TFFr" ILaa% TF I-:H TeenTech Charity (Reglstered charlty and Charltable company LlmltÈd bv Guarèftteel Trustee report and unaudlted Flnanclal Statements for the year ended 30 September 2024 TEENTECH CHARITY CONTENTS OF THE FINANCIAL STATEMEKr for the Year Ended 30 September 2024 CONTENTS PAGE Legal •nd 4dmln15tratl¥e detalls R•port of th• Twrt*•$ 4t017 Independ¢nt EM•mlne#'s Report 18 statemwrt of Iln•n¢lo1 ArtMtle5 19 Bala￿e Shwt 20&21 Not•s to th• Flnan¢lal St•t•m•nts 22to28 Page | 2 TEENTECH CHARITY LEGAL AND ADMINISTRATIVE DETAILS for the Year Ended 30 Septernber 2024 Governlni document: The charity is controlled by it5 governing document, the memorandum 4nrt artlcles, and constltures a company Ilmlted by guarantee, as defined by the Companies Act 2006. TIu5tees Includlng any office held Ms K 6evan •nd dates acted11 not lor whole Ms D Burnslde vear: J Constable Ms S Cooper M5 E K35slm-Lakha C Lynch A Moore Ms M E Phllbln ICEOI Ms C Scull Ifeslgned Oecember 20231 D Thomson B Walker A Wllson (Chalrl 8 Shelton Iresl8ned 21" May 20241 M Philbin lappolnled 26¢h May 20241 Crown House 27 Old Gloucester Street London WCIN 3AX S•cr•tary: Re8lster¢d Offl¢e: Re8lslered Company number: 11587837 Re8l$leied Charlty Number: 1182557 Ind•p•nd•nt EKamlner: Arvlnd Joshl FG4.cfA, DChA Le￿ + Poriners Llmited Charttred Accountants 7-8 RSti Parade Western Avenue London WS 3RA Page13 TEENTECH CHARITY TRUSTEE REPORT for the Year Ended 30 September 2024 The director5 of the charltable tDmpany I'the charity") are its Trustees for the PUfPOSe ol chartty law and throughout this report are collectively ieferred tD as its Trustees. The Trustees preseni thelf re.port together with the financial statements for the year ended 30 September 2024. The linanclal siatemen15 comply with the Chaiili¥s Act 2011, the Stateryieril o( Recommended Practice for Ch3rille5 150RP 20151 Isecond Edition, effective l Janudrw 20191 and the Financial Reporitn8 Srandard pplicable In ihe UK and Republic of Ir*land IFRS 1021. STRUCTURE, GOVERNANCE AND MANAGEMENT TeenTech Charity is a re815tered chacity ionstituted as a company limlied by 8u3rantoe, Tegi5tored wlth the Charities Commission In March 2019 and governed by its Memorandum and Artlcle5 01 Association. The thaiity has no share capilal and in the event of liquldation or being wound up the Siablliiv of Its Trustees is lirriled to £1. The thJr1ty owns 4 nnri-prolii Ir¢idin8 SLJbsidiary ¢ompony limited by 8uaranl*e 'TeenT￿ch CIC (company number 077649301. The subsldlary was previously the operational organ55ation Irom 2011 uniil 30" April 2021, when the a55Qtg and operations were moved across io TeenT¢ch Charity and TeenTech CIC became the rrading subsldiary ol TeenTech Chi?rify. The subsidlary gilts all profits io rhe Charilv. On reglslratlon ol the charily, the trustees agreed that Maggie Philbin, a fellow trustee, should be appolnted a5 Chief Execuilve Ofllcer ICEOI of the Company, and should recelve remuneratlon for her cimploymcnt in thls capacily. as cMprcs51y pciiniltod by Arlicle 71211.11 ol the Coi))Pill)y's Articles ol AssD¢lation Iihe 'Articles'l. As rellecled in Ihe contract ol employmenl, the CEO'S role is io act as ambassador for TeenTe¢h, providln6 the publit face of the organls311on, includlng leadln8 prjgrammes and hosting a15 slgniflcant events as well as bulldin8 relatlDnship5 With sponsors and oihor supportln8 or8anSsJllons, 5chocl5, delivory partners and polentlal fL¥nders. Worklng closely wiih the irustees, she develops TeenTech's loThg-term strategy. budget and business plan and ensures il complies wSth all relevant laws arno regulations, The trustees continue to believe the role of Mar83ret Philbln as CEO a5 well as trustee, is in the best interests ol the charity because She brin85 a unlquE Set of inslghls, 5kll15 and experlence, Industry knowledge and contficls. Deiails ol any othe¥ tian5aclion5 Wlth relèled parties during the reportin period are included in the Trotes to the financial statements. OBJEcfivES AND AcfiviTIE5 The TeenTech Eharity runs award-winning iniliiilives across the UK to help young people Ljndeisland opportunities in a last-ch3nging world theiT PDtenti31 to enjoy and Shine in those areas. We l()CLJS on those wh05L life Lhoices may bo limitod, whether throu8h gcndor, erhftlcity, social background, being dilferenily abled, hawlng spe¢lal needs,. helping them io Understand