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2024-03-31-accounts

Causeway Education Ltd

Report and Financial Statements for the year ended 31 March 2024

Company Number England 09239703 Charity Number England and Wales 1175109

Contents

2023-2024 Highlights ..................................................................................................................................................................... 5 Company information ..................................................................................................................................................................... 6 Trustees ........................................................................................................................................................................................... 6 Registered office .......................................................................................................................................................................... 6 Independent Examiners ............................................................................................................................................................ 6 Bank .................................................................................................................................................................................................. 6 Directors and key personnel ................................................................................................................................................... 6 Trustees’ report ................................................................................................................................................................................ 7 Our mission .................................................................................................................................................................................... 7 Public benefit statement ........................................................................................................................................................... 7 Our values ....................................................................................................................................................................................... 8 Our key programmes ................................................................................................................................................................. 9 Training, research and consultancy ................................................................................................................................ 9 Student workshops and mentoring ................................................................................................................................. 9 Resources ................................................................................................................................................................................ 10 Key achievements in the year .............................................................................................................................................. 11 Training, research and consultancy ............................................................................................................................. 11 Student workshops and mentoring .............................................................................................................................. 11 Resources ................................................................................................................................................................................ 12 Impact highlights from FY 2023-2024 ........................................................................................................................ 12 Reach for financial year 2023-24 .................................................................................................................................. 14 How we are funded .................................................................................................................................................................. 15 Future strategic plans ............................................................................................................................................................. 15 How we manage our affairs ...................................................................................................................................................... 16 Trustees ........................................................................................................................................................................................ 16 Appointment of Trustees .................................................................................................................................................. 16 Trustee induction and training ...................................................................................................................................... 16 Trustee decision making ....................................................................................................................................................... 16 Pay policy ................................................................................................................................................................................ 16 Trustee responsibilities .................................................................................................................................................... 16 Compliance information ........................................................................................................................................................ 17 Data protection ..................................................................................................................................................................... 17 Fundraising ............................................................................................................................................................................ 17 Whistleblowing policy ....................................................................................................................................................... 18 Child safeguarding ............................................................................................................................................................... 18 Equal opportunities ............................................................................................................................................................ 18 Anti-bribery, anti-corruption and anti-fraud policies .......................................................................................... 18 Independent Examiner ...................................................................................................................................................... 18

www.causeway.education

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Financial review ............................................................................................................................................................................. 19 Risks & uncertainties .............................................................................................................................................................. 19 Reserves and reserves policy .............................................................................................................................................. 19 Going concern ............................................................................................................................................................................ 20 Independent examiner’s report to the members of Causeway Education ............................................................ 21 Causeway Education Statement of financial activities ................................................................................................... 21 For the year ended 31 March 2024 .............................................................................................................................. 22 Causeway Education Statement of financial position .................................................................................................... 23 As at 31 March 2024 ........................................................................................................................................................... 23 Causeway Education Statement of cash flows ................................................................................................................. 24 For the year end 31 March 2024 ................................................................................................................................... 24 Notes to the accounts ................................................................................................................................................................... 25 1. Accounting policies ........................................................................................................................................................ 25 1.1 Going concern ................................................................................................................................................................ 25 1.2 Public benefit entity .................................................................................................................................................... 25 1.3 Incoming resources and funds ................................................................................................................................ 25 1.4 Support costs .................................................................................................................................................................. 25 1.5 Fixed assets ..................................................................................................................................................................... 26 1.6 Corporation Tax ............................................................................................................................................................ 26 1.9 Fund accounting............................................................................................................................................................ 26 1.10 Expenditure and irrecoverable VAT .................................................................................................................. 26 1.11 Debtors ........................................................................................................................................................................... 27 1.12 Cash at bank and in hand ........................................................................................................................................ 27 1.13 Creditors ........................................................................................................................................................................ 27 2 Statutory information and status of the charity .................................................................................................. 27 3 Income from charitable activities.............................................................................................................................. 27 4 Programme costs.............................................................................................................................................................. 28 5 Support and general costs ............................................................................................................................................ 29 6 Governance Costs ............................................................................................................................................................. 29 7 Employee information ................................................................................................................................................... 29 8 Debtors ................................................................................................................................................................................. 31 9 Creditors .............................................................................................................................................................................. 31 10 Analysis of the fund position: unrestricted funds (Current year) ............................................................. 32 10b. Analysis of the fund position: unrestricted funds (Prior year)............................................................... 32 11 Analysis of the funds position: restricted funds (Current year) ................................................................ 32 11b. Analysis of the funds position: restricted funds (Prior year) .................................................................. 32 12 Analysis of net assets (Current year) .................................................................................................................... 33 12.b Analysis of net assets (Previous year) .............................................................................................................. 33 13 Pension obligations ...................................................................................................................................................... 33

