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**TEAM UP FOR SOCIAL MOBILITY LIMITED**
**(a company limited by guarantee)**
**REPORT AND FINANCIAL STATEMENTS**
**For the year ended 31 March 2023**
**Company Registration Number 08248054**
**Charity Number 1151739**
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023**
|**CONTENTS**||
|---|---|
||**PAGE**|
|Trustees’ Report|2|
|Independent Auditor’s Report|6|
|Statement of Financial Activities|7|
|Balance sheet|8|
|Notes forming part of the financial statements|9|
1
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023 TRUSTEES’ REPORT**
The Trustees are pleased to present their annual Trustees’ report together with the financial statements of the charitable company for the year ended 31 March 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 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).
## **The Charity’s Objectives and Activities**
The charity's objectives are to advance in life and help young people in secondary and primary education through the provision of support and activities including but not limited to tutoring sessions from teams of volunteer tutors which help them reach their academic potential, develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During 2022/23, Team Up remained committed to serving their beneficiaries by continuing to deliver tuition programmes to disadvantaged pupils. As planned, Team Up successfully adapted their tuition programme back to face to face delivery in the classroom after the end of Covid restrictions. Our impact on the academic grades of our pupils remains high and our satisfaction metrics from the schools and partners we work with is excellent. We also have delivered more enrichment and practical sessions for both our pupils and our tutors and we will build on this growth into future years.
## **Achievements and Performance**
The UK continues to languish at the bottom of international league tables for social mobility and tackling inequality. The pandemic has worsened this issue and the educational attainment gap has increased in recent years, despite government initiatives like the National Tutoring Programme (NTP) which is soon to run down. Put simply, there has never been a greater need for Team Up and their services.
Data shows that being from a low-income family puts children and young people at a significant disadvantage in educational attainment and damages their life chances. Team Up works to reduce the widening attainment gap in education by helping underachieving disadvantaged pupils double their expected progress and improve their future prospects. Team Up does this through our carefully designed programme delivered by inspirational volunteer tutors, with the support of qualified teachers. Pupils who receive Team Up tuition progress at a significantly faster pace when compared to their peers.
2
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023 TRUSTEES’ REPORT**
## **Achievements and Performance (cont.)**
Team Up places particular focus on education in the form of equalising opportunities and improving access for children from lower income households. All available evidence shows that while successful academic achievement can open doors to a prosperous career and fulfilling life, poor achievement is a key indicator of long-term poverty, deprivation, a criminal record and low waged employment in adulthood, even negatively affecting health outcomes in later life.
Team Up work over an academic school year with approximately 15 partners (schools, other charities and universities) in each term to deliver 12 week small group tuition programmes in maths and English. Our coordinator team recruits volunteers to tutor our pupils. Our programme managers (PMs), all of whom are qualified teachers, lead and support the volunteers and are responsible for managing each programme. The PMs attend each session with the volunteers and liaise with the partner to ensure the programme runs smoothly.
Over the last twelve months, Team Up tutored disadvantaged pupils across London in maths and English, helping them achieve double their expected progress in just one term. To date, since Team Up’s inception in 2012, over 10,000 disadvantaged pupils across London received Team Up tuition.
Team Up are dedicated to ensuring their offering genuinely makes a difference to their beneficiaries, and the evidence collected demonstrates the Team Up tuition programme is designed to do just that. Team Up beneficiaries are from low-income backgrounds, who have been identified as at risk of leaving school without meaningful qualifications and, who therefore, have little prospect of progressing onto further education or prosperous employment after formal schooling. Despite challenges faced across the charity and education sectors, Team UP have proven to be very resilient and our close links with our partner schools and other organisations have strengthened.
During 2022/23, Team Up delivered 45 programmes tutoring almost 800 pupils across Key Stage 2, 3 and 4 with school, university and charity partners, by recruiting and training well over 200 volunteer tutors. The characteristics of the pupils Team Up tutor are:
- Nearly 2/3 of pupils are in receipt of pupil premium, indicating that they are among the most disadvantaged and many more exhibit indicators of disadvantage such as English as a second language and high mobility.
