ThlnkForward (UK)
(A Charltabl8 Company Limited by Guarnntse)
Ann￿1 rnwrtand finandal statwnents
Forthè anded 31rt AUg￿t 2021
Company reglstratlon no: 08318590
Registered charIty no: 1152862

ThinkForward (UK)
Reference and administrative detsils for the year ended 31st August 2021
ThinkForward (UK). a company Ilmited by guarantee. registered on 5 December 2012,
company registration nurnber 08318590 (England and Wales). Registered as a charity on
15July 2013, charity registration number 1152862 (England and Walesl-
Charlie Green (Chairl
David Vaughan (resigned 9th December 2020)
Jill Baker
Vanessa Morphet
Robert Craig
Asi Panditharatna
Kathryn Jack
Kelth Ma¢Donald
Daniel Easterbrook (appointed 10 November 20201
Sally Cartwright {appolnted 10 November 20201
Matthew Tate (appointed 12th October 2021)
Chlef Executlvo
Ashley M¢Caul
Prfncipal Office:
337 Clty Road
London
ECIV IU
Independent Audltor:
Moore Kingston Smlth LLP
Devonshire House
60 Goswell Road
London
ECIM 7AD
Primary Banker:
Natwest
Holborn Circus
l Hatton Garden
London
ECIP IDU
Primary Solicitor5:
Travers Smith LLP
10 Snow Hill
London
ECIA 2AL

ThinkForw8rd {UKI
Table of contents
Chair and Chief Executive's report
Trustees, report
l) Objertives, actlvlties & performance
2> Public benefit
31 Financial revlew & reserves
41 Remuneration policy
5) Key risks and uncertainties
61 Fundraising policy
71 Information Governance
81 Future Plans
91 Structure, governance & management
101 Trustees. responslbility ststement
Independent auditor's report
Ststement of financiel activities
io
li
12
12
14
14
14
15
16
18
23
Balance Sheet
24
ststement of cashflows
25
Notes to the financial statements
26

ThinkForward IUKI
Chair and Chief Executlve's report
2020/21 year was one of the most operationally challenging years in our hlstory. It
required us to continue navigating a world which was unrecognisable both to us and the
young people we serve.
We continued to dellver servlces durlng the lockdowns, moving to digital when required
and doubling down on securing our rolationshlps with our young people. We worked in
collaboration with our schools to extend safeguarding capacity helping to keep our young
people safe and we prioritised the wellbeing of our staff, enabling us to continue our work.
Given the challenges that arose. we feel enormous pride in the programme of work
undertaken during the year. We have developed an ambitious 5-year strategy which we
believe sets the foundations for the next stage of our evolution. We want to continue to
refine 'what works, in terms of the impact of our programmes. We want to increase our
reach, grow our income and become more sustainable. All of which we believe are
achievable through the delivery of our 5-year plan.
Asa youth organisation with a strongcommitmentto youth participation. we have deliv6red
on our pledge to recruit two new "young trustees" to our Board. Our young trustees bring
8 lived experience of challenges through their education journey. overcomlng barriers to
employment and living wlth disability. Together. they bring a refreshing young person'5
perspective into our decision-making processes.
Embarking upon a race equality Joumey during such uncertain times speaks to our drive
and commitment to create a fairer society for our young people. Also, we wanted to make
a statement in response to the injustice playing out around us during the pandemic. With
the support and guidance of our outstanding equalities consultants we undertook staff
training and development and we partlcipateé in the #youngandblaek national campaign.
Both these strands of work have shaped the kind of organisation we want to be and the
way in which we will operate in our sphere of influence.
Looking to the year ahead, we belleve we have the requlred focus and resilience to
continuing dellverlng high quality coaching programmes to our wonderful ¢omrnunity of
young people.
Charlle Green, Chalr
AshleyM¢Caul. ￿lerExeCutIve

ThinkForward IUKI
TruGtee8' report for the year ended 3tst August 2021
The board of trustees of ThinkForward IUKI are pleased to present their annual trustees,
report together with the audited financial statements of the charity for the year ended 31
August 2021 which are also prepared to meet the requirement for a directors, report and
accounts for Companies Act purposes.
The financial statements Comply with the Charities Act 2011, the Companies Act 2006,
the Memorandum and Articles of Association, and Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting stsndard applicable in the UK and Republic of
Ireland IFRS1021.
OBJECTIVES. ACTivmES, PERFORMANCE
OBJECTIVES
The organisation set the following objectives for the year:
Develop a new five-year strategy
Ref ine our identity including with a new vision. mlssion and logo
Create an Equity. Diversity and Inclu51on plan
Evaluate our programmes
ACTIVITIES
New flvLxyear strategy
Against the backdrop of the Covid pandemic. we developed our new five•year strategy
which takes us to 2025. This provides a framework for us to meet our goals of impact,
sustsinability and growth and an ambition to double our income to £5m and to increase
the number of young people we reach to 1,500 per year.
We could not have developed the new strategy In such demanding ¢ir¢umstances - In
the middle of a global pandemic - had it not been forthe support of Bain Consultingand
Impetus. We are forever grateful for their rigour, robust challenge and ambitious
imagi'ning of our future.
We believe the new strategy will enable ThinkForward to mature into a stronger
organisation that will be even better equipped to empower young people to have the
better and brighter futures they dese￿e.

Our five-year strategy has four main objectives".
L Reflne and expand our programm8s for young people wlth SEND
Successfully deliver our DFN-MoveForward Social Impact Bond and
evaluate its impact
Grow the number of young people supported through new SEND
programmes. Broaden the reach of these programmes for young people
who have left education and are unemployed
Leverage employer partnerships to create more supported pathways to
employment and entry level jobs for SEND young people.
2. Refine the Futureme programme - our core programrne dollvered In school8
Continue to support 900 young people per year, further embedding
our work in schools and the wider community
Conduct en external evaluation and refine aspects of the programme's
design
Respond to the changing needs of young people and our schools by
packaging up our coach-led activities in different ways.
3. Become a thought leader
We will make recommendations to local and national decision makers by:
Using our growing evidence base of what works
Sharing young people's experiences of being on our programmes
Joining forces with other youth sector organisations.
4. Beoome a capablllty partner
Where our partners have a common goal of improving employment outcomes for
young people we will share our expertise and resources on:
Coaching
Employment & job creation
Equity, diversity & Incluslon.
We will achieve our goals and objectives through the following initiatives:
Carry out independent evaluations
Improve our abllity to track impact
Become financially sustainable
Grow our strategic partnerships
Transform our work digitally
Grow our SEND programmes to reach more young people
Refine Futureme to support more young people
Build on our unique coaching model
Develop our organisation and team.

Refine our identlfy
In response to the new strategy, we developed a fresh vision, mission and logo which
embrace our new objectives and provide breathing space to rernain relevant as we grow.
We also wanted to highlight the unique coaching relationship that is at the heart of what
we do.
Vlslon
That every young person is empowered to gain the confidence. independence, and skills
they need for a better and brighter future.
Mlsslon
ThinkForward delivers unique, personalised coaching programmes for young people at
key stage in their lives, enabllng them to overcome the challenges they face and make a
successful transition into work. Every young person tskes part in workplace activities to
develop their life goals and readiness for work. We raise the voices of our young people
and support employers to provide fair access to opportunities.
The much-loved lightbulb remains in the logo but our strapline has changed from
'Successful school to work transitions, to 'Coaching Connecting Inspiring Young People,
and is positioned to the side of the lightbulb, rather than underneath. We also have a
new, more vivid colour palette.
We'd Ilke to thank every young person who contrlbuted their cre8tivity and insights
throughout the process. They also provided valuable opinions as we edged closer to the
final decisions, enabling us to ensure our visual and written identlty spoke in a
meaningful and effectlve way to our most important audience young people.
We also wanted our two programmes to have their own distinct identity. To provide
clarlty, and give us scope to develop new programmes, the name of the ThinkForward
programme was changed to Futureme. We consulted stsff on different options and there
was also a staff vote. The DFN-MoveForward programme name remains the same.
Create an Equity, Diversity and Incluslon plan
In the summer of 2020, the murder of George Floyd shone a very stark light on the Issue
of race equality. We reflected deeply on what this meant for us as an organlsation and
also commltted to developing an equity. diverslty and inclusion plan.
This plan is at the heart of how we will flourish both as an organisation and in our work
with young people. Cruclally, we will be accountsble for delivering on corntnitments made
In the plan, and we will publlcly report on our progress every year.
To succeed in our future ambitions, we need to model the velues, behaviours, and
culture that we wish to See in our partners, funders and in the world around us. We know
that in leading a programme of change. it is essential that we strive for diversity in
leadership roles.
We took action to ensure our trustee and young trustee recruitment in 2020 reflected
these ambitions, and now have a more diverse board. We are also continuing to identify
ways to nurture existing and aspiring managers and create development opportunities
wherever possible.