the opportunltles open to them in modern industryi partlcularly in science, technology and engineerlng. Wc constantly update how we work la kecp pace with the changin& noL,ds ol the modern workplace and the tran5formalive nature of iechnology on people And lob5. Page14 TEENTECH CHARITY TRUSTEE REPOR T for the Year Ended 30 September 2024 Our overarching objeclive is to help young people aged 8-19 und2r51and thelr potentlal ihrouEh 3 series ol enEagin8, aEe-3pproprlète InteNentions, both through events and on8Din8 programmes, that surface invisible ond fast changing roles. We reco%n15e that major inllucncers orn young people aro thelr parents. teachers and peers and our progrommes are designed to inclLtde and but1d network5 in the community. We also recognlse from our own research and that of others that young people increasingly gain under51anding of the world vla sotial Medla and they tite this as a major influencer in career decision making. We hold large-scale reBional Intefactive events, 'TeenTech Festivals, whith provide pathways Into our natlonal 'TeenTech Awards, and 'feenTech 6uild Your Future, programrnes where young people are provided wilh year-rDund opportunities to work alon8sldo industry mentors. Wo provldo a framework of actlvity and a neiwork ol useful toniac15 and opportunlties helping develop 'STEM capltal, Wé also provide young people wlth a voice as we believe they are often considered but not always ￿tIVelY paci of rhe doc15ion making proces5. We have a hSghly experlenced industry boaid of trustees and a dedlcated team led by ce-founder and tochnulo8y fok)orler MilHKiQ Pliilbin 08E, We have A Young Person's Advisory board who provide valuable Inslght and help set the dlrectl()ii ancl delivery mechanisms for Dur work, Publlc beneflt The SL4mmary tsl the objects ol the charity as sel out In its 8overnin8 document IS.. 'rhe advoncement of educutlon lor the public benefit by the promolion ol the stvdy of science, lechnolooy, englneerinG and maihernotiC5 umonqst young people t7nd the lurthcronce of L7ny other choritoble octiviilesfor the advoncement educoiion 0$ the dlre¢tors thinkfit, In Ivrtherance ol TeenTech ChafitV'5 aims, the Charity Trustees have complied with the duly in 5.17 01 The Charitles Art 2011 to have due iegarri to the Charlry Commlsslon's publlshed general and relevant 5ub-sector 8uidance concerning the operation ol the Publlc Benefit requirem@nt under the act. The provision o( ¢ur inili(Ilives lo young people ihus provides o clear benefit 10 the public. Our 5t3keholders are young people, teachers, parents, companles ollering opportunities in 5cicnce, technoloEy and englneerinE, FE College5, Unlver511ie5 and we consuh with all groups on an on.6oing basi5. Schools, reglonal counclls and ihv loc31 cDmmunlt¥ pnthuslasllcall¥ recelve our eveni$ 3nd programmes . By woiklng in parinershlp, we draw upon the knowledge and meet the needs ol specllic Lommunille5. We work diligently with the very best In the field to ensure o high 51andord of content and we collect and act upon leedback. We measure impact and know our initiatives are particularly powerful in encouraging students who identify as female and students from disadvantaged back8round5 to consider careers in technology, engineerlng. constructlon and the applied sclences. We provide these Siuden15 and schools wilh a fr TcenTech Award5 Final (or judglng. TeenTech Re#lonal FestSvals- Wc will have o lull schedule ol six ReRional Festlvals with events acros5 the country Including a new Reglonal Festival in collaboratian with Oe Montfort University in March 2025. Susse% Festival- November 2024 Cordiff Feslival- Oecember 2024 MTI Festival- February 2025 OMU Festival- Mdrch 2025 Roehamplon Fe5tSval- April 2025 Lancashire. Festlval - June 2025 TeenT*ch Innovatlan Hacks- We're thrilled to be worklng with Amazon Web Scrvites on a numb(4r of. in person eveiiis b;)sed at NH5 hosplials, 'Innovalion klacks" AWS is a leader in healthcare innovation. They have created some hugely emcitlng and ground breaking prolects U5inA data analirtlcs and Al to proctrss huge Jmounts ol data enabling ihem to improve outcomes in ¢1 fi1n8c nl clinicii I sciting5 5vch as testlng and ceratlng digitial patient rpcofds. The Ihnovoison Hacks are deslgned Sn insplre lind e.nable SlJdents to cupme up with now ideas lor the NHS land TeenTech Awardsl by taking part in tech