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← Code Your Future

2024-12-31-accounts

Charity no. 1174929 OSCR no. SCO50753

Code Your Future

Report and Audited Financial Statements 31 December 2024

Code Your Future

Reference and administrative details

For the year ended 31 December 2024
Charity number 1174929
OSCR number SCO50753
Registered office and 4th Floor
operational address Silverstream House
45 Fitzroy Street
Fitzrovia
London
W1T 6EB
Trustees The trustees who served during the year and up to the date of this report
were as follows:
Joy Maitland - Chair appointed 14 October 2024
Christopher Bond appointed 14 January 2025
Stephen Grant
Ieva Kajokaite resigned 24 December 2024
Christian Miccio resigned 24 December 2024
Christina O'Beirne resigned 24 June 2024
Daniela Sozzi appointed 14 January 2025
Barath Vignarajah appointed 14 October 2024
Christopher Whalley appointed 14 January 2025
Senior management Germán Bencci - Founder/CEO
personnel Liliana Bermudes - Chief Strategy Officer
Alec McCrindle - Director of Community and Marketing (part-time),
Safeguarding Officer
Daniel Wagner Hall - Director of Education
Karen Klein - Director of Product & Professional Development
Sally McGrath - Director of Programme
Bankers HSBC Bank PLC
1 Centenary Square
Birmingham
B1 1HQ
Solicitors Travers Smith
10 Snow Hill
London
EC1A 2AL
Auditors Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

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).

Structure, Governance and Management

Constitution

Code Your Future (CYF) is a Charitable Incorporated Organisation (CIO) established in England. Its charitable object is to advance education for the public benefit by providing IT and software development courses, professional mentoring and employability advice primarily to refugees, asylum seekers, and persons with income below 60% of the median household income, with the aim of facilitating their integration into professional work environments.

Governing document

The organisation operates under a CIO constitution where the only voting members are its trustees. This document outlines the organisation's objects, powers, governance structure, decision-making processes, and financial management. It includes provisions for trustee appointment, meetings, conflicts of interest, record-keeping, and dissolution procedures in compliance with the Charities Act 2011.

Trustee recruitment and appointment

The CIO requires between 3 and 12 charity trustees. New trustees are appointed by resolution at trustee meetings for three-year terms. When selecting individuals, existing trustees must consider the skills, knowledge and experience needed for effective administration. Trustees must be natural persons aged at least 16, with at least one trustee being 18 or older. The first trustees were appointed for specified terms between 2-4 years.

Induction and training of trustees

New trustees receive a copy of the current constitution and the CIO's latest Trustees' Annual Report and statement of accounts before or upon their appointment. This ensures they understand the organisation's governance framework and financial position from the start of their tenure.

2024 Organisational structure

Members of Staff Full-time Full-time Part-time Part-time
10 5
Roles C-Level Director Mid-level Junior
2 4 5 4

Remuneration policy

There is a salary band system that aligns with the levels of seniority and accountability within the organisation, whose levels are benchmarked against similar-sized charities.

Salaries are determined and reviewed considering factors such as the organisation’s annual income, financial sustainability projections and the scope of responsibilities for each role.

Updates reflect changes in industry standards, cost of living, and the evolving needs of the organisation.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Decision-making process

The Board of Trustees provides strategic direction and fiduciary oversight. It’s responsible for ensuring the organisation's activities and operations comply with all relevant legal and regulatory requirements. The Board is accountable for the charity's financial management and long-term sustainability. The diverse professional backgrounds of our trustees includes leaders in professional development, tech, engineering, consulting, and law. This ensures a robust and well-rounded skill set to guide our initiative.

The executive leadership manages the day-to-day delivery of the charity's mission, which includes the implementation of 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. 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.

Risk management

The trustees regularly review the major risks to which the charity is exposed, including financial, operational, reputational, and strategic risks. Systems and procedures have been established to manage these risks, including internal controls, safeguarding training, and ongoing performance monitoring. The impact of economic uncertainty and tech-sector volatility has been identified as a key risk, and mitigation strategies include diversification of funding sources and curriculum adaptability.

Related parties and key partnerships

Capgemini

Capgemini has been our strategic partner since 2019, supporting CYF’s work across England. In 2024, 138 Capgemini employees volunteered, supporting the teaching and mentoring of CYF trainees. To date, 92 graduates have become employees at Capgemini in several business units and roles.

Slack

The partnership with Slack established in 2023 was renewed in 2024 and, together, we have developed a world-class systems engineering curriculum. The programme delivered in partnership with Slack, saw 100% of participants gain employment in 2024.