We believe there is an important link between diversity and inclusion and improved
social mobility. Through our SEND programme. we are already promotingfair access to
opportunities for young people. We aim to extend the conversation to all of our employer
partners to explore how we can support them to improve their approach to recruiting and
retaining more diverse talent.
Equity, Dlver5ity and Incluslon Manlfesto
We aim to create an environment where all can thrive. We will lead from the front by
placing equity. diversity and inclusion at the heart of all we do as an employer, in our
work with young people, and within our sphere of influence. We value creativity,
productivity, good decision-making and reputation. and we know that good equity,
diversity and inclusion practices will build these.
We are workingto create a world where our young people are more likely to thrive and
the absence of uniformity is considered a strength. We want learning and challenging the
status quo to be considered progressive, and where people's ethnicity. gender, age.
sexual orientation. religious beliefs. disablllties, learning abilities or socio-economlc
origins are not the defining characteristics of their potential for success.
Young 8nd Black Project
In the summer of 2021 we launched our Young and Black project which aimed to
harness the energy, passion and activism of our young people. We wanted our black and
brown young people to have a platform to share their stories and feelings and campaign
for change, whilst creating a wider understandlng amongst our white young people of
allyship and antl-raclsm.
Coaches ran Young and Black s&ssions for our young people, creating a safe space for
them to share and learn about racism. They also hosted creatlve workshops where young
people made pleces of art that represent how theyfeel about race and identity. The
artwork sat alongside personal pledges in a specially commlssioned printed hardback
booK, and onllne in a virtual art gallery, both of which were launched in November 2021.
The book contsined 96 pages. and 50 pleces of art and 61 pledges were pr¢xlu¢ed by
our young people.
Learning about and exploring race. identity and equality also developed young people's
work ready capabilities such as communication skills, self-awareness & resilience. They
also developed confidence in their own identity so they can be their authentic self in the
world of work.
The project wa5 inspired by the Young and Black campaign launched by UK Youth and
supported by our corpor8te partner Citi.
Evaluate our programmes
As part of our strategy we pledged to carry out a series of independent evaluations on
our two programmes and our Work Readiness Capabilitles IWRCS).
We conducted a process evaluation of the Futureme programme to flnd out how
effective we are in delivering the programme and if we are gathering the right dat8 to
measure our impact.

During the summer of 2021 and reviewed the level of activity delivered under our
programme promise and carried out an assessment of coaching capacity.
We will shortly receive a comprehensive written report detsiling the full research project.
including methods used, analysis and findings, as well as the conclusions and
recommendations.
Following this. the next steps will be working to identify appropriate short-term outcomes,
and too15 to measure them. We will also analyse gaps in current dats capture and the
options to addressthese, and implement new systems, plans for future analysls and
report as required.
We carried out a review of our Work Readiness Capabilities {WRCI framework to identify
if It captured the correct things in an evidence-based approach and assessed other
available and appropriate tools to potentially pilot, test and use. This process included
asking our young people for feedback on the WRC framework and our approach to using
the capabllities.
Additionally, we stsrted the process of reviewing the DFN-MoveForward programme. Thls
included looking at data collection and measurement tools, understsnding what works
and why, and the structure of the programme promise. We want to ensure consistent
delivery of the programme across all regions and have a robust dataset so we are in a
strong position for a comprehensive final evaluation. There wlll also be a final evaluation
of our Social Impact Bond.
PERFORMANCE
Impact
We track the outcomes of our young people who graduate from our Futureme
programme for a year so we can build up a sustained picture of their progress.
We know that for the young people who left the programme In the summer of 2021, 80%
were in education, employment or training IEETI in the three-month period after
graduating {September - November 20211. Of these, 45% were in employment. 18%
were in education and 17% were in employment and education.
These are fantsstic achievements for our young people. many of whom face significant
challenges in their lives, in a very difflcult economic and soclal environment.
In 202 1 the DFN-MoveForward programme worked with 189 young people with
additional needs across London, Kent an(J the West Midlands.
The aim of the programme is to prepare young people to get ready for sustainable pald
employment and then support them to find a job. We'rè delighted that 14 MoveForward
young people started a paid job of rnore than 16 hours a week in 2021.
These results are possible thanks to the blend of coaching and employability activities
that young people take part In. Our coaches held 486 one-t(Fone Coaching sessions and
there were 422 group work attendances and 622 employer event attendances.
When young people retumed to school in September 2020 after the summer break, they
continued to experience significant disruption to their education. As a result. we contlnued

to flex our delivery model in the line with the situation and policies in each individual school
and the circumstances of our team.
Our employability activities were delivered digitally which worked well and allowed young
people from different regions to tske up opportunities from partners across the country.
In January 2021 schools closed again as the country entered another period of lockdown
due to the Delta COVID variant. Once again. our response focused on providing additional
emotional. mental health and practical support for young people and their families. Many
young people were now in receipt of laptops and data secured through a range of
fundraising and partner initiatives organised by ThinkForward. so their abllity to access
remote learning was enhanced.
Having set up remote working and programme delivery as a result of the first lockdown,
we were well placed and had a smooth transition duringthe second and third lockdowns.
As things eased after Easter. coaches were able to return to school on a ¢ase-by<ase
basis, according to the guidelines In their school and government rules.
Youth engagemont
Youth participation has become an integral part of our programme promise, with more
than a hundred young people joining as ambassadors and youth board members.
We received fundingfora new internship postfor one year and recwited a Communication
and Youth Participation Officerwho started in March 2021 to work with the National Youth
Participation and Insights Offlcer. They. together with our business partnerships managers,
deliver the youth participation work.
Young people on our DFN-MoveForward programme are now also part of our ambassador
programme which develops peer leadership skills. Fourteen young people are members of
our youth board, representing their peers and community. They also ctrdesign our youth
board and ambassador programmes.
Our two young trustees, including an alumna from the Futureme programme In
Nottingham, continue to support the youth board, as well as representing the interests of
young people at the adult board.
Public ben8fft
The objects of ThlnkForward are to help young people to have better and brighter futures
by enabling them to develop the confidence, independence, and skills, they need to
participate In society as autonomous, mature and responsible individuals. All our
charitable activities benefit the public by their nature. We work to prevent young people
becoming unemployed and enable them to contribute more fully to society. Our services
are free at point of delivery (for the young person) and we support a wide range of young
people of different ages, backgrounds and abilities.
In shaping our objectives for the year and planning our activities. the trustees have
considered the Charity Commission's guidance on public benefit, including the guidance
'public benefit: running a charity IPB21' The trustees confirm that they have complied with
the duty in section 17 of the Charities Act 2011 to have due regard to public benefit
guidance published by the Charity Cornmission.
io

Flnancial revlew
Incorne for the year was £2.46 million which, given the pressures we and all those in the
sector faced was a remarkable achievement. We thank all of our loyal and generous
SUPPOrters who believed in the importance of supporting our work during the lockdown
restrictions. Our fundraising and executive leadership are to be applauded for these
impressive efforts.
Our income is made up predomlnantlyof grants and donated income from a mix of funders
including individuals, corporates and charitable trusts. We also secured programme
contrlbutlons from all of our schools in 2020-21.
In the year to August 2021. we delivered a surplus of £38k, with expendlture totslling
£2.42 million12020- £2.45 million). To ensure we deliver the highest-quality programme,
we invest over 80% of our costs on our highly qualified staff. Our operations and support
costs account forjust over 22% of expendlture.
Workingacross manyschools and colleges we supported 1,086young people Sn 2020/21.
On average at any one tlme we had 960 young people on the programme which indlcates
an average annual cost per place of£2.52412020 total £2.5891.
ThinkForward's balance sheet shows total net assets of £0.95 million at August 2021
IAugust 2020 £0.91 million) of which £0.92 million was unrestricted {August 2020
£0.80 million).
Last year trustees designated £105,560 of funds in support of the organisational and
infrastructure development. Most of this was expended in 2020/21. In August 2021 the
trustees agreed to designated funds of £13,515 equ81 to the net book value of fixed
assets.
Flnanclal 8ecurfty and 8ustslnablllty
As the UK struggled through a second year of pandemlc. the financial pressures on the
whole charSty sector. and the soci81 pressures on our vulnerable set of beneficiaries
intensified. ThinkForward successfully demonstrated the value and importance of its
programmes to all its stakeholders. The ability of our staff team to adapt, our schools to
respond positively and our young people to continue to engage was gratifying and a
testamentto ourteam's abilityto adaptour programmes with continued quality ofdelivery.
This was reflected in the belief in our flexible and robust approach by our funders.
Thls response has given our trustees the confidence in the whole te8m to weather thls
storm and they believe we can continue on our strategic path with our current set of loyal
funders alongside new organisations who believe In our work. We know the tough funding
environment will make this hard work but those funders who recognise the real value of
an evidence-based, long-term programme with demonstrable impact will continue to
support us.
Reserves policy
The finance risk & audit committee. on behalf of the board of trustees, conducts an annual
review of the level of free reserves (being unrestricted rese￿eS less nonwcurrent assets) in
the general fund by considering risks associated with the various income streams.
expendrture plans and balance sheet items. This enables an estimate to be made of the
level of free reserves that are sufficient, having considered:
li

