Compan!, registration number: CEOI14?1 Charits. regisiration number: I17J977 The Marketing Acadcmy Foundation Ichariiable Incorporated Organisalion) Annual Report and Financial Statements for the Year Ended i l Jul). 2024 Hamej & Co Lirniled Chartered Certified Accountants and Reoisiered Auditors 21 Market Place Blandford Forum Dorset DTII 7AF Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academi, Foundation Contents Reference and Administrative Deiails Trustees Report 2to 17 Ind¥pei)deiit Eiaminews Rcport 18 Statement of Financial ActiTrities 19 Balance Sheet 20 Notes to the Financial Siaiemen 211029 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academv Foundation Reference and Administratii'e Details Trustees S Shackell S Morrison N Ford E Sapani L J Goodchild D Fieldino Charih, Registralion Number 117i977 Companw Registration Number CEOI1421 The charii!. 15 iIILuiporat¢d in En-land and Wales. Registered Office 4a Brid(we Streel Nei%'bun Berkshire RG14 SEX Principal Office 1 SE Charlotte Place London WIT ISP Independent Examiner Harnei, & Co Limited Chartered Certified Accountants and Registered AuditQTS 21 Market Place Blandt"ord Forum Dorset DTI 1 7AF BJnk¥r CAf Bank Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
Tbe Marketing Academy Foundation Trustees Report The misiees. who are direaors for the purposes of company law. present the 7th annual r¢pon wg¢th¢r with the flnancial statements and auditors, report of the charitsble company for the year ended 31 July 20?4. l. Aetivllies x#d Impct Intr(xlucti The Markeling Academy Foundation exists to enable career Starts in the marketing industries for young people (18-30) from disadvantaged backgrounds. The marketing industy offers a range of interesting jobs and provides people with satisfying. long-temi careers. But the isidustry do¢s Jiot i¢fl¢¢t a bniadcr socicty in thc makcup of its wtsikfoicc. A recent report by The Sutlon Trust estimaied that among creative workeT5 aged under 35, th¢Te are around 4 times as many people from middle class backgrounds compared to working cl&%s backgrounds. {Across all occupations this imbalance is only 2 to l ) . In 2022. Markettng Week commissioned The Social Mobility Foundation to conduct research on the backgrounds of people working irj mark¢ting and advertising. The survey found that onty 12.5% came from an unskilled working-class backgroun(L 10. I % fr(Hn a skilled working-class background (22.6 % in iotal). while 57•/0 of industry folk came from a middle-class, upper middle-class or upper-class background:. This compares to 31P/o of the UK workforce coming from working Cl backgrounds and 340/0 from middle and upper ci&ss backgrounds. The marketing industy has been the pres¢rve of the middle ¢las5¢s for too lon& and it is not changing fast enough. The Marketing Academy Tr'oundation is dedicated to helping talented. bright young people Irom more poorly resourced backgrounds gain that firsL vital job OprtUnIty in the industy. Their employers appreciate their energy. entrepreneurialism. lack of entitlement and the fresh perspectives they bring to marketing teams. We noted in last year s rewrt the impact of global uncertainty. the cost-of-living crisis and consequential reluctance of fThs to recruiL especially at enlly level. In a Jan 2025 survey. onty 16010 of marketing companies said they had offered enty level apprenticeships in ?0?4. vs 210/0 of companies offering such a scheme in ?023. and 34 % offering such sch¢mes in 2022 . This reluctance to hire at a junior level reflected a hrnader mala7se Tn the induqtry, with vaomcie% in eArty 2024 continuing a downward trend seen throughout 2023. In QI 2024. new pernianent roles decreased by 4W/o for media and by up to 23 % for marketin So. the context in which we operate did not improve in 23r24. As a resulL we switched our effort more towards our new programme. BeTheOne Boot&wnp. which enabled us to SUPPOrt more youns people into thos¢ roles that did exist. rnth¢r than seek roles for them in such a barren hiring landscape. BeTheOne di*s not have a commercial model. so this also Up the ante on funthaising to support IL and we raised the most funding in our hTrstory by creating our own even gaining funding from The National Lottery and generous donations from individuals and Sw)nsor organisations. The National Lottery grant of £20k landed at the very start of fiscal 24125. Cl<LSS ACL The Sutton Trust. November 2024 Z Marketing Week, February 2022 3 Marketing week. February 2025 ' SIA (Stairg Level Analysts). May 2024 Page 2 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy Foundation Trnstttg Report l¥ogramrne summary Tenticeshi We secure 12-month. salaried jobs IApprenticeships) for our beneficiaries in the markettng depatTh)ents of leading companies (hosts) where they leam through a COTnbination of hands-on job experi¢n¢¢ and fornial training. They also have the opportiuiity to study for a nationally recognised qualification in marketin& and most do. At th¢ cnd of this 12-month perioth the young person may secure a p¢nnanent role at their host company. bui. if not. they have a substantial b(Kly of achievements 10 pur on thetr CV enabling them t() wure 2n excellent job elsewhere. The host company fully funds the cost of the Apprentice's wages and our costs in recruiting and supponing the Apprentic¢ and their managers during the rst year. Some hosts use us to employ the Appr¢nti¢e and w¢ '"second" them back to the host company. There is always a variable number of organisations ch(x)sing to operate in this way. and the inclusion of these wages in our turnover can make our headline figures look rather'lumpy" as a result. A better indication of the perforn)ance of this progrdmme is apprentic¢ numbers and service fees. Betheone Bootcam This is a l-daj job hunting skills workshop wbi¢h after a pilot period and a go decision by our trustees on the 9th May 2023. was added to our successful Apprenticeship program. It aims io eXpd our impart by improving the success ral¢ of our beneficiaries in securing marketing jobs on the open markd. ID the pilots c. 3/0 of attend5 had secured a role within 4 months of attending. We offer a day-long intensive workshop providing prnctical advice on how to improve jol seeking sktlls. Attendees understand how to be successful and apply this understanding to their own efforts. The optimised Product now includes: - the variety, of roles in marketing and the aptitudes ihat are most relevani for each. - how to write a Strong CV and Cover Lettff. how to inierview well. live interview practice. including immediate perforniance feedback conducted by experienced voluiil¢ei"s fi.oiii tlir iiiduslr).. Page 3 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Aeademy Foundation Trusteu Report ImpJit )Lininidr¥ In fiscal 23124 we enabled 70 young people to start Careers iti the marketing industries. We had 7 Apprentices in this fiscal year who success1]Y completed the year. (vs 10 in the prior year) and b3 BtCamp attendees who met our KPI of having more confidence in their future job search (vs 30 in the previous year). We therefore helped 70 individuals start a career in marketing. This figure of 70 impacts fell short of our target of IIKI but w&$ up on our 22r23 figure of 40. How we measure our impact For each program we have a KPI-. - For the Apprenticeship program. an