Hg Foundation

In 2024, we established a 3-year partnership with Hg Foundation, a grant-giving charity focused on improving tech education and skills. With The Hg Foundation’s partnership over the next 3 years, CYF will be expanding communities to three new cities across the UK by 2027. Part of the grant will also contribute funding and support with data and impact measurement, and scoping out an independent evaluation.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Objectives and activities

Aims and purpose:

Code Your Future aims to advance education by providing IT and software development courses, professional mentoring and employability advice to its beneficiaries. The organisation focuses on developing individuals' capabilities, competencies, understanding, and employability, with the ultimate goal of facilitating their integration into professional work environments.

Legal purposes and public benefit statement

The organisation's legal purposes are charitable as defined by law, specifically focusing on the advancement of education for public benefit. The constitution explicitly states that beneficiaries include persons granted refugee status, persons seeking asylum, and individuals whose income falls below 60% of the median household income (based on the Households Below Average Income survey). The constitution also includes provisions ensuring compliance with charity law across the UK, stating that nothing in the constitution shall authorise applications of property for purposes that are not charitable according to the relevant legislation in Scotland and Northern Ireland. The trustees have had due regard to the Charity Commission's guidance on public benefit.

Strategies to achieve objectives

CYF has implemented several initiatives to meet our core objectives of connecting diverse talent with quality opportunities and building sustainable partnerships across the corporate landscape, these include:

Corporate partnership development

We offer tailored partnership and recruitment packages to companies actively seeking to diversify their talent pipelines. These packages include prioritised access to our talent pool and customised recruitment support. By structuring these partnerships around measurable hiring outcomes, we ensure mutual benefit and sustainable engagement.

Mentorship community cultivation

We are building a thriving professional community centred on quality mentorship. This community serves as both a development resource for our trainees and a network of advocates within target organisations. We've implemented a mentorship programme to maintain high-quality guidance for participants.

Community mentorship

We are leveraging our professional community to develop quality corporate leads, creating direct pathways for introducing our talent to potential employers. This approach includes facilitating networking events, organising targeted introductions, and maintaining an active corporate engagement programme that highlights our talent's capabilities and readiness.

Strategic lead generation

We are strategically prioritising grants from corporate sources interested in developing diversity hiring pipelines. This approach aligns our funding sources with our mission objectives, creating a virtuous cycle where grant activities directly support our talent placement goals while providing corporate partners with measurable diversity outcomes.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Adaptive training

We continually update our training curriculum to meet the evolving demands of the skilled market. This process involves regular industry consultation, skills gap analysis, and trend monitoring to ensure our programme remains relevant and valuable. By maintaining this dynamic approach to curriculum development, we prepare our talent for both current market needs and emerging opportunities.

Criteria for measuring success

Our criteria for measuring success includes:

Significant activities

Training

We offer a part-time comprehensive programme designed to help people develop digital and professional skills, leading to a job in tech after completion. The programme is structured by courses to be taken alongside people’s commitments, such as work, parenting, etc. The preparation work is done online, and complementary in-person sessions happen on Saturdays.

The following courses took place in 2024:

Basic Online Skills - 3 weeks : designed to enhance smartphone skills for individuals with basic device knowledge. Participants will learn essential functionalities like browsing, searching, using apps, managing social media, and exploring digital banking and shopping;

Intro to Digital (ITD) - 4 weeks: the hybrid course introduces individuals to the fundamentals of digital technology, incorporating generative AI tools; and

Intro to Programming (ITP) - 12 weeks: focuses on core programming concepts, including data structures, algorithms, testing, UI design, object-oriented programming (OOP) principles, and Git.

Employability Support

As part of our offer, we continue to support our graduates until they are ready to secure a job. We help them with CV writing, interview skills, and targeted role preparation. Additionally, we match them with job opportunities within our recruitment partner network and the broader community.

Achievements and performance

Key activities and achievements

In early 2024, we initiated discussions about delivering more focused and efficient learning through shorter, high-impact courses. Our end goal was to increase the level of what we teach to reflect the new job market by teaching more fundamental, transferable skills and doing so more effectively.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Therefore, from May to August 2024, we started an essential change in our curriculum, which led to a whole redesign of our courses’ structure. In June 2024, we launched the redesign project with volunteers assembling the new, separate courses. These courses included modifications to ITD and the design of ITP, Piscine, and SDC programs, which are described below.

In September, we launched the redesigned programme, starting with the new ITD, and in October 2024, we kicked off the first ITP. Towards the end of that ITP (December 2024), we made significant edits to the first few weeks of ITP.