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14 Related party transactions ........................................................................................................................................ 33 15 Reconciliation of net income / (expenditure) to net cash flow from operating activities .............. 34 17 Share capital .................................................................................................................................................................... 34

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2023-2024 Highlights

Supporting young people to overcome barriers in accessing higher education, apprenticeships and early careers

OUR SUPPORT IS HIGH-QUALITY AND PRACTICAL

In the past year we have

Delivered high quality workshops to 3,273 professionals

and

Delivered practical support through masterclasses, 18,866 young people mentoring and online tools to

WE ARE COLLABERATIVE AND EVIDENCE-LED

We led a consortium of 3[rd] sector organisations to deliver the Royal Academy of Engineering’s Graduate Engineering Engagement programme, supporting hundreds of graduates across the country on the first steps in their Engineering careers.

We collaborated with researchers at UCL to develop a new approach for evaluating the effectiveness of HE applicant support systems in schools and colleges, through “undermatch” analysis. This included creating a new prototype tool for checking the academic match of individual students in relation to specific HE courses.

Further information on our impact and achievements can be found on pages 11-16.

We exist to make sure that progression is not determined by privilege

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Company information

Trustees

Registered office

Causeway Education Second Floor 168 Shoreditch High Street London E1 6RA

Independent Examiners

Lucy Hammond Kreston Reeves Second Floor 168 Shoreditch High Street London E1 6RA

Bank

Unity Trust Bank 4 Brindley Place Birmingham B1 2JB

Directors and key personnel

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Trustees’ report

Our mission

Supporting young people to overcome barriers in accessing higher education and apprenticeships.

We exist to make sure that progression is not determined by privilege.

With the right support in exploration, choices and applications, all young people can find and realise their ambition. In our unequal society, some young people face far greater challenges than others in accessing higher education. Dedicated teachers, advisors and outreach professionals work tirelessly on redressing these inequalities. We are there for all those confronting these barriers, helping to bring about:

1. Expert support

We give teachers the skills and resources they need to ensure all their students can navigate HE applications effectively.

2. Transformational outreach

We help universities, charities and corporates to develop initiatives which inspire and equip participants to take their next steps.

3. Outstanding applications

We support students directly, providing impactful workshops and mentoring to help them successfully clear the hurdles of a complex application process.

Public benefit statement

The only objects for which the Charity is established are for the public benefit to promote the education of people under the age of 25 in the UK in particular but not exclusively by increasing the chances of students accessing higher education, further training, apprenticeships and careers.

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Our values

Our work is:

1. High-quality

Our impact is greatest when the quality of our work is highest.

2. Collaborative

Our mission is shared by a vast range of individuals and organisations – through supporting each other we can reach more individuals with higher quality interventions.

3. Practical

Take-up of our support is greatest when it is easy to implement.

4. Evidence-led

The best solutions build on the greatest accumulation of insights

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Our key programmes

Our work at Causeway falls into three main strands:

1. Training, research and consultancy for teachers and outreach professionals at universities, charities and employers

2. Workshops and mentoring for students

3. Practical resources

Our key programmes in each of these areas are outlined below.

Training, research and consultancy

CEC Careers Leader Course

In partnership with The University of Wolverhampton and Complete Careers, we continue to deliver a Level 7 accredited training for senior careers leaders. Participants range from senior leaders at schools, colleges and alternative provision, to those with responsibility for careers across Multi Academy Trusts. The training supports participants to identify and lead change in a key area of practice, using careers education as a lever for whole-institution improvement

Sutton Trust Teacher Champions

The programme supports schools and 6th form colleges to increase progression to competitive HE courses through an annual series of best-practice webinars. These focus on enhancing ongoing systems of support for students and have been distilled from analysis of relevant research, as well as Causeway’s extensive experience in this area.

The Sutton Trust were pleased with how the 2023/24 cycle went. They felt that the format worked well and confirmed that they had received consistently good feedback from participants.

Following a review of participant feedback and looking ahead to the following year, it was agreed that 1-page summary documents would be produced by Causeway and provided to supplement the distribution of PowerPoints and session recordings.

Student workshops and mentoring

Application Mentoring

Our Application Mentoring supports students through the admissions process to Higher Education, particularly in the last, most decisive stages. Students follow subject-specific pathways developed by academics and teachers and get support from an expert mentor trained in applications. We deliver the programme for a number of partners, including the Sutton Trust and Wadham College, Oxford.

Offer-holder support/tutoring

A growing strand of our work is supporting university offer-holders in their final year of school/college, before they transition to university. In 2023-24, we delivered the offer-holder tutoring programme for Lucy Cavendish College, Cambridge, for the third year. Year 13 students were given regular academic tutorials online to help them excel in their current studies and prepare for the academic level required at university. They also benefitted from meeting potential future peers in these tutorials and developing a sense of cohort before the start of term.