impact is the successfill completion of the year-long Apprenticeship: . For our BeTheOne Bootcamp pmgram. an itnpact is an allendee who agrees that the event h&8 given them more ¢onfid¢n¢¢ in their fullwe job search. It should b¢ noted that we do not regard BeTheOne impacts a8 equivalent to Apprentice impacts. and we will always strive for at least 10 Apprentice starts every year. The emplo)Inent clima has been particularly challenging this year. We aligned our beneficiary eligibility exactty acmss the two programs so that we could offer optKYrtunities to all attendees. This additional strictness does of course result in fewer attendees being eligible lo attend BeTheOne. One small but pleasing oulcome of the synergy between our tsvo programmes was that one of our Bootcamp Att¢ndee5 secured one of Apprentic¢ ro1¢5 at Aniawn as a Creative ProjeLI M7¥¢ (£uid trL¥Nily h<iLJ h¢1 LvntrdLI extende(L because of hcr strong perforniance). The Apprenticeship Progranme in m(r¢ drfail For the purposes of this report we divide our apprentices into two &qmps: those who started their apprenticeship during the fiscal and those who completed their apprenticeship during the fiscal. (We don't have set enrolment periods - it is a rolling progrdmme to suit host company's recruitment needs). Over the course of the 23r24 rCal. w¢ supw)rted a coh(fft of15 young tyl¢. including both the starters and finish¢rs and one non-completer. The 23/24 starters Over this fiscal year we placed 7 young people at 3 differeni ho companiffj Ama7A)D (3). Hotel Chocolat (21 and British Heart Foundation (2). The 231?4 complclers Across the year. 7 starters (from the previous fl'S cohort of 8) complet¢d their 12-month program with us. One apprentice started their year An ??123 but failed io complete. leaving the program in 23ll4 fiscal. Despite much support and oaching that individual w&$ unable improve their time keeping and ouw and so their employment w&8 con¢ludcd. Due to the unfavourable exteTnal environmeDt and an internal restructurin& one returning host company, William Grant & Sons. consulted us and together we felt it w&s in all interests that their 2 apprentices ntinUed in employment with them. This created no space for new rnits here. depressing our new start¢r impact numbers in this fiscal. but opportunities should open up a8aiti iti 24r25. We consider an outcome successful if an apprentic¢ ¢omples the 12-rnonth apprentiteship. This is recorded as a Successful Outcome. Given we had 7 complete the program in ?3r24. from 8 starters iti 2? 3, this gives us a successful outcome rate of 87 %. In addition, we monitor our alumni for the 12 months post graduatin& and record a successful outcome plus. if they secure a full lime. salaried role in marketing. Of the 7 who were Successful 0cOme& 5 went on to secure marketing rol¢s (3 with roll-over Contracts with their apprentice bost). Page 4 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy FouDdation Trustees Report Outcome by fiscal year Apprent iarring Appl lin8 apprentices We worked with a smaller nUrn of host companies in 23124 than in th¢ lasi few years. but each host Ik at least two apprentices. Hotel chocol was a new hos4 whkle BHF w&s a rewming hosi and Amazon an ongoing hos(. In addition. as ststed WM Grant & Sons relained their 2 Apprentices through the fiscal year. We would I[¢ to br(Kden our host b&5¢ and will continue to explore diffent approaches to bost devel(fMJent in the next fiscal. Number of different hosts by fiscal year 16117 17118 19 21 112 23124 Because we have had a couple of years of declining numbers of hosts and therefore op[UnItieS for our young people. we began a'floorboards up" review of the Apprentice programme towards the end of the year. We conducted a focus up of CMOS. to inform any NPD 01 inttiativ¢s to open up more job roles for our beneficiaries. The conclusions and actions arising from this WOTk will tske effect in fiscal 24125. Page 5 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
Tbe Marketing Academy Foundation Trustees Report esu e 12months Beyond experience of doing real maTketing work in an excellent ¢ompanJ'. being managed by experts. our apprentices are also supported in that work with regular I: Is with us. We also enroll the apprentic¢s on a fOnal qualification, enrich their work experience with in-house trdining and provide 1-2-1 job-hunting help lowards the end of the apprenticeship. This additional support throughout th¢ yeaT equips our beneficiaries with knowledge. confidence. and contacts, to compete in the job tnark¢l in fittuTe. QualificatiOPLF Wr sclv¢l. in cvN5ultation with our beneficiaries and their line manager. qualificl0s that will complemeni what they are learning on th¢ job and suit their learning stylelaptitude. This year, of the cohort of15. 5 were enrolled onto stattstory Level 3 maALeting apprenticeships: I has started but not yet passed the IPA Foundation Certificate. I has done two storytelling with data courses: I h&$ passed Facebook Blueprint: 3 have done D&AD courses (art directing and copywriting). I IMS passed the IDM Award in Marketing. and 2 have passed Ihe CIM Level 3, Part I, Principles ID Marketing Award. We are. as always. grateful for the support of both the IDM. IPA. D&AD and CIM and their generous provision of discounied courses for our beneficiarie& Bespoke training Our bespoke training sessions take place as monthly. half-day. in-person sessions. covering marketing theory. marketing practice and personal development. The training is led by industry practitioners, who share their experien¢¢, wisdom and practical advice with our beneficiaries. This year sessions were delivered by Gavin McGrow. Scott Morrison. D¢nazir Batsd Calvin Lau. Pi"iya SivtThlltUi, Andi Jarvis and Dax Callener, {&s well as TMAF stsff members). We are grateful lo them all for the time given so generously. We solicit feedback from the attendees for the s¢ssion& trdcked against 4 key crileria: go(xl overall. was usefuL was fun, was int¢resling. The response is strongly positive, and we aa on the feedback to thiv¢ improvements. In previous y¢aTS. our training space has been generousty donated. However. this year. we elected to pay for a pennanent home for our training. The trend for morc cmployces returning to th¢ workplace, in otTicc spac¢ tliat l)ad been rcduced during the pandemic. r¢suhed in free space being unavailable to us or Worse. offered and th¢n withdrawn at short notice. We needed a more reliable base for this monthly activty. Employabilitypractical coaching As each apprentice approaches the flo 3 months of thcir 12-month progrdmme. we wotk with them to improve their jo hunting skills. This involves coaching on writing a compellin2 CV and cover letter. bow to prepare for interview and interview practice. if desirf when an interview is secured. Page 6 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy Foundation Trustees Report In one of our Iiatin rentiee's own words ' fyou h( told me Iwoyears ago ihat J'dbe worknng wilh ofihe world s lop whisky brand5 iheir Global Marke¢ing Apprentice-traveling lo India. (andfly busine55 elassll) have the opportunity lo leadon a conlenl planfrom stralegv ¢0 ecUtion among5150 mary, oiheTplva1PrOJe¢1$. l H'ould have never beliek'edyou. Infacl, I didn'l even know global marketing a viable CareerPlI nor did l knowju51 hom va51 