The updates were led by our Director of Programme, together with a group of eight tech professionals, all of whom are longstanding volunteers in our Curriculum team. External partners and curriculum specialists also contributed with feedback and invaluable input.

The implemented changes allowed CYF to break up the course into shorter ones that run more frequently, making it easier:

Courses description

Introduction to Digital (4 weeks)

Introduction to Programming (16 weeks)

Piscine (3 weeks)

Software Development Course (16 weeks)

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Milestones and benchmarks

This year, Code Your Future continued to scale its social and economic impact through inclusive tech education and community-driven delivery:

Impact area Key metric (2024)
Total learners supported 520 individuals across 6 UK regions and South Africa
Graduate job placements 31 secured roles in tech or digital sectors

Volunteer contribution		 400+volunteers joined our community
Cities reached 7 cities including Glasgow, Birmingham, Cape Town
New courses launched 3 redesigned modular programmes rolled out
Cumulative job placements 300+since inception

These results underscore CYF’s growing ability to connect underrepresented talent with career opportunities in the tech ecosystem, while strengthening community networks through mentorship and volunteerism.

Volunteer contributions

CYF is a volunteer-led organisation that relies on the support of professionals who kindly share their time and skills with our community. They are at the forefront of delivering our technical and mentorship programmes in our six regions in the UK and South Africa.

Our volunteers know about the organisation mainly through word of mouth, and actively search for volunteering opportunities in tech, happening both via social media and internet search. In 2024, more than 400 volunteers, in remote and in-person roles, joined our organisation.

Our trainees rely on continuous guidance each year to facilitate content, mentor, provide feedback, manage projects, review CVs, conduct mock interviews, offer code reviews, and organise events.

London

From January to August 2024, volunteers facilitated the Portfolio Module and employability sessions, assisting graduates with job applications and providing ongoing motivation to secure tech roles. Additionally, we hosted six volunteer-led Basic Online Skills workshops in 2024.

North West

Between January and August 2024, volunteers supported trainees in completing the second half of the Software Development Programme, progressing from JavaScript to the Launch Module. In September 2024, we held our final demo in Birmingham, featuring teams from both North West and West Midlands communities. Our volunteers assisted with the logistical organisation of this event. Furthermore, in August 2024, volunteers organised an in-person recruitment event to address the need for additional volunteers in the region for our new programme.

West Midlands

Similar to Manchester, the volunteers in Birmingham assisted trainees throughout the first three quarters of the year, helping them develop the technical skills necessary to complete the course. Additionally, they organised a networking event to provide trainees and graduates with professional support in their tech job search. As mentioned previously, in September 2024, volunteers assisted with the logistical coordination of the graduation demo for our community members.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Scotland

In Glasgow, volunteers supported the Portfolio Module from January to May and subsequently facilitated employability sessions for trainees after they had completed their portfolios. In June 2024, volunteers partnered with Code Division to organise a networking event and mini job fair, providing a platform for trainees to showcase their demos at an in- person event in central Glasgow. Volunteers also represented us at events such as Turing Fest, held in July, to recruit additional volunteers.

Sheffield

As our newest region, Sheffield formally commenced operations in the second half of 2024, hosting a Basic Online Skills course, followed by our first Intro to Digital course. Volunteers played a vital role in delivering the Saturday sessions.

South Africa

In February 2024, South Africa secured a venue partnership with Mustadafin, another NGO focusing on food distribution and skills training. The region hosted multiple BOS courses. The volunteers have since hosted multiple in-person classes at this venue as well as a Community event in October 2024 to advertise the CYF Software Development Programme.

Remote volunteer-led activities

During the first half of 2024, our remote volunteers contributed to various roles within Code Your Future products, facilitated online employability sessions, and provided online support. However, as detailed below, the nature of remote contributions has evolved during the rest of 2024.

Volunteer contributions across all regions from September 2024

We have adapted our programme and restructured our volunteer teams in response to the evolving tech industry landscape. The Software Development Course has been divided into four progressive courses, allowing us to create specialised volunteer teams based on professional experience and availability. Our courses now start simultaneously in all six regions, with new cohorts beginning every other month. Consequently, we continually recruit, form, and empower volunteer teams to support each cohort.

In addition to in-person regional support, we have introduced online opportunities for volunteers unable to participate in person. These include code reviews, pair programming, participation in our ITD/ITP Slack workspaces, online support for midweek ITD sessions, course progression checks, and assistance with remote Saturday sessions.

Investment and fundraising performance External factors affecting performance

The past year presented significant external challenges that impacted our operational environment and performance metrics. The labour market underwent substantial changes, with technology sector layoffs creating a surplus of available talent while simultaneously reducing traditional funding sources. Junior recruitment slowed considerably as emerging technologies altered hiring volumes and patterns across our sector.