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2023-24 saw us begin a pilot version of offer-holder tutoring in partnership with the University of Bristol.

A&O Shearman Smart Start - Smart Start Week & Smart Applications

Smart Start continues to be hugely popular, receiving almost 400 applications.

Causeway Education are now responsible for the full project cycle across both programmes and their components. This includes managing student recruitment and support, as well as the design and delivery.

Whilst Smart Start Week involves the final cohort attending A&O Sheaman’s London office for 5 days, Smart Applications is an 8-part webinar series, which was originally designed during the height of the pandemic.

Access Ashurst

We continue to deliver workshops on personal statements and the LNAT as part of the Access Ashurst work experience scheme.

Janus Henderson Scholarship

We provide support for Janus Henderson’s Scholarship UK programme. Students from social mobility backgrounds who have an interest in pursuing a career in asset management/finance attend industry insights and transition support webinars before receiving a £2000 grant over the course of their first year at university. Causeway Education provide ongoing support, in the form of scheduled check-in calls. Off the back of the successful pilot, Janus Henderson now provide the scholars with better access to networking opportunities and have rolled out a mentoring programme that they can also register for.

Watson Farley & Williams (WFW) – Introduction to City Careers – Insights Workshops

Causeway Education supported WFW with the delivery of insights workshops designed to introduce Year 12 students to career opportunities in the city. The objectives of the workshops were to broaden the diversity of WFW’s talent pools and ‘spark’ an interest in participants to pursue a career with WFW in the future. The workshops took place across two days days in person, at WFW’s office in 2023.

As part of this work, Causeway provided the following support:

Resources

OSCAR

OSCAR (Online System for Completing Applications & References) is our online platform which has been designed with outstanding university applications in mind. OSCAR (which continues to be a sector leader) supports students to develop competitive, subject-focused personal statements and teachers to produce effective references. It allows students to submit drafts of their personal statement for review and teachers or mentors to submit line-by-line feedback and comments. OSCAR is a free tool available to all state schools in the UK.

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Key achievements in the year Training, research and consultancy

Sutton Trust Teacher Champions

For the fourth year, we successfully delivered the programme as a national online scheme. In collaboration with the Sutton Trust, we achieved:

Student workshops and mentoring

Smart Start

We worked with A&O Shearman (previously Allen & Overy), to deliver the Smart Start work experience programme and Smart Applications (the online alternative programme that was originally designed during the height of the pandemic).

The in-person week was refined to provide the participants with clearer skills-based areas of focus, whilst still providing participant with insights into ‘city’ careers through a combination of workshops, talks and scenario-based group challenges.

Prior to the week itself, we piloted a ‘drop in call’ approach to provide prospective members of the cohort with further opportunity to raise issues/concerns in good time. Additionally, we produced an overview video for prospective volunteers from the firm, to provide them with further context about overall aims and format of the programme, as well as an explanation of the importance of their role.

Smart Applications (the online alternative programme) had more volunteers from the firm contributing to the online webinars than previous years, with 161 participants in comparison to 105 the previous year.

Sutton Trust Online

We delivered a series of 38 live webinars on personal statements, admissions tests and interviews to 850 students on the Sutton Trust Online platform.

Offer-holder support

Building on the previous design and delivery of ‘offer-holder support’ in the form of a webinar series, we partnered with the University of Bristol again to pilot a version of the online tutoring approach delivered with Lucy Cavendish College. The remit was to provide Maths tutoring to offer-holders that met the criteria for one of their key target groups (based on being statistically less likely to achieve the required grades in Maths).

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Resources OSCAR

We have made various improvements to the OSCAR platform. Most notably, this includes a new reference tool that allows teacher users to create outstanding references in accordance with the new UCAS reference format and facilitates the easy coordination of that process at a school-wide level. Ongoing quality assurance of modules and pathways, alongside the addition of new personal statement pathways for Data Science and Theology, formed part of a series of incremental improvements to existing resources.

Impact highlights from FY 2023-2024

Application Mentoring

95% of our 2023-24 cohort rated the feedback and guidance that they received as helpful or very helpful. 96% felt confident that they’d written a high-quality personal statement.

Smart Start 2023

“It is a great opportunity to meet new people and gain insight to a city law firm giving the opportunity to step out your comfort zone and develop skills.”

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“This opportunity has provided so much more than I was expecting and has been such a good chance to network, make new friends and learn in a great environment.”

“This experience will be very challenging but also very rewarding. You will get a much better understanding of what you can expect in an international law firm or for any career, whilst also simultaneously developing and enhancing the transferable skills needed to succeed in any career. Furthermore, there have been a lot of networking opportunities, both with A&O staff and volunteers and the rest of your cohort. I would highly recommend it if this intrigues you.”

