally we ran peer mentoring support for 65 students who were matched with former students of The Access Project who are in the years above them at the same university. 

Once students begin university they receive termly newsletters with advice and guidance on university life, careers opportunities and reactive support for some students in need. To deliver events, provision and peer mentoring, we engage university students as student ambassadors where possible. We know that hearing messaging from relatable peers is likely to resonate more with students, and this work also provides income and skills development for university students. 

We are looking forward to seeing how our first cohort of students who received our transition support have adapted to university. We won’t be able to find out if they have enrolled onto the second year yet, but we will be able to collect data on their sense of belonging at their institution. 

_I think the pandemic definitely impacted my education in a negative way but I was lucky enough to have internet at home and a tutor. It really shined a light on the disparities in education. Even when we were learning online I always had The Access Project and my tutorials online. When education was all over the place I still had my tutorials and it meant I didn’t fall behind in English._ 

_- Our student Phoebe who placed at the University of St Andrews to study English Literature by getting three A*s._ 

## Our plans for 2021/22 

We will grow our KS5 attainment pilot, building on the learnings from our first year and testing how the proposition can scale and what is required to do this. 

We will also be putting in place the building blocks to expand into a new region - the North West - through a unique partnership with The Queen’s College, Oxford. We have recruited four schools to partner with us, and will be launching these programmes in September 2022. 

After a really challenging 18 months for our staff, we will be reviewing our people strategy and how we support and develop staff, as well as developing a multi-year Equality, Diversity and Inclusion strategy, to ensure we are attracting diverse talent, and creating an inclusive environment for people regardless of their background or identity. 

We will also review our longer-term strategy, and will be finalising a multi-year plan. 

9 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## Our finances 

## Income a nd e xpenditure 

During the year The Access Project received income of £2.8 million, achieving growth of 30% on the previous year and exceeding our budget. A substantial proportion of our income growth was a result of The Access Project’s participation in the National Tutoring Programme. Other key funding sources continue to include grant making trusts, businesses, individual donors, schools and universities. We are grateful for the ongoing support of Impetus who have provided direct funding and enabled co-investment funding from other organisations. 

Our expenditure for the year was £2.8 million, representing a 13% increase in expenditure on the previous year. The increased expenditure was a result of delivering our core programme in four new schools over the course of the year and commencing our KS5 attainment raising pilot. 

## Balance s heet a nd r eserves 

At 31 August 2021 The Access Project had net assets and total funds of £1.2 million, an increase of £62,868 on the previous year. Of these, £1.2 million were held as unrestricted reserves in the general fund, with a further £9,065 restricted for use on student prizes and technology. 

The Access Project’s policy is to hold reserves equal to at least three months of operating costs in order to safeguard against the risks of a downturn in income or unforeseen liabilities or expenditure. At 31 August 2021, The Access Project’s free reserves were equal to 4.6 months of operating costs. This has enabled us to continue with the same level of activity and scale up our KS5 attainment raising pilot in 2021-2022 despite the challenging funding environment. 

## Fundraising 

The Access Project's fundraising activities included seeking and securing financial contributions from individuals, universities, corporations, trusts and foundations, and grant making bodies. We claim Gift Aid on donations made by individuals which are eligible. Partnerships with companies can offer both financial and in-kind support, including pro bono projects and providing volunteers. We seek funds from charitable trusts and foundations and apply for both core support and funds restricted to specific projects and purposes. All fundraising is managed internally and delegated to the Partnerships Director who is accountable to the trustees via the Executive. We employ in-house fundraisers and do not work with any third-party fundraisers. 

10 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



As well as being guided by our own internal fundraising strategy and policies, The Access Project adheres to the Code of Fundraising Practice (including guidance on vulnerable donors) and is registered with the UK Fundraising Regulator. Some individual fundraisers are also members of the Institute of Fundraising. No complaints were received during the year in relation to our fundraising. 

