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← Code Your Future

2023-12-31-accounts

Charity no. 1174929 OSCR no. SCO50753

Code Your Future

Report and Audited Financial Statements 31 December 2023

Code Your Future

Reference and administrative details

For the year ended 31 December 2023 Charity number 1174929 OSCR number SCO50753 Registered office and c/o Cititec operational address 69 Wilson Street London EC2A 2BB Trustees The trustees who served during the year and up to the date of this report were as follows: Christina O'Beirne resigned 24 June 2024 Stephen Grant Christian Miccio Ieva Kajokaite Bankers HSBC Bank PLC 28 Borough High St Southwark SE1 1YB Auditors Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

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Report of the trustees

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Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

1) Message from the trustees

Code Your Future (CYF) launched its first cohort in London seven years ago, and since then, the organisation hasn’t stopped evolving, innovating and expanding. The creation of a safe and thriving environment for people coming from challenging socio-economic backgrounds was the guiding light to many improvements. CYF’s teams pressed on Safeguarding and Code of Conduct, including raising community awareness on those subjects and streamlining processes and policies.

In addition, the ongoing and accelerating transformation in the technology industry reached CYF and presented opportunities to improve community foundations and deepen trust among its members. We also believe the movement deepened the opportunity for the community to connect, reconnect and innovate together.

Our mission of improving people’s lives through vocational training and employment keeps evolving and adapting according to the industry's new standards. Focused on diversity and inclusion goals, we’ll continue working towards a sustainable, impactful and positive community movement.

We also experienced important learnings in 2023 that helped the organisation redesign processes and rethink its structure for the upcoming years. We had to prioritise initiatives that demonstrate the most substantial and sustainable benefits for our beneficiaries. We've learned the importance of flexibility in our strategies, allowing us to adapt to a changing market and different job opportunities for our trainees. Moving forward, we are committed to leveraging these lessons to ensure every resource is allocated to its best effect, focusing on a programme that aligns closely with our core mission and shows the greatest potential for long-term positive change in our community.

2) Executive summary

As Code Your Future reached its seventh year in 2023, our community celebrated significant achievements. Four cohorts started, and six cohorts completed the Software Development course across all regions.

On the training side, the immersive engineering programme, CYF+, focused on advanced CYF developers, completed its first pilot phase with Slack. All graduates who participated in the programme were offered permanent roles before their placement finished.

Throughout the year, the CYF Syllabus Team rewrote the entire curriculum and developed a new curriculum platform and FOSS (Free and Open Source Software) project. This team also led the implementation of the flipped classroom model; an approach that empowers trainees to take centre stage in their learning journey, moving away from passive participation.

Furthermore, we expanded the Digital Literacy Programme (DLP). We welcomed a DLP Programme Manager who led the community delivering nine cohorts, including some in partnership with external organisations. In addition, we expanded the programme to Cape Town, as CYF South Africa launched its first DLP group.

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For community-building, 2023 was a milestone in the organisation's history. Cohorts met in person for their weekly workshops for the whole year. We were grateful to count on the support of venue partners who trust our community to organise activities in their offices. We also organised our first Job Fair in London, bringing partners and companies together to host workshops while they watched our new developers present their final projects.

In 2023, we launched the Community Safety Team to clarify our procedures in this area. Drawing on experiences from previous years, we updated our Code of Conduct and the Volunteer Agreement, ensuring more accessible language and clearer processes. We also invested in additional Safeguarding training for staff members to ensure the team has the relevant knowledge to deal with Safeguarding concerns.

As a way of ensuring alignment with CYF’s values and principles, we added an extra layer to volunteers onboarding into the community. This way, new joiners could understand our model and also reflect on Code of Conduct and ways of working.

In this respect, we developed a new complaints process, using lessons from previous experiences. This new complaints process will aid the Community Safety Team in handling complaints, ensuring the correct time and resources are dedicated to closing cases in a timely manner.

Finally, we happily welcomed a new Digital Literacy Programme Manager and a new Finance Manager into the team.

3) Objectives and activities

CYF’s main objective is to create a safe space that train and empowers refugees, asylum seekers, displaced migrants, and low-income individuals to enter the tech industry.

Our approach involves leveraging grassroots communities to provide free and comprehensive technical and soft skills training. Our courses are designed to equip participants with both the technical proficiency and employability skills necessary for a successful career transition.

To assess our success, we consider:

The funding coming from sponsorships, grants and donations helped our community to successfully support hundreds of individuals in transitioning from unemployment or low-paying jobs to promising careers over the past seven years. This ensures that we remain focused on our mission while continually improving our impact and reach.

4) Our model

Our trainees

Our trainees come from diverse backgrounds facing challenges in accessing relevant training, and employment. Their experience with the programme is overwhelmingly positive, inspiring many graduates to become volunteers, and fostering a supportive cycle within our community.

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We actively collaborate with local NGOs, community groups, and the Department for Work and Pensions (DWP) to reach individuals who can benefit from our programme, and have the potential to become a trainee. Also, many of our trainees find us through word-of-mouth referrals based on positive recommendations from our alumni and volunteers.

CYF's programme is tailored for individuals without any coding background, enabling us to concentrate on their untapped potential. As part of our selection process, applicants demonstrate their capabilities and enthusiasm by undertaking our self-guided intro to the digital course. This course serves as a starting point, introducing candidates to programming fundamentals and helping them develop a stable base from which they can develop new skills.

Our courses

Employment journey

One of our key indicators of success is the rate of our graduates’ progression into employment in tech. We are committed to working with them for as long as they want our support in securing jobs.

We support our trainees with CV writing, interview skills, and targeted role preparation. Also, we match them to job opportunities within our recruitment partner network and the wider community. The success of our Employment Programme is the reflection of over 240 graduates securing jobs at companies like Capgemini, Deloitte, Financial Times, J.P. Morgan, the BBC and more. In 2023, we have placed CYF developers in companies like Centrica and Lloyds.

However, under a distinctly job-constrained market and substantial shifts in the tech industry, we have redesigned our employment support approach. Firstly, we have developed a Portfolio Module which encourages graduates to work together in teams and build projects. This has helped graduates gain more skills and experience while keeping the community together to support each other. Alongside our job application support, it has led to our graduates having stronger profiles and more experience whilst applying for jobs.

Secondly, we’ve paused the launch of new cohorts until the current one hits 50% of employment; which has allowed our community to spend more resources supporting job hunters.

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Partnerships

Our mission of helping people to start a career in tech is only achievable if we have allies that will enable us to reach the end goal. Partnering organisations are the essential pillar to the success and sustainability of our programmes.

In 2023, we thanked Capgemini and Slack for their renewed sponsorship commitment to the organisation. Until the end of the year, Capgemini was the main sponsor of our Software Development programmes in London, North West and West Midlands. Slack was the funder of our advanced engineering programme, CYF+. Both companies also employed CYF graduates at the end of their courses and had volunteering teams.

Apart from sponsors, we have worked closely with active donors, such as Bregal Milestones and Twillio, who were also eager to engage their teams to support our trainees’ career development journey. Employees from both companies joined a corporate volunteering programme when they shared their experience in sessions with our trainees and grads, which directly helped to enhance CYF’s developers' projects and skills.

Social mobility through employment is our ultimate goal, so we are thankful to more than twenty companies who hired CYF developers in 2023.

5) Our courses in 2023

Digital Literacy Programme

DLP had an impactful year in 2023, by expanding access to critical digital skills training for underserved communities. Some of the key goals were to increase the programme's reach and accessibility through partnerships, language offerings, and international expansion.

We delivered nine cohorts of the 3-week digital skills curriculum, which included two sponsored programmes and four in collaboration with community organisations providing venues and outreach support. Additionally, to promote inclusivity we piloted cohorts in Afghan Dari and Spanish, and the first international DLP cohort launched in South Africa, setting the stage for further international courses in 2024.

Furthermore, we enhanced the programme's quality, relevance and sustainability. We started the process of aligning the curriculum with the European Digital Competence Framework (DigComp) to ensure trainees develop transferable skills mapped to defined competency areas. We redefined the Entry and Exit assessments, learner surveys and data management processes to better measure progress and gather insights for continuous improvement.