“I liked witnessing their intellect and their passion for law. I really liked asking different professionals how they got into the legal sectors as there was various answers. I would say my favourite part of working with volunteers was the fact that I had a chance to work with them like I would in a legal career it made the experience feel so real and it has made me feel so confident and secure in my choice to enter the legal sector.”

“It definitely challenged me and put me out of my comfort zone, but the best thing was that I wasn't alone. My team and I almost became like a family at the end of it because we managed to overcome all the difficult tasks together, and I am very grateful for the experience. Thank you.”

“Honestly such a new and exciting yet scary experience especially since I’m not from London and having to travel into and navigate my way around such a busy area was insightful as well as meeting all the volunteers who showed there is more to being a lawyer and that there are several different routes regardless of qualifications or expectations because there is always a chance somewhere and you can gain it all along the way, especially learnt that research is key.”

Lucy Cavendish Offer-holder tutoring 2023

“The A-level exam support was, in my view, crucial to me attaining my offer, and my tutor also gave me excellent advice for language study in general and language study at university.“

“Access to info on how to write strong essays and the tailored and personal feedback from the tutor which was always useful.”

“The help and slow transition to more university style work - the ability to ask questions in small groups and receive direct feedback - it also helped with a levels in some ways which was useful in quelling anxieties.”

“these sessions really helped me feel confident about the upcoming uni year, especially as someone from a state school. Thank you!”

“Thank you for the support programme- I found it to be an incredibly helpful and academically enriching programme. It has made me feel more ready to start university.”

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Reach for financial year 2023-24

Project Schools
direct reach		 Professional
s direct
reach		 Students
direct reach		 Professional
s indirect
reach		 Students
indirect
reach
Application
Mentoring		 0 152 1,096 0 0
Offer holder
support		 0 0 139 0 0
OSCAR for schools 82 1,632 13,664 0 0
Resources, training
& consultancy		 0 1,470 0 480 84,600
Smart Start 0 3 1,710 0 0
Student workshop
(employers)		 12 16 1,582 0 0
Student workshop
(school)		 1 0 115 0 0
Student workshop
(university)		 0 0 118 0 0
Undermatch 4 0 22 0 0
Other events &
small projects		 6 0 420 0 0
Grand totals 105 3,273 18,866 480 84,600

Notes:

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How we are funded

Causeway’s funding comes from a large range of partners. Our largest single funder is The Sutton Trust, funding various programmes. These included Teacher Champions, Application Mentoring, and the Online digital platform tool.

Future strategic plans

Our key focus remains the achievement of systemic change in schools and colleges. We want to develop and embed better systems of support for students so that both current and future cohorts can overcome barriers to accessing Higher Education, apprenticeships and early careers. We are in the second stage of a five-year plan to refine our operations by using a new school/college-based metric to target our work and maximise our impact. This involves the following stages:

Stage 1 (FYs 2020-21 and 2021-22)

During this stage we researched and developed a new impact metric based on school/college-level progression data to post-18 destinations. At the same time, we broadened the number of partners we work with on student-facing projects, particularly employers, to ensure a more stable income base.

Stage 2 (FYs 2022-23, 2023-24 and 2024-25)

During this stage we are piloting our new impact metric and seeking funding to implement it at scale. The first stage has involved testing in a small number of schools, where we have been able to identify those groups at highest risk of poor outcomes, and the key points where intervention is required. We are now working on establishing a full pilot both to validate the model with wider range of schools and refine the interventions. Following this, we will scale up the work to reach all schools and colleges in greatest need with a refined support offering. Through this, we aim to deliver systemic change across the schools and colleges serving young people who face the greatest barriers in accessing Higher Education and apprenticeships.

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How we manage our affairs

Trustees

Causeway Education is a charitable company limited by shares, incorporated on 29 September 2014 and registered as a charity in England and Wales on 11 October 2017.

The company was established under a memorandum of association detailing its objects and powers and is governed under its articles of association by a Board of Trustees.

The Board’s work incudes critical analysis of the strategic plans and agreeing our financial plan. The Board acts on advice and information from regular meetings with the Senior Management Team. They are also responsible for management of the Chief Executive Officer.

All our trustees give their time voluntarily and receive no benefits from the organisation. Any expenses reclaimed from the charity are set out in note 6 to the accounts.

In 2023-24 the Board had four meetings. Each meeting has a set agenda that usually involves, but not limited to, reviewing Charity performance, strategy, policy and the organisations risks and mitigating actions.

Appointment of Trustees

The appointment of trustees is governed by our Articles of Association. Our trustees are also directors of Causeway Education for the purposes of company law.

Trustee induction and training

We make new trustees aware of their legal obligations under charity law and company law. Our induction programme for new trustees includes an overview of our decision-making processes, our strategic aims, and our recent performance. As part of our safer recruitment processes we ensure trustees have an enhanced DBS, provide two references and take online safeguarding training. Trustees are invited to see our programme delivery in action. We involve trustees in specific pieces of work depending on their interests and expertise. They are also invited to specific Trustee related training courses run by external suppliers.