## Going c oncern 

After making appropriate enquiries, the trustees have a reasonable expectation that The Access Project has adequate resources to continue in operational existence for the foreseeable future. The Executive team and trustees have evaluated the level of reserves, cash flow forecasts and future income streams and remain confident of the ongoing viability of the charity. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 

## Principal risks and uncertainties 

The trustees regularly review a register of risks to which the charity is exposed and are satisfied that systems and procedures are in place to mitigate The Access Project’s exposure to them. 

The key risks identified in 2020/21 were: 

- Loss of substantial income from various income streams. This was mitigated by maintaining a diverse mix of funding 

- Not recruiting enough volunteers for the 2021/22 academic year. This was mitigated by finalising a volunteer recruitment strategy and using data analysis to identify possibilities for efficiencies in recruitment and onboarding 

- A safeguarding incident occurring in relation to the programme. This was mitigated by implementing our safeguarding policy and procedures (including safer recruitment), providing training for staff and volunteers and running a safeguarding working group headed by our Policy & Safeguarding Manager 

- An information security incident occurring. This was mitigated by appointing a Data Protection Officer (DPO) and developing systems resilience and implementing relevant policies. 

## Our governance 

The Access Project is registered as a charitable company limited by guarantee and constituted under a Memorandum of Association dated 12 June 2011 (registered charity number 1143011). The members agree to contribute £1 or any smaller amount in the event of the charity winding up. 

11 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



The Access Project is governed by a board of trustees, currently �� that meets at least four times a year. New trustees are appointed by a decision of the existing trustees under the terms of the Articles of Association and all trustees become members of the charity upon appointment. Once appointed, each trustee undergoes an induction with the Chief Executive Officer (CEO) and the Executive team. 

The trustees are responsible for the governance of and for setting the overall strategy and direction of the charity. Operational matters connected with implementation of the strategy, together with responsibility for the day-to-day running of the organisation, are delegated to the CEO and Executive team. Some of the board’s powers and functions are delegated to board committees in line with their terms of reference. The committees in operation are: 

- Finance c ommittee: This committee meets on a quarterly basis and is responsible for 

- reviewing budgets and forecasts, monitoring financial performance and reviewing the charity’s financial controls 

- Remuneration c ommittee: This committee meets at least annually and considers annual inflationary salary increases and performance awards and directs the pay and remuneration of the Executive team. In setting the remuneration of the Executive team the committee considers market rates, skill sets and performance 

- Nomination c ommittee: This committee meets as required and evaluates the suitability of applications for trustee positions and potential trustee nominations 

## Statement of trustees’ responsibilities 

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

Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: 

- Select suitable accounting policies and then apply them consistently 

- Observe the methods and principles in the Charities Statement of Recognised Practice (SORP) 

- Make judgments 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 

12 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## Disclosure o f i nformation t o a uditors 

Each of the persons who are trustees at the time when this Trustees' Report is approved has confirmed that: 

- So far as that trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware 

- That each trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. 

In preparing the report, the trustees have taken advantage of the small companies exemptions provided by Section 415A of the Companies Act 2006. 

This report was approved by the trustees on ��  May 2022 and signed on their behalf by: 



J Kelly-Jones P R Denison-Pender FCCA CFA Interim Chair of Trustees Honorary Treasurer, Trustee 

13 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## Reference a nd a dministrative d etails 

Charity N ame: The Access Project Charity r egistration n o : 1143011 Company r egistration n o: 07473072 Registered o ffice : 128 Aldersgate Street, Barbican, London, EC1A 4AE Principal o ffice : The Dock, Tobacco Quay, Wapping Lane, London, E1W 2SF Website: www.theaccessproject.org.uk 

## The A ccess P roject B oard o f T rustees 

M.E. Curnock Cook CBE (Chair – resigned 5 October 2021) J.T. Kelly Jones (Interim Chair from 7 April 2022) A. Johnson (Chair – appointed 5 October 2021, resigned 7 April 2022) D.M. Bennett K. Brewis 

A. Burns 

T.R. Chowdhury N.P. Cosgrove J. Daboo (Resigned 23 November 2021) P.R. Denison-Pender (Honorary Treasurer) E. Leech N.S.W. McIntosh CBE (Resigned 23 November 2021) F. Nacakgedigi 