demo's run by AWS and the NHS who will showcase cuttine-ed8e ideas alongside expEfts on the da¥. FINANCIAL REVIEW As stated above, thls was the thlrd year where the majority of Dperations were run from the Charity JIiLir being IrJnslerrod from the tradin8 subsidiary, TeenTech CIC. Tho liRure5 in the previous yeai are a meaningtul compailson. Operotionally the year has been a fantastic success with a lew prr)grimmes coming to Il close allowin the Chariy to 51art new pro8fammes with a new locus, financially the Charity has closely moniiered expenditure, wo have rcviewed ihc in person ovent5 Wlth 5ub5tantial venuo costs to ensure that onlv linJn¢iJlly viable evenls are repealed The charity's Statement of Flnancial Actlvities show an overall balance of £1,333,12023 £3961. Total income of £248.646,12023 E240.6111. Within this tot31, donations and grant5 of £213,314 i TeenTech Charity Included grant5 generously made by the Ove Arup Foundaiion. Ingenious awards from ihe Royhl Achdemy of Engineering and don81ion5 Ifom TeenTech CIC to reflect sponsrifship income received from Atkins. AWS, Haleon, Sopra Stria. Income for chèritablè actlvitiÈs 01 £35.332. 12023 £49,000) w￿le received from organisations includirt8 OCR, Unive(sity ol Cardiff and the L3ncashlre Digital Skills Partnership. Page115 TEENTECH CHARITY TRUSTEE REPOR T for the Year Ended 30 September 2024 Expenditure of E247,710, 12023 £249,618) reflected ihe costs ol the events and proErammes that wore lundod. The balance sheet shows 3 cash balance is simllar io last year 125,36812023 £38.3321, delerred income of £27,204 (2023 £60,670) which re13te5 to events and proErammes to be carrled otst wlthi ITh 2Q24125 linancial year. Irède creditors £3,10112023 £12,611), trade debtors £Nil 12023 E20.2001 and prepEymenls £8,28512023 £20.2261. The Board are keen lo grow lTrcurne to ensure thai hlgh qualily aciiviiles continue (o support sludt)nls acrDSS the UK they continve to work with the CED io forrnulate strategles to ensure additional funding sources aio Identified, paTticulaily over the medium lo long term. Key flnancial rlsks are monitored quarterly by the Trustees wlth cornparison ol actual results against bud8et5 and ieview of the ca5hllow forecast and barik balarsce5. Takin8 thesc into account and lookin8 ai Cornlractual obliEalivns, It Is thelr oplnion that the Chariiv Is li golng concefn. RESERVES POLICY The Trustces are commStted to en5urln8 that all funds ralsed by the Charity are applied dlrecily lo the. prlnclpdl aims and activities in support ol Ils charitable objeciives. In accordance with the 8vidance provlded by the Chariry Commisslon, the Trustees have conflucted a thorough revlew of the Charity's requirernents lor réserves. Th15 financlal year has been one of consolldat5on for the Charlty, during which we have stabili5ed our financial posillon, Lookin8 ahead, the Charity plons ID 8r3d￿allY increase ils reserve levels ID provide gfeaier finèncial securlly and susiainabilily. The Cliarily operales wlih a locu& on eff5clency. employii)& Ir¥.elance sraff 35 progrhmine funding 55 secured anrl maintainlng a l@an structure with limited fixed overheads, Thè Tmsteès asse5S the financial risks assoclated with this approach to be manageoble, and will contlnue to review this posifion annually, As part ol our ongoing risk m?na8ement strategy, we are committed to buildin8 reserves as necessary to support the Charity'51on8-term stability and operational fesi5ience. RISK POLICY Ai Truslee meelln8s, the Trustees have exarnined malvr 51ralegi¢, business, liriJiiciJl and oper41ional risks whlch the Charily faces. llie Charlty operates formal documented policies to cover operational ri5k5 and to ensure COEnpliaDce with best prfictice and IEgi51atlDn, particularly in the area of child solegudrding. Through the risk management processes established, the Trustees are satisfied that the major risk5 idgntified have been adequately rnitlBated where ne¢e55arv. FINANCIAL RISK MANAGEMENT The Charity finances Its oper3tion5 through the 8eneration of cash from operatlng aclivltie5 and ha5 no Interest rate exposure on finèncial Ilabilities. Liquidity risk is managed ihrou8h forecastlng th fulure cash flow requirements of the Charity and mainlaining sufficient cash al bank balances. Page116 TEENTECH CHARITY TRUSTEE REPQR T for the Year Ended 30 September 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIE5 