UK labour productivity continued its downward trajectory, presenting additional obstacles to organisational efficiency during a period already marked by global political and economic uncertainty. These combined factors required strategic adjustments to our operational approach and resource allocation, while reinforcing the importance of our mission during challenging economic times.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Environmental sustainability

While Code Your Future’s activities have a relatively low environmental footprint, we are mindful of our responsibility to reduce our impact wherever possible. In 2024, we took the following steps:

We are exploring the inclusion of sustainability objectives in future strategy cycles and welcome the opportunity to align with partner organisations on shared environmental goals.

Financial review

Financial performance summary

The consolidated financial statements for the year to 31 December 2024 are for Code Your Future and its wholly-owned trading subsidiary, CodeYourFuture Labs Ltd.

For the year to 31 December 2024, funds raised from grants, donations and partnerships amount to £1,152,314 (2023: £1,157,755), of which unrestricted income was £841,673 (2023: £968,601) and £310,641 was restricted income (2023: £189,154).

CodeYourFuture Labs Ltd contributed £232,576 (2023: £359,992) to unrestricted funds. CodeYourFuture Labs Ltd donates all its profits to Code Your Future, as per a deed of covenant.

During the year, £142,521 of income and expenditure was recorded relating to the value of gifts in kind donated to the charity throughout the year. These gifts comprised office and venue spaces donated for trainee, volunteer, and staff co-working and classes, as well as IT equipment, software, and licences, compared to £228,049 in 2023. Were 2023 gifts in kind revised from fair market value to align with SORP requirements of the amount Code Your Future would be willing to pay for these gifts if they were not donated and had to be paid for; this revised value would be comparable to the 2024 gift in kind value.

Expenditure during the year was £1,005,399 (2023: £1,319,309), representing a reduction from 2023. Staff costs (£177k reduction from 2023) are also reflected in the decrease in average staff numbers in 2024, where we had 13 employees compared to 17 in 2023. There were also some reductions in income and expenditure relating to the method of valuing gifts in kind in 2024 to bring it in line with SORP requirements, as mentioned above.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

£797,901 of expenditure was spent on charitable activities (2023: £1,071,578), as savings were realised in areas such as staff costs, IT costs, and rent valuations. There were some temporary savings in trainee expense reimbursement due to programme changes, but they are expected to rise again in 2025. £207,498 was spent on fundraising (2023: £247,731). Support and governance costs of £160,524 (£2023: £191,273) were apportioned and are included within the values for charitable activities and fundraising expenditure.

At the end of the year, the charity held £951,896 (2023: £804,981) of funds, of which £683,066 related to unrestricted funds (2023: £520,314). These funds are available for the trustees to use in accordance with the charity's objectives.

£268,830 (2023: £284,667) related to restricted funds, which are designated for specific purposes as stipulated by the donors. All restricted funds are expected to be spent in 2025.

To streamline its administrative burden and optimise its overheads, Code Your Future plans to simplify its group structure starting in 2025 by integrating the activities of its wholly owned subsidiary, CodeYourFuture Labs Ltd, into the charity. A review found that all CodeYourFuture Labs Ltd's activities are primarily for the purpose of trading, directly supporting the charity's objectives. The plan is to bring these activities and income streams into Code Your Future CIO, make CodeYourFuture Labs Ltd dormant, register the charity for VAT, and transfer existing contracts from CodeYourFuture Labs Ltd to the charity.

Going concern statement

The trustees have assessed the charity's ability to continue as a going concern and have a reasonable expectation that the charity has adequate resources to continue its operational activities for the foreseeable future, being at least 12 months from the date these financial statements were approved. In making this assessment, the trustees have considered the charity's current financial position, its plans, and potential risks and uncertainties. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves policy

Total Funds at Year-End: £951,896

Breakdown of restricted, unrestricted and designated funds

Restricted: £268,830 Unrestricted (general): £683,066 Unrestricted (designated): £nil

Plans for reserve utilisation

The current reserve policy is set at £300k. However, this policy is due to be revised, discussed and updated by the trustees during the course of 2025, to better align with the charity's activities and future operating plans.

During 2024, the charity opted not to invest its surplus reserves in high-risk investment vehicles, instead holding these funds in low-risk, interest-bearing accounts designed to mitigate the impact of inflation. Recognising the need to optimise the long-term value and sustainability of its resources, the Board of Trustees intends to evaluate the most appropriate investment options for excess cash in 2025, aligning this assessment with the broader review of the charity’s strategy and operational plans.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Fundraising

This section outlines how Code Your Future approaches fundraising in accordance with the Charities (Protection and Social Investment) Act 2016.