Chief E xecutive O fficer: Nathan Sansom Independent A uditors: Goodman Jones LLP , 29/30 Fitzroy Square, London W1T 6LQ Bankers: CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ Solicitors: Slaughter and May, One Bunhill Row, London, EC1Y 8YY CMS Cameron McKenna Nabarro Olswang LLP Canon Place, 78 Cannon Street, London, EC4N 6AF 

14 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



a uditor’s r t o t he m embers o f T he A ccess Independent eport Project 

## Opinion 

We have audited the financial statements of The Access Project (the 'Charity') for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies as set out on pages 19 to 33. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2021 and of its incoming resources and application of resources, including its 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 Charities Act 2011 and Companies Act 2006. 

## Basis o f o pinion 

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 r elating t o g oing c oncern 

In auditing the financial statements, we have concluded that the director's 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 

15 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



the 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 directors with respect to going concern are described in the relevant sections of this report. 

## Other i nformation 

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

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. 

## Matters o n w hich w e a re r equired t o r eport b y e xception 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

1. the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or 

2. sufficient accounting records have not been kept; or 

3. the financial statements are not in agreement with the accounting records and returns; or 

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

## Responsibilities o f t rustees 

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the Charity 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 

16 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



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. 

## Auditors’ r esponsibilities f or t he a udit o f t he f inancial s tatements 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

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 Auditors' 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 charity and section, we identified that the principal risks of non-compliance with laws and regulations related to sector regulations and unethical and prohibited business practices, and we considered the extent to which noncompliance 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 Charities Act 2011, Companies Act 2006, Charity Commission and sector regulations. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried out. These procedures included: 

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; 

- Reading minutes of meetings of those charged with governance; 

- Obtaining and reading correspondence from legal and regulatory bodies including HMRC; 

- Identifying and testing journal entries; 

- Challenging assumptions and judgements made by management in their significant accounting estimates. 

17 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. 

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

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 Auditors' Report. 

## Use o f o ur r eport 

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' 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 its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. 


## _Goodman J ones L LP_ 

Chartered Accountants 29/30 Fitzroy Square, 

London 

W1T 6LQ 

Date:  24-05-22 

Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 

18 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## Financial s tatements 

STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31 AUGUST 2021 (Incorporating the Income & Expenditure account) 

|Note<br>Incomef<br>rom:<br>Donations and legacies<br>3<br>Charitable activities<br>4<br>Investment income<br>5<br>Other income<br>Totali<br>ncome<br>Expenditureo<br>n:<br>Charitable activities<br>Raising funds<br>Totale<br>xpenditure<br>6<br>Net(<br>expenditure)/i<br>ncome<br>Transfersb<br>etweenf<br>unds<br>Netm<br>ovementi<br>nf<br>unds<br>Reconciliationo<br>ff<br>unds:<br>Total funds brought forward<br>Totalf<br>undsc<br>arriedf<br>orward|Unrestricted<br>f<br>unds<br>2021<br>£<br>1,124,132<br>838,350<br>129<br>1,890<br>1,964,501<br>1,573,452<br>319,962<br>1,883,414<br>81,087<br>-<br>81,087<br>1,077,346<br>1,158,433|Restricted<br>f<br>unds<br>2021<br>£<br>846,118<br>3,000<br>-<br>-<br>849,118<br>867,337<br>-<br>867,337<br>(18,219)<br>-<br>(18,219)<br>27,284<br>9,065|Total<br>funds<br>2021<br>£<br>1,970,250<br>841,350<br>129<br>1,890<br>2,813,619<br>2,440,789<br>309,962<br>2,750,751<br>62,868<br>-<br>62,868<br>1,104,630<br>1,167,498|_Total_<br>_funds_<br>_2020_<br>_£_<br>_1,472,789_<br>_697,650_<br>_1,648_<br>_480_|
|---|---|---|---|---|
|||||_2,172,567_|
|||||_1,999,889_<br>_438,240_|
|||||_2,438,129_|
|||||_(265,562)_<br>_-_|
|||||_(265,562)_|
|||||_1,370,192_|
|||||_1,104,630_|



The notes on pages 22 to 33 form part of these financial statements. 