In London, partnerships played a vital role, with 14 referral organisations raising awareness and 13 active volunteers facilitating cohorts. Going forward, the team are working on a strategy to successfully bring the programme to other regions. Considering the foundation established in 2023, the DLP is poised to scale its initiatives and impact in the year ahead.

CYF Software Development Programme Tech Education

It was an eventful year for Tech Education. We published our new Software Development curriculum, and volunteers already started its next iteration. Also, our Head of Teaching and Learning led the flipped classroom implementation.

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The development of our tech syllabus was a collaborative effort involving dedicated volunteer trainers and mentors who are experienced professionals in the field. Based on their first-hand knowledge of the industry demands, combined with the guidance of our Tech team, we have crafted a high-quality web development syllabus comparable to leading coding bootcamps. Additionally, our diverse group of experienced industry volunteers contributes optional modules that expand the software engineering prospects for our alumni.

The effectiveness of our programme is reflected in the career paths pursued by our graduates. Common first job roles for CYF graduates include Full Stack Developer, Front End Developer, Cloud/DevOps Engineer, Quality Engineer, Product Manager, and UX/UI Designer.

These diverse opportunities showcase the potential of our trainees upon completion of the programme.

On CYF+ side, we saw our fellows graduating and starting their work placement on Slack, with continuing support and coaching from the CYF+ team. The developers presented the programme in London and San Francisco with a fireside chat with the CTO of Slack and wonderful support from the Slack team, and also later on in the year at SRECon in Dublin, the premier conference in reliability engineering. Towards the end of the year, CYF+ fellows were offered permanent roles, and CYF+ was certified as a Digital Public Good.

Professional Development and Employability

Our holistic training includes a comprehensive Professional Development curriculum and Employment Support activities. Both are designed by industry professionals and integrated into our technical programme.

The first targets the enhancement of soft skills such as communication, teamwork, problem-solving and time management. The content is focused on trainees understanding the theory before the class and then experiencing it with exercises such as role plays and discussions, to be able to internalise the learning.

The Employment Support activities embed the practice of CV writing and tailoring, and mock interviews.

Community Building

CYF is formed by volunteers and trainees, who take part in our programmes, but also often contribute by choosing to volunteer after graduation. They take our values to many organisations, and, as a result, CYF becomes a bridge between underrepresented groups and the tech sector, giving opportunities for both to learn from each other.

The goal of our community-building efforts is to provide safe spaces for everyone to connect, learn, and grow. Our grassroots approach fosters an inclusive and welcoming environment for our community members.

In 2023, we expanded this spirit of community by welcoming external speakers and hosting meetups with broader participation. Additionally, we conducted several events where we celebrated our diversity such as Refugee Week events, migration summits, International Women’s Day, Mental Health Week and cultural celebrations such as Persian New Year and Hibaq Day.

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From the partnerships side, we connected with organisations to conduct events to share our mission with an external audience, which included some activities part of the London Tech Week. We also hosted our first Job fair in London, where we had 6 companies sharing our mission.

CYF Products

In 2023, the CYF Tech Products had five teams formed by more than 30 trainees/graduates and a group of volunteers who collaborated to develop features for digital products utilised within the organisation, including our CRM and the trainee and volunteer application processes.

Groups of trainees and graduates volunteered as Junior Software Developers (75%), Junior Devops Engineers (9%), Manual Testers (9%) or Scrum Master/Product Owner (6%) within the team contributing to the roadmap defined by Product Owners. They also develop important professional skills, such as communication, working in a team and agile practices.

CYF+

In 2023 we graduated our first, tiny, class of CYF+. This immersive engineering programme, developed by a wonderful team of around 20 volunteers from top tech companies, involves guided independent study and a work placement. The CYF+ curriculum is a series of primers, problems, and projects (mainly in Go) developing core software engineering skills, with a strong emphasis on distributed systems, testing, troubleshooting and code review. The course is designed as "untaught", with substantial code review, personal development coaching, and office hours instead of classes, closer to professional practice.

The core offering of CYF+ is to de-risk hiring high-potential junior engineers from diverse and disadvantaged backgrounds into high-impact jobs. Our first partner, Slack, worked closely with us throughout the pilot development. Our first CYF+ Fellows began their work placement in Demand Engineering at Slack in February 2023 and were offered permanent roles before their placement finished.

Barriers to entry

Numerous barriers stand in the way of individuals facing social and economic challenges in accessing training, and lowering those obstacles is part of our mission. Hence, we want to ensure that all trainees have the resources they need to succeed in their career journey.

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6) Our volunteers

As a volunteer-led organisation, we could not be more thankful to over 500 individuals who, across 2023, kindly shared their time and skills with our community, engaging with all of our five teams across our four regions in the UK and in South Africa.

They supported aspiring developers with technical and professional mentorship, emotional resilience and endless encouragement.

Volunteers are at the forefront of our community, and our trainees rely on their continuous guidance each year to run courses, mentor, give feedback, facilitate projects, review CVs, do mock interviews, give code reviews, manage projects, and organise events.

Furthermore, volunteers connected us to new partners, ensuring our organisation is sustainable and helping our regions to accomplish their mission.

Thoughts from our volunteers

Why did you decide to volunteer at CYF?

“ I was a CYF student so, I wanted to give back to the community what the community gave me and more, and help others. ”

“ I wanted to contribute my time and skills towards a worthwhile cause and in particular looking to support the Glasgow refugee community. CYF was an ideal fit for me. ”

“ I changed careers into tech and it has changed my life, so I want to help others do the same. ”

What would you like to achieve by volunteering?

“ Supporting members of the local community to thrive, sharing my skills towards a purpose that feels meaningful to me. Learning more about the tech industry. ”

“ I wanted to be a part of something that drives real change. A real solution to help end the cycle of poverty on a grass roots level. ”

“ Seeing more females in the tech industry is very satisfying for me! Reducing the gender gap in tech is a long road ahead but we're getting there slowly but surely! ”

Volunteer story from Cape Town

Zachée

When Zachée joined CYF, he wanted to make an impact in the real world. He also had an interest in learning about it.

“ I was hoping to meet new people and make friends, sharpen my social skills, interact with people from diverse backgrounds ,” he says.

Being a part of the Tech Education team means being responsible for a lot of budding careers. “ I’m a Tech Edu lead ,” Zachée says. “ I lead classes on Saturdays and help trainees learn to code, which helps them to land a job in tech. ”

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When he first joined CYF, he had some initial doubts if he had the right technical skills. He didn’t have to worry. Any professional developer can volunteer at CYF in the Tech Education team (and if you don’t know how to code, there are also mentoring and professional development roles).

Zachée’s desire to give back to the community and make a difference in the lives of others pushed him forward. And the support from the organisation helped too.

“ There are always people in the community who are ready to help you whenever you need or have a question. ”

This provided great memories, as well as learning opportunities for Zachée.

Not only has the friendly environment of CYF boosted his confidence, but it has led to a standout moment in Zachée’s journey:

“ There are lots of good memories, it’s hard to pick one, but when I visited Scotland, I sat with a group of 5 trainees from 5 different countries. I was very inspired to hear their stories, how they came to the UK, their lives in their countries, and how what we do as CYF has transformed their lives. I felt like coding also unites people from different backgrounds. ”

In terms of what he’s learnt from his experience, this is what he has to say:

“ I have developed valuable skills: Volunteering with CYF is a great way to develop my own skills and expertise in web development and teaching. By working with students from diverse backgrounds and with varying levels of experience, I got the opportunity to hone my communication, problem-solving, and leadership skills, as well as learn from other volunteers and mentors, and stay up to date with the latest trends and technologies in the tech industry. ”

Zachée believes that the best way to understand concepts is through explaining them to someone else, borrowing from the Roman philosopher, Seneca, who stated, “ While we teach, we learn. ”

The Tech Education team are blessed to have Zachée as part of their team, where he quickly established himself as a core team member.

His story is an encouragement to all who are willing to contribute their time and skills to making a positive, long-term difference in the lives of others.