Trustee decision making

Pay policy

Our trustees are responsible for the annual salary review for staff in the organisation on recommendation of the Senior Management Team, at which pay is normally increased in line with annual inflation (RPI). Trustees review and approve appointment salaries and salary increases for senior staff; appointment salaries and salary increases for junior staff are reviewed and approved by the senior management team. Recruitment panels for senior management must include at least one trustee

We have a formal pay policy that covers the pay of individual roles as well as the individuals within the roles to ensure fairness, transparency and stability across the organisation.

Trustee responsibilities

Our trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires our trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

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

Shareholders of the charity will lose their shares in the event of the charity winding up. The total number of such guarantees at 31 March 2024 was 10 (2023: 7). The trustees are shareholders of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity and this is monitored by each board member completing their declarations of interest.

Compliance information

Data protection

Our policies and procedures are robust and we meet the General Data Protection Regulation, in effect from May 25 2018. We are registered with the Information Commissioner’s Office.

Fundraising

We comply with all relevant statutory regulations and with a range of codes of practice and standards. We are members of the Institute of Fundraising and are registered with the Fundraising Regulator. We are committed to best practice and to responding to and learning from any complaints we receive; our complaints procedure is published on our website. Our fundraising promise, also published on our website, is to

We do not use volunteers to fundraise, and we do not fundraise from members of the public.

Whistleblowing policy

Our whistleblowing policy protects anyone who discloses concerns from discrimination.

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Child safeguarding

All staff, volunteers, contractors, and third-party organisations with whom we partner are bound by our Child Safeguarding policy and procedures. All staff, contractors and volunteers are required to complete child safeguarding training as part of their induction. We publish our Child Safeguarding Policy on our website and have a dedicated e-mail address to which concerns can be reported.

Equal opportunities

We are committed to the principle and practice of equal opportunities in employment, recruitment, and programme delivery.

Anti-bribery, anti-corruption and anti-fraud policies

Our Anti-Bribery and Anti-Corruption policy and our Anti-Fraud policy and related procedures ensure that we have controls and processes designed to prevent and detect fraud and dishonesty. We investigate any allegations that arise and take appropriate action where needed.

Independent Examiner

Lucy Hammond of Kreston Reeves LLP is the charitable company's independent examiner and has expressed her willingness to continue in that capacity.

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Financial review

This year, the charity has expanded the number of partners we work with, further strengthening our income base. Costs have increased from the previous year (as expected and in line with budget) due to addressing previous understaffing and in order to deliver the projects we are securing. Revenue has increased from the previous year, leading to a small surplus.

Income has increased from £711k to £798k, a 12% increase. The proportion of our total income which comes from The Sutton Trust reduced from 31% to 28%, and the proportion of our income which comes from Allen and Overy reduced slightly at 14%.

Expenditure has increased by 11%, from £715k to £793K.

Risks & uncertainties

Our trustees are responsible for ensuring proper risk management processes are in place. A formal risk register has been formulated and agreed, and trustees discuss risks and uncertainties at each trustee meeting.

The trustees consider that the most significant risks facing the charity are:

Reserves and reserves policy

Reserves have increased slightly from £213k, to £218K. The total funds of the charity, excluding the share capital, have been classified as either Unrestricted or Restricted funds.

All unrestricted funds are free reserves to be used at the trustees’ discretion to take advantage of opportunities or to mitigate against negative financial impact of unforeseen events. As at the end of the financial year, these stood at £51k, (2023: £35k).

Restricted funds, which are not available for general purpose, have decreased to £168k, (2023: £177k). Further details of the restricted funds can be found in note 11.

The charity has no investments or tangible fixed assets.

The reserve policy of the charity is to maintain available funds above a level equal to three months of overheads, with cash flow forecasts being monitored regularly. This usually equates to approximately £100,000. If within three months the available funds are due to fall below this safe level, an extraordinary meeting of the Trustees is called to decide if any immediate actions are required. At 31[st] March 24, reserves are above the level required by the policy as funding has been received that will be paid to suppliers in the next financial year.

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Going concern

The Charity has £218k in reserve and with plans to maintain a comfortable surplus in the coming year.

The trustees’ annual report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 17 December 2024 and signed on their behalf by

Iain Littlejohn

Causeway Education – Chair of Trustees

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Independent examiner’s report to the members of Causeway Education

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 22 to 34.