19 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## BALANCE SHEET AS AT 31 AUGUST 2021 

The Access Project, Company number 07473072 

|Note<br>Fixeda<br>ssets<br>Tangible assets<br>10<br>Currenta<br>ssets<br>Debtors<br>11<br>Cash at bank and in hand<br>Creditors:amounts falling<br>due within one year<br>12<br>Netc<br>urrenta<br>ssets<br>Neta<br>ssets<br>Charityf<br>unds<br>Unrestricted funds: General<br>fund<br>Restricted funds<br>Totalf<br>unds<br>13|£<br>96,323<br>1,605,975<br>1,702,298<br>(541,684)|2021<br>£<br>6,884<br>1,160,614<br>1,167,498<br>1,158,433<br>9,065<br>1,167,498|_£_<br>_120,849_<br>_1,192,227_<br>_1,313,076_<br>_(211,605)_|_2020_<br>_£_<br>_3,159_<br>_1,101,471_|
|---|---|---|---|---|
|||||_1,104,630_|
|||||_1,077,346_<br>_27,284_|
|||||_1,104,630_|



The Charity’s financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the Charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 (“the Act”) and members have not required the Charity to obtain an audit for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees on �� May 2022 and signed on their behalf by: 


## P R D enison-Pender F CCA C FA 

## Honorary T reasurer, T rustee 

The notes on pages 22 to 33 form part of these financial statements. 

20 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST 2021 

|Cashf<br>lowsf<br>romo<br>perating<br>activities:<br>Net income/ (expenditure) for the year<br>(as per Statement of Financial<br>Activities)<br>Adjustments for:<br>Depreciation charges<br>(Increase)/ Decrease in debtors<br>Increase in creditors<br>Netc<br>ashp<br>rovidedb<br>y<br>operatinga<br>ctivities<br>Cashf<br>lowsu<br>sedi<br>ni<br>nvesting<br>activities:<br>Purchase of tangible fixed assets<br>Netc<br>ashu<br>sedi<br>ni<br>nvesting<br>activities<br>Changei<br>nc<br>asha<br>ndc<br>ash<br>equivalentsi<br>nt<br>hey<br>ear<br>Cash and cash equivalents at the<br>beginning of the year:<br>Cash at bank and in hand<br>Casha<br>ndc<br>ashe<br>quivalents<br>att<br>hee<br>ndo<br>ft<br>hey<br>ear:<br>Casha<br>tb<br>anka<br>ndi<br>nh<br>and|62,868<br>6,059<br>24,526<br>330,079|2021<br>£<br>423,532<br>(9,784)<br>413,748<br>1,192,227<br>1,605,975|_(265,562)_<br>_6,024_<br>_284,567_<br>_26,979_|_2020_<br>_£_<br>_52,008_<br>_(1,085)_|
|---|---|---|---|---|
||(9,784)||_(1,085)_||
||||||
|||||_50,923_<br>_1,141,304_|
|||||_1,192,227_|



The notes on pages 22 to 33 form part of these financial statements. 

21 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## NOTES TO THE FINANCIAL STATEMENTS 

## 1. General i nformation 

The Access Project is a charitable company, limited by guarantee, registered in England and Wales, and whose registered office address is 128 Aldersgate Street, Barbican, London, EC1A 4AE. The charity's objects are to support the education of pupils from disadvantaged backgrounds as stated in the Trustees' Report. 

## 2. Accounting p olicies 

## 2.1 B asis o f p reparation o f f inancial s tatements 

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) (effective 1 January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The financial statements 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 has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

The Access Project 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. 

Accounts are prepared in Sterling, the functional currency of the charity, and rounded to the nearest £. 

## 2.2 C ompany s tatus 

The charity is a company limited by guarantee. The members of the company are the Trustees named on page 14. 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. 

