OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-06-30-accounts

FUTURE FRONTIERS

Report of the Trustees and Financial Statements for the Year Ended 30 June 2021

Registered Charity in England and Wales: 1162470 Registered Company Limited by Guarantee in England and Wales: 08825219 Registered Address: CAN Mezzanine, 7-14 Great Dover Street, London, SE1 4YR

CONTENTS

Report of the Trustees 3-13
Independent Examiner's Report 14-15
Statement of Financial Activities 16
Summary Income and Expenditure Account 17
Balance Sheet 18-19
Notes to the Financial Statements 20-29

2

REPORT OF THE TRUSTEES

HELLO

Thank you for your interest in Future Frontiers.

On behalf of the Board of Trustees, I am pleased to share with you our report on the charity’s activities and impact over the last year.

In partnership with schools, businesses and supporters, we have worked with 1,297 young people to discover their aspirations for the future and make a plan towards their target career.

Amongst the challenging backdrop of the Covid-19 pandemic, we have seen young people’s career readiness, self-belief and motivation grow.

We have continued to invest in external evaluation to better understand the impact of our programme for young people. In a recent evaluation, teachers reported that, when compared to their peers, Future Frontiers participants demonstrated increased positive attitudes toward learning, increased engagement at school and put more effort into their academic learning.

Alongside this, we have undertaken a strategic review. Following the review, we have taken the decision to target our future work towards lower-attaining, disadvantaged 14-16 year-olds, who are at a heightened risk of entering poorly fitting post-16 courses and not achieving the qualifications that will open doors to higher level learning and fulfilling employment.

We believe working with these young people is where we can make the biggest difference and achieve transformational impact on their future career paths and life chances.

We will test this by committing to rigorous, long-term impact evaluation and use our findings to develop our programme to achieve maximum benefit for young people and their opportunities.

Thank you to everyone – the teachers, business leaders, volunteer coaches, supporters and advocates – who works with us to empower young people on their journey towards a brighter future and build a fairer society for all.

We look forward to our continued work together.

BEN WILLIAMS

CHAIR OF THE BOARD OF TRUSTEES

3

OBJECTIVES AND ACTIVITIES

OBJECTS

As set out in the charity’s governing document, the charity’s objects are specifically restricted to the following:

To advance the education of the public and relieve poverty, including but not limited to:

MISSION

Future Frontiers exists to ensure that young people from disadvantaged backgrounds fulfil their potential at school and when transitioning to education or training.

AIMS

Our long-term aim is to empower disadvantaged young people to make and sustain positive onwards transitions into education or training, which will enable them to access higher-level learning and secure, fulfilling employment.

To make this possible, we equip disadvantaged young people with the career readiness, self-belief and motivation they need to discover and pursue their target career.

Ultimately, our vision is for young people from disadvantaged backgrounds to fulfil their potential and to break the cycles of poverty that exist in our society.

NEED

At age 16, a young person must make decisions that have lifelong consequences.

Too often, disadvantaged students struggle at this critical juncture, which perpetuates cycles of disadvantage. To build a fairer society in which every young person can fulfil their potential, these cycles must be broken.

Following our strategic review, we will target lower-attaining pupils from disadvantaged backgrounds. For lower-attaining pupils who may not achieve the qualifications required to continue to academic courses at sixth form, they face an overwhelming landscape of courses and application processes. This increases their risk of underachieving, dropping out and becoming NEET.

4

ACTIVITIES

We deliver an evidence-based programme in which young people take part in six hours of career coaching with a volunteer coach, increase their understanding of the pathways available to them and speak with a role model in their target sector. Along the way, pupils make a personalised plan towards their future career, including a back-up plan.

In 2020/21, 1,297 young people took part in our programme virtually.

Following a strategic review, we will extend and intensify our provision to offer lower-attaining, disadvantaged young people aged 14-16 a programme over two years. Following their career coaching sessions in Year 10, young people will have access to new, personalised guidance in Year 11 to choose, apply for and secure a well-fitting post-16 course. In 2021/22, we will pilot this provision with a small group of Year 11 pupils, with the aim of refining and rolling out more widely.