Thoughts from our volunteers

What do you like about your experience volunteering at CYF?

" The community that we create, not just between the volunteers but with the trainees as well, is one of support, commitment and no judgement. It's comfortable and fun to be a part of the CYF community, not to mention the opportunity for international exposure within CYF as well. "

" We all want to belong to something significant. I belong to an amazing community that supports me in all areas of life. "

" I like that I'm giving back to the community and help more people to break into the tech field. "

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Volunteer story from London Shadi

For Shadi, graduating Code Your Future (CYF) was life-changing. Now, as an alumni volunteering with CYF, she's dedicated to making a positive impact on current trainees' lives and helping them achieve their dream jobs.

" I'm very passionate about making a positive impact on trainees' lives and helping others achieve their dream job ," Shadi says. " Because I know how some of the trainees are struggling in their lives and I really enjoy if I can support them through their journey. "

Shadi hopes her involvement furthers an important personal goal: " Seeing more females in the tech industry is very satisfying for me! Reducing the gender gap in tech is a long road ahead but we're getting there slowly but surely! "

Shadi supports CYF and its students in her volunteer role in a myriad of ways. " I answer trainees' technical questions, make sure classes are running smoothly, find volunteers at the company I work for and connect them to CYF ," she explains. " I get involved in organising classes, attend Saturday sessions as a teaching assistant, and do pull request reviews. "

For Shadi, the experience has been deeply rewarding on a personal level too. " CYF has been helping me a lot to increase my self-confidence! I also don't feel lonely in the tech world anymore. Meeting lots of kind and amazing people at CYF is a privilege. "

Some of her most cherished memories are the little wins. " When I help trainees to debug their code or sort out issues with their coursework, I get lots of kind messages ," she recalls. " It's very rewarding to see their happiness! "

Shadi's advice for anyone considering volunteering with CYF is simple: Do it! " Being a part of the CYF community is fantastic! There is lots of kindness and support. It's amazing, isn't it? "

Thanks to dedicated alumni like Shadi, Code Your Future can continue empowering people from underrepresented backgrounds to join the digital economy.

Thoughts from our volunteers

How volunteering at CYF helped your growth?

" CYF is a fountain of diversity in all aspects and helping people and getting to know them better has been amazing for my personal growth and capacity to put myself in the shoes of others. "

" My confidence in public speaking, presenting, admin, etc. was very basic to non-existent. The volunteer program equipped me to reach new levels in the areas mentioned above…. As a direct result, I'm comfortable taking on any challenge in these areas. "

" My confidence has definitely improved while I've been supporting the trainees in developing their own confidence. Watching them grow has given me the insight into how much of a positive influence I can have on others and has given me more faith in my own abilities. "

Volunteer story from the Tech Products Team

Jon

Jon has been an outstanding volunteer for Code Your Future for several years, helping many grads hone their product delivery skills on their way to starting careers in tech.

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Jon has also helped Code Your Future’s Tech Product team create several products that serve social good.

Jon first encountered CYF while working as a consultant, “ We had an ‘office hours’ session with the Impossible Team, CYF and HumanKind. ” he says, “ It was really interesting to hear about the (CYF) programme. I got in touch shortly after and have been volunteering ever since. ”

Jon’s decision to join CYF was driven by a desire to give back. “ I wanted to share the skills I’d developed in software development and product engineering to help other people, ” he explains.

He also saw an opportunity to improve diversity in the industry, emphasising “ teams made up of people from a broad range of backgrounds are more fun to work on and create better products. ”

At CYF, Jon works as part of the Tech Products team.

“ We maintain and develop a number of products that are used internally at CYF. Our aim is to both provide the organisation with the tools it needs to deliver the service and give the team members real working experience that will help them in their job hunt, ” Jon says.

The Tech Products team at CYF primarily works with graduates of a web development course who are actively seeking employment. The team’s responsibilities include maintaining and developing numerous products used internally within the organisation. Their dual goal is to equip the organisation with essential tools for service delivery while giving team members practical work experience to aid in their job search.

Tech leads like Jon play a crucial role in the team, guiding the design and development of the tools being created.

In a typical week, the team holds a meeting alternating between backlog refinement sessions and a combination of demonstrations and retrospectives.

Beyond these meetings, the tech lead’s role primarily involves responding to queries on Slack, reviewing the work of developers on GitHub, and imparting advice on various aspects of the team’s operations based on their professional experience.

Jon enjoys the support of the CYF community in his tasks, saying, “ We have a growing and very supportive community. I work mostly with our Director of Product, Karen Klein, and the other volunteers in the Tech Products team. ”

One of Jon’s standout moments as a CYF volunteer is seeing the direct impact of his work. “ It’s always nice when folks I’ve worked with get to make their ‘I got a job’ posts! That’s the overarching goal of the service and really makes me feel like I’m having a tangible impact in people’s lives and the developer community at large. ”

Beyond helping others, Jon’s volunteer work has also led to personal growth and career advancements. “ It might seem like a minor thing, but I’ve definitely got better at using git! ” he says, adding, “ Volunteering with CYF gave me practical mentoring experience that helped me land an engineering management role. ”

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When it comes to volunteering at CYF, Jon’s advice is clear and encouraging: “ Give it a go! We have loads of different roles with different levels of time commitment, and whatever your expertise and experience, you’ll get to work with and learn from a whole bunch of other lovely people. ”

Jon particularly values the moments when the community comes together – “ conferences for the whole community and our recent summit for volunteers and leadership. ”

Jon’s experience serves as a beacon for potential volunteers, proving how contributing your time and skills can make a difference and lead to personal growth.

As Jon put it, “ The purpose of life is to contribute in some way to making things better. ”

Jon is certainly making things better at Code Your Future.

Thoughts from our volunteers

What words of encouragement can you offer someone who is thinking of volunteering with CYF?

" It’s amazing to be able to help people who can completely change their lives by starting a career in tech. Especially those who need it most. "

" Just do it! There is a place for everyone at CYF but you have to have a passion for volunteering. You won't regret it. Seeing each trainee through to the end is the greatest reward of being part of this amazing organisation. "

7) Our trainees Trainee story from London

Deago

Personal challenges marked Deago’s time before CYF. He recalls, “ I was on state welfare… losing the will to continue – everything began to feel pointless. ”

Deago’s circumstances reflect a reality many Code Your Future applicants face, where financial and other barriers prevent them from getting the skills they need to start careers in tech.

An agency introduced Deago to Code Your Future. He applied with a clear goal: “ Learn to code – explore the possibility of entering software development. ”

With minimal coding experience, Deago was stepping into largely uncharted territory. Deago’s path to developing professional tech skills was not easy.

“ I put trust in the process – I drew upon my resilience, and I worked hard ,” he says.

“ I became ill during the winter, and fell behind in my work – this made it more challenging to keep up with the pace of the course because I felt like I was always behind ”, he recalls.

Thanks to his resilience and Code Your Future's support system, Deago stayed on track.

“ I rarely fell behind my milestones overall. ” he says, adding, “ I had a lot of support throughout ”.

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CYF’s rigorous course demands more than just technical skills. “ It’s up to [the trainees] to meet that demand, ” Deago states.

He learned to value his self-worth and capabilities, transforming his mindset from doubt to determination. “ Days feel more purposeful ,” he reflects.

Deago’s weeks were a blend of coding, personal endeavours, classes, and socialising. The support of CYF’s inclusive community often carries people through challenging periods.

“ I didn’t realise that there were so many people I could actually resonate with – I didn’t realise that there was actually a space that I could be a part of.. ” Deago says.

CYF’s Software Development course continued to challenge Deago, but he never gave up.

“ There was a point where I felt like I was going to give up, but after coming so far it felt like a waste, and so I persevered, and made it to the final project. ”

CYF’s buddy system and personal coaching were pivotal in Deago’s journey. The support he received helped him stay on track in developing his technical and professional skills.

“ The result was that I made it to the end – basically ,” he says simply.

Towards the end of the programme, Deago made an important discovery about himself, “ I learned that I am employable, and that most of my doubts and concerns were the result of being in the wrong environment ”.

