Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
**TEAM UP FOR SOCIAL MOBILITY LIMITED**
**(a company limited by guarantee)**
**REPORT AND FINANCIAL STATEMENTS**
**For the year ended 31 March 2024**
**Company Registration Number 08248054**
**Charity Number 1151739**
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024**
|**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
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 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 2024 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 aims to increase social mobility by establishing teams of volunteers to empower pupils in primary and secondary education to reach their academic potential through regular tutoring sessions. Team Up works to reduce the widening attainment gap in education by helping underachieving disadvantaged pupils double their expected progress. We also build confidence and resilience to improve their future prospects. We do this through inspirational volunteer tutors, with the support of qualified teachers and facilitators.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During 2023/24, Team Up remained committed to serving their beneficiaries by continuing to deliver tuition programmes to disadvantaged pupils. Our impact on the academic grades of our pupils is higher than ever and our satisfaction metrics from the schools and partners we work with is excellent with over 90% of all delivery partners citing Team Up as making a difference to their pupils . 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. We are also seeing a crisis in our schools from both the long-term impact of Covid and the increased cost of living. 30% of all pupils in UK schools now live in poverty and they are hit the hardest with lower attainment at GCSE and the higher likelihood of problems with their mental health. According to The Sutton Trust, the educational attainment gap has increased in recent years but government assistance, in the form of the National Tutoring Programme, has stopped. 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. Put simply, there has never been a greater need for Team Up and their services.
Team Up tutoring works. Pupils who receive Team Up tuition progress at a significantly faster pace when compared to their peers, gaining confidence and resilience.
2
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 TRUSTEES’ REPORT**
## **Achievements and Performance (cont.)**
Team Up works 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 volunteer and communications manager recruits volunteers to tutor our pupils. Our programme managers (PMs) and facilitators,most 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.
In the last school year of 2023/24, Team Up tutored over 700 disadvantaged pupils across London in maths and English, helping them achieve, on average, nearly three times their expected progress in just one term. This equates to almost a whole grade. This is above our target of double expected progress and truly is accelerated learning. To date, since Team Up’s inception in 2012, over 11,000 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. We are also developing new relationships with schools, universities and charity partners across London. Our number of tuition hours has increased by 3%. We also continue to build a platform for future growth outside of London and have developed many exciting opportunities in the South with funders and prospective partners.
During 2023/24, Team Up delivered 40 programmes tutoring over 700 pupils across Key Stage 2, 3 and 4 (87% in stages 3 and 4) with school, university and charity partners, by recruiting and training nearly 200 volunteer tutors. The characteristics of the pupils Team Up tutor are:
- 75% 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 SEMH
- Pupil attendance has increased from 79% to 84%
- 70% of pupils were from BAME communities
Due to our proven model of using inspirational tutors from local schools and universities, Team Up pupils continue to make exceptional progress. In addition to our excellence attainment results in both maths and English, which are more than double the EEF benchmarks, we have now trained and equipped our tutors to help our pupils build confidence and resilience and this has been implemented in the Autumn term of 2024. With a solid base of existing partners and new relationships with Schools, universities and Charities across London and the South we are on track to grow the number of pupils we tutor in 2024/25 by more than 15% . 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
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 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: £172,945 (2023: £149,858) and £151,529 (2023: £179,211) respectively.
Total expenditure for the period amounted to £323,270 (2023: £316,295). Costs of charitable activities were £303,647 (2023: £305,627) and costs of fundraising were £19,623 (2023: £10,668). Overall, Team Up recorded a surplus on its activities of £1,204 (2023: £12,774), therefore increasing the closing reserves from £155,394 to £156,598. 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|
||Jenna Crittenden|
||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
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024 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.
## **Small 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 12/13/2024 ……………………………….. [Stuart Mblock
5
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
## **INDEPENDENT EXAMINERS’ REPORT TO THE MEMBERS AND TRUSTEES FOR THE YEAR ENDED 31 March 2024**
I report on the accounts of the charity for the year ended 31 March 2024, which are set out on pages 7 to 17.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination.