MONITORING AND EVALUATION

NEW PUPIL OUTCOMES FRAMEWORK

We measure the short-term impact of our programme on pupils’ career readiness, self-belief and motivation, which are essential for pupils to engage more fully with school and make positive post-16 transitions into education and training. We use pre- and post- pupil surveys, including validated questions from the Student Career Readiness Index and the Social Emotional Health Survey - Secondary.

We also work with partners to externally evaluate the impact of our programme on pupil engagement, attainment and ability to make positive transitions.

As part of our strategy for 2021-26, we commit to longterm evaluation against a new pupil outcomes framework.

VOLUNTEERS

The Future Frontiers programme relies on the dedication of our volunteer coaches, who are recruited through our partnerships with businesses. Last year, 1,192 volunteer coaches from 83 businesses invested their time in supporting young people to pursue an inspiring future.

5

ACHIEVEMENTS AND PERFORMANCE

PROGRAMME REACH

In 2020/21, we worked with 1,297 young people from 49 schools.

1,192 volunteer coaches from 83 businesses delivered career coaching sessions for pupils.

PROGRAMME DELIVERY

The majority of pupils engaged well with the programme, despite the continued disruption caused by the Covid-19 pandemic and challenges associated with online delivery.

97% of young people agreed “my career coach helped me to discover a career that inspires and motivates me”.

The move towards online and more independent coaching increased the risk of pupils disengaging from the programme, when compared to our typical in-person model.

In response, we worked closely with teachers to consult pupils on their concerns and implement additional support measures. This included extending programmes beyond the usual half-term timeline to give pupils more time to complete the four coaching sessions. We also ran additional assemblies for pupils and arranged weekly catch-ups with teachers between coaching sessions.

Informed by our learnings, in Summer 2021, we adapted further towards a hybrid delivery model, in which pupils dial into their virtual coaching sessions from school, supported in-person by a Future Frontiers Programme Manager. This was successful in increasing attendance and engagement.

Where possible, in 2021/22, we will transition back towards in-person delivery, which is the preferred model for schools and businesses and gives young people the opportunity to experience the office environment during their coaching sessions.

Alongside this, our online delivery model remains vital as an alternative option to support as many pupils in need as possible.

6

PROGRAMME IMPACT

We have used quantitative and qualitative data to understand the difference that our programme has made for young people from disadvantaged backgrounds.

We have seen positive progress in pupils’ career and transition readiness, self-belief and motivation, which are crucial to making positive onwards transitions into education and training.

In the long-term, we believe young people are more equipped to fulfil their potential and break away from disadvantage, which is vital to building a fairer society.

EXTERNAL EVALUATION

Since 2019/20, we have worked in partnership with non-profit organisation, ImpactEd, to externally evaluate the impact of the Future Frontiers programme on pupils’ engagement and attainment at school. As school-recorded data was unavailable at the time of this year’s evaluation due to the Covid-19 pandemic, ImpactEd conducted teacher surveys and a focus group that explored perceptions of pupil engagement and behaviour.

Teachers reported that, when compared to their peers, Future Frontiers participants showed:

Pupils shared that, following the Future Frontiers programme, they felt:

7

FINANCIAL REVIEW

Future Frontiers has navigated the Covid-19 pandemic to maintain a stable financial position, with support from our school and business partners, and supporters.

The Covid-19 pandemic affected the charity’s income in the 2020/21 financial year. In some cases, programmes for schools and businesses were deferred until later in the year, which meant a loss of projected income from new partnerships.

We increased our fundraising activity and are grateful for the support given through grants and donations which have helped to protect the charity’s sustainability.

Despite the disruption, we have been able to add to our reserves and to meet our reserves policy.

The charity is in a strong position to embark upon our new strategy for 2021-26 and increase the number of young people we work with.