- 52% of pupils were female and 48% were male.
- 70% of pupils were from BAME communities
- 40% of pupils have English as an Additional Language (EAL) an increase from prior years
Due to our proven model of using inspirational tutors from local schools and universities, Team Up pupils continue to make exceptional progress. Pupils on our Maths programme in the last year, on average, make 8 months of progress in just 12-15 weeks. Over recent years and including English, our pupils, on average, make 6 months of progress in 12-15 weeks (double the EEF benchmark). Together we have achieved such impactful results and with plans for growth our focus in the coming years, we look to the future with optimism.
We would like to thank Team Up pupils for remaining dedicated to their studies. We would also like to thank our volunteers, programme partners, School Coordinators and our staff for ensuring that Team Up continues to deliver vital tuition programmes to those pupils who need them most.
3
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023 TRUSTEES’ REPORT**
## **Financial Review**
The results for the period are set out in the Statement of Financial Activities as detailed on page 7. Principal funding sources are donations and legacies and income from charitable activities: £149,858 (2022: £138,950) and £179,211 (2022: £264,923) respectively.
Total expenditure for the period amounted to £316,295 (2022: £401,648). Costs of charitable activities were £305,627 (2022: £390,981) and costs of fundraising were £10,668 (2022: £10,667). Overall, Team Up recorded a surplus on its activities of £12,774 (2022: £2,225), therefore increasing the closing reserves from £142,620 to £155,394. Team Up continued to meet the reserves policy throughout the year of three months expenditure to be held in unrestricted reserves.
We would like to thank our funders and partners for their continued support.
## **Reference and Administrative Information**
|**Company Registration Number**|08248054|
|---|---|
|**Charity Number**|1151739|
|**Registered office**|Ivy House Farm|
||Berrick Salome|
||Wallingford OX10 6JP|
|**Trustees**|Perella Bridgland|
||Michael Connor|
||Sharla Duncan|
||Jonathan Goggs|
||Stewart Niblock, Chair|
||John Mullins|
||Paidamoyo Mundora|
||Natasha Westover|
|**Independent Examiner**|Charlotte Tucker FCA|
||Prime Numbers Accountancy Services|
||One Lochrin Square|
||92 Fountainbridge|
||Edinburgh EH3 9QA|
|**Bankers**|National Westminster|
||Hornchurch,|
||Essex RM12 4B|
||Starling Bank|
||5thFloor|
||London Fruit & Wool Exchange|
||Duval Square|
||London E1 6PW|
4
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023 TRUSTEES’ REPORT**
## **Trustees’ Responsibilities in Relation to the Financial Statements**
The charitable company Trustees, who are also Directors of Team Up For Social Mobility Limited for the purposes of Company Law, are responsible for preparing a Trustees annual report and 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 year which 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 the financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.
## S **mall company provisions**
This report has been prepared in accordance with the special provisions for small companies under part VII of the Companies Act 2006.
Approved by the Trustees and signed on their behalf,
Stewart Niblock, Chair
15 December 2023
5
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **INDEPENDENT EXAMINERS’ REPORT TO THE MEMBERS AND TRUSTEES FOR THE YEAR ENDED 31 March 2023**
I report on the accounts of the charity for the year ended 31 March 2023, which are set out on pages 9 to 17.