I confirm that no material matters have come to my attention which gives me cause to believe that:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
12/15/2024
## **Charlotte Tucker FCA Independent Examiner**
…………………………………….
Prime Numbers Chartered Accountants 92 Fountainbridge Edinburgh EH3 9QA
6
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Statement of Financial Activities including Income and Expenditure Account** _for the year ended 31 March 2024_
|**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**
**£**
112,845
151,529
**264,374**
19,623
243,547
**263,170**
**1,204**
-
**1,204**
155,394
**156,598**|**Restricted**
**funds**
**£**
60,100
-
**60,100**
-
60,100
**60,100**
**-**
-
**-**
-
**-**|**2024**
**Total**
**funds**
**£**
172,945
151,529
**324,474**
19,623
303,647
**323,270**
**1,204**
-
**1,204**
155,394
**156,598**|**2023**
**Total**
**funds**
**£**
149,858
179,211
**329,069**
10,668
305,627
**316,295**
**12,774**
-
**12,774**
142,620
**155,394**|
|---|---|---|---|---|
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
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Balance Sheet** _as at 31 March 2024_
|**Note**
**Fixed assets**
Tangible assets
**10**|**Unrestricted**
**Restricted**
**2024**
**2023**
**Funds -**
**Funds -**
**Total**
**Total**
**General**
**funds**
**funds**
**£**
**£**
1,716
-
1,716
4,998|
|---|---|
|**Total fixed assets**|**1,716**
**-**
**1,716**
**4,998**|
|**Current assets**
Debtors
**11**
Cash at bank and in hand|42,076
9,500
51,576
68,371
135,432
-
135,432
128,963|
|**Total current assets**
**Liabilities**
**12**
Creditors falling due within one year|**177,508**
**9,500**
**187,008**
**197,334**
10,126
9,500
19,626
24,438|
|**Net current assets**|**167,382**
**-**
**167,382**
**172,896**|
|**Total assets less current liabilities**
**13**
Creditors falling due after one year|**169,098**
**-**
**169,098**
**177,894**
(12,500)
-
(12,500)
(22,500)|
|**Net assets**|**156,598**
**-**
**156,598**
**155,394**|
|**Funds of the charity**
Restricted income funds
**14**
Unrestricted funds - general
**14**|-
-
-
156,598
156,598
155,394|
|**Total charity funds**|**156,598**
**-**
**156,598**
**155,394**|
For the year ended 31 December 2024 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.
12/15/2024
Approved by the Trustees on ..................... and signed on their behalf by:
[perl Perella Bridgland OF5FD1DEE273470... by: Treasurer Company number: 08248054
The notes on pages 9 to 17 form an integral part of these financial statements.
8
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
**Notes to the Financial Activities** _for the year ended 31 March 2024_
1. **Accounting Policies**
## **Basis of preparation**
The accounts (financial statements) have been prepared in accordance the Charities SORP (FRS102) 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
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
**Notes to the Financial Activities** _for the year ended 31 March 2024_
**1. 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 charity or the amount actually realised. Gifts in kind for sale or distribution 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
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **TEAM UP FOR SOCIAL MOBILITY LIMITED**
**Notes to the Financial Activities** _for the year ended 31 March 2024_
## **1. 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
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2024_
|**2**
**Grants and donations**
Donations and gifts
Grants receivable for core activities
Restricted grants received:
_Brian Murtagh Charitable Foundation_
_Buzzacott_
_Charles S French Charitable Trust_
0
_ExPat_
0
_FSJ Trust_
_Garfield Weston Foundation_
_Investec_
_Jack Petchey_
_Jane & Michael Davies Charitable Trust_
_Newby Trust_
_Newcomen Collett Foundation_
_Schroders_
_St Olave’s Foundation_
_The 29th May 1961 Charitable Trust_
_The Drapers Charitable Company_
_Tom Ap Rhys Pryce Trust_
_Worshipful Company of Actuaries_
_Worshipful Company of Arbitrators_
_Worshipful Company of Haberdashers_|**Unrestricted**
**funds**
**£**
308
112,537
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**112,845**|**Restricted**
**funds**
**£**
-
-
3,000
2,000
-
-
-
3,000
2,000
-
12,000
-
1,250
3,000
1,000
5,000
10,000
10,000
2,500
1,750
3,600
**60,100**|**2024**
**Total**
**£**
308
112,537
3,000
2,000
-
-
-
3,000
2,000
-
12,000
-
1,250
3,000
1,000
5,000
10,000
10,000
2,500
1,750
3,600
**172,945**|**2023**
**Total**
**£**
525
70,500
-
-
2,000
42,200
1,100
-
-
8,033
15,500
10,000
-
-
-
-
-
-
-
-
-
**149,858**|
|---|---|---|---|---|
Income from grants and donations was £172,858 (2023: £149,858) of which £112,845 was unrestricted (2023: £71,024 ) and £60,100 was restricted (2023: £78,833).