INCOME

In 2020/21, total income was £803,733 through a combination of income streams:

The Trustees are sincerely grateful to the partners and supporters who have stood by the charity through the Covid-19 pandemic and we look forward to our continued work together to equip disadvantaged young people to succeed in pursuit of their target career.

EXPENDITURE

In 2020/21, total expenditure was £659,346 , including:

RESERVES

Future Frontiers’ reserves policy is to maintain a sufficient level of reserves to enable activities to be continued, taking account of potential risks and contingencies that may arise from time to time.

The Board of Trustees has set the charity's reserves requirement as at least three but not more than six months of average recurring operating costs. This is calculated using average monthly expenditure within the annual budget.

According to this policy, the charity needs to ensure general reserves of £164,836 - £329,673 at the end of the 2020/21 financial year.

At 30th June 2021 total funds were £393,117 of which £75,364 were restricted and £56,500 were designated, leaving free reserves of £261,253.

8

Funds have been designated to 2021/22 for the purpose of supporting the implementation of our updated five year strategic plan (2021-2026). All designated funds are expected to be spent in full in the financial year 2021/22.

RISK MANAGEMENT

The Trustees are committed to ongoing risk management for the charity and its resources, including the monitoring of the charity’s financial position and management accounts. As a charity working with young people, a key priority is safeguarding. We have a safeguarding risk register on which staff record all safeguarding concerns, which are regularly reviewed by the Trustees. All staff are trained in our safeguarding policy and procedures and must sign to confirm agreement.

GOING CONCERN

The trustees have reasonable expectation that the charitable company has adequate resources to continue for the foreseeable future, with the projected retention and growth of our partnerships and supporters. The board continues to adopt the going concern basis in preparing the financial statements.

9

PLANS FOR FUTURE PERIODS

STRATEGIC REVIEW

Since our founding in 2013, we have worked with over 6,000 young people across a range of ages and abilities.

We have recently completed a strategic review of our work and impact to date to consider how we achieve transformational long-term impact for young people from disadvantaged backgrounds.

Our new strategy will focus on empowering lower-attaining, disadvantaged 14-16 year-olds to achieve high-quality post-16 education or training destinations, which will open doors to higher level learning and secure, fulfilling employment.

We will extend and develop our programme to address a series of pitfalls often encountered by lower-attaining, disadvantaged young people, who often face a complex post-16 transition away from their secondary school and are in need of additional guidance to make a positive next step.

We are committed to equipping disadvantaged young people to realise their potential and to breaking the cycles of poverty that exist in our society.

STRATEGIC FOCUS AREAS

In order to achieve ambitious long-term impact over the next five years, we will prioritise the following five strategic areas:

How we use quantitative and qualitative data to inform programme development and measure the extent of our programme’s impact for young people in the short and long term.

How we develop new provision focused on supporting young people through the post-16 selection, application and enrolment process, and optimise our career coaching sessions.

How we develop systems, processes, people and actions to maximise the quality, efficiency and consistency of programme delivery.

How we build long-lasting relationships with a diverse range of partners and supporters who are committed to empowering young people on their career journey.

How we develop the charity’s people, processes and technology to carry out our work effectively and efficiently as a motivated team.

10

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

Memorandum and articles incorporated 23/12/2013, as amended by special resolution registered at Companies House on 22/04/2015.

CONSTITUTION

Future Frontiers is a registered charity (1162470) and company limited by guarantee (08825219) in England and Wales.

STATEMENT OF PUBLIC BENEFIT

Trustees have paid due regard to the guidance issued by the Charity Commission on public benefit and are satisfied that the charity complies.

ORGANISATIONAL STRUCTURE

The charity is governed by a Board of Trustees consisting of eight professionals with expertise in education, charity, public policy, business strategy and fundraising. The Board is responsible for decisions relating to charity governance and strategic direction.

There are 2 sub-committees:

The management of the charity is led by the CEO, with support from a team of six Heads of Department responsible for Programmes, Programme Delivery, Data and Impact, Partnerships, Fundraising and Operations.