## 2.3 G oing c oncern 

Despite the disruption caused by the COVID-19 pandemic, The Access Project has maintained the vast majority of its delivery to students by moving mentoring and tutoring support to online delivery models. The Trustees have prepared revised budgets, forecasts, and cash flow projections, and continue to review these as circumstances evolve and further 

22 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 2.3 G oing c oncern ( continued) 

information becomes available. The charity's resources continue to be satisfactory to enable the charity to meet its obligations. 

After reviewing the level of recurring expenditure, expected income and the future plans of the charity, the Trustees consider that there is no material uncertainty regarding the charity’s ability to continue as a going concern, and consequently believe that the financial statements are appropriately prepared on such a basis. 

## 2.4 F und a ccounting 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

## 2.5 I ncome 

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. 

Grant income is recognised to the extent that the above criteria have been met as well as any performance conditions attached to the grants. Grant income is deferred only to the extent that the charity has yet to fulfill the related performance conditions. 

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the contributions of the volunteers is not recognised - refer to page 7 for more information about their contribution. 

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 

23 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 2.5 I ncome ( continued) 

Income under contracts is recognised to the extent that the services have been provided. Where income is received in advance, this is deferred until the services are performed. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

## 2.6 I nterest r eceivable 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

## 2.7 E xpenditure 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. 

All expenditure is inclusive of irrecoverable VAT. 

## 2.8 P ensions 

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. 

## 2.9 T angible f ixed a ssets a nd d epreciation 

All assets costing more than £500 are capitalised. 

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account. 

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: 

Computer equipment - Straight line basis over 3 years 

24 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 2.10 D ebtors 

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

## 2.11 C ash a t B ank a nd i n h and 

Cash at bank and 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. 

## 2.12 L iabilities a nd p rovisions 

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 

## 2.13 F inancial i nstruments 

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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## 2.14 C ritical a ccounting e stimates a nd j udgements 

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 charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. 

No judgements (apart from those accounting estimates) have been made in the process of applying the above accounting policies. 

No key assumptions concerning the future and key sources of estimated uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year have been identified. 

25 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 3. Income f rom d onations a nd l egacies 

|Donations<br>Grants<br>Total donations and<br>legacies<br>_Total 2020:_|Unrestricted<br>funds<br>2021<br>£<br>571,981<br>552,151<br>1,124,132<br>_1,194,773_|Restricted<br>funds<br>2021<br>£<br>99,242<br>746,876<br>846,118<br>_278,016_|Total<br>funds<br>2021<br>£<br>671,223<br>1,299,027<br>1,970,250<br>_1,472,789_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_677,732_<br>_795,057_|
|---|---|---|---|---|
|||||_1,472,789_|
||||||



Included within grant income above is £3,226 (2020: £7,520) received as part of the UK Government's Coronavirus Job Retention Scheme. 

## 4. Income f rom c haritable a ctivities 

|Tuition and school<br>support<br>_Total 2020:_<br>5.<br>Investmenti<br>ncome<br>Bank interest<br>_Total 2020:_|Unrestricted<br>funds<br>2021<br>£<br>838,350<br>_694,650_<br>Unrestricted<br>funds<br>2021<br>£<br>129<br>_1,648_|Unrestricted<br>funds<br>2021<br>£<br>838,350<br>_694,650_<br>Unrestricted<br>funds<br>2021<br>£<br>129<br>_1,648_|Restricted<br>funds<br>2021<br>£<br>3,000<br>_3,000_<br>Restricted<br>funds<br>2021<br>£<br>-<br> <br>_-_|Restricted<br>funds<br>2021<br>£<br>3,000<br>_3,000_<br>Restricted<br>funds<br>2021<br>£<br>-<br> <br>_-_||Total<br>funds<br>2021<br>£<br>841,350<br>_697,650_<br>Total<br>funds<br>2021<br>£<br>129||_Total_<br>_funds_<br>_2020_<br>_£_<br>_697,650_|
|---|---|---|---|---|---|---|---|---|
|||||||||_Total_<br>_funds_<br>_2020_<br>_£_<br>_1,648_|
||||||||||
|||_1,648_||_-_||_1,648_|||