Responsibilities and basis of report

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

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

Independent examiner’s statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

Signed:

17 December 2024 Lucy Hammond BSc FCA

Kreston Reeves LLP Chartered Accountants Second Floor 168 Shoreditch High Street London E1 6RA

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Causeway Education Statement of financial activities

For the year ended 31 March 2024

----- Start of picture text -----
Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2024 2024 2024 2023 2023 2023
Notes £ £ £ £ £ £
Income from charitable activities:
Resources 3 167080 167080 60177 60177
Training, Research and Consultancy 3 81088 81088 146194 11618 157812
Student Delivery 3 325248 223513 548761 242730 248825 491555
Other Income 3 1226 1226 1192 1192
Total Incoming Resources 574643 223513 798155 450293 260443 710736
Expenditure from:
Direct Programme Costs 4 -107391 -68813 -176204 -88725 -75078 -163803
Staffing Costs 4 -329091 -125276 -454368 -289845 -124481 -414326
Other Costs 5 -61292 -38818 -100110 -41974 -39912 -81886
Total cost of charitable activities -497774 -232907 -730682 -420544 -239471 -660015
Raising Funds:
Research Costs 5 0 0 0 0
Fundraising activities 5 -62034 -62034 -55341 -55341
Total Resources Expended -559809 -232907 -792716 -475885 -239471 -715357
Net Income for the year 14834 -9395 5439 -25592 20972 -4620
Transfers between funds 0 -4259 4259 0
Net Movement in Funds 14834 -9395 5439 -29851 25231 -4620
Reconciliation of funds:
Total funds brought forward 35907 177472 213379 65758 152241 217999
Total funds carried forward 50741 168078 218819 35907 177472 213379
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year.

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Causeway Education Statement of financial position

As at 31 March 2024

2024 2023
Notes £ £
Current Assets
Debtors 8 90,254 131,504
Fixed Assets - -
Cash at bank and in hand 15 381,644 181,528
471,898 313,032
Creditors: Amounts falling due with oneyear 9 (253,069) (99,643)
Net Assets 218,829 213,389
Unrestricted Funds 10 50,741 35,907
Restricted Funds 11 168,078 177,472
Share Capital 18 10 10
Total Funds 218,829 213,389

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the trustees on 17/12/2024 and signed on their behalf by Iain Littlejohn

Causeway Education – Chair of Trustees

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Causeway Education Statement of cash flows

For the year end 31 March 2024

Notes
Net cash used in operating activities
15
Interest
Net cash from investing activities
Change in cash and cash equivalents
Cash brought forward
Cash carried forward
16		 2024
£
198,890
1,226
1,226
200,116
181,528
381,644		 2023
£
(47,272)
474
474
(46,798)
228,325
181,528

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Notes to the accounts

1. Accounting policies

These accounts have been prepared in accordance with “Accounting and Reporting by Charities” the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102), effective 1[st] January 2019. The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. The charitable company’s accounts are prepared in British Sterling and rounded to the nearest Pound.

1.1 Going concern

At the time of approving the accounts, the trustees believe that Causeway Education has adequate recourses to continue trade into the foreseeable future. These accounts have therefore been prepared on a going concern basis. The trustees have reviewed the accounts, funding and liquidity of the charity and agree that there are no material uncertainties that prevent it operating.

1.2 Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

1.3 Incoming resources and funds

All income in the accounts is recognised if the charity has entitlement to the funds; it is probable that the income will be received; and the amount can be measured reliably.

Income is assessed as either unrestricted- and can be used at the discretion of the trustees to further the charitable objectives-or restricted-and subject to specific conditions by funders as to how it is used. Expenditure attributable to these resources is charged to the funds.

Income should be recognised in year received or receivables, whichever is earlier, unless funder specifies for future financial period, in which case it is deferred.

1.4 Support costs

Support costs are those functions that assist the work of the charity but do not directly influence charitable objectives. These may include but are not limited to finance, office costs, payroll and governance. Agreements with funders mostly have a support cost allocation included and therefore these accounts include this allocation where applicable and charged to the appropriate fund.

Most of the employees of the charity can and have been allocated to the programme that they predominately support.

Remaining support costs are re-allocated to each of charitable activities based on the size of the corresponding activity.

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1.5 Fixed assets

It is the policy of the charity that any assets purchased over the value of £5,000 will be capitalised.

As at 31 March 2024, there have been no assets purchased over £5,000 and therefore currently the Charity has no fixed assets.

1.6 Corporation Tax

Causeway Education became a charity in October 2017. The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.7 Financial Instruments Policy

The charitable company only has financial assets and 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.

1.8 Pension Policy

The charitable company offers a defined contribution pension scheme, and the pension charge represents the amounts payable by the charitable company to the fund in respect of the year

1.9 Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

1.10 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.

Expenditure is recognised on an accruals basis as a liability incurred, including any VAT which cannot be fully recovered.

Fundraising is the costs of raising funds related to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Expenditure on charitable activities includes the costs of delivering the Access Champions and other programmes undertaken to further the purposes of the charity and their associated support costs.

Research and Policy is the costs associated with evaluation of the work being done by the charity and to influence government policy to further the work of Causeway Education.