The reasons we need reserves
The potential impact of exlernal factors outside our control
The tlme required for reorganisation in the event of a downturn in income
How to protect ongoing work programmes
How to allow the charity to meet its working capital requirements
How the policy and reserves will be monitored and reviewed.
ThinkForward had free reseNesof£O.91m12020., £0.68ml and a cash position of £1.41m
12020: £1.04ml at the balance sheet date.
Free reserves at 31 August 2021 of £0.91m equate to approximately four month's
operating expenditure. The trustees have calculated that between £0.6m and £lm,
equating to between three and five months of current annual operating expenditure is
needed to meetthe above requirementsand our current reserves total is within that range.
Our high cash levels give further reassurance that we are In a strong financial position.
Remuneration pollcy
ThinkForward is committed to paying staff a fair and appropriate salary, to ensure we can
attract and retain people with the skills and abilities to deliver our objectives. Our approach
is guided by the followSng principles:
We provide a total reward package which recognises contribution to the
achievement of our aims
Our reward offering will be competitive in the marketplace from whlch we dr8W the
people we need
The reward decisions we make will be based on an objectlve assessment of
performance and of our organisational needs
We have completed an external review of our current remuneration policy and are in the
final stages of consulting and implementing the recommended Improvements.
Key rf8ks and uncertalntl8s wlth plans and strategies for managlng those r18k8
The trustees are responsible for ensuring that there is an effective system for the
management of the risks faced by ThinkForward and have implemented a broad range of
risk management processes considered adequate for the organisation's needs and to
minSmise risk. We proactively manage our risks and have identified some key areas for
ongoing attention;
L Safeguardlng
Since the charity works with vulnerable children and families, safeguarding is consldered
the greatest inherent risk in our work. The charity has a framework of ¢onsents, controls,
policies and reviews to mitigate the associated risks. These are reviewed and updated at
least annually. Our focus on trainlng and supervision is key to ensuring good practice. A
dedicated team supports safeguarding processes wlth a reporting systern which ensures
that concerns areflagged, and information communicated rapidly and securely. We deliver
continually updated safeguardingtraining for staff every year based on an extensive review
and update of our safeguarding policy which Is regularly review by Trustees. The board
reviews safeguarding data at every bi-monthly board meeting.
In the context of Covid-19 we intensified our f¢XUS on safeguarding, due to lockdown and
ongoing restrictions placing increased pressure on families. We played a key role by
extending the safeguarding capacity of our schools. We reviewed all our young people to

Identify those who were most vulnerable and increased the regularity of check-ins with
them. We liaised with schools where we could notget in touch with young peopleto ensure
an appropriate response.
2. School retsntlon and engagement
Retaining schools remalns high risk for us due to the integration of our delivery within our
partner schools. A loss of a school can mean a number of young people can no longer
access our support part way through our programme. Sadly, one of our schools exited the
programme this year, We have maintained support for the Y12 and Y13s in that school
cohort. We continue to extend our abilityto demonstrate the positive impact ThInkFo￿ard
has in schools to showcase the value for money that we offer. We Can support
improvements in behaviour and attendance alongside reducing exclusions. Our young
people develop improved self-regulation and contribute posltively to s¢hool life. Our
breadth of ready for work activities also support schools to meet their Ofsted requirements
and Gatsby 8 benchmarks.
During lockdown, schools were impressed wlth our continuing delivery and saw it as a key
support service for their most vulnerable students. We continued regular impact reporting
across the spring and summer, showcasing the value of our support. Enhancing and
improving our relationships with the schools we work in will be a l(ey component of our
new strategy.
3. Golng concern
The trustees have continued to review the charlty's current and future fundlng prospects
in the light of the current economic and funding situation and have reassured themselves
of the charity's abilltyto continue as a going concern.Trustees have made this assessment
for a period of at least one year from the date of the approval of the financial statements.
The executive team, wlth the support of the board, has continually assessed dellvery
models, staffing. funding arrangements and financial controls and put contingency plans
In place to make sure that ThlnkForward remains focused on its strategy and vision. Our
planning processes, including financial projections, have taken into consideration the
current economic climate and its potential impact on the various sources of Income and
planned expenditure, We hold high cash levels and have a track record of securing funds.
There have been and there will continue to be many financlal Impacts due to Covid-19
restrictions and we have increased internal scrutiny of our financials, developlng longer-
term forecasts and scenario modelling tools to plan for dlfferent outcomes. We know our
work will become increasingly important in response to the ramlficatlons of the pandemic
on young people'5 employment prospects and the adaptation of our delivery models has
demonstrated the ongoing need.
We have had a close focus on staff wellbeing over this perlod. ensuring that despite
increased remote working, our team is appropriately supported, safe and secure. The
executive team believesthat all the measures tsken means the stsff team wlll continue to
operate successfully over the next 12 months.
The trustees believe that there are no material uncertainties that Call into doubt the
charity's ability to continue in existence for the foreseeable future. Trustees are of the
opinion that ThinkForward will have sufficient resources to meet its liabilities as they
13

become due. The accounts have therefore been prepared on the basis that the charity is
a going concern.
Fundralslng policy
Our approach to fundraising rests on posltive supporter engagement in orderto enable us
to attract, steward and maintain support. but also to protect our reputation. Trustees and
staff are aware of the need to proteet the public, and especially vulnerable people. hence
no cold calling, telephone or street fundraising is carried out, and no performanctrrelated
bonuses or inducements are made to staff or volunteers. We have limited income from
direct donations from the public and these commitments come almost exolusively from
those who are involved in our work in some way. Our income mainly comes from Gorporate
supporters, major donors. schools and trusts. No professional fundraisers or commercial
participators carried out any fundraising activities on behalf of the charity - we employ our
fundraisers directly. No complaints have been made relating to fundraislng for the charity
in the last 12 months.
The charity is registered with the Fundraising Regulator IFR}. We continue to monitor
amendments to the Institute of Fundraising's Code of Fundraising Practice to make sure
we comply with their fundraising practices and that our own operational policies are
regularly updated. We are satisfied that we meet all current standards. ThinkForward
adheres to Charity Commission guidelines, particularly CC20 Icharity fundraising: a guide
to trustee duties). Trustees are aware of the commission's six fundraising principles and
ensure adherence by charity stsff: effective planning: supervision of fundraisers:
protection of charity reputation, money and other assets: ensuring compliance with laws
and regulations; following recognised standards; openness and accountsbility.
Fundraising practices are monitored through a designated trustee who engages in regular
oversight of the charity's Director of Fundraising and Communications and formally reports
to the board. We ensure the charity's compliance with General Data ProtectSon Regulation
IGDPRI. particularly with regard to the use of personal data for fundraising purposes.
Infomatlon governance
ThinkForward is a data controller in its own right. Close attention is paid to data protectlon
risks across the whole organisation, as a reflection of our concern for our stakeholders,
and for the reputatlon of the charity. We will continue to monitor ¢ompliance with legal
requirements. We regularly review and update policies and procedures to reflect updated
guidance on GDPR requirements and best practice.
Future plan8
ThinkForward's future plans are detsiled in its published five-year strategy and outlined In
the Activities section above. The forward plans are currently on track and, tsking risk
mitigation into account, trustees are confident in the executive team's ability to deliver the
plans as defined.
Over the summer of 2020 we collaborated to develop a new five-year strategy to which we
are still operating. We were ably supported with pro bono expertise from Bain & Company
and consulted widely with key stakeholders. These included current and potential funders,
schools, our stsff, young people on our programmes and strategic partners.
The rigorou5 process challenged our assumption5 and set a clear direction for the next five
years alongside an agile approach that supports an adjustmentto plans asthe longer-term
impacts of Covid-19 unfold.
14