Deago also grew more than his technical skills at CYF, “ I feel like my personality, and overall demeanour has changed significantly over the course of the time I have spent with CYF – I didn’t realise just how bored, and unstimulated I had been prior. ”

These realisations, coupled with a new perspective on his mental health, were transformative.

“ CYF can offer all the support in the world, but if you don’t believe in yourself-worth, aptitude, and capability, then you will not make it to the end – it’s that simple. ”

The commencement of the final project was a defining moment for Deago. “ I realised… that I am capable of working in the tech-world, ” he shares. This realisation was a profound milestone in his journey.

CYF continued to support Deago even after he completed the course – mentors, an employability coach and extra sessions helped him prepare for his interviews.

After considerable effort and dedication, Deago’s realisations were proved correct when he found a great job with Capgemini, a global IT consultancy.

For those considering joining CYF, Deago has a message: “ Believe in yourself, and trust the process. ” His journey exemplifies how dedication, support, and self-belief can overcome challenges and lead to success.

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Thoughts from our trainees

What was happening in your life before CYF that made you decide to come to CYF?

" I was seeking a learning opportunity in software development. After careful thoughts about my next career move, my goal was to become a full stack developer and I didn't have funds to further my studies to learn the value skills CYF provides ."

" I was without a job for long time and after some research I realised tech can be my area. "

" I moved to Manchester and practically couldn't speak English, many times I didn't understand what people were saying on the street, I couldn't make friendships and everything was very difficult. I was very upset because I was a Civil Engineer in Brazil and when I moved to Manchester I got some jobs like Warehouse Operative... it was a heavy and tiring job, I sent hundreds of CVs trying to get a job like engineer but I never got an answer. I decided to put Engineering aside and start a new career in the IT area. "

What did you hope to achieve by studying with Code Your Future?

" I really hoped to achieve to get my first role within the tech industry and my mindset here was never quit and always try my best. "

" My goal was and is to finish my course, find a related job with a better income and in a more professional environment ."

" I was to be able to find a good job in Tech. I want to prove that me as foreign can excel in a tech position if I get the right support and guidance ."

Trainee story from Cape Town Chandré

The path to a fulfilling career isn't always a straight line. For Chandré, it was a winding road - but one that led her to discover her true passion and unlock her potential with the help of Code Your Future (CYF).

Before joining CYF, Chandré had studied IT and development, but found herself stuck in a soulcrushing IT support role that left her feeling burnt out. " IT support felt like factory work and had a bad corporate culture ," she recalls. Despite her technical background, Chandré struggled to break into development work.

That all changed when Chandré discovered CYF. " I was pleasantly surprised ," she says. " The Intro and fundamentals sessions reignited my love for coding and development. "

Determined to make the most of this second chance, Chandré threw herself into the CYF programme. While the journey wasn't always easy - she faced challenges like the pressure of group projects - Chandré persevered, buoyed by the support and encouragement of her peers and mentors.

" The mentorship I received at CYF was invaluable ," Chandré shares. " They helped me understand my worth in the job market and gave me the confidence to strive for better opportunities ."

That confidence paid off when Chandré landed her first development job after graduation. " It was the first time I actually gave my best effort, " she says. " CYF helped me believe in myself and my abilities. "

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Now, Chandré is continuing to grow and learn in her new role, even pushing for industry certifications to keep her skills sharp. And she has a message for anyone else considering the CYF journey: " Get ready for the ride of your life! It may not be easy, but if you're open to advice, willing to learn, and determined to keep going, you can achieve things you never thought possible. The support and community at CYF will lift you up when the challenges feel overwhelming. "

Thoughts from our trainees

Was there a particular moment that made you realise you had reached your goal? What did it feel like?

" When I was able to build an application with JS. And another time when I build a full-stack application. "

"It wasn't until one week after I finished my course, I was working in my own project and I realised that I was coding and working as a full stack developer and I was amazed by my progress. "

" When I graduated! And it felt amazing. And then when I got hired, that was even better. "

How did people at CYF help you or guide you through while you took the course?

" To better my understanding I got great help from them. They not only helped my technical issues, but they also helped my emotional problems such as mentally, psychologically. "

" Yes there was lots of guidance and help on hand from CYF staff and volunteers. They helped me with coursework issues right through to lending me a laptop to use when mine broke. "

" I had a lot of help from the people at CYF, they always helped me with my difficulties, they were always available for questions and teaching content outside of class hours, they always told me that I could count on them if I needed anything ."

Trainee story from the West Midlands Saadia

Three years ago, Saadia moved to the UK with a heart full of dreams. “ I had a stable job back home, so I was confident that I wouldn’t have any problems finding one here ,” she recalls. But the reality was quite different. Her qualifications didn’t translate to job opportunities, and she was at a crossroads.

Saadia took a leap of faith towards her passion. “ I decided to switch to an area I am passionate about. ”

Despite completing the Full Stack Web Development Bootcamp at the University of Birmingham, securing a job right after graduation proved challenging, especially as a new mother.

That’s when a friend introduced her to Code Your Future (CYF) – a supportive community that became her beacon during this difficult time.

“ A chance meeting with a successful CYF graduate convinced me to enrol as a trainee. I wanted to prove that as a foreigner, I too can excel in a tech position if I get the right support and guidance ,” Saadia shares.

While at CYF, she encountered the challenges of balancing coursework with motherhood.

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Report of the trustees

For the year ended 31 December 2023

Her determination and tenacity helped her stay on track. “ I learned how to prioritise important tasks and commit to continuous learning, ” she says.

CYF offered childcare and a laptop to ensure she could focus on her learning. Saadia is grateful for this: “ CYF’s continued support has been invaluable in helping me balance my professional and personal life .”

Saadia also credits her mentor, Dom, for helping her expand her knowledge and write cleaner code.

Saadia’s growth at CYF went beyond coding. She learned valuable interview skills, such as the STAR methodology, and built her confidence. “ Before CYF, I didn’t know how to highlight my personal skills. Now, I’m confident about them .”

“ I improved my code-writing skills and became confident in voicing my ideas .”

Mock interviews during the course proved to be a turning point for Saadia. “ Each feedback was better than the last one. That’s when I realised I was getting closer to my goal. It was an incredible feeling, ” she recalls.

Saadia’s reached her goal of starting a tech career in the UK by joining Code Your Future! She is now developing real life products for the organisation that are used on a daily basis, and working with a strong team of her peers.

Her advice to anyone considering joining CYF is: “ Maintain a growth mindset throughout your journey. Once you reach the end, you won’t realise how much you’ve grown and improved. ”

Thoughts from our trainees

What words of encouragement can you offer someone who is thinking of joining CYF?

" I would tell the person to be dedicated, patient and love what they are going to be learning at CYF. "

" Go for it but give it your all, there's a lot to learn and a great community of volunteers always rooting for you and don't give up when it gets hard, take a break when you need and ask for help. "

" If you're thinking about starting this course and you have this opportunity, grab this opportunity because I'm sure this course will exceed your expectations, the maturity you'll have in one year will certainly be much greater than what you've had in your entire life. "

8) Impact

Programme overview

In 2023, we launched four new cohorts, welcoming over 100 trainees. In total, six cohorts, completed the Software Development course across all regions. These six cohorts gave us 163 course completers. Some of these cohorts started in 2022, others started and completed within 2023. As it stands, over 280 Code Your Future graduates are now in tech jobs.

We expanded and updated both our Technical and Professional Development content as well as our team.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

Challenges

Despite the challenging outlook of the job market, we continue to work with our trainees and graduates. Internally, we redirected resources to use it as an opportunity to redevelop our curriculum, build our teaching practice and expand in other areas. Two areas in particular saw great success - the Digital Literacy Programme and CYF+.

For our SDC trainees, we launched the Portfolio module to encourage and engage graduates, elevate skills, and prepare for renewed hiring. We found that when we have strong partnerships, we are in a great position to adapt to changing markets. We are really proud of the work we have done, in very difficult circumstances.