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

1.11 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.

1.12 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. Cash is also held by an outside company for the purposes of loading onto prepaid corporate cards to be used by employees for general expenses, these funds are also included.

1.13 Creditors

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

A doubtful debt provision has been made on a case-by-case basis depending upon the likelihood of receipt and age of debt.

2 Statutory information and status of the charity

Causeway Education is a registered charity limited by shares and is incorporated in England. Its registered office and principal place of business is Second Floor, 168 Shoreditch High Street, London E1 6RA

3 Income from charitable activities

Unrestricted
Funds
Restricted
Funds
Total
Funds
Unrestricted
Funds
2024
2023
Restricted
Funds
Total
Funds
2023
2024 2024 2023
£ £ £
£
235,062
37,581
104,883
90,460
143,936
87,760
299,810
221,765
7,299
3,754
5,940
7,782
-
717
1,226
474
-		 £ £
238,695
149,789
87,760
221,765
3,754
7,782
717
474
-
Trusts and Foundations 22,649 212,413 201,114
Universities 93,783 11,100 59,329
Statutory 143,936
Private Sector 299,810
Schools and Colleges 7,299
3rd Sector 5,940
Other Income
Bank Interest 1226.14
Total 574,643 223,513 798,155
450,293		 260,443 710,736

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4 Programme costs

Included within programme costs is restricted expenditure of £232,907 split between The Sutton Trust Summer Provision. Application Mentoring UCL and Sutton Trust Teacher Champion Programmes

Staffing
2024		 Staffing
2024		 Direct Programme
Costs
Total
2024
Programme
£		 £
£
£		 £
Sutton Trust Summer Provision (94,859) (62,624)
(31,497)		 (188,980)
Application Mentoring UCL
(22,463)
Sutton Trust - Teacher
Champions
(7,955)
Other Programmes		 (5,839)
(5,660)
(350)
(1,661)
(107,391)
(390,383)		 (33,962)
(9,966)
(497,774)
Total
(125,276)		 (176,204)
-
(429,201)		 (730,682)

The Charity received no benefits in kind for the Financial Year 2023-24.

Programme costs (Prior Year)

PRIOR YEAR
Staffing Freelancers Direct
Costs
Support
Allocation
Total
#
2023
2023 2023 2023 2023
Programme £ £ £ £ £
(142,119)
(77,863)
(19,489)
(420,544)
(660,016)
Sutton Trust Summer Provision (67,384) (51,048) (23,687)
Application MentoringUCL (40,981) (23,905) (12,977)
Sutton Trust - Teacher Champions (16,116) (125) (3,248)
Other Programmes (84,325) (4,400) (331,819)
Total (124,481) (159,403) (4,400) (371,731)

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5 Support and general costs

Staffing Other Total
Staffing		 Total
Staffing		 Total
Staffing		 Other Total Total
2024 2024 2024 2023 2023 2023
Support and General Costs £ £ £
£
(123,952)
(99,109)
(69,398)
(37,278)
-
(235,852)
(153,458)		 £ £
(111,117)
(73,227)
-
(187,387)
Executive, Governance and Finance (110,383) (13,568) (12,008)
IT, Communication and Evaluation (41,934) (27,464) (35,949)
Overheads
General Programme Costs (176,775) (59,077) (33,929)
Support Total (329,092) (100,110) (429,201)
(289,845)		 (81,886) (371,731)
-
(62,034)
(55,341)		 -
(55,341)
Research & Policy
Fundraisingactivities (62,034)
Grand Total (391,126) (100,110) (491,236)
(345,186)		 (81,886) (427,072)

6 Governance Costs

Total Total
Stated after charging: 2024 2023
£ £
Independent Examination Fee (2,430) (1,560)
Trustees Expenses - -
Operating Lease on property - -

7 Employee information

Total Total
2024 2023
Raising Funds 1 1
Charitable Activities 12 9
Support (Including Governance) 2 2
Average Employees 15 12
Staff Costs Including directors' remuneration Total Total
2024 2023
£ £
Wages and Salaries (458,308) (404,396)
Social Security (33,439) (39,736)
Pension (23,640) (22,817)

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Total (515,388) (466,949)

The total number of employees whose emoluments (salaries, wages and benefits in kind) fell within the following bands

Total Total
2024 2023
£ £
£80,000 - £89,999 1 1
Total 1 1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £98,640. (2023: £99,108).

There were no redundancy costs in the year. (2023: £0)

The charity trustees have not received any remuneration.

There were no expenses paid to Trustees’ (2023: £0).