(a) The approach taken by CYF to activities for fundraising

(d) Whether the charity monitored activities carried on by any person on behalf of the charity for fundraising, and, if so, how it did so:

Yes, we monitor the activities of individuals and partners who fundraise on our behalf, such as those using platforms like JustGiving. These individuals include volunteers, members of the public, and staff from partner companies. Although the amounts raised through these individual efforts are typically small, we provide support and guidance, including branding guidelines, which are delivered through our partners where applicable. We also monitor their fundraising pages to ensure that the messaging aligns with our values and mission.

(e) The number of complaints received by the charity or a person acting on its behalf about activities for fundraising:

The charity has a formal complaints procedure in place, and any concerns regarding fundraising activities can be directed to the CEO or Board of Trustees for prompt investigation. We are pleased to report that we received no complaints about our fundraising activities in the last financial year.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

(f) What the charity has done to protect vulnerable people and other members of the public from certain behaviour in the course of fundraising:

Safeguarding vulnerable people and the public is a priority in all our activities, including fundraising. We are committed to ensuring that our fundraising does not involve unreasonable intrusions on privacy, unreasonably persistent approaches, or undue pressure to give. Our approach to mitigating these risks includes:

By focusing our limited fundraising efforts and embedding safeguarding principles, we strive to ensure that our fundraising is conducted in a respectful and safe manner.

Lessons learned and future strategy

As we reflect on our journey thus far, we've gained valuable insights that are shaping our path forward. These lessons have helped us understand how to enhance our impact and ensure long-term sustainability.

Deepen strategic partnerships

Our experience has shown that transactional relationships with employers yield limited results. Moving forward, we want to prioritise and cultivate deeper and more collaborative partnerships. By codesigning recruitment pathways, offering exclusive access to our talent pool, and providing ongoing support during the onboarding process, we aim to create direct hiring pipelines that benefit both our graduates and partner organisations.

Integration of our professional community

We've recognised our professional community as a core asset that drives success across multiple dimensions of our work. Our strategy involves further integrating this community into all aspects of our operations — from providing quality mentorship to our trainees, offering critical feedback on curriculum development, generating valuable corporate leads, and even unlocking new funding opportunities.

Diversify and secure funding streams

The importance of financial resilience has become increasingly apparent. We are actively pursuing a broader range of funding beyond corporate grants, exploring impact investment opportunities, government funding sources, and developing earned revenue models that align with our mission. This diversified approach to funding will provide greater stability, reducing reliance on any single source while enabling us to scale our operations and extend our reach to more communities.

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Code Your Future

Report of the trustees

For the year ended 31 December 2024

Implement agile and data-driven curriculum iteration

The rapid pace of technological change demands a more responsive approach to curriculum development. We are formalising a system for agile curriculum updates based on real-time market data and direct employer feedback. This structured yet flexible framework will ensure our training programmes remain highly relevant, equipping our participants with the skills most valued in the current marketplace while anticipating emerging needs.

Sharpen the value proposition for employers

In a competitive hiring market, we learned that articulating our unique value has proven essential. We are refining how we communicate the tangible benefits of hiring from our programmes, using data and success stories to quantify the advantages of our diverse, well-mentored talent pool to strengthen our position as a valuable talent pipeline.

Build resilience and adaptability

Perhaps our most significant lesson has been the importance of organisational flexibility in the face of uncertainty. We are intentionally embedding resilience and adaptability into all operational aspects, from programme delivery models to partnership structures. This approach will enable us to navigate future economic fluctuations and technological disruptions effectively, ensuring our continued ability to serve both our participants and employer partners regardless of external conditions.

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 2024

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 3 July 2025 and signed on their behalf by

Stephen Grant - Trustee

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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 2024 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.

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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 require 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.

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Independent auditors' report

To the trustees of

Code Your Future

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.

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:

▪Testing transactions that are unusual or outside the normal course of business.

17

Independent auditors' report

To the trustees of

Code Your Future

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.

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: 4 July 2025

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.

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Code Your Future

Consolidated statement of financial activities

For the year ended 31 December 2024

Restricted Unrestricted
Note
£
£
Income from:
Donations
3
-
306,818
Charitable activities
4
310,641
401,025
Other trading activities
5
-
126,918
Investments
-
6,912
Total income
310,641
841,673
Expenditure on:
Raising funds
-
207,498
Charitable activities
326,478
471,423
Total expenditure
6
326,478
678,921
7
(15,837)
162,752
Reconciliation of funds:
Total funds brought forward
284,667
520,314
Total funds carried forward
268,830
683,066
Net income / (expenditure) and movement in
funds		 2024
2023
Total
Total
£
£
306,818
297,555
711,666
676,644
126,918
180,870
6,912
2,686
1,152,314
1,157,755
207,498
247,731
797,901
1,071,578
1,005,399
1,319,309
146,915
(161,554)
804,981
966,535
951,896
804,981

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.