## **Respective responsibilities of trustees and examiner**
The trustees, who are also the directors of Team Up For Social Mobility Limited for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, the 2011 Act, and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- (i) examine the accounts under section 145 of the 2011 Act;
- (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- (iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention;
- a) which gives me reasonable cause to believe that in any material respect the requirements;
- i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- ii) to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (FRSSE) effective 1 January 2015; have not been met; or
- b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Charlotte Tucker FCA**
15 December 2023
## **Independent Examiner**
Prime Numbers Chartered Accountants 92 Fountainbridge Edinburgh EH3 9QA
6
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## **Team Up for Social Mobility Limited**
**Statement of Financial Activities including Income and Expenditure Account** _for the year ended 31 March 2023_
|**Note**
**Income and endowments**
Grants and donations
**2**
Charitable activities
**3**
**Total income and endowments**
**Expenditure**
Raising funds
**6**
Costs of charitable
activities: Programme
delivery
**6**
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
71,125
179,211
**250,336**
10,668
226,894
**237,562**
**12,774**
-
**12,774**
142,620
**155,394**|**Restricted**
**funds**
**£**
78,733
-
**78,733**
-
78,733
**78,733**
**-**
-
**-**
-
**-**|**2023**
**Total**
**funds**
**£**
149,858
179,211
**329,069**
10,668
305,627
**316,295**
**12,774**
-
**12,774**
142,620
**155,394**|**2022**
**Total**
**funds**
**£**
138,950
264,923
**403,873**
10,667
390,981
**401,648**
**2,225**
-
**2,225**
140,395
**142,620**|
|---|---|---|---|---|
The charitable company has no recognised gains and losses other than the results for the year as set out above. All the results of the charitable company are classed as continuing.
The statement of financial activities also complies with the requirements for an income and expenditure account under Companies Act 2006.
The notes on pages 9 to 17 form an integral part of these financial statements.
7
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## **Team Up for Social Mobility Limited**
**Balance Sheet** _as at 31 March 2023_
|**Note**
**Fixed assets**
Tangible assets
**10**
**Total fixed assets**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Total current assets**
**Liabilities**
**12**
**Net current assets**
**Total assets less current liabilities**
**13**
**Net assets**
**Funds of the charity**
Restricted income funds
**14**
Unrestricted funds - general
**14**
**Total charity funds**
Creditors falling due within one year
Creditors falling due after one year|**Unrestricted**
**Funds -**
**General**
4,998
**4,998**
58,371
128,963
**187,334**
14,438
**172,896**
**177,894**
(22,500)
**155,394**
155,394
**155,394**|**Restricted**
**Funds -**
-
**-**
10,000
-
**10,000**
10,000
**-**
**-**
-
**-**
-
**-**|**2023**
**Total**
**funds**
**£**
4,998
**4,998**
68,371
128,963
**197,334**
24,438
**172,896**
**177,894**
(22,500)
**155,394**
-
155,394
**155,394**|**2022**
**Total**
**funds**
**£**
6,596
**6,596**
92,941
137,193
**230,134**
61,610
**168,524**
**175,120**
(32,500)
**142,620**
-
142,620
**142,620**|
|---|---|---|---|---|
For the year ended 31 December 2023 the company was entitled to exemption from the requirement to have an
audit under section 477 of the Companies Act 2006. No members have required an audit of its accounts for the
year in question in accordance with section 476. The directors acknowledge their responsibility for:
- a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and
- b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for each financial year in accordance with the requirement of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Trustees on 15 December 2023 and are signed on their behalf by:
Perella Bridgland
Treasurer Company number: 08248054 The notes on pages 9 to 17 form an integral part of these financial statements.
8
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
**Notes to the Financial Activities** _for the year ended 31 March 2023_
## **Accounting Policies**
## **Basis of preparation**
The accounts (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 for Smaller Entities published on 16 July 2014, the Financial Reporting Standard For Smaller Entities (effective January 2015) and the Charities Act 2011, Companies Act 2006 and applicable regulations. The accounts have been prepared on a going concern basis and the trustees believe there to be no maternal uncertainties about the Charity's ability to continue as a going concern.
## **Fund Accounting**
Funds are classified as either Restricted Funds or Unrestricted Funds, defined as follows:
**Restricted funds** are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.
**Unrestricted funds** are donations and other incoming resources receivable or generated for the objects of the Company without further specified purpose and are available as general funds.
The nature and purpose of each fund is explained in note 14.