26 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



## ��������������������������������������������� 

## 6. Analysis o f e xpenditure b y a ctivities 

|Charitable activities:<br>Tuition and school<br>support<br>Raising funds<br>Support costs<br>Total expenditure<br>_Total 2020:_|Staff<br>costs<br>2021<br>£<br>1,608,535<br>220,111<br>371,480<br>2,200,126<br>_1,998,637_|Other<br>direct<br>costs<br>2021<br>£<br>266,464<br>12,429<br>271,732<br>550,625<br>_439,492_|Support<br>costs<br>2021<br>£<br>565,790<br>77,422<br>(643,212)<br>-<br>_-_|Total<br>2021<br>£<br>2,440,789<br>309,962<br>-<br>2,750,751<br>_2,438,129_|_Total_<br>_2020_<br>_£_<br>_1,999,889_<br>_438,240_<br>_-_|
|---|---|---|---|---|---|
||||||_2,438,129_|
|||||||



Support costs are allocated on the basis of direct staff costs. 

7. Support c osts 

|Supportc<br>osts|||
|---|---|---|
|Governancec<br>osts:<br>Audit<br>Others<br>upportc<br>osts:<br>Marketing and promotion<br>Accounting<br>Legal and professional fees<br>Bank charges<br>Computer expenses<br>Insurance<br>Rent<br>Office Supplies<br>Recruitment<br>Temporary staff<br>Other staff costs<br>Travel<br>Telephone and internet<br>Events<br>Subscriptions<br>Other costs<br>Depreciation<br>Staff costs<br>|Total<br>2021<br>£<br>9,360<br>9,360<br>13,020<br>29,478<br>6,874<br>248<br>34,499<br>3,618<br>26,337<br>5,203<br>34,003<br>26,949<br>33,642<br>1,958<br>13,873<br>4,066<br>8,669<br>13,876<br>6,059<br>262,372<br>371,480<br>643,212|_Total_<br>_2020_<br>_£_<br>_8,520_|
|||_8,520_<br>_17,662_<br>_29,802_<br>_10,514_<br>_330_<br>_13,922_<br>_3,238_<br>_91,895_<br>_3,937_<br>_22,023_<br>_48,270_<br>_13,841_<br>_17,855_<br>_8,491_<br>_5,829_<br>_4,187_<br>_736_<br>_6,024_|
|||307,076<br>_458,082_|
|||_765,158_|



27 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 8. Net i ncome/(expenditure) 

This is stated after charging: 

|This is stated after charging:|||
|---|---|---|
||2021|_2020_|
||£|_£_|
|Depreciation of tangible fixed|||
|assets:|||
|- owned by the charity|6,059|_6,024_|



During the year, no trustees received any remuneration or benefits in kind (2020 - £nil) 

No trustees received reimbursement of expenses in the current year (2020 - £174 to two trustees) 

## 9. Staff c osts 

Staff costs were as follows: 

|Staffc<br>osts<br>Staff costs were as follows:|||
|---|---|---|
|Wages and salaries<br>Social security costs<br>Other pension costs|2021<br>£<br>1,959,778<br>189,499<br>50,849<br>2,200,126|_2020_<br>_£_<br>_1,790,474_<br>_164,857_<br>_43,306_|
|||_1,998,637_|



The average number of persons employed by the charity during the year was as follows: 

|Tuition and school support<br>Raising funds<br>Support costs|2021<br>No.<br>47<br>5<br>11<br>63|_2020_<br>_No._<br>_40_<br>_7_<br>_10_|
|---|---|---|
|||_57_|



The number of employees earning £60,000 or more in the year (exclusive of employer pensions and employer National Insurance contributions) was: 

||2021|_2020_|
|---|---|---|
||No.|_No._|
|£60,000- £70,000|1|_1_|
|£80,000 - £90,000|1|_1_|



During the year, total remuneration and benefits paid to key management personnel (inclusive of employer pensions and employer National Insurance contributions) totalled £405,300 (2020: £420,143). 