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Code Your Future

Consolidated balance sheets

As at 31 December 2024

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
2024
£
792
-
792
149,549
1,121,355
1,270,904
319,800
951,104
951,896
268,830
683,066
951,896		 The group The charity
2023
2024
£
£
1,221
792
-
100
1,221
892
27,886
512,779
1,113,049
513,123
1,140,935
1,025,902
337,175
74,898
803,760
951,004
804,981
951,896
284,667
268,830
520,314
683,066
804,981
951,896		 The charity
2023
£
1,221
100
1,321
326,480
539,144
865,624
61,964
803,660
804,981
284,667
520,314
804,981

Approved by the trustees on 3 July 2025 and signed on their behalf by

Stephen Grant - Trustee

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Code Your Future

Consolidated statement of cash flows

For the year ended 31 December 2024

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Interest from investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities
Cash flows from investing activities:
Interest from investments
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		 2024
£
146,915
429
(6,912)
(121,663)
(17,375)
1,394
6,912
6,912
8,306
1,113,049
1,121,355		 2023
£
(161,554)
823
(2,686)
43,855
186,749
67,187
2,686
2,686
69,873
1,043,176
1,113,049

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

21

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

1. Accounting policies

a) General information and basis of preparation

Code Your Future is a Charitable Incorporated Organisation registered in England and Wales. The registered office address is 4th floor, Silverstream House, 45 Fitzroy Street, Fitzrovia, London, W1T 6EB.

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.

22

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

1. Accounting policies (continued)

e) Donated services and facilities (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:

2024 2023
Raising funds 32.3% 29.1%
Charitable activities 67.7% 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.

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Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

1. Accounting policies (continued)

k) Investments in subsidiary undertakings

Investments in subsidiaries are measured at cost less impairment.

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 1(e) above and below.

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Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

1. Accounting policies (continued) r) Accounting estimates and key judgements (continued) Donated services and facilities:

The trustees have exercised judgement in relation to the recognition of donated goods and services in the year ended 31 December 2024, and note that the value recognised has a material effect on the financial statements.

In accordance with the Charities SORP, the trustees must recognise such gifts at their value to the charity, based on the amount the charity would pay in the open market for a comparable item offering similar benefit.

The trustees note that donated goods and services received during the year largely relate to donated office space and IT software. During the year the charity reviewed its estimation techniques for valuing gifts in kind. It was noted that IT software provides a significant benefit to the charity and its beneficiaries and that this was made possible through a strong relationship with the IT providers. The charity has previously recognised this support at its premium cost, having been the price that would have been paid for an item of equivalent benefit . However, it was determined that this should be reduced this year in consideration of lower cost and free alternatives which the charity would use if this premium support was not available to it. This estimation technique will be implemented prospectively, and has no bearing on the prior year comparative.

2. Prior period comparatives: statement of financial activities

Income from:
Donations
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
£
-
189,154
-
-
189,154
-
371,624
371,624
(182,470)
2,653
(179,817)		 £
297,555
487,490
180,870
2,686
968,601
247,731
699,954
947,685
20,916
(2,653)
18,263
Unrestricted		 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)

25

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

3. Income from donations

Grants
Gifts in kind
Donations
Total income from donations*		 2024
2023
Total
Total
£
£
136,046
37,146
142,521
228,049
28,251
32,360
306,818
297,555

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

*Gifts in kind comprises:

Venue hire
Office consumables and equipment
IT software ^
Rent
Travel		 2024
Total
£
35,589
21,732
10,000
75,200
-
142,521		 2023
Total
£
24,398
1,613
90,795
99,300
11,943
228,049

^ As described further in note 1(r), during the year the charity reviewed its estimation techniques for valuing gifts in kind. As a result, it has revised its estimates for IT support based on lower cost and free alternatives that it would have utilised had premium support not been available. Had IT support been recognised at its premium market value this year, its cost would have been estimated at £275,002.