lh indwFlr)' reall}, is. Discovering th side ofmarkeiing andhaving ihe oppornthity io shape a brIV.5 presence on a global scale been so excifing and eye-opening and I can'l imagine doing aryihing else. It if all thanks io The Alarkeiing Acadeng. Foundalion s dedication to bridging the gap befween individuals like me and these lrfe-changing opportunilies. I am h'ondgraIefv1fl0r ihem und iheir incredible ie Mia Balogun, William Grant & Sons Ltd Bethd)ne B(x)icamp in more dctsil W¢ have refined the BeTheOne bootcamp having had three pilot events in 22123. In our pilot y¢ar. we followed up with the BeTh¢One delegaies for three events and es(imaie thai c. 3(P/o secured markeiing roles within 4 months of attending. We did not validate this in the 23124 fiscal but will review this lodie8]lY in fvture. Events condtscted We delivered 7 BeTheOne Bootcamps. including one organised by Digileaming and the Financial Times. Where we could be confident in the eligibility of the candidates. our EM)otcamps supported 63 individuals in 23124. All took place in London. R¢gr¢ttably two attempts to delivcr in Manche51er and Binningham with partner oiganisations were unsuccessful. We remain committed to seeking organisatÈons that can provide cohorts of attendees for us. as the recruitmenl of attendees is tim¢-consuming. We have a very effective progrdmme. and our focus for the futur¢ is to make li bigger and more ctTi¢icnt to d¢liv¢r. The 50150150 ratios for Registration&Eligibility OKIShow up on the day proved themselves &8 a rnle of thumb for the year, and this enabled us to plan space and the number of volunteers fairl>. accurdlely. We measure our impart from one key question in our participant feedback. In all Ixx)tcamps. lo/• felt more confident in th¢ir futureiob search and this higb endorscmcnt Or¢ m¢ans we impacted 63 young peoplc ID fJ5cal 23r24. Page 7 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy FoundatioD Trustees Report Betheone progress Panici ant feedback We conduct a participant feedback survey at the end of each Bootcamp. not onty to collect our key KPI. but also to ensure that our content remains rel¢vanL motivating and effective. The surveys comprise 16 questions. are anonymous and include the opportunity for commenL In ?3n4, we received l Oif/o agreemenT with our key KPI - panicipants agreeing with the swemeni -1 feel more confideni in my fiiture job search since attending the Session" Any disagreeing are not counted tn our impact nurnbcr5. Our averdge score was 4.8715 across 6 bootcamps and the other rating we were ple&sed to note ai I/0 w&s the "recommend to a friend" score. a questlOD many organisations ask to measure customer satisfaction. In genernl. the feedback on specific content is ovenvhelmingly w)sitive. Nevertheless. we use the feedback to improve IL Specifically, we made changes lo our sections on explaining the different roles in marketing and how to write a ¢ov¢r letter. would Overall Ratlng Date Key KPI . recommend to a friend Score15 Aug-23 Sep-23 Nov-23 NIA" NIA NIA 100 100 100 4.82 100 Feb-24 100 100 Mar-24 100 100 May-24 Jul-24 100 4.88 100 100 4.67 100 AVERAGE 100 4.87 100 * q6 aBreein8 wrth .1 teel more contident in my tuture job search since attending the session. . NIA r)ecause partlcipants rectuited by third party. Page 8 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy Foundalion Truslees Rert Below are two ¢xampl¢s of typi¢al f¢edback. 15 Is thvE 6rrytlNny we cvuld Iv¥t o hir4 io In an attende¢'s words Yhe mosl valuable ofall events I have attended li gave me a deeper understanding ofthe mary roles wiihin markeling and waclical iools to improve mv CP" and inlerview skilLs. The ponel disC¥S1o Mlere inLr#dib4. Ill*PlTiyJg, offgTing real Jight in¢0 the indusiry,. A also had (he chance io lake part in a mock inierview th left mefeeling more corfident and encouraged. I'm walknng a'feeling mo¢tvated.focuTe4 and e¥citedfor whal's n£." Malalka Eyebl-Kadock Page 9 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Markeling Aeademy Foundation Trustees Report We also found very high endorsement and support from our many volunteers. who were generally marketers of repute in the industy or top executive search consultan. They also helped to build our profile on-line with positive endorsements of their ¢xperi¢nc¢. At the very end of the financial year. we received a generous offer from M&C Saatchi. the world-famous advertTsing agenc).. to use their rooftop meeting space free of charg¢ for BeTheOne. This is a spectacular venue. and the agenc). brand is an exciting draw for attendees. The first Booicamp at this venue was bked in for October 2024. and at the ttme of writing, we continue to use their p15¢5 as a ktnd and much appreciated donation. 2. FundrAising and Donations On May 9tlL 2023. our Trustees agreed thai BeTheOne would become a peanent part of Th¢ Marketing Foundation's offer. accepring that il would initiallv be funded b). cash balances and a small number of large donations. li also clear that this decision would put more ongoing fundraising presswe on the organisation and sustainable fundraising for the progrJmm¢ a clear long¢r-tCrnl goal. B¢cau5¢ of the intr(Kluction BeTheOne Bootcamp, we started to focus more OD fundraising in 22r23. the impact of which was felt in 23124 and Wond. We increased income from fimdraising and donations from £45.(KA in 21Q3 to £58.919 in 23124. This more than recovered the loss of income from one regular. major donor who found they could not support us much financially this year. This supwrt is likely to bounc¢ ba¢k in 24r)5. Our heartfelt thanks go to all OUT generous SUPFK)rter5 in this fiscaj year. We could not have delivered what we achieved without you in this more ¢ha]lenging ycar. Page 10 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Aeademy Fovndation Tntee5 Report A number of fimdraisin activitie An Evenin with Mark Ritson. This was a large. ticketed fundrnising speaker even( an evening with Mark Ritson, which launched in August ?0?3 and successfully look place in Ociober 2023. The event was attended by over 400 people and was kindly sponsored by Fortune Hill. Landor and ThinklK)x and made a profit of c. £17k. It also yielded one company who wish¢d to host apprentice& and at the time of writing is a satisfied and repeat customer. Th¢ Scholars, Book club. This is a fundraising series of c. 4 speaker events per year, in partnership with The Marketing Academy Scholar Alumni, each featuring an author of a marketing or business book. The pilot took place in June 2024 and rnised £3k in income with a small profit. It was an cnjoyablc. r¢putation-butlding event and this proof of principle encouraged us to continue the series. Our second event launched in July 24 with Rory Sutherland as a very high-profile speaker. The event itself happened in October (fiscal ?4I?5). .J.tI L.IMI kj .