28 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 10. Tangible f ixed a ssets 

|Cost<br>At 1 September 2020<br>Additions<br>Disposal<br>At 31 August 2021<br>Depreciation<br>At 1 September 2020<br>Charge for the year<br>Disposal<br>At 31 August 2021<br>Netb<br>ookv<br>alue<br>At 31 August 2021<br>_At 31 August 2020_<br>Debtors<br>Other debtors<br>Prepayments and accrued income<br>Trade debtors<br>|Computere<br>quipment<br>£<br>32,930<br>9,784<br>(12,882)<br>29,832<br>29,771<br>6,059<br>(12,882)<br>22,948<br>6,884<br>3,159<br>2021<br>_2020_<br>£<br>_£_<br>1,800<br>_10,929_<br>71,523<br>_64,920_<br>23,000<br>_45,000_<br>96,323<br>_120,849_|
|---|---|



11. Debtors 

29 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 12. Creditors: A mounts f alling d ue w ithin o ne y ear 

|Creditors:A<br>mountsf<br>allingd<br>uew<br>ithino<br>ney<br>ear|||
|---|---|---|
|Taxation and social security<br>Pensions<br>Trade creditors<br>Accruals<br>Deferred income<br>Deferredi<br>ncome<br>Deferred income brought forward<br>Amounts released from previous years<br>Amounts deferred during the year<br>Deferred income carried forward|2021<br>£<br>51,246<br>10,595<br>26,482<br>49,745<br>403,616<br>541,684<br>2021<br>£<br>75,000<br>(75,000)<br>403,616<br>403,616|_2020_<br>_£_<br>_48,596_<br>_9,109_<br>_27,481_<br>_51,419_<br>_75,000_|
|||_211,605_|
|||_2020_<br>_£_<br>_80,750_<br>_(80,750)_<br>_75,000_|
|||_75,000_|



Deferred income has arisen due to invoices raised in advance in respect of 2021/22 activities and grant income with attached KPIs that relate to future academic years. 

30 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 13. Statement o f f unds 

## Statement o f f unds ~~-~~ c urrent y ear 


**----- Start of picture text -----**<br>
Brought Carried<br>forward  1 Transfers forward  3 1<br>September between August<br>2020 Income Expenditure funds 2021<br>Restricted  f unds £ £ £ £ £<br>1. Nominated<br>- - -<br>school delivery 140,000 (140,000)<br>2. Online tuition 7,507 38,800 (46,307) - -<br>3. Technology equipment 10,114 22,442 (25,274) - 7,282<br>4. University trips - 3,000 (3,000) - -<br>5. University transition 7,907 - (7,907) - -<br>6. Student prizes 1,756 - (280) - 1,476<br>7. National Tutoring<br>- - -<br>Programme 613,876 (613,876)<br>8. KS5 pilot - 31,000 (30,693) - 307<br>Total  r estricted  f unds 27,284 849,118 (867,337) - 9,065<br>Unrestricted  f unds<br>General Fund  1,077,346 1,964,501 (1,883,414) - 1,158,433<br>Total  u nrestricted  f unds 1,077,346 1,964,501 (1,883,414) - 1,158,433<br>Total  f unds 1,104,630 2,813,619 (2,750,751) - 1,167,498<br>**----- End of picture text -----**<br>


## Purposes o f r estricted f unds 

_1._ The nominated school delivery fund is restricted to programme delivery in specific schools. 

_2._ The online tuition fund is restricted to online tutoring and resources. 

_3._ The technology equipment fund is restricted to the purchase of equipment for students. 

_4._ The university trips fund is restricted to the provision of student trips to visit universities. 

_5._ The university transition fund was funded by Nesta and is restricted to spend on the university transition programme. 

_6._ The student prizes fund is restricted to the award of student prizes. 

_7._ The National Tutoring Programme fund is restricted to delivery under the NTP 2020/21agreement. 

_8._ The KS5 pilot fund is restricted to activity developing a group tuition model to raise attainment. 