Over the next five years our priorities will include:
Evaluating r)ur programmes externally
Growing our reach through increasing the number of young people we work with
Piloting adaptions of our existing programmes using a test and learn approach
Developing our digitsl capabilities both internally and as part of our offer
Continuing to build strong strategi¢ partnerships across education. government and
employers
Further developing our role as a thought leader in our field and supportlng other
organisations to develop evidence-based best practice.
Key plans include:
Continuing our impact work through improving the range and consistency of
outcomes dats, revlewing what the dats is telling us about what is most effective
and impactful in our approach, and developingextern81 benchmarks against which
to measure ovr performance
Working with external evaluators to clarify the social retum on investment of our
work as well as further evidencing our impa¢t
Revlewing ourorganSsational structure and howthatsupportsthe developmentand
nurturing of external partnerships of all kinds
Developing small pilots of programme adaptions to extend our offer and support
development of our knowledge of what works and how
Developing a digital strategy which ensures we embed a digital approach across all
strands of our organisational strategy, taking advantage of emerging technology
and ensuring our ability to deliver in the face of ongoing Covid-19 restrictions
Investing in our stsff and organisation infrastructure to ensure strong foundations
for growth
Focusing on developing both longer-term and government funding to enable us to
reach more young people.
Structure. governance and management
ThinkForward UK I"ThinkForward"l is a registered charlty and a company Ilmlted by
guarantee, The governing document is a Memorandum and Articles of Association.
The governing body of the charity is the board of trustees, members of whom are set oui
on page 2 of this report. The appointment of a new trustee to the ThinkForward board of
trustees takes place after due consideratlon from l)oth parties to ensure a good strategsc
fit for the board and the prospective trustee. In the last year we reviewed the skills of our
board and identified gaps. Following the resignation of one trustee, we recruited one new
trustee to address skills gaps.
Our young trustees continue to provide a vital youth voice at the most senior decision-
making level. They support the operation of a Shadow youth board (connected to all our
regions) which will gather the views of our young people to ensure our young trustees are
able to voice these at board level and throughout the orEanisation.
New trustees can visit the programme and meet key members of staff in order to gain a
good understanding of ThinkFoward's work. our newly introduced virtual induction has let
newtrustees meeta wider pool ofstaff and stakeholders more easilythan previously. They
are also briefed on their legal obligatlons under charity and company law, the content of
the Memorandum and Arti¢les of Association, the committee and decision-making
processes. the business plan and recent financial performance of the charity. Trustees are
15

eligible to attend appropriate external training events where these will facilitate the
undertaking of their role.
The board sets strategy and reviews the programme's performance. Day-to-day
responsibility is delegated to the chief executive. who works closely with the chair and
trustees. The board meets bi-monthly. The move to virtual meetings has been retained -
it inGreased attendance and participation of trustees.
There are three sub-committees to the ThinkForward board: the finance. audit & risk
committee, the fundraislng committee an(i the programme and evaluation committee. The
purpose of these is to ensure in-depth review and oversight of critical parts of our activities.
Collectively, these committees seek to ensure that the specific areas of focus are led,
where possible, by trustees.
Tru8tee8' responslblltty ststement
The trustees are responsible for preparing the report of the trustees and the financial
statements in accordance with applicable law and Unlted Klngdom Accounting Stsndards
{United Kingdom Generally Accepted Accounting Practice).
Company 18w requires the trustees to prepare flnancial ststements for each financlal
period that 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 those financ681
statements, the trustees are required to:
Select suitable accounting policies and then apply them consistently:
Comply with applicable accounting standards, including FRS 102, subject to any
material departures disclosed and explained in the financial ststements,.
State whethera Ststement of Recommended Prartice ISORPI applies and has been
followed, subject to any mater5al departures whlch are explained in the flnancial
statements.
Make Judgements end estimates th8t are reasonable and prudent;
Prepare the financial ststements on a golng concern basis unless it is inapproprlate
to presume that the charitsble company will continue in business
The trustees are responsible for keeping proper accountlng records which disclose with
reasonable accuracy at any time, the financial position of the charitable company, and to
enable them to ensurethatthe flnancial ststements complywith the CompaniesAct2006.
The trustees are responsible forthe malntenance and integrityof the corporate and financial
information included on the T h i n kForwa rd website. Legislation in the United Kingdom
governing the preparation and dissemination of the financlal statements may dlffer from
legislation in other jurisdlctions.
Theyare also responsible forsafeguardlngtheassetsof the charitablecompanyand hence
for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
In so far as the trustees are aware:
There is no relevant audit information of which the charitsble company's auditor is
unaware". and
16

The trustees have taken all the steps that they ought to have taken to make
themselves aware of any relevant audit information and to establish that the
auditor is aware of that Information
The tru5tees' report is approved by the trustees on 51h May 2022 and signed on their behalf
by:
arfle Green, C1￿1r
Date M8y2022
17

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THINKFORWARD (UK)
Oplnlon
We have audited the financial statements of ThinkForward IUK} I'the company'l for the
year ended 31 August 2021 whlch the Statement of Financial Activities. the Summary
Income and Expenditure Account, the Balance Sheet, the Cash Flow Ststement and notes
to the financial statements, including significant accounting policies. The flnancial
reporting framework that has been applied in their preparation is applicable law and
United Klngdom Accounting Standards. including FRS 102 'The Financial Reporting
Stsndard Applicable in the UK and Republic of Ireland. {United Kingdom Generally
Accepted Accounting Practice}.
In our oplnion the financial ststements:
give a true and fair view of the stste of the charitable company's affairs as at 31
August 2021 and of its incomlng resource5 and application of resources. Includlng
its income and expenéiture. for the year then ended;
have been properly prepared in accordance with United Klngdom Generally
Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act
2006.
Bas18 for oplnlon
We conducted our audit in accordance wlth International Standards on Audlting {UKI IISAS
IUKII and applicable law. Our responslbllities under those standards are further described
in the Auditor's Responsibilities for the audit of the financlal 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 UK, including
the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe thatthe auditevldence we have obtalned
is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditingthe financial ststements, we have concluded thatthe trustees, use ofthe going
concern basis of accounting in the preparation of the financial statements Is appropriate.
Based on the work we have performed. we have not Identlfled any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt
on the charitsble 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 trustees with respect to going concern
are described in the relevant sectlons of this report.
Other Informatlon
The other information Comprises the information included in the annual report. other than
the financial statements and our auditor's report thereon. The trustees are responsible for

the other Information contained within the annual report. Our opinion on the financial
statements does not cover the other information and, except to the extent othe￿iSe
explicitly stated in our report. we do not express anyform of assurance conclusion thereon.
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 course of the audit or otherwise appears to be materially misstated. If we
identify such material inconsistenGies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial
ststements themselves. If, based on the work we have performed, we conclude that there
15 a material misstatement of this other information. we are required to report that fact.
We have nothing to report in this regard.
Oplnlons on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees, annual report for the financlal year for which
the financSal 5tstements are prepared Is ¢onsistent with the financial statements".
and
the trustee5' annual report has been prepared in accordance with appllcable legal
requirements.
Matters on whlch wo are requlred to report ty exceptlon
In the light of the knowledge and understanding of the company and its envlronment
obtalned in the course of the audit, we have not identified material misstatements In the
trustees, annual report.
We have nothing to report in respect of the following matters where the Companles Act
2006 requires us to report to you if, In ovr opinion:
adequate accounting records have not been kept. or returns adequate for our audit
have not been received from branches not visited by us; or
the financial statements are not in agreement with the accountlng re¢ords and
returns. or
certain disclosures of trustees, remuneration specrfied by law are not made: or
we have not received all the information and explanations we require for our audit;
or
the trustees were not entitled to take advantsge of the small companies exemptlon
from preparing a strategic report.
RespO￿lbIlItieS of t￿￿ts88
As explained more fully in the trustees, responsibilities statement set out on page 16, the
trustees (who are also the directors of the charitable company forthe purposes of company
lawl are responsible for the preparation of the financial statements and for being satisfied
that they give a true and fair view. and for such intemal control as the trustees determine
19

is necessary to enable the preparation of financial ststements 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, disclosin& 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 realisti¢ alternative bLrt to do so.
Audltor's Responslbllltles for the audlt of the fflnanclal ststements
Our objectives are to obtain reasonable assurance about whether the financial statements
as8 whole arefreefrom material misststement, whetherdue to fraud or error, and to issue
an auditor's report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audlt conducted in accordance with ISAS IUKI
will always detect a material misststement when it exlsts. Mlsstatements can arise from
fraud or error and are consldered material if, individually or in aggregate, they could
reasonably be expected to influence the economic decislons of users taken on the basis
of these financial statements.
As part of an audit in accordance with ISAS IUKI we exercise professional judgement and
maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of material mSsstatement of the financial statements,
whether due to fraud or error. design and perform audit procedures responslve to
those risks, and obtsin audit evidence that is sufficient and appropriate to provide
8 basls for our opinion. The risk of not detecting a material mlsstatement resulting
from fraud is higher than for one resulting from error. as fraud may involve
collusion, forgery, intentional omissions, misrepresentations. or the override of
internal control.
Obtain an understanding of Snternal control relevant to the audSt Sn order to design
audit procedures that are appropriate In the circumstances, but not for the
purposes of expressing an opinion on the effectiveness of the charitable ¢ompany's
internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness
of accounting estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concern basis of
accounting and. based on the audit evidence obtained. whether a material
uncertainty exists related to events or conditions that may cast ssgnificant doubt on
the charitable company's ability to continue as a going concern. If we conclude that
a material uncertainty exists, we are required to draw attention in our auditor's
report to the related disclosures in the financial statements or. If such disclosures
are inadequate, to modify our opinion. Our ¢onclusions are based on the audit
evidence obtained up to the date of our auditor's report. However, future events or
conditions may cause the charitsble company to cease to continue as a going
concern.
20