&IJL _AI AJ We thank Ange Morris for leading the Scholar Alumni volunteers to sell tickets. and Duke Tanson. also a ommitted volunt¢¢r for this proaMe. We secured funds from a ma or ivin For the first time, we approached grdnts and foundations for fundin& and our efforts were rewaTd¢d with one grant of £?Ok from The National Lottery Community Fund to support BeTheOn¢ Bootcamp. The grant was received the slart of fiscal 24125 to be spent over the next two years. COMMUNITY FUND Worshi ful Com of Marketors Grant We gratefully received a substantial grant from this industy body. which enabled us to create a new video and buy a database to upgrade our rnarketing efforts. The datab gen¢rat¢d awareness and attendance at our fidl5]ng ev¢nts, but did not drive apprentice recruitment hoped. It was uplifting foT US to convene some of the young ppIe from both programmes to create the video, which we sthrted using in 20?415. Other donations Over th¢ course of the year. we received a finlher L?9.013 in donat$. We were gr&ful to receive a SIlficant donation again this year from Max Hoppy * the Hopkinson Fowidarion as well as substhtial donations from The Marketing Academy, The Marketing Academy Scholars and Much Ckarer. We thank everyone who h&s given us their hard-eamed money this year. Pagell Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Aeademy Foundydtion Trustees Report Sustainable fundraisin for the future As part of our desire to fmd more long-teTm sustainable SoUrS of fundin& one of the sponsors of the Mark Ritson fwidrnis¢i". Foitwic Hill. approach us to offcr to I}k¢ us a beneficiary, of a malketing industy quiz evening. Their first event in Decembcr ?023 a hug¢ success and they iniended to create an annual industiv fundraiser. Plannin8 with us began in mid-July 2024 and the event t( place . November ?0?4 (ral ?4r25}. 3. Our tea We retained a team of 3 pernanenL part-time employees throughout 2if24. We have a panel of around 40 volunteers who supwrt B¢Thd)ne bootcamp in our practice interview sessions with c. 12 being needed on any given day. We thank them for their time. their wisdom and their inspiration. This is the part of th¢ day that the attendees enjoy the most. Volunteers also provide the majority of our in-house Apprentice training gessions. 7 supporting us this year. The CEO advised the board early in ?024 of her wish to retire as CEO. but to remain as a Trustee if possible. The reason for this was to bring in fresh thinklng and enc after a 7-year tenure. The Ixmrd approved this change and the search for the new CEO began in July 2024. We were flattered to receive 172 applications and an extremely high calibre ofapplicanls. The interview process concluded in QI 24,r25, and our first choic¢ of applicant xcepted the role. At the tim¢ of writing the reporL Llanre Robknson accepted the position and is now in FM)sL 4. Other We continued to upgrade our policies and governance throughout the year. 5. Financial Results- August 2023- Jufv 2024 Reportin8 We report on an accruals basis. We make a distinrtion between the income received that will be passed through to ihe Apprentices for wages and iraining. and income io cover the cost ofthe charity's work. which we describe as Service Fees. Service Fees cover our time costs required to recruit. support. train and offl>oard the beneficiaries that host companies require. We include a margin to conlribuie to our overhead costs and io fund ihe developmeni of new programs. Service Fee income (a5 well as beneficiary numbers) is a more accuraie indicator ot.our growth than headline income. as the headline number is dependent on ihe mix of hosl companies choosing to employ our beneficiaries direcily or remunerate us to employ them. Page 12 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy Foundation Trustees Report Performance summary D¢spiie a year thaz fell ditriculi. the finances are very stable. Headline income increased by 8.4V/o from £185.271 to £200.797. Expenditure reduced by 1.8 % was £?16.460 (?j,n4) vs £??0.417 (??n3) but exceeded income b). £15.653. Costs were not cut to bring the figllres in balance as we chose to Tnvest in the new Bootcamp progratnme to drive our impact and in th¢ fundraising n¢ed¢d to support this programme in the long tenn. Ii is nice lo note thai this is an improvement in th¢ deficit in ?0?3 which was £35.146. As with last year. a strong opening cash balance supp)rted the >'ear. Perfomiance Detsils Ineome INCOME 23124 (£) 22123 (£ Apprentice Wages and Training Service Fees Total Charitable Activities Donations (including gift aid) Events 64.737 76,910 141,647 46,701 12.218 58,919 231 84,241 55,701 139.942 45.064 Total Donations and Fundraising Investments 45,064 265 Summary.. Jncomefrom charitable activities Service Fee income increased from £55.70] {22123) to £76.910 (2JQ4). We received f¢¢s for 7 new apprentices and to continue our support for 2. Mosl of this variance is due to phasing and acc15. Apprentice Wages and Training fell from £84241 to £64.737. This drop is due to only Iwo apprentices being employed by us on behalf of the hosts in this fiscal vs 3 in th¢ prior year. Amazo Hotel Chocolal and British Heart Foundation all employ their apprentices direct. In total our income from these charitable activities rose 10/0 from £139.942 to £141.467. Incomefrom donations andfvIra1slng activities We incre&sed income from fundraising and donations by 30.750/• from £45.064 in 22123 to £58,919 in 23r24. We also notc thai this amount would rise 10 £78.919 ifthe Lottery fimding were included - secured in ?3Q4 but paid at the start of 24Q5. This will be a nice iM)ost to the 51art of the next fllLincial year. On the downside. on¢ major dofjor. typically boosting our fimds by ¢. £20k per year. found they could not support us &s much this year, but this is likely to bounce back in 24.Q5. Page 13 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy FouodatioD Trnstees Report Expenditure Jummary.. PENDITIJRE (£) 70,038 12,221 94,410 7,486 11.339 195.494 15,956 5,000 20,956 216A50 (£) 91,490 3212 Apprentice wages, quals, training & exps BeTheOne Bootcamp workshops Management Wages and Salaries Allocated Support costs Governance Costs Total CharltabLe Activltles 110,138 10,517 5.060 220.417 Marketing and publicity Other direct costs Total costs of generating donations 220.417 In this fiscal. total expenditur¢ was £?16.460 (?3Q4) vs £220.417 (L?n3). down just i.801 but exceeding income by £15.653 vs a larger deficit in 2023 of £35.146. Fortunately. healthy c&sh balances have been able io cover the gaps in both years. twv rnajor irn5 of expenditure: Money paid to and for beneficiaries. including wages and their course.$ 2nd quxlifieatinns. As with nijr income, this varies depending on whether we employ the apprentices or not. In 22r23 we spent £91,490 h¢r¢. it falling to £70,038 in 23Q4 du¢ to die teduLlivii uf nuin1r& ¢tnpluyvd. This reflects the fall in income for this purpose. (Trjote: some of the costs included totals, such as training venue hire and recruitinent adverttsing are covered by service fee income.) Management wages and salaries. This also reduced 16.70/0 Yoy from £l10.138 to £94.410 due to the departure of one stsff member who we chose not to replace. using freelancers a5 n¢cded. Most staff time is spent on delivering the charitable acttvities. More time would have been devoted io fimdraising this year and much of this was unpaid overtime. We thank those sLgff who have given us extra time this year. Notable variations Yoy were &s follows: Dir¢rt costs of fundrnising activities. totaling £20.956 in ?024, which we did not incur in the prior year. 2. Bootcamp workshops. principally the premises costs. which rose from £3212 to £12221 reflecting the strategic d]Sion lo grow this programm¢. Suppvil Lus15 risin¥ froin £S.000 10 £11.339 due io the switch a new accounTancy fTh and onl)oarding them. 4. Training venue hire from zero to £2?30. 5. A reduction in staff NIC from £621 I to £2191- one person became exempL A reduction in software and consumables from £3542 10 £1 l(Kl. Balance Sheet We concliided this year with assets of £SQ.674. lower than the £75J29 retained in 2021Q3. Both years include £30k of operational T¢rveS. Page 14 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