Regional performance

London (UK)

In January of 2023, we launched our 10th cohort of the Software Development Course, which began with 39 trainees, while continuing our 9th cohort concurrently. We also celebrated the graduation of 42 trainees from London 9 and 20 trainees from London 10, with 62 graduates completing the Software Development Course in total.

London volunteers built, updated and trialled new optional modules, enabling trainees to up-skill and follow diverse employment paths. These modules included Product Management, Front-End Development, Python and Cloud. Volunteers delivered portfolio modules to further support our graduates' job search. This module provides graduates with opportunities to work on projects that enhance their CVs and build valuable professional experience.

Thanks to the generous support of our office partners, including Cititec, Fourth, Slalom, Sainsburys, My Tutor, Microsoft, Zoopla, The Guardian, Papier, Queen Marys University of London, we were able to offer face-to-face Saturday classes and coworking space provided by Cititec on Fridays.

These helped our community to bond and thrive as trainees, mentors, and volunteers came together to work, study, and collaborate.

North West (UK)

In 2023, 34 NW5 cohort trainees completed the Software Development course, and 7 teams showcased their work. To further support their job search, we have added a Portfolio Module for those still seeking employment. This module provides them with opportunities to work on projects that enhance their CVs and build valuable professional experience.

Thanks to the continuous support of our venue partners, DF Capital and SeeSaw, we hosted inperson workshops during the weekends.

We launched our NW6 cohort in 2023 with 18 trainees. In this cohort, we also implemented a pilot volunteering programme called Cohort Founders, which was drawn on our community values. For that we recruited five volunteers to oversee trainee performance, organise classes, and deliver content, fostering a more collaborative learning environment.

Scotland (UK)

In 2023, the GLA6 cohort started with 28 trainees, with 17 trainees completing the programme. They demonstrated their technical and professional skills through four remarkable projects, of which three were undertaken for external NGOs. They were showcased by trainees at a demo day and networking event in collaboration with Barclay's Eagle Labs.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

Alongside Barclays Eagle Labs, GLA6 classes and events were hosted by organisations such as The Clutha Trust, Garnethill Multicultural Centre, and The Mitchell Library.

Volunteers and trainees represented CYF Scotland at tech events such as Turing Fest, Can Do Innovation Summit, The Scottish AI Summit, and The Uncode Conference. Our community actively engaged in networking and hosted booths at events and meetups like the Glasgow Caledonian University Social Innovation Fair and the Glasgow Tech Meetup.

By the end of 2023, we bid farewell to Caro, our Head of Scotland & Global Partnerships, grateful for her hard work fostering community and partnerships. The CYF Scotland community began organising the Portfolio module, eagerly anticipating the opportunity to develop real-life projects to enrich our graduates' portfolios.

West Midlands (UK)

In 2023, the WM4 cohort completed the Software Development course with 36 trainees. Cohort size was reconsidered, and WM5 was launched with 18 participants. In addition, we started a new venue partnership with Aston University, where Saturday workshops took place.

In September, a WM graduate represented our community at the global stage at the United Nations Headquarters, and several trainees and volunteers attended most events during Birmingham Tech Week, which is one of the most notable technology conferences in the country.

In the face of tech market difficulties, WM has demonstrated its adaptability and resilience. This year, five-course completers entered employment. To enhance the alumni's attractiveness to employers, five alumni participated in the region's first portfolio module. The team built an impressive technical project, setting a high standard for future WM iterations of the module.

Cape Town (South Africa)

In 2023, 14 trainees completed the software development course, and three external projects were developed for NGOs as part of the Launch Projects Module.

In a challenging job market, two graduates from the ZA2 cohort secured roles as Junior Software Developers, while another two graduates from the ZA1 cohort secured Junior Software Developers roles. One graduate secured a job in the non-tech sector and credits CYF’s Personal Development component as the reason for their success in finding employment.

CYF ZA managed to host a few in-person classes at our office partner Cititec. In addition, CYF ZA held its first in-person graduation celebration, which was hosted at Cititec. A second graduation on a smaller scale was also hosted at EY Cape Town. CYF ZA continued to strengthen ties with its current partner (EY) as well as a new partner (Redstor, Deloitte).

DLP was also launched towards the end of 2023 in partnership with the NGO Beth Uriel-Men’s Home and was a great success.

We also welcomed Shaun Thomas as the Full-time Programme Manager for the region.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

2023 summary

Digital Literacy Programme (DLP) trainees in 2023: Digital Literacy Programme (DLP) trainees in 2023:
Number of cohorts: 9 across the UK and South Africa
Total number of trainees: 128
Breakdown of DLP trainees across 2023
Female trainees: 51%
Aged 40 or over: 36%
Refugee or asylum seekers: 65%
Trainees with annual household income below £12,000: 93%
Software Development Programme (SDP)
Total number of SDPs started: 4
Total number of trainees startingSDC: 104
Cohort breakdown London 10
Glasgow 6
North West 6
West Midlands 5
Breakdown of SDP trainees across 2023
Trainees identifyingas female,non-binaryor trans: 45%
Aged 40 or over: 19%
Refugee or asylum seekers: 42%
Trainees livingbelow thepovertyline: 77%
People from minorityethnic backgrounds: 80%
Countries of origin: 65 different countries
Employment
Number of course completers
6 cohorts completed in 2023, 4 of these started in 2022,
2 cohorts who started in 2023 will complete in 2024		 Number of people who completed
the SDP in 2023: 163
Number of people who completers in
2023 who now havejobs: 33
Eligible graduates in employment or further education: Total number of course completers
as of end of 2023: 529
Number
of
completers
in
either
employment
or
further
education
from eligible pool at the end of 2023:
285
Overall employment rate: 55%
Companies that hired our graduates: Capgemini
Centrica
Lloyds Banking Group
Slack
The Civil Service
Volunteers
Number of volunteers 544 across theyear.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

Trainee support Trainee support
Total expenses paid: In 2023 Code Your Future spent
£55,513 on trainee expenses.
For: Childcare £29,111
Travel £14,595
Internet £4,692
Meals during class £4,381
Other £276
CYF+ Expenses £2,458
Total £55,513
By region: West Midlands - £13,563
Glasgow - £4,796
London - £24,484
North West - £9,478
DLP £734
CYF+ £2,458
Total £55,513

9) Partners, sponsors and donors Grants

Donors

Recruitment partners

▪Sopra Steria; ▪Overleaf;

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

Sponsors

Capgemini

Capgemini has been our strategic partner since 2019, supporting CYF’s work across England. Our award-winning partnership is built on a recognition of shared values and Capgemini’s unwavering interest in being part of the Code Your Future community. In 2023, 299 Capgemini employees volunteered with Code Your Future delivering over 700 hours of volunteering. They supported the teaching and mentoring of trainees helping them prepare for careers in tech. Thanks to these amazing volunteers, trainees felt better prepared and more confident in their job applications and they reported a greater understanding of the types of job roles and career paths available. To date 93 graduates have gone on to work at Capgemini in an array of business units and roles, including Software Engineer, Cloud and DevOps, Power Platform, Cyber Security, Applications Consultant, Software Test Analyst, Associate Consultant and more.

Slack

Slack, now part of Salesforce, is a wonderful partner and friend. Together, we have developed a world-class systems engineering curriculum and presented our work at SRECon. CYF+, the programme delivered in partnership with Slack, had a 100% success rate in 2023.

Fundraising activities

Public individual donations are available through the CYF website and Benevity portal. The charity received no complaints in the year (2022: none) in relation to its fundraising practices.

10) Financial review Financial position

During the year, funds raised from grants, donations and partnerships amount to £1,157,755. Of which, £1,071,578 was spent on charitable activities.

Expenditure of £1,319,309 exceeded income of £1,157,755 from donations, recruitment, sponsorship and partnerships. A net contribution of -£161,554 was recorded for 2023 resulting in a reduction of carried forward reserve funds.

As shown in the restricted funds column in the Statement of Financial Activities, net restricted income after costs and transfers was -£179,817, which was used to cover particular courses, also the expansion of our courses in UK regions and the Digital Literacy Programme. At the year end the charity held £284,667 of restricted funding left which will be used in 2024, £179,376 of these funds will come to an end in October 2024.