Evaluate the overall presentstion, structure and content of the financial
statements, including the disclosures. and whether the financial statements
represent the underlying transactions and events in a manner that achieves fair
presentstion.
We communicate with those charged with governance regarding. among other matters,
the planned scope and timing of the audit and significant audit findings, including any
significant deficiencies in internal control that we identify during our audlt.
lanation as to what extentthe audit was consldered capable of detectlng IrrBgularftles,
Including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations.
We design procedures in line with our responsibllities. 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.
The objectives of our audit in respect of fraud. are; to identify and assess the rlsks of
materlal misstatement of the financial statements due to fraud. to obtain sufficient
appropriate audit evidence regarding the assessed risks of material misstatement due to
fraud, through designing and implementing appropriate responses to those assessed
risks; and to respond appropriately to instances of fraud or suspected fraud identified
during the audit. However. the primary responsibility for the prevention and detection of
fraud rests with both management and those ¢harged with governance of the charitable
company.
Our approach was as follows:
We obtsined an understanding of the legal and regulatory requirements applicable
to the charitable company and considered that the most significant are the
Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financi81
reporting standards as issued by the Financial Reporting Council.
We obtained an understandingof how the charitsble company complles with these
requirements by disGussions with management and those charged with
governance.
We assessed the risk of material misstatement of the financial statements.
including the risk of material misstatement (Jue to fraud and how it might occur, by
holding discussions with management and those charged with governance.
We inquired of management and those charged with governance as to any known
instsn¢es of non-compliance or suspected non-compliance with laws and
regulations.
Based on this understanding. we designed specific approprlate audit procedures
to identify instsnces of non-compliance with laws and regulations. This included
making enquiries of management and those charged with governance and
obtaining additional corroborative evidence as required.
21

There are inherent limitations in the audit procedures described above. We are less likely
to become aware of instances of non-compliance with laws and regulations that are not
closely related to events and transactions reflected in the financial statements. 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.
Use of our raport
This report is made solely to the charitable companls members, as a body, In accordance
with Chapter 3 of Part 16 of the CompaniesAct2006. Ouraudit work has been undertaken
so that we might state to the company's members those matters we are required to state
to them in an auditor's report and for no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibility to any party other than the charitsble
company and charitsble company's members as a body, for our audit work. for this report,
or for the opinions we have formed.
Andrew Stickland (Senior Statutory Auditor)
for and on behelf of Moore Kingston Smlth LLP, StatLrtory Auditor
Devonshire House
60 Goswell Road
London
ECIM 7AD
Dats: 9 May 2022
22

ThlnkFovAYard (UK)
Statoment of flnanclal 4cWvrtlgs IlnMrporatlng in InGom• aThJ •xpendliur• a¢¢ounti
Forth• y•ar •nd•d 31 August 2021
Y￿r •nd•d
31 Aug 2021
Total R88trtct•d Unrwtrl¢t•d
Y•ar on(l•d
31 Aug 2020
Total
Restrlctod Unt••trl¢t•d
Note
In¢on7e:
Donotlon$ and l•98d•$
677.028
1,019.345
1,696,971
879,662
865,927
1,745.689
ChArttabl• Acbvitkqs
2b
169.502
593,948
763,460
211,190
627,8QO
838.990
Tolal In¢om•
847.128
1,613,293
2,46OA21
1,090,852
1,493,727
2.584,579
Exp•ndlturn:
RaI￿n9 lund8
2$8,845
303,338
303,336
Ch•rrt¥bb g¢bwlts'e6
931,e60
1,232.385
2,104,045
982.223
1,163,818
2,140.63•
Total •xpendltur•
931.660
1,491.230
1422,890
962,223
1,4a6,954
2,449,177
Not rnovom•rt In IuDd• lor
184,5321
122,063
37,S31
108,829
28,773
13S,402
Fund• •tth •t•rt olth• ymr
12
108,629
602,480
911,OJ•
775,687
77S,067
Fundi It the •nd ofth• yur
12
24,097
924,523
948,620
108,629
802,480
911,089
All of the above re$utts •r• derived from conllnukng gclivitkns. Th•r• ￿r0 no Qlher re￿9n￿l•d gllni or lo1￿ oth•r Ih•n Iho
•tstsd •bov•. Mo¥•m8nts sn fund8 ar• dls¢lo8od In Noi• 12 to the flnanclal 61at•rrrJnts.
Thg not¢• on p8981 28 to 34 fomi an Intsgral part of th888 Financlil •t#l•m•nii.
23

ThinkForward (UK
Balance sheet
Asat31Au
ust 2021
Al at31 Aug A8 at 31 Aug
2021
2020
Note
Flxod as8Ots
Tangible fixed a55818
13,615
12,818
Current a880ts
Debtors
Cash at bank and in hand
164,973
1,414.267
811,024
1,044.495
1.579.240
1,65S,519
Crodltor•: amounts du• wlthln ono yo¥r
1451,138
1486,583)
Not current allots
1.128.102
1,188,936
Total a8set81018 curront l￿bIlItIa$
1,141.617
1,201,752
Crodltorn: amounts due aftgr more than one y•ar
10
(192.9971
1290,663
Net M•ets
11
948,820
911,089
Funds
Re81r￿ted fund8
12
24,097
108,629
UnfO8trlct•d fundi
Designated Funds
General Funds
12
12
13.616
911,008
105.560
696.900
Total unmtricled fund8
924,023
802,460
Totsl fund•
948,620
911,089
The financial 51alemenls for ThlnkForward IUKI. Company regi8lr8llon number 08318590, Charity regSstration
numbei 1152862 for the yoar ended 31 Augu812021 were approved by the Board on 5th M8y 2022.
Charlle Green
Tru8tee
Vane888 Mofphel
Trustee
The notes on pago$ 2610 34 form an integral part ol thgse Financial 8tatemenl8.
24

ThinkForward (UK)
Statement of cashflows
For the
arended 31 Au
ust 2021
Yoar ended Year ondod
31 Aug 2021 31 Aug 2020
Not ¢•$h Inflowlloutnowl from opèrntlng •etlvltl08
la)
516,030
{231,9181
Ca$hflow from Invastlng actlvltl•8
Addrtlons to tangible fixed a88ets and Intanglble flxed
aB8ets
114,1701
13.0461
Cashflow from flnanclng actlvltl
Social Impact Bond loan feceived
Soclal Impact Bond loan repayment
So¢lal ImpKt Bond Interest
400,000
1100.0001
132.088
Incr•¥3ollDecrea88) In cash
369,772
165.036
Cash and Cash Equlval•nts at tho beglnnlng of
the rnportlng pgrfod
1.044,495
879,459
Cash and Cash Equlvalents •1 th• •nd of th•
rnportlng parlod
1,414,267
1,044,495
{al Rgconclllatlon of lurplus Ideficlti to not ca•h
flow from op•ratlng actSvltle3
Ygar onded Y•ar •ndod
31 Aug 2021 31 Aug 2020
Net Income for th• reporting period
37,631
135,402
Depreciation
Amort15alion of Sntanglble 888et8
Wril¢-off of intanglble a88e18
Interest on SIB loan
Decrea8el{IncTeasel in debtors
IDecreasel In credltors
Net cash Inflowllouffiowl from operating acts'vrtigs
13,471
17,548
10,033
13,379
32,088
446,051
113.111
518,030
{247,3531
{1eo,9271
231,9181
Ib) Analyslg of chang88 In n•t debt
Brought
Carfl•d
forward
Cash flow
forward
1 Sop 2020 movem•nts 31 Aug 2021
C8sh at bank and in hand
Sl8 loan
1.041495
(422,7511
821,744
369.772
105,764
476.626
1.414.267
1316.9971
1.097,270
25