## **3 Charitable activities**
|Grant income:
School tutoring services
University tutoring services
Partnership income
CJRS funding|**Unrestricted**
**funds**
**£**
85,632
48,437
17,460
-
**151,529**|**Restricted**
**funds**
**£**
-
-
-
-
**-**|**2024**
**Total**
**£**
85,632
48,437
17,460
-
**151,529**|**2023**
**Total**
**£**
95,898
52,711
30,602
-
**179,211**|
|---|---|---|---|---|
Income from charitable activities was £151,529 (2023: £179,211) of which £151,529 was unrestricted (2023: £179,211) and £nil was restricted (2023: £nil).
12
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2024_
## **4 Net income**
|This is stated after charging: -|**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Independent examination fee|2,366|2,400|
|Operating lease costs|152|152|
|Depreciation|3,282|3,519|
## **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 was 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**
**£**
18,975
648
**19,623**|**Restricted**
**funds**
**£**
-
-
**-**|**2024**
**Total**
**£**
18,975
648
**19,623**|**2023**
**Total**
**£**
10,020
648
**10,668**|
|---|---|---|---|---|
Costs of raising funds was £19,623 (2023: £10,668 ) of which £19,623 was unrestricted (2023: £10,668) and £nil was restricted (2023: £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**
**£**
195,634
3,282
3,187
3,917
361
4,392
20,722
9,686
2,366
**243,547**|**Restricted**
**funds**
**£**
58,100
-
2,000
-
-
-
-
-
-
**60,100**|**2024**
**Total**
**£**
253,734
3,282
5,187
3,917
361
4,392
20,722
9,686
2,366
**303,647**|**2023**
**Total**
**£**
249,340
3,519
9,846
7,243
153
4,392
20,608
8,126
2,400
**305,627**|
|---|---|---|---|---|
Costs of charitable activities was £303,647 (2023: £305,627) of which £243,547 was unrestricted (2023: £226,794) and £60,100 was restricted (2023: £78,833).
## **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.
13
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2024_
## **8 Staff costs**
|Staff costs comprise:
Salaries and wages
Social security costs
Pension cost|**2024**
**£**
246,099
21,965
4,644
**272,709**|**2023**
**£**
232,865
22,021
4,473
**259,360**|
|---|---|---|
The total remuneration paid to key management during the year, including salary and employer’s pension and national insurance contributions, was £70,810 (2023: £66,801).
The average monthly number of employees on a headcount basis during the period was:
|Programme delivery
Support staff|**2024**
**Number**
8
1
**9**|**2023**
**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 £4,644 (2023: 4,473).
## **10 Tangible fixed assets**
|**Tangible fixed assets**|||
|---|---|---|
|**Cost/valuation**|**£**
**Fixtures and equipment**||
|As at 1 April 2023||24,546|
|Additions||-|
|Disposals||-|
|**As at 31 March 2024**||**24,546**|
|**Depreciation**|||
|As at 1 April 2023||19,548|
|Charge for the year||3,282|
|**As at 31 March 2024**||**22,830**|
|**Net book value**|||
|**As at 31 March 2024**||**1,716**|
|As at 31 March 2023||**4,998**|
14
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2024_
|**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
**13**
**Creditors falling due after one year**
Bank loan
**14**
**Movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Hillingdon
Newham Tuition
Southwark Tuition
Hammersmith Tuition
Tutors
Southside Young Leaders' Academy
Future growth
**Total Funds**
Pupil enrichment|**As at**
**1 April 2023**
**£**
155,394
**155,394**
-
-
-
-
-
-
-
-
**-**
**155,394**|**Income**
**£**
264,374
**264,374**
5,000
16,000
-
2,000
2,000
10,100
15,000
10,000
**60,100**
**324,474**|**Expenditure**
**£**
(263,170)
**(263,170)**
(5,000)
(16,000)
-
(2,000)
(2,000)
(10,100)
(15,000)
(10,000)
**(60,100)**
**(323,270)**|**2024**
**£**
5,000
40,404
6,172
**51,576**
**2024**
**£**
9,001
3,145
4,210
907
2,363
**19,626**
**2024**
**£**
12,500
**12,500**
**Transfers**
**£**
-
**-**
-
-
-
-
-
-
-
-
**-**
**-**|**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**
**As at**
**31 March**
**2024**
**£**
156,598
**156,598**
-
-
-
-
-
-
-
-
**-**
**156,598**|
|---|---|---|---|---|---|
15
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2024_
## **14 Movement in funds (cont.)**
**----- Start of picture text -----**
As at As at
31 March
1 April 2022 Income Expenditure Transfers 2023
£ £ £ £ £
Unrestricted funds
General fund 142,620 250,336 (237,562) - 155,394
142,620 250,336 (237,562) - 155,394
Restricted funds
Internship - 8,033 (8,033) - -
Essex programme - 3,000 (3,000) - -
Programme staff - 42,200 (42,200) - -
West London Tuition - 25,500 (25,500) - -
- - 78,733 (78,733) - -
- 78,733 (78,733) - -
Total Funds 142,620 329,069 (316,295) - 155,394
Fund purposes:
Unrestricted funds:
General fund Represents the general giving and expenditure of the charity.
Restricted funds:
Internship Funds were received in the prior year to finance two interns who supported delivery of the
programmes. They were fully spent in the prior year.
Essex programme Funds were received to to provide a tuition programme in Essex . They were fully spent in the
prior year.
Programme staff Funds were received to fund the costs of new programme staff . They were fully spent in the
prior year.
West London Tuition Funds were received to provide a tuition programme in West London along with our charity
partner. These have been fully spent in the year.
Southside Young Leaders' Academy Funds were received from various grant funders to support the work with Southside Young
Leader's Academy. They have been fully spent in the prior year.
Newham Tuition Funds were received to provide a tuition programme in Newham along with our charity
partner. They have been fully spent in the year.
Tutors Funds were received to contribute towards the costs associated with our team of volunteer
tutors. These were fully spent in the year.
Hammersmith Funds were received to to provide a tuition programme in the Hammersmith district . They
were fully spent in the year.
Hillingdon Funds were received to to provide a tuition programme in the Hillingdon Borough. They were
fully spent in the year.
Pupil enrichment Grant funding was received to facilitiate the pupil enrichment programme. These monies
were fully spent in the year.
Future growth Grant funding was received to fund the future strategic development and growth of the
charity. These monies were fully spent in the year.
**----- End of picture text -----**
16
Docusign Envelope ID: D351E67C-5D08-4969-A4EB-1B3CCC2D60F2
## **Team Up for Social Mobility Limited**
**Notes to the Financial Statements** _for the year ended 31 March 2024_
|**15**
**Analysis of Net assets between funds**
Restricted funds
Unrestricted funds
_General_
**As at 31 March 2024**
Restricted funds
Unrestricted funds
_General_
**As at 31 March 2023**|**Fixed Assets**
**£**
-
1,716
**1,716**
**Fixed Assets**
**£**
-
4,998
**3,600**|
**Net current**
**assets/**
**(liabilities)**
**£**
-
154,882
**154,882**
**Net current**
**assets/**
**(liabilities)**
**£**
-
150,396
**136,795**|**Total**
**£**
-
156,598
**156,598**
**Total**
**£**
-
155,394
**140,395**|
|---|---|---|---|
17