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8 Debtors

Total Total
2024 2023
£ £
Trade Debtors 60,719 89,602
Accrued Income 29,535 31,416
Other Debtors (suspense account and The Office for Students) 10,487
Total 90,254 131,504

9 Creditors

Total Total
2024 2023
£ £
Trade Creditors (3,193) (726)
Other Creditors (43,725) (47,679)
Deferred Income (3,401) (38,656)
Staff Expenses 0 0
Suspense (RAE GEEP) (200,321)
Accruals (2,430) (12,582)
Total (253,069) (99,643)
Deferred Income Breakdown
Deferred Income Brought Forward (38,656)
Deferred Income Released in Year
50,832
Income Deferred in Year (15,576)
Total Deferred Income (3,401)

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10 Analysis of the fund position: unrestricted funds (Current year)

Opening Income Expenditure Transfers Movement Closing
Balance in Year Balance
£ £ £ £ £ £
General Fund 35,907 574,643 (559,809) - 14,834 50,741
Total 35,907 574,643 (559,809) - 14,834 50,741

10b. Analysis of the fund position: unrestricted funds (Prior year)

Opening Income Expenditure Transfers Movement Closing
Balance in Year Balance
£ £ £ £ £ £
General Fund 65,758 450,293 (475,885) (4,259) (29,851) 35,907
Total 65,758 450,293 (475,885) (4,259) (29,851) 35,907

11 Analysis of the funds position: restricted funds (Current year)

Opening
Income		 Expenditure Transfers Movement Closing
Balance in Year Balance
£
£		 £ £ £ £
Academic Apprenticeship 2,687 - 2,687
Application Mentoring UCL 0
11,100		 (33,962) 22,862 0 0
Sutton Trust - Teacher
Champions		 32,257
10,165		 (9,966) 199 32,457
Sutton Trust - Summer Provision 142,528
202,248		 (188,980) (22,862) (9,594) 132,934
Total 177,473
223,513		 (232,907) - (9,395) 168,078

11b. Analysis of the funds position: restricted funds (Prior year)

Opening
Income		 Expenditure Transfers Movement Closing
Balance in Year Balance
£
£		 £ £ £ £
Academic Apprenticeship 2,687 - - 2,687
Application Mentoring UCL 14,275
59,329		 (77,863) 4,259 (14,275) 0
Sutton Trust - Teacher Champions 40,128
11,618		 (19,489) (7,871) 32,257
Sutton Trust - Summer Provision 95,151
189,496		 (142,119) 47,377 142,528
Total 152,242
260,443		 (239,471) 4,259 25,231 177,473

Purpose of Restricted Funds

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The purposes of the above funds are to provide monies to run each of the programmes. Each of the programmes have a separate agreement and run past 31 March 2024 into the new financial year and beyond. Further information on the purposes of the programmes can be found in the annual report on page 6.

All the restricted funds are linked to the charitable objectives of the organisation which is improving the life chances of children and young people in the UK by supporting them and their influencers through key educational transitions.

The balances of the Pathways to Law and Teacher Summer Schools funds were moved to become part of the current programmes, Sutton Trust – Teacher Champions and Sutton Trust – Summer Provision.

No restricted funds ran into deficit to 31 March 2024.

12 Analysis of net assets (Current year)

Unrestricted Fund Restricted Funds TOTAL
£ £ £
Cash at bank and in hand 213,566 168,078 381,644
Other net current assets /(liabilities) (162,825) (162,825)
Creditors of more than oneyear
TOTAL 50,741 168,078 218,819

12.b Analysis of net assets (Previous year)

Unrestricted Fund Restricted Funds TOTAL
£ £ £
Cash at bank and in hand 4,056 177,472 181,528
Other net current assets /(liabilities) 31,851 31,851
Creditors of more than oneyear
TOTAL 35,907 177,472 213,379

13 Pension obligations

The Charity has a defined contribution pension scheme where both the employee and employer pay contributions every month in the employees’ pension.

The amount owed to the pension scheme was £12,914 (2023: £8,038). There are 9 employees enrolled on the pension scheme.

14 Related party transactions

During the year, the charity received income of £Nil (2023: the charity received income of £7,500 from “The Fair Education Alliance” of which N Perera is also a trustee) No amounts were outstanding at year end. There were no other related party transactions during the period.

No expenses were reimbursed to trustees during the year.

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15 Reconciliation of net income / (expenditure) to net cash flow from operating activities

activities
Total Total
2024 2023
£ £
Net income / (expenditure) for the reporting period 5,439 (4,620)
Interest (1,226) (474)
(Increase)/decrease in debtors 41,250 (46,834)
Increase/(decrease) in creditors 153,427 4,656
Total 198,890 (47,272)

16 Analysis of cash and cash equivalents

16 Analysis of cash and cash equivalents
Total Total
2024 2023
£ £
Cash at bank and in hand 380,349 179,621
Prepaid Cards 1,295 1,907
Petty Cash 0 0
Total 381,644 181,528

17 Share capital

The Charity is a private company limited by shares. The Charity has 10 £1 shares which have been partly paid, with the shares held by the Trustees of the Charity.

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