Staff costs have increased in 2023 with an average staff count for the year rising from 13 in 2022 to 17 in 2023. There is a reduction in freelance fees relating to finance staff costs now being salaried; instead of as freelance costs. Additional staff consisted of a new DLP Programme Manager who was appointed in the year.

During the year, £228,049 of income and expenditure was recorded relating to a fair market value of gifts in kind donated to the charity. These gifts were made up of office and venue spaces donated for trainee, volunteer and staff co working and classes, IT equipment, software and travel compared to £337,302 in the previous year 2022.

Face-to-face classes have continued throughout 2023 with £55,513 expenditure spent on reimbursement of trainees costs.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

In 2022, Code Your Future set up a franchise agreement with a South African partner via Code Your Future Labs Ltd to allow the expansion of the programme overseas. Code Your Future Labs Ltd continued to support the South African Franchise partner with £16,638 of spend in 2023.

In 2021, to enable CodeYourFuture to further its objectives and raise income from sponsorships and profitable trading activities, the charity set up a 100% owned VAT registered subsidiary, CodeYourFuture Labs Ltd, to donate any profits back to Code Your Future. Within 2022, £300,000 was donated to the Charity using this format. An additional £359,992 of profits were donated to the charity for 2023. This model continues to work well for the organisation and we plan on continuing with it into 2024.

Potential risks

CYF remains dedicated to its mission of supporting those most in need in securing employment within the technology industry. As we pursue this goal, we recognise and actively manage several key organisational risks:

Operational capacity : rapid growth in demand for our services could strain our operational capacity. To manage this, we are investing in our organisational infrastructure, including staff training and development, and exploring scalable program delivery models;

Cybersecurity : given our focus on technology education, we recognise the importance of robust cybersecurity measures. We've implemented comprehensive data protection protocols to safeguard our organisation and our beneficiaries' information; and

By proactively identifying and addressing these risks, CYF aims to ensure the long-term sustainability and effectiveness of our mission. We are committed to regular risk assessments and strategy adjustments to navigate the dynamic landscape of both the tech industry and the charitable sector.

Investment policy

Currently, all funds are held in instant access to current accounts. There are no other investments at present.

Reserves policy

Code Your Future had total reserves of £804,981 as at 31 December 2023. The trustees have drawn up a full reserves policy which can be found in Annex A.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

Grant making policy

Outside of general expenditure support for students on our courses, we offer fellowships to talented students most in need of support, to enable them to fully focus on the course. Students are interviewed to determine their levels of need.

11) Structure, governance and management

Trustees

11) Structure, governance and management
Trustees
The nature of thegoverningdocument: Constitution
The charityis(or its trustees are)constituted as: CIO
Methods used to recruit and appoint new charity
trustees:		 Recruitment is done by the Board of Trustees
and Executive Team and election happens by
existing trustees.
By the end of 2023, no new members were
appointed.

The trustees have had regard to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

Staff

Organisational structure at 31 December 2023

Members of staff Full-time Full-time Part-time Part-time
16 11 5
Roles C-level Director Mid-level Juniors
2 3 7 4

Remuneration

Our staff remuneration ensures we offer competitive and fair compensation to our employees. We benchmark our salary levels against similar-sized charities and organisations within our sector, taking into account factors such as the size of our annual income and the scope of responsibilities for each role.

We established a structured salary band system that aligns with the levels of seniority and accountability within our organisation. Salaries are reviewed on an annual basis to reflect changes in industry standards, cost of living, and the evolving needs of the charity.

We also provide a range of benefits to our staff, including pension contributions and professional development opportunities. Our aim is to offer a comprehensive remuneration package that attracts and retains talented individuals who are passionate about our mission and values.

Decision making

Our Board of Trustees provides strategic direction and fiduciary oversight. They are responsible for ensuring the organisation's activities and operations are compliant with all relevant legal and regulatory requirements. The Board also holds ultimate accountability for the charity's financial management and long-term sustainability.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

While the Board sets the overall strategic vision and policies, the day-to-day delivery of the charity's mission is delegated to our executive team and staff. The executive leadership is tasked with implementing the Board's strategic plans, managing the organisation's operations, and overseeing the training and development of our employees.

The Board and executive team work collaboratively to drive the charity's progress. The Board supports the executive leadership by providing expert advice, prompting critical questioning, and challenging assumptions to ensure the organisation remains on track to achieve its charitable objectives. Regular reporting and open communication between the two groups foster a culture of transparency and shared accountability.

Through this governance structure, we leverage the strategic guidance of the Board while empowering our executive team to make timely decisions and effectively manage the charity's activities.

ANNEX A: Reserves policy

A brief description of the charity, its beneficiaries and its funding streams:

Code Your Future (CYF) is a UK based non-profit organisation that trains some of the most deprived members of society to become web developers and helps them to find work in the tech industry.

CYF trainees are trained in web development by volunteers from the tech industry, putting a strong emphasis on collaboration and product development through tech projects.

The beneficiaries of the charity are trainees from disadvantaged backgrounds, however the work also benefits our volunteers who gain valuable experience.

Funding streams are a mixture of local authority grants, private sector sponsorship, donations and income from recruitment fees.

The rationale behind the reserves policy:

Steps taken to establish the level of reserves:

The trustees have considered the current position of the charity and taken into account its relatively small size and the low complexity of its business model.

The level of reserves required:

Funds available in reserves at the end of December 2023 will cover gross pay for all salaried employees for 3 months (the average notice period for our staff). Keeping this amount in reserves, in addition to regular cashflow monitoring, will allow the charity to cover any shortfalls in funding or any later than expected payments.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

For 2024, the trustees decided to increase the reserves target to £300k, which would cover at least 3 months operating costs including staff, course and trainee costs as well as other overheads.

Within restricted funds there is £179k relating to Slack which will be spent by October 2024. All other restricted funds will be allocated in 2024. Unrestricted funds are £520k after deducting £337k of funds set aside to cover liabilities paid in 2024. At 31 December 2023 free reserves (defined as unrestricted net current assets) are £519k (2022: £500k).

What steps the charity will take to establish or maintain reserves at the agreed level:

The charity will closely monitor cashflow on a monthly basis to ensure that the reserves do not need to be spent. In addition, the charity will create a separate entry for the reserves in their books so that they are set aside and cannot be spent.

How and when the reserves policy will be reviewed:

The reserves policy will be kept constantly under review, and formally reviewed on an annual basis in the Q1 trustee meeting of each year.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

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

Members of the charity are not required to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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Code Your Future

Report of the trustees

For the year ended 31 December 2023

Auditors

Godfrey Wilson Limited were appointed as auditors to the group and parent charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 24 September 2024 and signed on their behalf by

Stephen Grant - Trustee

26

Independent auditors' report

To the trustees of

Code Your Future

Opinion

We have audited the financial statements of Code Your Future (the 'parent charity') and its subsidiary (the 'group') for the year ended 31 December 2023 which comprise the consolidated statement of financial activities, consolidated and parent charity balance sheets, consolidated statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and the Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 7 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

27

Independent auditors' report

To the trustees of

Code Your Future

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011, and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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Independent auditors' report

To the trustees of

Code Your Future

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

29

Independent auditors' report

To the trustees of

Code Your Future

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008, and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charityʼs trustees those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Godfrey Wilson Limited

Date: 25 September 2024

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Godfrey Wilson Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

30

Code Your Future

Consolidated statement of financial activities

For the year ended 31 December 2023

Restricted Unrestricted
Note
£
£
Income from:
Donations and legacies
3
-
297,555
Charitable activities
4
189,154
487,490
Other trading activities
5
-
180,870
Investments
-
2,686
Total income
189,154
968,601
Expenditure on:
Raising funds
-
247,731
Charitable activities
371,624
699,954
Total expenditure
6
371,624
947,685
Net income / (expenditure)
(182,470)
20,916
Transfers between funds
2,653
(2,653)
Net movement in funds
7 (179,817)
18,263
Reconciliation of funds:
Total funds brought forward
464,484
502,051
Total funds carried forward
284,667
520,314		 2023
Total
£
297,555
676,644
180,870
2,686
1,157,755
247,731
1,071,578
1,319,309
(161,554)
-
(161,554)
966,535
804,981		 Restated
2022
Total
£
535,800
867,368
106,246
3
1,509,417
201,388
992,345
1,193,733
315,684
-
315,684
650,851
966,535

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 18 to the accounts.