ThinkFofward (UK)
Not•s to th• financial Btatements
For the
r ond•d 31 Au
u•t 2021
Aecountlng poll¢l••
al These financial ststements aw prepared on a goiro concem basis, underthe historieal cost eonv8nthon.
Th8 financial statamants hav8 been prepared in accordanc• ¥wth thè Fin8nclal Rèporting Standard applicabk8 in the
UK and Rèpublic ol Ireland IFRS 1021. Th8 Charitablè Comp8ny is a public benefit entity for th• purposès of FRS
102 and thorgfore the charity also prepared its fin8nc6BI st8tomen¢S in accordarKe with the Statement ol
Recornrnended Practs"c& appllcable to ¢harl￿.6$ preparing their accounts in accordgnco bwth lh& Financial Reports'ng
St8nd)rd applicable in the UK and Repullic of Ir¥l8nd (The FRS 102 Charib8s SORPI, the CoMpan￿S Act 20Cfj and
the Charrtigs Act 2011,
Going Conc8m'.
In response lo th• ongoing impact ol the Cov1￿19 p8nd•mic th8 tru8t88s continue to rn8el regularfy. Risk rngist•rn
are continually r9vis￿l 8nd the Scenario planning model has béen utilised to ev8luate different potential outcomes.
Our income mod81 pr8dicls Income for the year ending 3110812022 to bg of g $imll8r ￿Ve1 to the year just gone and
this 1$ mtsnitored trequently. Based on thi$ th• tru8t888 have concluded that there are no matarfal un(xrta5nt￿? about
the chAriV8 abilty to settle rfs debts as they fall due lor 8t 1888112 months following approval ol th058 flnanclal
¥tatements and accordingly th8 fin•n¢i81 statsmenls continue to be prep8rad on tho goin9 con¢&rn ba818.
bl Incorne is included in full in the 8t8t8m8nt of financial activitie6 onco th8 charity ha8 ents'llèm¥nl lo tho incorne, R is
probablg thal th& in¢tsm8 will be received and the gmounl ¢f in¢ome recelvable can be measured reliably.
Grants to ThinkForward IUKI ar8 r8cognisad In full in th¥ stslernent of financial act1￿1188 In the yoaf In %¥hl¢h they 8rè
receivAble, or In the case ol grants with associated •ligibllity critèrw or time.related conditions, in th8 y•ar in whlch
crfterla ara 88t18fi8d.
Wh&r• ontillemenl to grants recalva￿¢ 1$ d¥p•ndgnl upon fuifilment ol condllion8 Wrthln th• charfty'È control, tho
income is rocvJnis•d when there 16 8uffici8nt evidence that condition8 ￿11 bo m•1. Where there18 uncAgrt8inty 88 to
whether th• charty cgn ma¥1 $u¢h conditions recognrtion ol th8 Incoming WSOUf¢• 1$ deferred.
Incom• trom outcomes-ba8•d contracts 18 r8cognl8od in line wilh the term8 and condltions ol ¢ontra¢t for
88Thicas, after OLrtcomo$ have been recorded on our datsba￿ and wntractually agreed IOMB ole￿denCe h8V8
Collected and fi￿d.
Wharé 9ood$ or serwc63 are prowded to th8 Charity free of charge that would normally b8 purcha8•d IrL¥n supplièrs,
thi6 contribub.on 18 w¢orded in the f nanclal statements gs both In¢ome an¢y •xp&ndrture based on tha estimAteE1
voluts lo the ChArfty.
cl Exp8ndltur• 18 reccgnisfrd on an accruals basls, incluglw of •ny VAT %Yhlch cannot bo rncovor8d. LIabIl￿"￿ ar•
recognis•d 8$ 8xpendilure ag soon as there is a legal or con$tru¢lN? oblig81K)n commrtting the charity to Ih8t
e4)ondrture. it B probabl& Ihgt sèttl•menl Mdll bg required and the amount of th• obligation can be measured reliably.
Expondltur8 1$ 8110¢8¢ed to tho particular activity wh•r8 tha eost r818to8 oxclusively and dlrectly lo that actlvlty.
dl Depreciation 15 pro￿ded al rat98 calculated lo wriie down the cost of aach assel to Its ￿tim8￿d residual valu8 0
118 gxpected u8elul life. Th8 dèpw#b'on r•to8 in u8e are a3 follLJWS.'
Computer 8quipmont
3 years
0ffi¢s gquiprnenl
4 year
FixtureB and fittings
5 ￿$[$
It8ms o18quipment are ca￿'taliSe{l wheie the pur¢ha¥e price or the cost of the capital proj9¢1 trxwds £1.000.
Oepreciatlon costs a￿ 81th8tsd to activibes on the basis of the use of Ihe related assels in thos• ath"wti85. A¥8ets
8r& revkgwed for impalrmant il circumst8ne•s indi¢ats their carrying value rnay exceed their net realiSab￿ value and
V41u• in u88.
26

ThlnkForward {UK)
Notos to thg Ilnan¢lal slat•m•nts
For th•
r ended 31 Au
ugt 2021
Aeeounllng poll¢l•8 {con￿n￿ed)
01 C05t8 directly attributabk to the development of eomputsr SO￿are are caprtalised as intangibl6 ass•ts only wh8n
technical feasibllity ol th$ project is demonstrated, the tharity ho$ on int¢ntlon and 8bllity to cornplete and use the
sofiw8r8 and the costs can be m•asur•d tgliably. Such costs includ8 purchas8s of materials and $gTh1¢¥$ and payroll-
related costs of employees diredy involved In the projact. Rèsèarch D)5ts are r8cognised as an exp8nsa whon
incurred.
Thege Costs ¥r• amorh'5ed to th8 Statement of Financial Adiviti8s using the straightline method ovor S y8ar8, whl¢h
18 the shorter ofthoir 0s1Irn8ted usèhjl liv88 and periods ol cKJntractual rights.
D Expenditure on raising hjnds rdat• 1¢ the cost8 incurred by the charitab￿ ¢¢mp8ny in rai$iry funds lor Ihe charitable
work.
gl Support costs have t*en allocated in c8lag0ri88 CL)n8i8tsnt vAlh th& management 8nd operation8 01 th8 org8nlsallon.
h) UnroStnct8¢Y fuTra8 8r& donatlon8 and other incoma roce1vab￿ or g•n¥ratsd for the objects of the chanty.
il R8stricted fund$ are lo be used for speclflc purpos•8 89 18k1 down by thè dtsnor. Expenditure vknich m8•t8 th&80
¢dlerSa is rnatch8d to the rèstricted frJnd$. together with a fair alloca￿On of owrh•ad$ 8nd BUPPOrt costs, 11
appropNgts.
11 The charltabl8 company opor8108 a defined contribution pension schomo. Th¥ assets ol the scheme are h8ld
$•paratoly f￿ those ol the charlt8blo company In an Independenlly admin16tar8d fund. Tha penslon ¢081 charge
represents contributions payable under the sch8me by th8 ehadtable ¢¢mp4ny to the fund, The charilabb company
ha8 no Ilability und•r th• ￿h*rne other than for the payment of th¢n8 ¢W¢n"bu￿0ft8.
Pension contribution$ •r¢ also made on behall ol ellglblg 9mplo￿#S and are Into personal pen8lon Schem￿ a8
nominated by th8 employa• and ¢onlribulion8 P885 through the SOFA as Incurréd.
kl Tran$8¢1S¢n$ in loreign currenci8s ar& trgnsl8t8d Into storfing al the rate8 of exchango current 01 th8 d8t• of the
transaction. For8lgn ¢urron¢y monetary assets And li8bilitro$ in the balance sheet are translat8d into 8t•rling 81 thè
r8to$ ol exchange ruling al th& end ol the year. ReBull'ng exchang• gain8 8nd Ioss85 Are l•k¢n to th8 61alement of
flnan¢igI8¢tiv￿e3.
11 Oth&r 108888 ar8 r8garded a8 operats'ng k8aB68 and th• r•ntsl• aro ¢harJe<l to opèratinq expen8os on 8 8tralght-lin•
ba813 over the temi ol th8 188s•. Operatin9 1è860 in¢entlve8 r8c8lv8d are addgd to Ih8100s0 rentals and tharged to
op•rakn"ng •xpans08 Over the life of Ihe18ase.
m} Cash and ¢a8h equivalents include ca8h In ho￿1. dep08its told al ¢all ¥￿th bank8. olh•r 8hort-tarm Ik4uid In¥&8lments
with original malurib¢¥ ol month8 or leg6.
n) Thè charity elected to apply th& provi8ion$ of Sectlon 11 '889ic FinancA81 Instrum•nts' ol FRS 102 to all of It8
financial instrumènt8. Financial in5trurnenis are recognis8d in th8 eh8rity'8 balance sheet when the charlty be¢omè8
party to the contr￿1#1 prowsion3 ol the in6trumont. Financi81 awts and liobililies ar8 offset, with the Ml amounts
pr88ènt$d in the financial statements, whon thère is a legally enlO￿able right to sèt off the recognised amounts and
there is an intants'on to S8tt19 on a net basis or to r881is8 th8 88881 and settle Ihe liability simultAn8ou8ly
with the ex¢eptions ol prep8ymants and ¢J8ferr8d income all other debtor and crBditDr balances are cDn8ider•d to
basic finanaal instruments under FRS 102. See notes g and 10 for the debtor and creditor not&s.
ol Tho ¢o$t8 of 8hort4emi employ08 ￿nefitS rèwni8ed as a liability and an exp&n$•.
pl In wep8ring financial stat•ments it 1$ no¢eS￿ry to rnake certain ludg9ments, 051imates and assumptions that affèct
th8 amounts rewnised in the financl81 stAtsm8nts.
In th8 v￿W of the trustees In awlying the accountsng poliaes adopted, no judg8ments were required that ha￿ 8
s￿nifiCant effeet on the amounts recognisad in th8 fin8ncial statements nor do any èstim818s or a￿umptIOnS made
carry a Significant risk ol rn8teri818djustmenl in the next fingncial ￿or.
27