Tbe Marketing Academy Foundation Trustees Report 6. Ratio of Charcx and Admin and Fundrni5ill8 Direct Fundraising cosLs were £20.956 this yrar and it is estimated tha£ c. 251/1• of paid staff tsme was devoted to fundraising and adminisrdtive activities this year. with some extra time being volunteered. The value of this rime is £23.602. In total, then, 8/0 of all expenditure is devoted to beneficiaries and 200/0 on admin and fijndraising. Ivhilst this is not an unreasonable rdtio, we are conscious and grateful that il was achieved by the generosity of our team working unpaid ov¢rtim¢, a way of WOTking w¢ do Dot int¢nd to 5UStain. 7. Fulure and Going Concern Wc startcd 2024125 with thc rcccipt of a lott¢ry grant and thc fundraiscr at thc start of 20?4Q5 addcd significani cxtra income, building on an improved year for voluntar), income in ?3n4. Truslees are mindful of the income generalion pressure of continuing to fund BeTheOne. but the sums rdi5ed for these iniliatiV¢s give confidence that the programme can be funded in a sustainable way. Although income from Service Fees was ILK)kin8 uncertain at the outturn of 202314. at the titne of preparing the accounts in spring 2025. we are seeing I711e 11K(e and c(riellts fr[ bost C(Inpnies being rore The momLYiwm &lded ty our new CEO is atso creating intere &xI the is stsrting to gth Mion in her in]tLVeS for additional incorne. F(tUne Hill and The Marketing Acthly have c(on a Ihiz fillth1. as la& year. with us as LH]e of the two Cho chartties. In lditiO Tejucing stsff cots could mitigate any incffl)e slM)rtfalL and we rnain in Reserves any apFrntice wagL% liabilities plus a fith general reserve of £30k to wver the neal f(r staff to and train aliCe$ fthe dur&Th of their Apprenticeships. The Trustees are thereftht confident that the chartty remains a going concern. 8. Publie Benefit Aclivities undertaken to further Public benefit are io advance ihe education and tratning of young adults aged l 8-)0 from challenging backgrounds through th¢ provision of access to high quality employment opporruniiies. including but noi limired io appreniiceships, aining and suppon zo help ihem achieve sustainable careers in the marketing industries. By challenging backgrounds. we mean young people aged 18 - 30 who have spent time in Care. who have had economic hardship in their lives and those whose lives have taken a wrong turn but wont to get back on lh¢ right track. The trustees confim that they hav¢ complied with the requirements of section 17 of the Charilies Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. 9. Structure. Governance and nageMeI Nalure ofgoverning document The charity is governed by lis Charitable Incorporaled Organisation (CIO) Foundation constitutioo with only voting member5 being its charity trustees. Organisational sIrucrE The key management is the CEO. Daryl Fielding and the General Manager. Olivia Johnson. Th¢ General Manager reports lo the CEO. Recruilment andappoinimeni of Tn<sie So far, Trustees have been recruited from the Chair and CEO'S network of professional coniacts. to creaie a high calibre board. comprising diverse individuals with a rdnge of relevant skills and experience. both protessional and lived. Appointments are made for thr¢¢ years. wilh an ¢xlension to a maximum of nine. except for Sherilyn Shackell. currently ihe board Chair. who is a lifetime Trusiee. The phasing of appointments is such that board tnember5 do not all stand down at once. Future appointments will be publlcly advertised. and a small Page 15 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academi, Foundation Trustees Report People Committee will mak-e the selection. .Arrangemen15for seling ka. managemeni personnel remuneralion The CEO mak¢5 a recommendation to the Chair regardino both individual%, laries. benchmarking vs equivalent roles in charities of a compardble size. The Chair scrutinises ihe recommendation and seeks approval from the board of Trusiees. Public benefit Activilies uv]dertaken to further public benefit are to advance ihe educalion and training of )'oun(F adults aged 18 -30 from challenginu baCKround5 throuoh ihe provision ol- access to hioh qualit) emploNineni opponuniiies, includinrt but noi limited io apprenticeships. training and siipport tn help them achieve sustainable careers in the markeiino industries. B!, challenging backorounds. we mean iounu people aoed 18 io h0 have spent time in care, who have had econimic hardship in their lives and ih05¢ whose lives have itiken d wivIi¥ lui11 but want to gei back on the right track. The tnistees confirm ihat the), have complied wilh the requirements of section 17 of the Chariii¢S Act ?0 I I to have due regard to the public benefit guidance published b5 Ihe Charity. Commlssion for En.land and Wales. Structure, governance and maThagemenl Naiure ofgoi'erning documenl The charitv is governed b). its Charitable Incorporaied Organisation ICIOI - foundation constitution. with only voting members being ils charity, trustees. Organi.¥alioxal strucluré The ke}, management is the CEO. Dary'l Fieldino and the General Manager. Olivia Johnson. The General Manager reports to the CEO. Recruilmenl andoppoinlmenl ofiruslees Iniliall}'. trustees have been recruited from the Chair and CEO"s nem'ork of professional conlacts. to creaie a high calibr¢ board. comprising diTr"erse individua15 with a range of r¢levanl skills and experience. both professional and lived. Appoiniments are made lor three l'ears. ii.'ith a possible extension io a maximum of six. ith the exception ol Sheril)'n Shackell. currenil!. the board Chair. ilho is a lifetime TSte¢. The phasing of appointments is such that board members do noi all sthnd douTr at once. Future appoinimenls rIll be publicls, advertised and a People Committee iiill make the s¢l¢ction. Arrangementf for setting ka, managentenipersonnel remuneraliom The CEO makes a recommendation lo Ihe Chair reGarding both individuals salaries. benchmarking vs equivalent Toles in charities ol a similar size. The Chair scrutinises the recommendaiion and seeks approval from the board of Trustees. Tr'inancial instruments Objec'tives andpolicies The charity s activilies eipose il to a number of financial risks includino credit risk.. cash flow risk and liquidity risk. The chariry does nol use deriTrative financial instrumenls for speculative or any other purposes. Cujliflvw ri5A Thc chitV'S activitics do not expose it to Si2nificant financial risks such as changes in interest rates. Page 16 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academ!, Foundation Trustees Report Credii risk The charity s principal financial assets are bank balances. the Credit risk on ihese liquid funds 15 limited because the counterparties are banks with high credit-raiings. Statement of trustees, responsibilities The tsle¢S (ii'ho are also the directors of The Marketin? Academ!. Foundation for the purposes of company laii'l