9
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
**Notes to the Financial Activities** _for the year ended 31 March 2023_
## **Accounting Policies (cont’d)**
## **Judgements and Estimates**
In preparing these financial statements, the Trustees are required to make estimates and assumptions which affect reported income, expenditure, assets and liabilities. Use of available information and judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable.
## **Income**
Voluntary income received by way of grants, donations and legacies is included in full in the Statement of Financial Activities when receivable and the Charity has entitlement. Corporate sponsorship income represents unrestricted income for the provision of access to the Charity's university students for recruitment and engagement and is accounted for when receivable. Income from schools in respect of tutoring services is charged on an annual per head basis when receivable. Gifts in kind are accounted for at a reasonable estimate of their value to the chanty or the amount actually realised. Gifts in kind for sale or distributon are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA. as incoming resources when reasonable. Donated services and facilities are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## **Expenses**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
All expenditure is accounted for on an accruals basis.
Governance costs (which are included as a component of support costs in accordance with SORP) comprise all costs involving the public accountability of the charitable company and its compliance with regulation and good practice. These costs include those related to constitutional and statutory requirements, external scrutiny (audit or independent examination), strategic management, and other legal and professional fees.
## **Activity based reporting**
To comply fully with the Statement of Recommended Practice would require income and expenditure to be reported by activity. The Trustees are of the opinion that the charitable company’s activities are inter-linked therefore this would be impractical to calculate and would provide no additional benefit to the users of these financial statements. Therefore, no further analysis of income and expenditure is provided within these financial statements.
10
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## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
**Notes to the Financial Activities** _for the year ended 31 March 2023_
## **Accounting Policies (cont’d)**
## **Fixed Assets and Depreciation**
Fixed assets are stated at cost less accumulated depreciation.
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 33.3% straight line Fixtures, fittings and equipment - 20% reducing balance
## **Debtors**
Debtors are measured at their recoverable amounts, being the amount the charitable company anticipates it will receive in settlement of the debt (net of any discounts offered and provision against bad debt). Prepayments are valued at the amount prepaid at the reporting date.
## **Bank and Cash**
Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors**
Creditors are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of economic benefit - generally in the form of a cash payment - to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. If there is an unconditional right to defer payment for more than 12 months from reporting date then they are presented as non-current liabilities.
## **Leasing and hire purchase**
Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.
## **Pension**
The pension costs charged in the financial statements represent the contribution payable by the charity during the year.
11
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## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2023_
|**2**
**Grants and donations**
Donations and gifts
Grants receivable for core activities
Restricted grants received:
_Jack Petchey_
_Newby Trust_
_Jane & Michael Davies Charitable Trust_
_FSJ Trust_
_ExPat_
0
_Charles S French Charitable Trust_
0
_St Olave’s Foundation_
_Newcomen Collett Foundation_
_The Grocers Charity_
_Merchant Taylor Charitable Trust_
_Investec_
_Haberdashers_
_Invesco Cares_|**Unrestricted**
**funds**
**£**
525
70,600
-
-
-
-
-
-
-
-
-
-
-
-
-
**71,125**|**Restricted**
**funds**
**£**
-
(100)
8,033
10,000
15,500
1,100
42,200
2,000
-
-
-
-
-
-
-
**78,733**|**2023**
**Total**
**£**
525
70,500
8,033
10,000
15,500
1,100
42,200
2,000
-
-
-
-
-
-
-
**149,858**|**2022**
**Total**
**£**
835
60,971
33,141
10,000
12,000
-
-
-
1,500
1,000
5,000
4,500
5,003
2,000
3,000
**138,950**|
|---|---|---|---|---|
Income from grants and donations was £149,858 (2022: £138,950) of which £71,024 was unrestricted (2022: £61,806 ) and £78,833 was restricted (2022: £77,144).