BOARD OF TRUSTEES

Trustees are appointed under the terms of the Articles of Association. Regular reviews are conducted to determine skills gaps in the Board, and trustee service-terms are reviewed every three years. When a new Trustee appointment is required, recruitment will begin through networks of the Board, management, and partnerships, and extended to formal advertisement and channels if necessary.

Trustee appointments are approved through interview with the Chair of Trustees, CEO, and one other Trustee. Upon successful interview, the successful applicant will be invited to join the Board of Trustees.

No Trustees have a beneficial interest in the company. All of the Trustees are members of the Company and guarantee to contribute £1 in the event of winding it up.

PAY AND REMUNERATION OF KEY MANAGEMENT PERSONNEL

The salary of the CEO is set by the Board of Trustees and reviewed annually.

FUNDRAISING

Future Frontiers is registered with the Fundraising Regulator and complies with the Code of Fundraising Practice. We have not received any complaints about the charity’s fundraising activity.

11

REFERENCE AND ADMINISTRATIVE DETAILS

FUTURE FRONTIERS

Also known as FUTURE FRONTIERS LTD Registered Charity in England and Wales: 1162470 Registered Company Limited by Guarantee in England and Wales: 08825219 Registered Address: CAN Mezzanine, 7-14 Great Dover Street, London SE1 4YR

TRUSTEES

Ben Williams (CHAIR) Raza Ali Heather Burgess Patrick Dempsey Sebastian Hare Hannah Moffat Frances Soul Oliver Thomas

CHIEF EXECUTIVE OFFICER

Dominic Baker

EXAMINER

Farhan Nagda FCCA Electric Wharf, 1 Generator Hall, Coventry, CV1 4JL

BANK

HSBC 28 Borough High Street, London SE1 1YB

12

TRUSTEES’ STATEMENT OF RESPONSIBILITIES

The Trustees, who are also Directors of Future Frontiers for the purposes of company law, are responsible for preparing our Report of the Trustees and Financial Statements in accordance with applicable law and regulations.

Company law requires that Trustees prepare financial statements for each financial 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 these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees confirm that:

EXAMINER

Edge Chartered Certified Accountants was appointed as the charitable company’s examiner during the year. This report has been prepared in accordance with Charities SORP (FRS 102).

DECLARATION

This report was approved by the Trustees on[Mar 18, 202][2 ] and signed on its behalf by:

BEN WILLIAMS

CHAIR OF THE BOARD OF TRUSTEES

DATE[Mar 18, 2022 ]

13

Future Frontiers Ltd Independent Examiners Report

Independent Examiner's Report to the trustees of Future Frontiers Ltd

I report to the charity trustees on my examination of the accounts of Future Frontiers Ltd for the year ended 30 June 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

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

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

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Chartered Certified Accountants which is one of the listed bodies.

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

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

However, I would like to disclose the following material matters.

The accounts have been restated to incorporate the impact of misclassification of restricted and unrestricted balances. The change has resulted in a distribution of categories on 30 June 2020.

14

Summary of the Prior Year's accounting impact in Statement of Financial Activities.

Expenditure Split

Direct Cost
Submitted 2020		 Restated
Unrestricted
2020		 Restated Restricted
2020		 Variance
£451,085 £221,615 £73,088 £156,382
Support
Cost/Overhead Cost
Submitted 2020		 Restated
Unrestricted
2020		 Restated Restricted
2020		 Variance
£3,408 £159,790 £- £156,382

In 2021 accounts, £156,382 Direct cost split has been transferred from Charitable activities to support cost/over head cost category.

There were no Designated funds in the 2020 submitted accounts; however, in 2021 accounts, funds have been designated; please see note 6 for more information.