are responsible for preparing the trustees, report and ihe financial statements in accordance 1th applicable la and United Kingdom Accounling Standards (Uniied Kinodom Generall! Accepted Accounling Practice}. including FRS 102 "The Financial Reportino Standard applicable in Ihe UK and Republic of Ireland" CompanN la, requires ihe trusiees lo prepare tinancial slalemenls for each financial >'ear. Under companv la, the trustees must not approi.e the financial slatetnents unless ihei. are saiisfied ihal theN give a true and fair view of the state of affairs of the chariiable companN' and of ihe incomin2 resources and application of resourc¢s. including its income and e_ipendilure. of the charitable compan!. for thai period. In Preparing these financial statemenls. Ihe trustees are required io= select suiiable accounlin policies and appl!. them consisienil)" observe the methods and principles in the Charilies SORP- mak'e judtyement5 and estimates ihai are reasonable and prudent. stale M'hether applicable accountino siandards. comprisints FRS 10? have been folloiied. subject to any material departures disclosed and explained in the financial statements- and prepare the financial statemenis on the ooing concern basis unless It is inappropriale io presume thai the charitable compan), will conlinue in business. The trustees are responsible for k'eepino proper accouniin(F records that can disclose with reasonable accuracy at an). lime the financial posilion of the chariiable companN and enable them to ensure thai ihe fanCIal statements compl>. '1th the Companies Act 2006. The! are also responsible for safeouardino Ihe assels of the charitable compan! and hence for tak'in? reasonable steps for the preN'ention and deiection of fraud and other irregularities. The trustees are responsible for the mainlenance and inteirits. of the corporate and tinancial infonnaiion included on the charilable compan) s i¥ebsile. Leoislation governin2 the preparation and dissemination of financial siatements may differ from letsislalion in other jurisdiclions. Disclosure of information to auditor Each trustee has iaken steps ihai iheN ouohi to haN'e taken as a trustee in Order io make themsele$ a.are of an! releN'ant audil inforn)ation and to establish thai ihe chariii's audiior is ai%are of ihai intorniation. The trusieeq confirm that iher¢ is Tho relevant inforniation thai thel. kno of and of 'hICh the). know the auditor is unaware. The annual report was approved b). the truslee5 of the charit!, on 19 Ma). 20?5 and siuned on it5 behalf by.. S Shackell Trusiee Page 17 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Aeadem). Foundation llldepelldent Examiner's Report to tbe trustee5 of The Marketing Academv Foundation ('the Company,) I repon to the charit! trusiees on m), examination ot the accounts of the Charitable incorporaied ornanisation for the }'ear ended i l JulN' 20?4. Respon5ibilitie5 basis of report As ihe charitN' s Irustees of ihe Charitable incorporated oroanisation land also ils direclors for the purposes of cornpan! laii. l )'ou are responsible for ihe preparalion of ihe accounls in accordance with Ihe requirements of the Companies Act 2006 ("the 2006 Act.). Havino satisfied myself that the accounts of the Chariiable incorporaled organisation are not required to be audited under Part 16 of the 1006 Acl and are eli?ible for independent examinalion. I report in respect of my examination of N'our charitN s accounts as carried out under section 145 of (he Charities Act ?0 I I I'the 2011 Act. l. In cani'ing out MN eNaminalion I have followed the Directions given bN the Charitl Commission under seciion 145151(bl of the ?0 I l Act. Independent examiner's Statement I have compleied MN. examination. I confirni thal no matters have come to my attention in connection with the exatninaTion giving me cause to believe= accounting records 'ere not k'epi in respect of The Markeiin? Academj Foundation as required by section i86 of ihe ?006 Act- or 2. the accounts do not accord with those records- or i. the accounts do nol compl! 'Ith the accountinLTr requirements of section i96 of the 2006 Act other than anN' requirement ihat the accounts give a 'true and tair %'iew' th.hich is not a matter considered as part of an independent examinalion. or 4. the accounts have not been prepared in accordance ii'ith ihe methods and principles of the Statement of Recommended Practice for accounlints and reportinu b!. charities applicable to charities preparing their accounts in accordance M'iih Ihe Financial Reportin sdard applicablc in Lliv UK diid Rcpublic of Ireland IFRS 10? }. I hal'e no concerns and have come acros5 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper undersianding of the accounts to be reached. S J HarneN' Chartered Certified Accountants and Reoistered Auditors 21 Markei Place Blandtord Forum Dorset DTII 7AF 19 Ma), 2025 Paoe 18 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academ) Foundation Stlltement of Finaneial Actii'ities for the Ycar Ended _I1 Jllli, 2024 (Includin% Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unreslricted funds Total 2024 Nole Income and Endow'ments frvrn: DonatiOT15 and le.4acies Charitable activities Oiher Iradino activities Iiivrsliiieiit iiiroinc 46.701 141.647 46.701 141.647 ?31 Toial income ?00.797 200.797 Expendilure on: Raising fund5 Charitable aclivities {?0.9561 (195.4941 (?0.956) (195.494 Total expenditure Net e.xpenditure (?16.4$01 1?16.4501 (15,6531 {15.65i Net movement in fund5 (15.653) {15.65i) Reeonciliation of funds Total funds broughi torward Tothl funds carried forward 18 59.674 59.674 Unrestricted funds Totgl 2023 ote Income and Endowments from: Donations and legacies Chariiabl¢ actii'ilies Investhient income 45.064 45.064 l j9.94? 139.94? ?6$ Total income 185 ?71 18$ ?71 Expenditure on: ChariTable activiiies 1220.417) {220.4171 Tolal expenditure {?70.417) {220.4171 Net expenditure (J5.146) (jS.146) Net movement in funds (i5.146) (j5 146) Reconeiliation of funds Total funds broughi fonward 10.475 110.475 Tolal funds carried forward 18 75.329 All nf the charity s activities derive frnm continuing operations during the above two period5. The funds break.down for 202i is shown in note 18. The notes on pages 21 to 29 forni an inieoral part of these financial siatements. Page 19 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academi. Foundation (Registration number: CEOI1421) Balance Sheet as at 31 Juli. 2024 2024 2023 Note Fixed assets Tangible assets 14 1?9 258 Current assets Debiors Cash at bank and in hand 23.641 7,418 1!2 ?47 16 146.179 159.665 Creditors: Amounts falling due wilhin one vear 17 (86.634) 184.5941 Net eurrent asse¢5 75.071 Iyet assets 59.674 Funds of the eharil): Unreslricted income funds Unrestricied funds 59.674 75.3?9 Total funds 18 $9.674 75.)29 For the financial )'ear endiniw i l Jul}. 