ThlnkForward (UK)
Not•• to the financlal $tat•m•ni8
Forth•
ar endod 31 Au
u8t 2021
In¢om•
Y•*r•nded Year end
31 Aug 2021 31 Aug 2020
Totsl
Tot•1
2•1 Donations 8nd granta from 00￿mment and chArftablg foundob"on8
Donatlons and grants from indiwdua18 and comp8nle8
1,269,642
427,429
1.552.125
193.464
Don8tions aThJ ￿8￿0•
1.696,971
1,745,58
2bl Ch•rltabl• aelhfltloB
Charitable acts'wt
763050
838,990
Totsl Incorn•
2,460,421
2,584.579
2¢) ThinkForward hos received tree legal and professional advlcè al an e$bm8tod value to the ChArity ot£5,000, This
haj been inctuded in tho accounts u don•ts'on income and &8 8 6UPPOrt ¢o$l12020.' £15,91)JI.
ThinkFowrd has b8•n giwn fraè usa ol office 6pace for th8 NottirrfJh8m r¢9ion81 team, The value ol thls gift 1$
•8Imat8d lo be £8.(KJO pa. This h88 tean in4uded In the accounts as donation ineomè and an eMpenBe12020'.
£8,0(KJl.
In the prowou$ yaar ThinkForward recdved donalon8 ol n•w IToqulpment lo t¢ glvon to young p8ople on the
ThlnkFoNrford prcgramme. £25,640 was Incltyaed in tho 2019120 ￿￿Ounts 88 donation income and an expenso.
In the pre￿oul y&ar ThinkFoTward h88 r8e8lved fr88 trolnlng al an eBUmatod v&lu• to th• Chgrity of£1,800. Thi8 Wa8
been Induded In tha 2019120 8c¢ount8 8$ don￿￿On Income ond a$ an •yp•ns8.
28

ThlnkFop•vard (UK)
N￿•$ to tho IlnaKlal st*tthi•nts
Forthe
r •nd•d 31 Au
ust 2021
3 lal. Total •xwvJltur•
A¢tlvlt
un¢lortakon
Y•ar •nd
dlrKtty Support eosis 31 Aug 2021
Cwr•nt ymr
Ralslng FLJnd8
FufvJrni$ing and event8
207.484
51,381
Charltabl• octlvlti
Proar8mn* gcllvlt
Donated JervKe8
Total charltabla a¢tlvltl
1,685.943
8.￿0
1.943
487,103
2,153,045
11.000
47
Totsl ¢xp•ndttur•
1,889,406
523,484
2,422,890
A¢U¥ltl••
un￿rtak•n
Y•thr •nd•d
dlr•city Support eoit• 31 AWJ 2020
Prlor yrlod- Y•ar •nd•d 31 Auu 2020
•lno Fund•
Fundf•liln9 and •v•nts
238,554
e8,784
303.338
Chawltable o¢tlvStl
Programm? 8clvlll8
Don8t8d $ervte8
Tctsl ¢h•rlt•bl• Ictlvlti
1,851.170
33,440
1.684.610
445.328
2,096.498
49.340
2.145,838
461.228
Totsl •xp•ndtw•
1,921,184
528.012
2,449.178
3 Ibl. Actlvltl•• und•rt•kon dIr9￿Y
Ymr •ndod 31 Yoar ended 31
Aug 2021
Aug 2020
StAff eo811
Oen8led se￿￿$. R•nt
Other ¢oJts
1,667,701
6,000
236.706
1,703,923
33,440
183,802
1.899AO8
1.921.185
3 Icl. Supp(*¢ co•ts
Cwrent y•wr
Charltab
adlvlt108
Yg8r gndod
GoV9m￿Ce 31 Aug 2021
StBff costs
Donated 88MceJ.' Prole68lono1 SoTrices
Other
3CKI,145
5,000
198,845
300.145
5,000
218,339
19,494
503.9
19.494
623,484
Chadtabl•
actlvltios
Y•4r •ndad
Go¥•rnane• 31 Aug 2020
Pfior p8rioJ- Year and•d 31 Aug 2020
Stair co$¢s
DoTrated seNSces." Profes5ion81 S8rvir
Olher co8t8
287,039
15,9CN)
208.417
287,039
16.900
225.073
18.856
511,356
16.656
528,012
29

ThlnkForward (UK)
Ilote• to thè fin•n¢lal 8tatsm8nts
For th• ￿ar ended 31 Auou8t 2021
N•t Income lorthe y•ar
Thi8 18 Ststed after charging..
Y•ar •nd•d 31 Y•ar gnded 31
Aug 2021
Aug 2020
D•praeiatiofi & armrtBats'o
Audrtoro, remunefation".
8udit- ¢urrgnl year
other JgrvKe$
13A71
27,581
1B.000
16,200
6.750
Slaff costs
Y••r •nd•d 31 Y••r•nded 31
Aug 2021
Aug 2020
Stsll costs w•r• #$ folbw8'.
SAlarie8 and wages
Social 58¢urily cg8ts
Pension eontrfbulion#
1.717,969
173.024
1,739,833
182,022
68,482
1,907.848
1,990,337
The n￿bar ol tmployeeo ¢aming £60,000 por annum or rrKsr• l•KluJlwJ ol enyloyer p•n81on• ond anpk)y•r
Nalknnal InBuroncg contrlbulion81 was..
Y•ar •ndod 31 Y•ar •nd•d 31
Aug 2021
Aug 2020
Nurnbgr
Numb•r
£80.000- £70.000
£90.th)1- £100,000
pensIc￿ payrnofits forthe above Trwrnb•rs ol staff thmounled to £6,85112020'. £8,826).
No ￿n￿luM&n￿l202O.. £nlll and no 8xp8ns•612020.. £nill were pald to any Irustao dhctor durlng th? perfod.
No lemingtion PayftK•nli in rèspect of redundandes were made in the year12020.. £nill.
Kèy manAg8ment per80nn•l includ• the CEO ¥nd E¥ecutlve T¢￿Tr comprising of 4 wl¢s12020'. 41 In total. Th• total
employee ben816ts. in respètt of th8 ¢hariV8 key managem•nt perBonn81 forthe ye8r was £Xfj,34512020.. É301,3141.
81•ff numbo
The average nuft*•r ofèmpbye88 Ihg¥dcountl duth9 thè périod was 4712020., 471,
Taxatlon
ThInkFo￿ard IUKI 18 conBidergd to pa68 the t6616 8•t out in Paragraph 1 Schedule 6 Flnane• ACT 2010 and Iherefore
It the definitK)n ol 8 tharrt8ble cornpany for UK ￿rporatIOn tax purpose8. Accordin9ly, the charity ts pDt8nts'ally
èxempt frorn taxatK)Th In rosp•ct of inctsm8 or capitsl gain6 recèived wrthin cytegongs covered by Chaptor 3 Part 11
Corpor8tion Tax 2010 or SeC￿.0n 2586 of Ihe Chargeablè Ggin8 Act 1992, to the 8>Xent that such into￿8 or gain8 are
appl￿d exclu8Noly to charitable purposes. Consequently ThinkForward IUKI has no liability to tax no d•f•rrnd lax.
30