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Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

4. Income from charitable activities

Grants
Course delivery
Total income from charitable activities
Prior period comparative:
Grants
Course delivery
Total income from charitable activities
5.
Income from other trading activities
Recruitment fees		 Restricted
£
310,641
-
310,641
Restricted
£
189,154
-
189,154		 £
-
401,025
401,025
£
55,790
431,700
487,490
2024
Total
£
126,918
Unrestricted
Unrestricted		 2024
Total
£
310,641
401,025
711,666
2023
Total
£
244,944
431,700
676,644
2023
Total
£
180,870

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

27

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

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
FX (gains) / losses
Sub-total
Allocation of support
and governance costs
Total expenditure		 Raising funds
£
152,229
-
-
-
-
-
-
-
-
-
-
3,381
-
-
-
-
-
-
-
155,610
51,888
207,498		 Charitable
activities
£
375,204
46,910
-
26,700
83,827
16,210
14,027
4,795
-
80,418
-
-
-
-
-
-
41,174
-
-
689,265
108,636
797,901		 Support and
governance
costs
£
119,183
-
1,797
-
-
-
-
-
429
-
5,113
-
6,603
116
21,917
2,422
50
5,150
(2,256)
160,524
(160,524)
-		 2024 Total
£
646,616
46,910
1,797
26,700
83,827
16,210
14,027
4,795
429
80,418
5,113
3,381
6,603
116
21,917
2,422
41,224
5,150
(2,256)
1,005,399
-
1,005,399

Total governance costs were £13,225 (2023: £12,250).

28

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

6. Total expenditure (continued)
Prior period
comparative
Raising funds
£
Staff costs (note 8)
181,226
Freelance staff
-
Other staff costs
-
Fellowship expenses
-
Course expenses
-
Franchise costs
-
Travel
-
Events
-
Depreciation
-
Rent and rates
-
Office costs
-
Advertising and marketing
10,768
Insurance
-
Legal and professional
-
Audit and accountancy
-
Bank fees
-
IT and telephone
-
Subscriptions
-
Irrecoverable VAT
-
FX (gains) / losses
-
Corporation tax payable
-
Sub-total
191,994
55,737
Total expenditure
247,731
Allocation of support and
governance costs		 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

29

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

7. Net movement in funds

This is stated after charging:

2024 2023
£ £
Depreciation 429 823
Operating lease payments Nil Nil
Trustees' remuneration Nil Nil
Trustees' reimbursed expenses Nil Nil
Auditors' remuneration (excluding VAT):
▪Statutory audit 13,225 12,250
▪Other services 672 Nil

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements. Our auditors have also provided payroll services to the charity during the year.

8. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Redundancy
Employees earning more than £60,000 during the year:
Between £60,000 and £70,000		 2024
£
571,490
57,574
13,364
4,188
646,616
2024
No.
2		 2023
£
734,876
72,350
16,356
-
823,582
2023
No.
1

The key management personnel of the charity comprise the Trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £74,696 (2023: £74,036).

Average number of employees 2024
No.
13		 2023
No.
17

30

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

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 not incurred a corporation tax charge in the year. In the prior year a corporation tax charge of £1,615 was incurred which is included within creditors in note 15.

10. Tangible fixed assets

The charity and the group
Cost
At 1 January 2024 and at 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 £
1,973
1,973
-
1,973
-
-
Office
equipment		 £
2,143
922
429
1,351
792
1,221
Computer
equipment		 Total
£
4,116
2,895
429
3,324
792
1,221

11. Investments

Investment in subsidiary company 2024
2023
£
£
-
-
The group		 2024
2023
£
£
100
100
The charity

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.

31

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

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.

2024
£
Turnover
527,943
Administrative expenses
(301,848)
Other operating income
-
Operating profit
226,095
Interest receivable
6,481
Profit on ordinary activities
232,576
Corporation tax
-
Profit for financial year after taxation
232,576
Changes in equity:
Total retained profit / (losses) brought forward
-
Total comprehensive income for the year
232,576
Gift aid distribution to parent charity
(232,576)
Total retained profit / (loss) carried forward
-
The aggregate of the assets, liabilities and funds was:
2024
£
Assets
655,022
Liabilities
(654,922)
Funds
100
Parent charity
The parent charity's gross income and the results for the year are disclosed as follows:
2024
£
Gross income
1,062,991
Results for the year
146,915		 2023
£
564,770
(199,475)
604
365,899
2,166
368,065
(1,615)
366,450
(6,458)
366,450
(359,992)
-
2023
£
574,061
(573,961)
100
2023
£
950,208
(168,012)

13. Parent charity

32

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

14. Debtors

Trade debtors
Amounts owed by group undertakings
Prepayments
Other debtors		 2024
2023
£
£
32,222
24,980
-
-
-
266
117,327
2,640
149,549
27,886
The group		 2024
2023
£
£
1,430
24,980
410,020
298,750
-
110
101,329
2,640
512,779
326,480
The charity