20?4 Ihe charit), lias entiiled to exempiion from audit under section 477 of the Companies Act 2006 relatino to small companies. Direciors, responsibiliiies.. The members have nol required the chants. to obiain an audii of its accounts for ihe )'ear in question in accordance with section 476: and The directors acknowledge Iheir responsibilities for complvino '1th the requirements of the Act with respect to accounting records and the preparaiion of accounts. The financial statements on pages 19 to ?9 were approved bv the tNstees. and autborised for issue on 19 Maj 2025 and 5i¥ned on their behalf bi.: S Shackell Trustee The notes on pages 21 to ?9 forni an inle{Fral part ol these fmancial staiernen. Page ?0 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy Foundation Notes to the FinaDci&I Slotements for the Year Ended 31 July 21b24 Charitv status The charity is limited b), uarantee. incorpordted in En21and and Wales. and consequently does not have share capital. Each of the tnIstees is liable lo conlribute an amount not eiceedino £ l ioiiards ihe assets of ihe charitv tn the event of liquidalion. The addre55 of its registered oifice is: 4a Bridoe Streei Neii'but), Berkshire RG14 SEX The principal placc of business IS= 15E Charlotte Place London WIT ISP These financial statements were authorised for issue b). the ttustees on 19 Mas. ?075. 2 Accounting policies Summarv of significant accovnting policies and ke!, accounting estimales The principal accountino policies applied in the preparation of ihese financial statemenis are set out below. These policies have been consistentl J. applied to all the N'ear5 presenled. unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance thith Accouniino and Reponinu by Charities.. Statemenl of Recommended Practice (applicable to charities preparing iheir accounts in accordance thith ih¢ Fiiiai)iial R¢portinL Standard applicable in the LiIK and Rcpublic of Ireland l FRS I O? )} lissued in October 2019) {Charities SORP IFRS I O?11. the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act ?006. Basis of preparation The Marketin2 Academ!, Foundation meets the definition of a public benefit enlity under FRS 102 1 A. Assets and liabililies are initiall). rec02nised at hisiorical cost or transaction value unless othenvise stated in the relevant accounting polic). notes. The financial stalemenis are prepared in Sterling. which is the functional currency of the enilj!. and rounded 10 the nearest l GBP. Going concern The tNstees consider thai there are no malerial uncertainties about the charitsi's abilits, to continue as a going concern nor an}, significant areas of uncenaint)" that affect the carying value of assets held bN' the charitN'. Exemption from preparing a cash tloM' stalement The charity has taL'en the option not to include a cash flow statemenl in these financial statements. Income and eudow'ments All income is recognised once the chariN, has entiilement to the income. it is probable thal the income will be received and the amount of the income receI.able can be measured reliabl).. Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Aeademi. Foundation Notes to the Financial Statements for the Year Ended 31 JulTr' 2024 Donalions and legacies Donations are reco?nised when the charity" ha5 been nolified in MTiiing ot both ihe amount and settlemeni dale. In the evenl Ihat a donalion is subject to condilions that require a leN'el of peTforn]ance bN' (he chariN' betore the churits. is entitled io the funds. the in¢ome is deferred and noi recoiynised Lintil either ihn£e. c.nnditinns are full). rnet. or the fulfilment of (hose conditions is h0111. 'ithIn the control of ihe charin.. and it is probable that these condition5 will be tiiltilled in the reporting period. Invesfftient income Dividends are recognised once the dividend has been declared and noitfication has been received of the dividend due. Expenditiire All e.xpendiiure is recoonised once there is a leual OT constnjciive oblioalion to that expenditure. it is probable settlement is required and the amouni can be measured reliabl!. All cosis iilluLdL lu ilir applicabl eipendiiure headino ihat a(F£reoaie similar cost5 to thai caieoon. Where cosls cannoi be directlN' attributed to particular headintrs theN' hale been allocaied on a basis consisieni wtih the use of resources. 'Ith central staff costs allocated on the basis of lime spent. and depreciaiion charoes allocated on the portion of ihe asset's Use. Other support costs are allocated based on the spread of staff c051s. Rllisin£funds These are costs incurred in attraciing voluntaTr' income. Ihe management of investhienis and those Incued in trading activities that raise funds. Cliaritable aeiii'ities ChariLible e.¥penditure comprises ihose costs illcued the charity in the deliveTr of its activities and services for its benefict2rie%. Support costs Support costs tnclude central functions and have been allocaied to activity. cost caiegories on a basis consistent wilh the use of resources. for example, S1[ costs are allocated b) the lime spent and other costs b), their usage. Governance costs These include the costs altributable to the chariti s compliance m-.ith consiitutional and statutor?, requirements, including the required independent revie.. strategic managemeni and trus(ees' meelings and reimbursed expenses. Taxation The charity is considered io pass the tests set out in Pardoraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a chariiabl¢ compan!. for UK corporation tax purposes. Accordingly.. the charity, is potentiallTr' exempt from t&xation in respect of income or capilal oains received '1th1n categories covered b}, Chapter J Part I l of the Corporation T&i Act ?0 l O or Section ?56 of ihe Taxation ot" Chargeable Gain5 Act 1992. 10 the extent Ihat such income or oains are applied e1clusi¢1. io charitable purposes. Tangible fixed asset5 Individual fixed assets costino £500.00 OT more are initiallN' recorded al cost. Depreciation and amortisalion Depreciation is provided on ianuible filed a55et5 so as lo ivrite off the cost or valuation. less any estimated residual value, oi'er their eipecled useful economic life as follow's: Asset cla55 Furniture and equipment Deprecialion method and rate 5traighi Ime 25;. Paoe ?2 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academi, Foundation Notcs to the Finaneial Statements for the Year Ended 31 Juli 2024 Trade debtors Trade debtors are aTnounts due from host companies for contrtbutions receivable in the ordinar¥. course of the charily s activities. Trade debiors are recognised initiall!. al thc iransaction price. A provision for the impairment of trdde debtors is eslablished w'heT] ihere is objectil'e evidence ihal the charits. will not be able to collect all amounts due according to the oriuinal ternis of the receifvables. Cash and cash equii'alenls Cash and cash cquivalcnts comprise cash on hand and call deposits. and other 5hort-tem) highlN' liquid investments that are readil). convertible lo a known amount of cash and are 5ubjeci to an InsinIfICant risk of channe in value. Trade Creditors Trade creditors are obligations to pa}, for goods or sen'ices that ha&e been acquired in the ordinar! course of business from suppliers. Accounis pal'able classified d5 Lurreni li¢ibiliiies if ihtr Ll]ilI), Iiui Iiave ai) unconditional right. at the end of the reportino period. to defer settlemenl of the creditor for at least ni'elve Tnonihs after the reportino date. If there is an unconditional riohi to defer settlement for at least tsl'elve monihs fter the reportino date. the}, are presenied as non-curreni liabilities. Trade creditors are recognised iniliall), at the Iransaction price and subsequentlN' measured at amortised cost iising the effective interest method. Fund strueture Llnrestricled income funds are general funds thal are ai'ailable