Farhan Nagda FCCA

EDGE CHARTERED CERTIFIED ACCOUNTANTS Electric Wharf 1 Generator Hall CV1 4JL

15/03/2022

15

Future Frontiers Ltd Statement of Financial Activities

for the year ended 30 June 2021

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Total
Expenditure on:
Charitable activities (direct)
7
Charitable activities (support)
8
Total
Net income
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted Restricted
2021 Total
£
£
£
111,670
247,246
358,915
444,818
-
444,818		 Restated
2020 Total
£
218,747
307,781
556,488
247,246
803,734
199,190
189,312
388,502
270,844
-
270,844		 526,528
294,703
159,790
470,034
189,312
659,346		 454,493
86,454
57,934
144,388
231,299
17,430
248,729		 72,035
176,694
317,753
75,364
393,117		 248,729

16

Future Frontiers Ltd Summary Income and Expenditure Account

for the year ended 30 June 2021

Income
Gross income for the year
Expenditure
Depreciation
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2021
£
803,734
803,734
654,865
4,481
659,346
144,388
144,388		 Restated 2020
£
526,528
526,528
450,959
3,534
454,493
72,035
72,035

17

Future Frontiers Ltd

Balance Sheet

at 30 June 2021

Company No.
Fixed assets
08825219
Notes
2021
£
Tangible assets
11
6,288
6,288
Current assets
Debtors
12
83,389
Cash at bank and in hand
377,775
461,164
Creditors:Amount falling due within one year
13
(74,335)
Net current assets
386,829
Total assets less current liabilities
393,117
Total net assets
393,117
The funds of the charity
Restricted funds
Restricted income funds
14
75,364
Unrestricted funds
14
75,364
General funds
261,253
Designated funds
56,500
317,753
Total funds
393,117		 Restated 2020
£
6,034
6,034
95,253
271,818
367,071
(124,375)
242,696
248,729
248,729
17,430
17,430
231,299
-
231,299
248,729

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 30 June 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus of deficit for each financial year in

18

Future Frontiers Ltd Balance Sheet

Approved by the board on And signed on its behalf by:

Ben Williams

Trustee

Mar 18, 2022

Signature: Ben Williams (Mar 18, 2022 09:30 GMT+1) Email:[bhhwilliams@gmail.com ]

19

Future Frontiers Ltd Notes to the Accounts

for the year ended 30 June 2021

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.

Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

20

Future Frontiers Ltd Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other debtors

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

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

21

Future Frontiers Ltd Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital. Registered Charity Number: 1162470

The charity registered office is:

7-14 Great Dover Street

Can Mezzanine

London

SE1 4YG

22

Future Frontiers Ltd Notes to the Accounts

3 Statement of Financial Activities - restated prior year

Income and endowments from:
Donations and legacies
Charitable activities
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Restated
Unrestricted
Funds
2020
£
150,643
307,781		 Restated
restricted
Funds
2020
£
68,104
-
68,104
73,088
73,088
(4,984)
(4,984)
22,414
17,430		 Restated
Total
funds
2020
£
218,747
307,781
458,424
221,615
159,790		 526,528
294,703
159,790
381,405 454,493
77,019
77,019
154,280		 72,035
72,035
176,694
231,299 248,729

23

Future Frontiers Ltd

Notes to the Accounts

Donations Unrestricted
£
111,670
111,670		 Restricted
£
247,246
247,246		 Total
2021
£
358,915
358,915		 Restated
Total
2020
£
218,747
218,747

Restricted Donation received

Allen & Overy LLP
Bridgepoint Charitable Trust
CET
Charles S French Charitable Trust
Coutts
Hyde Park Place Estate Charity
Lawrence Atwell's Charity
National Lottery COVID-19 Fund
Tallow Chandlers’ Benevolent Fund
The Hedley Foundation
The Linbury Trust
The Portal Trust
The Sheldon Trust
The Vintners' Foundation
Westminster Foundation
Wellington Management UK Foundation
Takeda UK Ltd
Walcot Foundation
Unrestricted Donation received
Drapers' Charitable Fund
The David and Elaine Potter Foundation
Individual donations
The Rayne Foundation
Swire Charitable Trust
The 80-20 Charitable Fund		 Total
2021
£
10,000
24,750
2,003
4,500
18,540
3,650
6,334
67,939
2,000
3,000
25,000
23,737
6,750
9,043
10,000
30,000
-
-
247,246
25,000
31,500
5,659
20,000
25,000
-		 Total
2020
£
-
-
-
-
-
(4,746)
-
-
-
-
-
-
-
-
20,000
30,000
5,000
17,850
68,104
-
-
-
15,000
10,000
10,000