15. Creditors : amounts due within 1 year

Trade creditors
Accruals
Other creditors
Deferred income (see note 16)
Corporation tax payable		 2024
2023
£
£
1,937
4,423
21,030
44,519
96,833
86,618
200,000
200,000
-
1,615
319,800
337,175
The group		 2024
2023
£
£
1,873
1,063
15,088
39,419
57,937
21,482
-
-
-
-
74,898
61,964
The charity		 2024
2023
£
£
1,873
1,063
15,088
39,419
57,937
21,482
-
-
-
-
74,898
61,964
The charity
61,964

16. Deferred income

At 1 January 2024
Deferred during the year
Released during the year
At 31 December 2024		 2024
2023
£
£
200,000
100,000
200,000
200,000
(200,000)
(100,000)
200,000
200,000
The group		 2024
2023
£
£
-
-
-
-
-
-
-
-
The charity		 2024
2023
£
£
-
-
-
-
-
-
-
-
The charity
-

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

33

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

17.
Analysis of group net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2024
Prior year comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2023		 £
-
268,830
-
268,830
£
-
284,667
-
284,667
Restricted
funds
Restricted
funds		 £
792
1,002,074
(319,800)
683,066
£
1,221
856,268
(337,175)
520,314
General
funds
General
funds		 Total
funds
£
792
1,270,904
(319,800)
951,896
Total
funds
£
1,221
1,140,935
(337,175)
804,981

34

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

18. Movements in funds

Movements in funds
Restricted funds
Maingot
Motorola
Cast - Deloitte
Google AI CPI
HG Foundation
Santander
Motorola 24
SkyScanner
TENT
Salesforce
Benesys
Total restricted funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds		 At 1
January
2024
£
15,000
28,432
-
-
-
51,578
-
-
4,335
179,376
5,946
284,667
520,314
520,314
804,981		 Income
£
-
-
3,445
29,049
197,144
-
45,951
35,052
-
-
-
310,641
841,673
841,673
1,152,314		 £
(12,225)
(28,432)
(3,445)
-
(29,099)
(28,568)
-
(35,052)
(4,335)
(179,376)
(5,946)
(326,478)
(678,921)
(678,921)
(1,005,399)
Expenditure		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Transfers
between
funds		 £
2,775
-
-
29,049
168,045
23,010
45,951
-
-
-
-
At 31
December
2024
268,830
683,066
683,066
951,896

Purposes of restricted funds

Maingot

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

Motorola

To build our communities in the North, pay trainee expenses and staff/admin costs.

Cast - Deloitte

The grant is intended to free up either the capacity of the digital lead, so they can fully participate in the programme, or to be used to support CYF to undertake user research.

Google AI CPI

The Google AI Opportunity Fund is to be used to deliver AI learning to current learners and cohorts face to face within classes. This is an additional element of learning added to CYF programme.

HG Foundation

In 2024, we established a 3-year partnership with HG Foundation, a grant-giving charity focused on improving tech education and skills. With The HG Foundation’ partnership over the next 3 years, CYF will be expanding communities to three new cities across the UK by 2027. Part of the grant will also contribute funding and support with data and impact measurement, and scoping out an independent evaluation.

35

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

18. Movements in funds (continued) Purposes of restricted funds (continued)

Santander

CYF will support beneficiaries to address barriers including financial, digital and social exclusion.

Motorola 24

To help with Portfolio Module, concentrating on West Midlands region, providing trainees with essential expenses beyond the main Software Development Course so they can fully immerse themselves in the module. For in-person spaces where our community can work together. Funds from this grant will enable us to pursue a space for networking events and job fairs to connect more employers with our community. We will host networking events at this venue to connect trainees with potential employers.

SkyScanner To help fund female tuition, programme and learning costs along with female trainee expenses

TENT To mentor refugee women.

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

Benesys

To fund tuitions of preferably Afghanistan refugees.

Prior year comparative
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

36

Code Your Future

Notes to the financial statements

For the year ended 31 December 2024

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 £232,576 (2023: £359,992) to CYF. At the year end the balance due from CYF Labs to CYF was £410,020 (2023: £298,750). Also in the year, CYF recharged expenditure of £212,524 to CYF Labs, in respect of staff time and other costs incurred on behalf of Labs (2023: £nil).

Stephen Grant, a trustee, is also a director of Cititec Group Limited (Cititec). During the year Cititec allowed CYF use of office space free of charge. This has been included as a gift in kind, with £26,000 (2023: £52,000) being recognised as income and expenditure in the year. No amounts were outstanding at year end in the current or prior period.

37