## **3 Charitable activities**
|Grant income:
School tutoring services
University tutoring services
Partnership income
CJRS funding|**Unrestricted**
**funds**
**£**
95,898
52,711
30,602
-
**179,211**|**Restricted**
**funds**
**£**
-
-
-
-
**-**|**2023**
**Total**
**£**
95,898
52,711
30,602
-
**179,211**|**2022**
**Total**
**£**
107,040
107,337
47,200
3,346
**264,923**|
|---|---|---|---|---|
Income from charitable activities was £179,211 (2022: £264,923) of which £179,211 was unrestricted (2022: £264,923) and £nil was restricted (2022: £nil).
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## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2023_
## **4 Net income**
|This is stated after charging: -|**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Independent examination fee|2,400|2,400|
|Operating lease costs|152|1,851|
|Depreciation|3,519|2,229|
## **5 Trustees' remuneration and related party transactions**
The directors, as trustees, received no remuneration nor reimbursement of expenses in the current or prior year. Natasha Westover is employed in an executive role and her remuneration is included in Note 8.
## **6 Analysis of expenditure**
## **Costs of raising funds**
|**Costs of raising funds**
Staff costs
Other fundraising costs|**Unrestricted**
**funds**
**£**
10,020
648
**10,668**|**Restricted**
**funds**
**£**
-
-
**-**|**2023**
**Total**
**£**
10,020
648
**10,668**|**2022**
**Total**
**£**
9,900
767
**10,667**|
|---|---|---|---|---|
Costs of raising funds was £10,668 (2022: £10,667 ) of which £10,668 was unrestricted (2022: £10,667) and £nil was restricted (2022: £nil).
## **Costs of charitable activities**
|**Charitable expenditure**
Staff costs
Depreciation
Travel and volunteers
Office costs
Premises
Accountancy fees
Resources and materials
Other direct costs
_Governance costs:_
Independent examination and statutory accounts|**Unrestricted**
**funds**
**£**
170,607
3,519
9,846
7,243
153
4,392
20,608
8,126
2,400
**226,894**|**Restricted**
**funds**
**£**
78,733
-
-
-
-
-
-
-
-
**78,733**|**2023**
**Total**
**£**
249,340
3,519
9,846
7,243
153
4,392
20,608
8,126
2,400
**305,627**|**2022**
**Total**
**£**
307,165
2,229
11,976
5,690
580
4,848
41,585
14,508
2,400
**390,981**|
|---|---|---|---|---|
Costs of charitable activities was £305,627 (2022: £390,981) of which £226,794 was unrestricted (2022: £313,837) and £78,833 was restricted (2022: £77,144).
## **7 Taxation**
The charitable company is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
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## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2023_
## **8 Staff costs**
|Staff costs comprise:
Salaries and wages
Social security costs
Pension cost|**2023**
**£**
232,865
22,021
4,473
**259,360**|**2022**
**£**
288,206
23,104
5,755
**317,065**|
|---|---|---|
The total remuneration paid to key management during the year, including salary and employer’s pension and national insurance contributions, was £66,801 (2022: £50,955).
The average monthly number of employees on a headcount basis during the period was:
|Programme delivery
Support staff|**2023**
**Number**
8
-
**8**|**2022**
**Number**
7
1
**8**|
|---|---|---|
No individual staff member received more than £60,000 in either the current and prior year.
## **9 Pensions**
The company operates a defined contribution pension scheme in respect of the employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £4,473 (2022: £5,755).