24

Future Frontiers Ltd Notes to the Accounts

re Frontiers Ltd
es to the Accounts
Allen & Overy LLP
The Ellis Campbell Charitable Foundation
Garfield Weston Foundation
The Grocers' Charity
The Haramead Trust
The Quilter Foundation
T. Rowe Price
Wates Foundation
HMRC Corona-virus job retention scheme		 -
-
-
-
-
-
-
-
4,511
111,670		 40,000
5,000
30,000
4,750
2,500
1,000
1,000
10,000
21,393
150,643

5 Income from charitable activities

Programme Income
6
Designated Funds		 Unrestricted
£
388,318
388,318
Unrestricted
£
56,500
56,500		 Total
2021
£
388,318
388,318
Total
2021
£
56,500
56,500		 Total
2020
£
307,781
307,781
Total
2020
£
-
-

Note: Funds have been designated to 2021/22 for the purpose of supporting the implementation of the updated five year strategic plan (2021-2026). All designated funds are expected to be spent in full in the financial year 2021/22

7 Expenditure on charitable activities (Direct)

Expenditure on charitable activities (Direct)
Direct Employee Costs
Other Direct Costs		 Unrestricted
£
130,364
68,826
199,190		 Restricted
£
189,312
-
189,312		 Total
2021
£
319,676
68,826
388,502		 Total
2020
£
254,035
40,668
294,703

25

Future Frontiers Ltd Notes to the Accounts

8 Expenditure on support costs

Unrestricted
£
Total
2021
£
Total
2020
£
Fundraising Cost
79,417
79,417
21,312
Governance Cost
5,098
5,098
4,229
Employee costs
120,606
120,606
77,581
Motor and travel costs
9,824
9,824
8,812
Premises costs
24,359
24,359
31,226
Depreciation
4,481
4,481
3,534
General administrative costs
14,310
14,310
11,108
Consultancy
12,749
12,749
1,988
270,844
270,844
159,790
9
Net income before transfers
This is stated after charging:
2021
£
2020
£
Depreciation of owned fixed assets
4,481
3,534
10Staff costs
Salaries and wages
441,845
292,797
Social security costs
42,844
30,223
Pension costs
10,850
5,757
495,538
328,776
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year
ended 30 June 2020.
One employee received emoluments between £60,001 -
£70,000
2021
2020
1
-
The average monthly number of full time equivalent employees during the year was as follows:
2021
Number
2020
Number
13
9
13
9		 Total
2020
£
21,312
4,229
77,581
8,812
31,226
3,534
11,108
1,988
159,790

26

Future Frontiers Ltd Notes to the Accounts

11 Tangible fixed assets

Cost or revaluation
At 1 July 2020
Additions
At 30 June 2021
Depreciation
At 1 July 2020
Depreciation charge for the
year
At 30 June 2021
Net book values
At 30 June 2021
At 30 June 2020
12Trade Debtors
Other debtors
Prepayments and accrued income
13Creditors:
amounts falling due within one year
Payments on account
Other creditors
Accruals and deferred income		 2021
£
83,389
-