31 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## 13. Statement o f f unds ( continued) 

## Statement o f f unds ~~-~~ p rior y ear 

|Restrictedf<br>unds<br>_1._<br>Nominated<br>school delivery<br>_2._<br>Online tuition<br>_3._<br>Technology equipment<br>_4._<br>University trips<br>_5._<br>University transition<br>_6._<br>Volunteering<br>_7._<br>Student prizes<br>Totalr<br>estrictedf<br>unds<br>Unrestrictedf<br>unds<br>Designated fund:<br>Transformation Fund<br>General Fund<br>Totalu<br>nrestrictedf<br>unds<br>_Total f_<br>_unds_|_Brought_<br>_forward 1_<br>_September_<br>_2019_<br>£<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_275,000_<br>_1,095,192_<br>_1,370,192_<br>_1,370,192_|_Income_<br>£<br>_111,000_<br>_104,784_<br>_30,476_<br>_8,000_<br>_15,000_<br>_10,000_<br>_1,756_<br>_281,016_<br>_-_<br>_1,891,551_<br>_1,891,551_<br>_2,172,567_|_Expenditure_<br>£<br>_(111,000)_<br>_(97,277)_<br>_(20,362)_<br>_(8,020)_<br>_(7,093)_<br>_(10,000)_<br>_-_<br>_(253,752)_<br>_-_<br>_(2,184,377)_<br>_(2,184,377)_<br>_(2,438,129)_|_Transfers_<br>_between_<br>_funds_<br>£<br>_-_<br>_-_<br>_-_<br>_20_<br>_-_<br>_-_<br>_-_<br>_20_<br>_(275,000)_<br>_274,980_<br>_(20)_<br>_-_|_Carried_<br>_forward_<br>_31_<br>_August_<br>_2020_<br>£<br>_-_<br>_7,507_<br>_10,114_<br>_-_<br>_7,907_<br>_-_<br>_1,756_|
|---|---|---|---|---|---|
||||||_27,284_<br>_-_<br>_1,077,346_|
||||||_1,077,346_|
||||||_1,104,630_|



32 

_The Access Project: Trustees’ Report and Accounts 2020/21_ 



��������������������������������������������� 

## _14._ Analysis o f n et a ssets b etween f unds 

Analysis o f n et a ssets b etween f unds ~~-~~ c urrent y ear 

|Analysiso<br>fn<br>eta<br>ssetsb<br>etweenf<br>unds ~~-~~<br>c<br>urrenty<br>ear||||
|---|---|---|---|
|Tangible fixed assets<br>Net current assets<br>Analysiso<br>fn<br>eta<br>ssetsb<br>etweenf<br>unds ~~-~~<br>p<br>riory<br>ear<br>Tangible fixed assets<br>Net current assets|Unrestricted<br>funds<br>2021<br>£<br>6,884<br>1,151,549<br>1,158,433<br>_Unrestricted_<br>_funds_<br>_2020_<br>_£_<br>_3,159_<br>_1,074,187_<br>_1,077,346_|Restricted<br>funds<br>2021<br>£<br>-<br>9,065<br>9,065<br>_Restricted_<br>_funds_<br>_2020_<br>_£_<br>_-_<br>_27,284_<br>_27,284_|Total<br>funds<br>2021<br>£<br>6,884<br>1,160,614|
||||1,167,498|
||||_Total_<br>_funds_<br>_2020_<br>_£_<br>_3,159_<br>_1,101,471_|
||||_1,104,630_|



## 15. Operating l ease c ommitments 

At the reporting end date the company had the following future minimum lease payments under non-cancellable operating leases (all for property) which fall due as follows: 

|Within 1 year<br>Total|2021<br>£<br>3,000<br>3,000|_2020_<br>_£_<br>_7,200_|
|---|---|---|
|||_7,200_|



## 16. Related p arty t ransactions 

A total of £32,973 (2020: £35,828) was donated from trustees during the financial year. No restrictions were attached to these donations. 

Apart from that disclosed above and elsewhere in the financial statements, there are no other transactions with related parties that require disclosures. 

## 17. Controlling p arty 

The charity is controlled by Board of Trustees as a whole and there is no one individual with overall control. 

33 

_The Access Project: Trustees’ Report and Accounts 2020/21_