for use at the trustees discretion in furtherance of the objeclives ot the chariTh'. DesioJated fi]nds are unrestricted funds sei aside for specific purposes al the discretion of the trustees. Pensions gnd other post retirement oblig*tÉons The charity contributes to a defined contribulions pension plan operated bi NEST. The assets of the scheme are held separateli from those of the charity. The contribution pa!Inenls are charoed to the SOFA in the period that the5. are paj'ahle. Financial instruments Classifictslion Financial assets and financial liabilities are recoonised when the charitt, hecnme% 2 p2rty In ihe ennlTACt1121 provisions of the instrument. Financial liabiliiies are classified according to the substance of the contractual al-i aJi¥riii¢Jit> riilrird iiilv. Recognition and meo.Furement All financial assets and liabilities are initialli. measured al Irdnsaclion price (including transaction costs). Financial assets and liabililies are onlv offset in the statement of financial position 'hen. and only 'hen there exists 2 legall}, enforceable right to ser off the reCO.lIsed amounts and the chariTh" intends either to settle on a net basis. or lo realise the asset and settle the liabilit)" simulthneously. Financial assets are derecognised iihen and onl!, H'hen al the contracmal rights lo the cash flows from the financial asset eipire or are setlled. b) the charity. trdnsfers to another pam, sub5tantiall)- all of the risks and rewards of ownership of the financial assei. or cl Ihe charit).. despit¢ having retained some. but nol all. significant risks and rewards of OVinershRp. has transferred control of ihe asset to anoiher pan),. Financial liabilities are derecognised onlj. when the oblitsation Specified in the contract is discharoed. cancelled or expires. Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academ}. Foundation Notes to the FiD2ncial Statements for the Year Ended _I1 Jul), 2024 3 Income from donations and legacies 2024 2023 Note Donaiions and legacies. Donations from companies and trusts Donations from individuols Gift aid reclaimed Sponsorship 20 45.064 970 14.500 46.701 45.064 4 Income from charbtable activities Unrestricled General Total 2024 Apprenticeship waoes aT]d trainin2 income Apprenticeship serwice tees 64.7i7 76.gln 64.7i7 76.910 141.647 141.647 Unrestricted General Total 2023 Apprenticeship 'ageS and training income Apprenliceship service fees 84_241 55.701 84.241 l j9.94? 139,942 S Income from other trading activilies Unrestricted General TolAI 2024 Events income. Other events income 12.218 12.218 1?.218 Page 24 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academ). Foundation Notes to the Financial Statements for the Year Ended 31 Jul}. 2024 6 Investment income Tolal 2024 Total 2023 Inieresi receivable and similar income- Interest receivahle nn hank deposits 265 7 Expenditure on raising funds a) Costs ol generaling donations and legacies Unrestricted CenprAI Total 21124 Marketing and publicity Othcr dircct costs of gcncratino voluntarv income 15.956 5.000 15.956 5,000 20.956 70.956 8 Expenditure on charitable activities 2024 2023 Notc Apprenticeship costs lincludino wages and salaries) Be Thc One Booicamp ii'orkshops Management wages and salaries Allo¢ai¢d support costs Governance costs 91.490 i.212 110,1)8 10,-517 12.2?1 94.410 7.486 195.494 2?0.417 Paoe 25 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academi Foundation Notcs to tbe FinAneial Statements for the Year Ended 31 Juh. 2024 9 Analysis of governance and support costs Allocatcd support Costs 2024 2023 Insurance 763 Bookkeeping Cornputer and software and consumables Recrnitmenl and advertising cos Bank charocs Depreciaiion StalT entenaining Other inleresi pa)able 4.475 1.100 461 6.OiO 13Y 4?7 129 126 1?6 1?9 7.486 10.517 Govcrnanee costs 2024 2023 Independeni examiner fees Examination of the financial siatements Other fees paid to examiners Management support services Oiher governance cosis 2.800 8.200 2.800 2.000 80 180 3i9 5.060 10 Trustees remuneration and expenses During the s'ear the charitv made the follo,in0 Irdnsactions '1th iruslees- Prior to their appointment as a trustee. one person has been paid for their roll as a member of the management team. No trustees have received an}, reimbursed expenses or anN' other benefits from the chariti, during the )'ear. Page ?6 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academ!, Foundation Notes to thc FiDaneial Statements for tbe Year Ended 31 Jul? 2024 I I Staff costs The aggregaie payoll costs M'ere as follows: 2()24 2023 Staff costs during the year were: 'a(yes and salaries Social securits. COSIS Pensinn enst.s Other slaff costs 102.428 6.211 694 805 2.191 548 94.410 10.li8 The monthlv average number of persons lincluding senior manaoem¢nl , leadership teaml emplolied b), the charitN' durino the )'ear expressed as full lime equivalents ilas as follos= 2024 No 2023 Managemeni and servicino Of the above emplo)'ees I l?0?3 - 1) participaied in the Defined Contribution Pension Schemes. ContributioT]s to (he emplol'ee pension schemes for ihe )'ear totalled £S4812023 £694). No emplo)'ee receied emoluments of more than £60.000 during the l'ear. 12 Independenl examiner's remuneration 2024 2023 Examination of the financial statements 2_800 2.8nn Other fees lo exominers All other services 8.?00 13 Taxation The charifv is a re21Stered charitv and is therefore exempt from t&iation. Page ?7 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academy Foundation lo Ihe Financial Statements for thc Year Ended 31 July 2024 14 Tangible fixed assets Furnilure and equipment Total Cost At l Augusi 202) fjio 516 At i l Jul), ?024 516 516 Depreciation At l Augusi 20?- Chorge for the year 258 1!9 129 At ) l Jul), 20?4 387 i87 Net book value At 31 Julv 2024 129 At 31 Jul), 2023 258 ?58 15 Debtors 2024 2023 Trade debtors Prepa)qnents 23.641 1,500 5.918 ?j.641 7.418 16 Cash and cash equivalents 2024 1023 Cash on hand Cash ai bank 200 152.047 122.5)8 1?? 5)8 152 ?47 17 Creditors: amounts falling due withiD one )'ear 2024 2023 Trade creditors V AT tsr8nt repaNable Other creditors Accrua15 8.018 5.141 7,481 72 71,900 86.6)4 84.$94 Page 28 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee
The Marketing Academi. Foundation Notes to the Financial Statements for the Year Ended 31 Jull, 2024 18 Funds Balance at I August 2023 Dcoming resource5 Resources expended Balance at 31 Julv 2024 Unr¢strietcd funds General 200.797 (?16.4501 59.674 Balance ai I Augusl ?022 Incomin¥ resources R¥suufLes expended Balance ai 31 Jul). 20?3 Unrestricted fund5 General 110.47 18£ ?71 (220.417) 75.)?9 19 Analisis of net assets between funds 2024 2023 Unrestricted funds - general Tangible fixed assels Current assets Current liabilities 1?9 146.179 186,6i41 258 159.665 184.594) Total net assets 59.674 75.3?9 20 Related part!, transactions During thc ycar ihe charity. M'as in receipt of th¢ following related p). tran5action5: Marketing Hall of Legends (trading as The Markeling Academi,) {'11h a companN' director also bein2 a trustee ol- the charit¥'. I During the J'ear the above compani donaied £1 5001 ?0?)- £20.000) to ihe charitv. At the balance sheet date the aTnount due to:'from Markeiinu Hall of Leiiends lirddino as The Mark'eting AcademN'I was £Nil l?0?" £Nill. Page ?9 Doc ID.. 0139573097767c6d37e01aff12be65bOa5efb8ee