Prior period income and expenditure have been reclassified to reflect the requirements of the Charities SORP (FRS 102) and to be comparable with the current year. The restatements are purely reclassifications of income and expenditure and do not affect net income.

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Code Your Future

Consolidated balance sheets

As at 31 December 2023

Note
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
14
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year 15
Net current assets
Net assets
17
Funds
18
Restricted funds
Unrestricted funds
Total charity funds		 The group
2023
£
1,221
-
1,221
27,886
1,113,049
1,140,935
337,175
803,760
804,981
284,667
520,314
804,981		 The group The charity
2022
2023
£
£
2,044
1,221
-
100
2,044
1,321
71,741
326,480
1,043,176
539,144
1,114,917
865,624
150,426
61,964
964,491
803,660
966,535
804,981
464,484
284,667
502,051
520,314
966,535
804,981		 Restated
The charity
2022
£
2,044
100
2,144
52,521
1,014,004
1,066,525
95,676
970,849
972,993
464,484
508,509
972,993

Approved by the trustees on 24 September 2024 and signed on their behalf by

Stephen Grant - Trustee

32

Code Your Future

Consolidated statement of cash flows

For the year ended 31 December 2023

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Net cash provided by / (used in) investing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2023
£
(161,554)
823
(2,686)
43,855
186,749
67,187
2,686
-
2,686
69,873
1,043,176
1,113,049		 2022
£
315,684
693
(3)
452,637
(366,176)
402,835
3
(978)
(975)
401,860
641,316
1,043,176

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

33

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

1. Accounting policies

a) Basis of preparation

Code Your Future is a Charitable Incorporated Organisation registered in England and Wales. The registered office address is c/o Cititec, 69 Wilson Street, London, EC2A 2BB.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Code Your Future meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Group accounts

These financial statements consolidate the results of the charity and its wholly-owned (controlled) subsidiary on a line by line basis. Transactions and balances between the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities has not been presented for the charity.

c) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of provision of contracted work is deferred until criteria for income recognition are met.

e) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

34

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

1. Accounting policies (continued)

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

g) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particularly areas of the charity's work or for specific projects being undertaken by the charity.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of staff time occupied by each activity as follows:

Restated
2023 2022
Raising funds 29.1% 29.1%
Charitable activities 70.9% 70.9%

j) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Computer equipment 5 years
Office equipment 5 years

Items of equipment are capitalised at the discretion of trustees.

k) Investments in subsidiary undertakings

Investments in subsidiaries are measured at cost less impairment.

35

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

1. Accounting policies (continued)

l) 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.

m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n) Creditors

Creditors and provisions are recognised where there is 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.

o) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

p) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

q) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

r) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are gifts in kind as described in note e above.

36

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

2. Prior period comparatives: statement of financial activities (restated)

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds		 Restricted
£
-
504,968
-
-
504,968
-
185,992
185,992
318,976
5,544
324,520		 £
535,800
362,400
106,246
3
1,004,449
201,388
806,353
1,007,741
(3,292)
(5,544)
(8,836)
Unrestricted		 2022
Total
£
535,800
867,368
106,246
3
1,509,417
201,388
992,345
1,193,733
315,684
-
315,684

37

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

3. Income from donations and legacies

Income from donations and legacies
Donations
Gifts in kind
Grants
Total income from donations and legacies*		 2023
Total
£
32,360
228,049
37,146
297,555		 Restated
2022
Total
£
69,348
337,302
129,150
535,800

All income from donations and legacies was unrestricted in the current and prior year.

Prior year donations income has been restated to reclassify £362,400 of contract income as income from charitable activities.

*Gifts in kind comprises:

Venue hire
Office consumables and equipment
IT software
Rent
Travel
Advertising and marketing		 2023
Total
£
24,398
1,613
90,795
99,300
11,943
-
228,049		 2022
Total
£
-
4,000
189,974
126,800
-
16,528
337,302

38

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

4. Income from charitable activities

Grants
Course delivery
Total income from charitable activities
Prior period comparative:
Grants
Course delivery
Total income from charitable activities		 Restricted
£
189,154
-
189,154
Restricted
£
504,968
-
504,968		 £
55,790
431,700
487,490
£
-
362,400
362,400
Unrestricted
Unrestricted		 2023
Total
£
244,944
431,700
676,644
Restated
2022
Total
£
504,968
362,400
867,368

Prior year charitable activity income has been restated to include £362,400 of contract income which was previously included within donations income.

5. Income from other trading activities

2023 2022
Total Total
£ £
Recruitment fees 180,870 106,246

All income from other trading was unrestricted in the current and prior year.

39

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

6. Total expenditure

Total expenditure
Staff costs (note 8)
Freelance staff
Other staff costs
Fellowship expenses
Course expenses
Franchise costs
Travel
Events
Depreciation
Rent and rates
Office costs
Advertising and marketing
Insurance
Legal and professional
Audit and accountancy
Bank fees
IT and telephone
Subscriptions
Irrecoverable VAT
FX gains / losses
Corporation tax payable
Sub-total
Allocation of support
and governance costs
Total expenditure		 Raising funds
£
181,226
-
-
-
-
-
-
-
-
-
-
10,768
-
-
-
-
-
-
-
-
-
191,994
55,737
247,731		 Charitable
activities
£
530,137
41,715
1,649
8,000
65,322
16,638
35,150
26,011
-
114,503
-
-
-
-
-
-
96,917
-
-
-
-
936,042
135,536
1,071,578		 Support and
governance
costs
£
112,219
-
1,647
-
-
-
-
-
823
-
5,589
-
3,864
3,009
24,859
2,560
1,947
1,966
8,702
22,473
1,615
191,273
(191,273)
-		 2023 Total
£
823,582
41,715
3,296
8,000
65,322
16,638
35,150
26,011
823
114,503
5,589
10,768
3,864
3,009
24,859
2,560
98,864
1,966
8,702
22,473
1,615
1,319,309
-
1,319,309

Total governance costs were £12,250 (2022: £12,750).

40

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

6. Total expenditure (continued)

Prior period
comparative (restated)
Staff costs (note 8)
Freelance staff
Other staff costs
Fellowship expenses
Course expenses
Franchise costs
Travel
Depreciation
Rent and rates
Office costs
Advertising and marketing
Insurance
Legal and professional
Audit and accountancy
Bank fees
IT and telephone
Subscriptions
FX gains / losses
Sub-total
Total expenditure
Allocation of support and
governance costs		 Raising funds
£
126,840
-
-
-
-
-
-
-
-
-
32,580
-
-
-
-
-
-
-
159,420
41,968
201,388		 Charitable
activities
£
308,436
86,124
2,403
28,000
78,079
16,916
17,204
-
139,430
-
-
-
-
-
-
213,699
-
-
890,291
102,054
992,345		 Support and
governance
costs
£
78,542
-
687
-
-
-
-
693
-
2,187
-
2,286
12,091
50,036
2,431
461
2,325
(7,717)
144,022
(144,022)
-		 2022 Total
£
513,818
86,124
3,090
28,000
78,079
16,916
17,204
693
139,430
2,187
32,580
2,286
12,091
50,036
2,431
214,160
2,325
(7,717)
1,193,733
-
1,193,733

41

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

7. Net movement in funds

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration:
Statutory audit (excluding VAT)		 2023
£
823
Nil
Nil
Nil
12,250		 2022
£
693
Nil
Nil
Nil
12,750

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

8. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2023
£
734,876
72,350
16,356
823,582		 2022
£
458,642
44,489
10,687
513,818

One employee earned between £60,000-£70,000 during the current and prior year.

The key management personnel of the charity comprise the Trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £74,036 (2022: £74,044).