## **10 Tangible fixed assets**
|**Tangible fixed assets**|||
|---|---|---|
|**Cost/valuation**|**£**
**Fixtures and equipment**||
|As at 1 April 2022||22,625|
|Additions||1,921|
|Disposals||-|
|**As at 31 March 2023**||**24,546**|
|**Depreciation**|||
|As at 1 April 2022||16,029|
|Charge for the year||3,519|
|**As at 31 March 2023**||**19,548**|
|**Net book value**|||
|**As at 31 March 2023**||**4,998**|
|As at 31 March 2022||**6,596**|
14
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## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2023_
|**11**
**Debtors**
Trade debtors
Accrued income
Prepayments
**12**
**Creditors falling due within one year**
Bank loan
Trade creditors
Other taxes and social security
Other creditors
Accruals
Deferred income
**13**
**Creditors falling due after one year**
Bank loan
**14**
**Movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Internship
Essex programme
Programme staff
**Total Funds**
West London Tuition|**As at**
**1 April 2021**
**£**
142,620
**142,620**
-
-
-
-
**-**
**142,620**|**Income**
**£**
250,336
**250,336**
8,033
3,000
42,200
25,500
**78,733**
**329,069**|**Expenditure**
**£**
(237,562)
**(237,562)**
(8,033)
(3,000)
(42,200)
(25,500)
**(78,733)**
**(316,295)**|**2023**
**£**
55,651
10,000
2,720
**68,371**
**2023**
**£**
10,000
2,594
5,596
1,312
4,936
-
**24,438**
**2023**
**£**
22,500
**22,500**
**Transfers**
**£**
-
**-**
-
-
-
-
**-**
**-**|**2022**
**£**
56,751
35,431
759
**92,941**
**2022**
**£**
10,000
11,890
6,442
1,406
5,772
26,100
**61,610**
**2022**
**£**
32,500
**32,500**
**As at**
**31 March**
**2022**
**£**
155,394
**155,394**
-
-
-
-
**-**
**155,394**|
|---|---|---|---|---|---|
15
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## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2023_
## **14 Movement in funds (cont.)**
**----- Start of picture text -----**
As at As at
31 March
1 April 2021 Income Expenditure Transfers 2022
£ £ £ £ £
Unrestricted funds
General fund 140,395 326,729 (324,504) - 142,620
140,395 326,729 (324,504) - 142,620
Restricted funds
Internship - 33,141 (33,141) - -
Newham Tuition - 5,000 (5,000) - -
Southwark Tuition - 9,000 (9,000) - -
Investec - 5,003 (5,003) - -
West London Tuition - 25,000 (25,000) - -
- 77,144 (77,144) - -
Total Funds 140,395 403,873 (401,648) - 142,620
Fund purposes:
**----- End of picture text -----**
**----- Start of picture text -----**
Unrestricted funds:
General fund Represents the general giving and expenditure of the charity.
Restricted funds:
Internship Funds were received from Jack Petchey to finance two interns who supported delivery of the
programmes. They have been fully spent in the prior year.
Newham Tuition Funds were received from The Grocer's Charity to provide a tuition programme in Newham
along with our charity partner. They have been fully spent in the prior year.
Southwark Tuition Funds were received from St Olave's Foundation, Newcomen Collet, Merchant Taylor
Charitable Trust and Haberdashers to provide a tuition programme in Southwark along with
our charity partner. They have been fully spent in the prior year.
West London Tuition Funds were received from Newby Trust, Invesco Cares and Jane & Michael Davies Charitable
Trust to provide a tuition programme in West London along with our charity partner. They
were fully spent in the prior year.
Essex programme Funds were received from FSJ Trust and Charles S French Charitable Trust to to provide a
tuition programme in Essex . They have been fully spent in the year.
Programme staff Funds were received from ExPat to fund the costs of new programme staff . They have been
fully spent in the year.
**----- End of picture text -----**
16
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## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2023_
|**15**
**Analysis of Net assets between funds**
Restricted funds
Unrestricted funds
_General_
**As at 31 March 2023**
Restricted funds
Unrestricted funds
_General_
**As at 31 March 2022**|**Fixed Assets**
**£**
-
4,998
**4,998**
**Fixed Assets**
**£**
-
6,596
**3,600**|
**Net current**
**assets/**
**(liabilities)**
**£**
-
150,396
**150,396**
**Net current**
**assets/**
**(liabilities)**
**£**
-
136,024
**136,795**|**Total**
**£**
-
155,394
**155,394**
**Total**
**£**
-
142,620
**140,395**|
|---|---|---|---|
17