ThlnkForward IUKI
NrAa8 to the fiMn¢ial *tatsrnenl•
Forthg
ar ended 31 Au
U8t2021
Tanglbla Ilx•d •M•ts
Offu&
computsr
equipment
Flxiures &
fflting5
Y•Ar •ndod 31
Aug 2021
Co•t
Al 1 Septembor 2020
Addrtions in year
Di8P08918 in year
At the end of thts ￿ar
44,020
54,871
14,171
133.2481
35,J5M
98.691
14,171
133.248
79,
14
D•prnelatlon
At the Start of th8 year
Chargè for th8 y88r
D18P08al8 in yèar
At th• ond ol thè y•ar
3fj,2
7,730
49,585
5.741
133,2471
22.079
86.876
13A71
133.2471
66,089
N•t Book V•luo
At th• •nd of th• y•4r
13,016
13,515
At lh• it8rt of Iho y•ar
7,730
5,086
12.816
O•btorn
A• It 31 Aug
2021
4t 31 Aug
2020
Aecrued incorr
Oth•r dèblor•
Prepaymant8
140.203
12.146
12.564
585,380
12,884
12,800
164,973
Crfjdltor•', •mounts duo wlthln on• y••r
A• •t 31 Aug
2021
A• •t 31 Aug
2020
Trad• and other creditor•
Tax and 8¢eial becurlty
Accruals
S18 Loan
Defèrrèd ￿n￿me19ee belowl
60,172
46,948
158.729
124.000
61.289
35,205
74,800
84,490
132,088
140,000
401,138
466.583
t)•f•rr•d In¢om•
8al8nce brought fonvard
Amunt released to ineom
An￿Unt delèrrèd in ygar
140.000
1140,0001
61,289
365,000
1265,0001
40.OLK)
Def8rrgd incorro Carr￿ foThvard
61.289
140,0(KI
31

ThlnkForward IUKI
lot•• to the tln•n¢i*l #tst•ment8
For tho vear•nded 31 Auaust 2021
10. Cr•dlior•: ¥rnounts du• #ft•e moro than on• y••r
Big 188ue Inve8t Soo•1 Impèct Loan
192,997
290,863
Loan funds 01 £400,000 wore drawn down In Decembèr 2019 to fijnd delivery ol DFN-MoVeFo￿￿rd In &Jvance gf
outco￿8 payrnenls on th• programmè. A r8paym8nt of£100.000 plus Intèrest to datè was mgdg in DKembgr 2020.
Repayments of £100,000 will b¢ mad• in D•camber 2021 and D8cernb•r 2023 with a final repayrnent in March 2024.
11. Anilyèl• of Mt a••o1• lJ•1w￿n fund• at 31 Au4 2021
R••trlctsd
fund•
Unrn•trict•d
fund•
TotAI
Tangible f1x•d asJ?ts
Net cur￿n1 as88ts
Long t•m Nabi1Stle8
13,0115
716,011
192.997
13,S1S
742,108
192,997
24.097
24,097
924123
948.620
AnAly•l• ￿l•t4 b•twMn lund• •t 31 Aug 2020
R88trkt•J
lundj
Unre8trlc*ed
fund8
Total
TA Th91￿& fixed 880•1
Net current ass•ts
Long t•nn liabilth'e8
12,818
498,982
290.663
12,816
607,811
290,663
108,e29
108,629
802,461
911,090
32

ThlnkForwsrd {UKI
Nots• to the lIna￿l*l statornonts
Forthe
r ended 31 Au
ust 2021
12. Movern•nts In lund*
At the Blart
olth• year
Atth• •nd of
the y￿1
Ye4r ended 31 Aug 2021
Incom•
Expondltur•
Tron•for•
R••tricted ThlnkFofward IUKI
g Lott8ry Community Fund
Credit Suisse EMEA Foundats"on
Garfield We$lon Found8tion
Pears Foundation
Richard Oldfield
Other re8tr￿e￿ lunds
50,000
loo,￿0
105,000
100,000
so.000
1150.0001
1105,0001
1100,0001
150,0001
I50,0￿}
1476,6801
58,629
442,128
D•8lgn•tsd Fund•
5 ￿*r slral•9y pl8ri
Fixed a8S•ti fund
105,560
176,6141
128,94e}
13.515
13.610
Totsl Ggngrnl Fund
898.900 1,613,293
11,414,6151
15,431
911.008
Total fund•
911,089 2.48OA21
12.422,86¥)1
948,820
At th• •tsrt
ofth•
p•rfod
At the •nd of
th• p•rlod
Ymr •nd*d 31 Aug 2020
Incorn•
Exp•ndllu
Tr•n•f•r•
Ro¥trl¢lgd ThlnkFoTh¥4rd IUKI
Garf181a Weston Foundation
K•nt Cornrnunity Foundation
Credit Sui880 EMEA Foundolion
819 Lottory Cornrnunty Fund
Other re8tricl8d lunds
100.000
205,000
105,000
100,000
$80,852
1100.0001
1205.0001
1105.0001
150.0001
1522,2231
,000
88,829
1)081gnJt•d Fund•
105,560
106,880
TotAI unMtrl¢tsd g•n•ral
775,887 1.493,727
11,486,954)
1105,5601
696,900
Totsl fund•
n5,887 2,384,1179
12,449,177)
911,089
The 98neral fund repreBent8 the aceumulat•J n8¢ 8urplu8e8 01 tha charity which ho￿ netther been m8lrictod by
conditKJn8 iryo$ed by donors, nor have b98n d¥signated by the Board of Tru8ta8B lor Bpecific purpoa•8.
The trustees designatèd fund8 in 2020 for purpos• of 8upportiry Ihe trrpkn*nt8￿.0n of our upd8ted 5 year Strategic
plan12020-20251. We ass888ed a need to Invest In the d8VelOp￿nI of or9anisational intrastrueiur8 including digrtal
8ki118 buildirrfd which is 8ss8ntial to the Su￿eSSIU1 irnplemenlation of our plans. £76,614 of the designat8d fund8 Warn
4)ènt in the fin8nc6al year 2020121 and Ihe ￿8￿nCe of £28,946 has been traTh$fer￿d tsaEk to g8ner81 funds.
A new dgsignated fund equal to thè nèt book v81v8 of the fixed assels ha8 tsegn created. Further dètail 18 ouuined in
the a¢cotnpanying Trust￿ Annual Roport.
The charity receives rostricted incomg from a larg8 nwrt*rof donor8 and It Is not practKal to di8¢lo89 the opening
ba18n¢es, trnV8rn8nts, Iran8fers. 8nd closing balances on gvgry indfvldual rastricted fund. Restricted funds arè
IscK)58d in aggregale exrEpt where the donor requi￿$ di8closur• of a 5peafic r8stricled fvnd andlor th8 fund$ are
material lset at 5% or nK)r8 of Ihg total valu6 of mstrictsd lund81.
33

ThlnkForward (UK)
Note# to th• fin•nclal •tst•m•nts
Forth•
r end•d 31 Au
uBt 2021
13. Membern. Ilability
The Cornp8ny 18 a prN8le cKJmpany limited by gu8rant•a and consequently does not hav& share capital. Each of tha
Memb8r8 18 IKgbl? lo conln"but• an amount not exceeding £10 toward8 Iho 8880ts 01 the Compgny in the event of
liquidation.
14. Op•rntln¥ im*• con￿11rnQnII
Thg totgl minimurn I￿88 payments und•r non4ncellabb operating P8a8eB arts 18 foll¢)wi.'
A• at31 Aug *4 •t 31 Aug
2021
2020
Expiring wllhln 1 year
Expirirva be￿88n 1 and 2 y•arn
33.370
44.600
33.375
33.376
77,875
10. Rgl•tod wrty tr•n••ctlon•
The cha￿ty r•c8iv8d donab'on• of £77,500 durlrrtj th• y•ar12020.. t10,3￿) from tru$lg01. Al lh• y•af •nd £nll w
out8t•ndlng12020.' £nlll.
In the prevlous year the ¢h8rity rerAived a don8tion 01 £50.000 from the DHL Found8llon. A ThinkFoMard Iru•t•o 1
a180 a tru8t•e of thi8 Foundallon. Thii trust•• has #ineè r8ivJned from the t￿rd ol ThlnkForw8rd. ThinkForw•rd
r•coived a don8tion 01 £75,000 from th• OHL Foundation in 2020121.
Durin9 the y•ar tho th•rty retirement grft to on8 truitaas to the valu• 01 £30912020.. tru•t•tt to th• v•lu¥ of
£4561.
During thè yoar Ih? ¢hadty kncurrtd tr•inlng •yp•n••8 of £1,140 lor TTU8t•e812020.. £nlll and £45 Tru
freshrn8nts12020.' £nlll,
34