Average number of employees 2023
No.
17		 2022
No.
13

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The subsidiary company distributes any profits to the charity and has incurred a minimal corporation tax charge of £1,615 in the year (2022: £nil) which is included within creditors in note 15.

42

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

10. Tangible fixed assets

The charity and the group
Cost
At 1 January 2023 and at 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
11.
Investments
Investment in subsidiary company		 £
1,973
1,579
394
1,973
-
394
2023
2022
£
£
-
-
Office
equipment
The group		 Total
£
£
2,143
4,116
493
2,072
429
823
922
2,895
1,221
1,221
1,650
2,044
2023
2022
£
£
100
100
Computer
equipment
The charity		 Total
£
4,116
2,072
823
2,895
1,221
2,044

The investment represents 100% of the ordinary share capital of CodeYourFuture Labs limited, a company registered in England and Wales (no. 13232479), whose principle activity is to carry out trading activities in support of the charity. A summary of the financial results and position of CodeYourFuture Labs Limited is given in note 12.

43

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

12. Subsidiary undertakings CodeYourFuture Labs Limited

The consolidated financial statements include the results of CodeYourFuture Labs Limited, the trading arm of the charity which undertakes student programmes and recruitment of trainees.

2023
£
Turnover
564,770
Administrative expenses
(199,475)
Other operating income
604
Operating profit
365,899
Interest receivable
2,166
Profit / (loss) on ordinary activities
368,065
Corporation tax
(1,615)
Profit for financial year after taxation
366,450
Changes in equity:
Total retained profit / (losses) brought forward
(6,458)
Total comprehensive income for the year
366,450
Gift aid distribution to parent charity
(359,992)
Total retained profit / (loss) carried forward
-
The aggregate of the assets, liabilities and funds was:
2023
£
Assets
574,061
Liabilities
(573,961)
Funds
100
Parent charity
The parent charity's gross income and the results for the year are disclosed as follows:
2023
£
Gross income
950,208
Results for the year
(168,012)		 2022
£
406,871
(110,873)
-
295,998
-
295,998
-
295,998
(2,457)
295,999
(300,000)
(6,458)
2022
£
107,707
(114,065)
(6,358)
2022
£
1,402,545
319,685

13. Parent charity

44

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

14. Debtors

Debtors
Trade debtors
Amounts owed by group undertakings
Prepayments
Other debtors		 2023
2022
£
£
24,980
67,717
-
-
266
492
2,640
3,532
27,886
71,741
The group		 2023
2022
£
£
24,980
49,864
298,750
-
110
153
2,640
2,504
326,480
52,521
The charity
52,521

15. Creditors : amounts due within 1 year

Trade creditors
Amounts owed to group undertakings
Accruals
Other creditors
Deferred income (see note 16)
Corporation tax payable		 2023
2022
£
£
4,423
7,054
-
-
44,519
22,512
86,618
20,860
200,000
100,000
1,615
-
337,175
150,426
The group		 2023
2022
£
£
1,063
1,239
-
59,315
39,419
14,262
21,482
20,860
-
-
-
-
61,964
95,676
The charity		 2023
2022
£
£
1,063
1,239
-
59,315
39,419
14,262
21,482
20,860
-
-
-
-
61,964
95,676
The charity
95,676

45

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

16. Deferred income

At 1 January 2023
Deferred during the year
Released during the year
At 31 December 2023		 2023
2022
£
£
100,000
-
200,000
100,000
(100,000)
-
200,000
100,000
The group		 2023
2022
£
£
-
-
-
-
-
-
-
-
The charity		 2023
2022
£
£
-
-
-
-
-
-
-
-
The charity
-

Deferred income relates to contract income received in advance of the provision of services.

17. Analysis of group net assets between funds

Analysis of group net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2023
Prior year comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2022		 £
-
284,667
-
284,667
£
395
464,089
-
464,484
Restricted
funds
Restricted
funds		 £
1,221
856,268
(337,175)
520,314
£
1,649
650,828
(150,426)
502,051
General
funds
General
funds		 Total
funds
£
1,221
1,140,935
(337,175)
804,981
Total
funds
£
2,044
1,114,917
(150,426)
966,535

46

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

18. Movements in funds

Restricted funds
Maingot
Motorola
WMCA
Workday
Co-op
Santander
NTTF
TENT
Salesforce
Benesys
Total restricted funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds		 At 1
January
2023
£
-
-
(12,534)
8,356
5,000
59,449
4,881
4,431
384,947
9,954
464,484
502,051
502,051
966,535		 Income
£
15,000
43,206
-
80,948
-
50,000
-
-
-
-
189,154
968,601
968,601
1,157,755		 £
-
(14,774)
-
(89,304)
-
(57,871)
-
(96)
(205,571)
(4,008)
(371,624)
(947,685)
(947,685)
(1,319,309)
Expenditure		 £
-
-
12,534
-
(5,000)
-
(4,881)
-
-
-
2,653
(2,653)
(2,653)
-
Transfers
between
funds		 £
15,000
28,432
-
-
-
51,578
-
4,335
179,376
5,946
At 31
December
2023
284,667
520,314
520,314
804,981

Purposes of restricted funds

Maingot

Offer an employment experience to four of our CYF graduates and one senior developer for three months.

Motorola Build our communities in the North. Pay trainee expenses and staff/admin costs.

Santander

Code Your Future will support beneficiaries to address barriers including financial, digital and social exclusion.

TENT

To mentor refugee women.

Salesforce Establish an accelerator program to train refugees and asylum seekers for high-paid, tech roles.

Benesys

To fund 2 x tuitions of preferably Afghanistan refugees.

Transfers

Transfers relate to qualifying restricted expenditure incurred in CodeYourFuture Labs Limited during the prior year which had not been allocated against the respective funds. Other transfers relate to the topping up of restricted funds in deficit by general funds.

47

Code Your Future

Notes to the financial statements

For the year ended 31 December 2023

18. Movements in funds (continued)
Prior year comparative
At 1
January
2022
£
Restricted funds
WMCA
3,695
Workday
53,450
Co-op
5,000
Santander
100,000
NTTF
1,324
AMIF/SIMPLON
(33,136)
AMNIA
1,512
Birmingham Open Media
3,940
TENT
4,203
Salesforce
-
Benesys
(24)
Total restricted funds
139,964
General funds
510,887
Total unrestricted funds
510,887
Total funds
650,851
Unrestricted funds		 Income
£
(16,229)
-
-
-
74,397
22,968
-
-
-
413,832
10,000
504,968
1,004,449
1,004,449
1,509,417		 £
-
(45,094)
-
(40,551)
(70,840)
684
(1,512)
-
228
(28,885)
(22)
(185,992)
(1,007,741)
(1,007,741)
(1,193,733)
Expenditure		 £
-
-
-
-
-
9,484
-
(3,940)
-
-
-
5,544
(5,544)
(5,544)
-
Transfers
between
funds		 £
(12,534)
8,356
5,000
59,449
4,881
-
-
-
4,431
384,947
9,954
At 31
December
2022
464,484
502,051
502,051
966,535

19. Related party transactions

Code Your Future (CYF) is the parent charity of CodeYourFuture Labs Limited (CYF Labs). During the year CYF Labs made donations totalling £359,992 (2022: £300,000) to CYF. At the year end the balance due from CYF Labs to CYF was £298,750 (2022: CYF owed to CYF Labs £59,315).

Stephen Grant, a trustee, is also a director of Cititec Group Limited (Cititec). During the year the year Cititec allowed CYF use of office space free of charge. This has been included as a gift in kind, with £52,000 (2022: £52,000) being recognised as income and expenditure in the year. No amounts were outstanding at year end in the current or prior period.

20. Prior year restatement Balance sheet restatement

Prior year charity only restricted funds have been restated to recognise a late adjustment raised in the prior year that was not reflected in the final accounts. As a result of the restatement, restricted funds have increased by £38,074 and unrestricted funds have decreased by the same amount at 31 December 2022. There has been no impact on total income or expenditure recognised in the prior year, or to the group balance sheet.

48