83,389
2021
£
-
12,481
61,854

74,335		 £
14,135
4,734

18,869
8,101
4,480

12,581

6,288

6,034
2020
£
94,507
746

95,253
2020
£
49,505
74,870
-
124,375

27

Future Frontiers Ltd Notes to the Accounts

14 Movement in funds

Restricted funds:
Allen & Overy LLP
Bridgepoint Charitable Trust
CET
Charles S French Charitable
Trust
Coutts
Hyde Park Place Estate
Charity
Lawrence Atwell's Charity
National Lottery COVID-19
Fund
Tallow Chandlers’
Benevolent Fund
The Hedley Foundation
The Linbury Trust
The Portal Trust
The Sheldon Trust
The Vintners' Foundation
Westminster Foundation
Wellington Management UK
Foundation
Takeda UK Ltd
Walcot Foundation
Hillingdon Trust
Total
Unrestricted funds:
General funds
Designated Funds
Total
Total funds		 At 1 July
2020
-
-
2,980
-
-
-
-
-
-
-
-
-
-
-
5,000
9,000
450
17,430
231,299
-
-
248,729		 Incoming
resources
£
10,000
24,750
2,003
4,500
18,540
3,650
6,334
67,939
2,000
3,000
25,000
23,737
6,750
9,043
10,000
30,000
-
-
247,246
499,988
56,500
56,500
803,734		 Resources
expended
£
(24,750)
(4,983)
-
(18,540)
(3,650)
-
(67,939)
-
-
(25,000)
-
-
-
-
(30,000)
(5,000)
(9,000)
(450)
(189,312)
(470,034)
-
-
(659,346)		 At 30
June 2021
£
10,000
-
-
4,500
-
-
6,334
-
2,000
3,000
-
23,737
6,750
9,043
10,000
-
-
-
75,364
261,253
56,500
56,500
393,117

28

Future Frontiers Ltd Notes to the Accounts

Designated Funds

Funds have been designated to 2021/22 for the purpose of supporting the implementation of the updated five year strategic plan (2021-2026). All designated funds are expected to be spent in full in the financial year 2021/22

15 Analysis of net assets between funds

Analysis of net assets between funds
Fixed assets
Net current assets		 Unrestricted
funds
£
6,288
386,829
393,117		 Total
£
6,288
386,829
393,117

16 Reconciliation of Cash equivalents

Cash and cash equivalents At 1 July 2020
£
271,818
271,818
271,818		 Cash flows
£
105,957
105,957
105,957		 At 30
June 2021
£
377,775		 At 30
June 2021
£
377,775
377,775
377,775

17 Related party disclosures

Controlling party

There were no related party transactions for the year ended 30 June 2021.

29

THANK YOU PROGRAMME PARTNERS ALLÈ￿￿￿¥FNy ATKINS Avad4tr 8ionic blme CAA4peELL CLEAR cobalt csm DC DELT GROUP Dowrmng DP9 ED&F MAN eff icio C￿SOrKI FEYER-TREE FICQ four GEOFF NEAL GAOUP hwth GWI. FISHAWACK s)lJlion OIIQVI A. Jellyfish .1.11 i.'IN Ttr Jb MADE. Medallia NAnXIS poll￿￿￿ 11 PoyPd •PitchBr Russeu ReYN￿ •--- SiMF￿y- •ohonot SI'IYMAM STEWART5 tralvAh TRAYPORT rtribal wagamama SUPPORTERS &CET +'tr

future FRONTIERS futurefrontiers.org.uk Regl$terod wllh FR FUNDRAISING REGULATOR

2022-03-18

Final accounts 17032022

Final Audit Report

Created: 2022-03-17 By: Farhan Nagda (fnagda@edgeaccountants.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAoxXHseko_6DzKxV2fg-FT2rZTS25lvXo

"Final accounts 17032022" History

Document created by Farhan Nagda (fnagda@edgeaccountants.co.uk)

2022-03-17 - 3:43:41 PM GMT- IP address: 185.57.32.158

Document emailed to Ben Williams (bhhwilliams@gmail.com) for signature 2022-03-17 - 3:46:08 PM GMT

Email viewed by Ben Williams (bhhwilliams@gmail.com)

2022-03-18 - 7:57:45 AM GMT- IP address: 66.249.93.87

Document e-signed by Ben Williams (bhhwilliams@gmail.com)

Signature Date: 2022-03-18 - 8:30:47 AM GMT - Time Source: server- IP address: 212.63.101.94

Agreement completed.

2022-03-18 - 8:30:47 AM GMT