IN RELATION TO THE FINANCIAL STATEMENTS The tfusiees Iwho are also dirKtL7rs of TeenTech Chariiy for rhe purposes of company lawl are responsible for prep3flng the Tru5tees' Report and the financlal statement5 in accordance with applicablc law and United Kin8dtim AEcountin8 Slafjdards, includlng Financlal Reporting Standard 102.. The Financial Reporiing srJndard applleable In the UK and Republic of Ireland (United Kingdom Accepted Accounting Practicel. Company law requlres the trustees lo prepare financial st&iemorsls for eèch financial yeai which 8lve true and fair view of the 51ate ol affairs of the charitable company and of the income and xponditure, of tho chariluble company lof that perlod, ITh preparlng these flnanclal statements, the Irusteos are requlred io.. select sultable account1￿8 policies and then apply thern con515tenlly; observe the method5 and prlrtciples Sn the Charities SORP,. mèke judgements and accounting estimaies that are reasonable and prudent., state whether applicablè UK Accounting Srandards have been followed. subject to anv mateilal deparlures disclosed and explJlned in the linancial stJiements,' and prepare the fSnancial slalements on the golng concein basis unle55 It 15 Inappropriate to pre5yme that the charitable company will continue in busine55. The tiusiees are responsible for keeping adequate Jccountlng rècord5 thit disclose with reasonable accuf3CV at any time ihe financial p051tion of the charltable compgny and enable them to ensure that Iho financial statement5 comply with the Companies Act 2006. They are also responsible lor safeguriidlng th¢ asseis of rhe charliable Compan¥ &ir)d htnte for tiiklng reasonable sttps fof ihe prevention and detecllon of ffaud and other IrreBularitie5. DECLARATION The Irustpes declare that they have approved the truslee5' ceport above. Approved by nrder ol the board of Iruslees on 14" March 2025 and si8ned on its behalf by LLU9>J Mr A W1150n- Chair of Trustees Maggle Philbin CEO TeenTech Page | 17 TEENTECH CHARITY TRUSTEE REPOFIT for the Year Ended 30 September 2024 I report to the charity Trustees on my examination of the account5 of the company for the year ended 30 september 2024. Responslbllltles and basss af report As tho charity's Trustees of the company land also its directors for the purposes of compaThy lawl you afe responsible for the preparation of the account5 In accordance with the requirernents of the Cownpanies Act 201￿ I'the 2006 Act'l. Having satisfied myself that the accounts of the company are not requlied to be audiied undef Part 16 of the 2006 Acl and are eligible lor Independent examinètlon, I repctrt in respeci of my examination of yoyr chaflty's accounis os carrSed out under section 145 of the Charltieg Act 2011 I'the 2011 Act'l. In cariying out my examination I have followed the Dlrection5 glven by the Charity Comm155ion under section 145151 Ibl ol ihe 2011 Act. Independent Ex•miDer's Statement I have completed my examlnatlon. I confirm that no matters have come lo my attention In connectlon wlth the examlnatSon glving me cause to believe.. accounllng records were not kept In respect of the company as requlred by section 386 of the 217J6 Act,. or the accounts do not accord wlth those records,. or the accounts do noi comply with the accountiiig requirements of section 396 of Ihe 2006 Act other than any requlfemert ihat the accounts 8ive a truo and fair vlew which Is not a matlcr considered as Paft ol an indepei)dent examination,, or the accouht5 have not been pfepared lrt Jccoidante wlth the methods tsnd principles of ihe Staternent of Recommended Practice lor accourbling and reportin8 by charlties appllcable to chariiles preparin8 their accounis In accordance wlth the Financial Reportin& 51andard appllcable in the UK and Republic of Ireland IFRS 1021, I have no concerns and have come acTOS5 no other m3tters in connection wlth the examination to which attention should hove been drawn In lttis report in order to enable a proper underslanéin8 of Ihe accounts to be reached. Arvln FCA, CTA, DChA 04 Aprll Z025 levy + Partners LSmited Chartered Account3n15 7-8 Ritz Parade Western Avenue London W5 3FIA Page | 18 TEENTECH CHARITY TRUSTEE REPORT for the Year Ended 30 September 2024 TEEMTECH CHARITY STATEMENT OF FINANCIALACTIVITIES {INCOAPORAnNG INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 IOZ4 2024 Unrostrlrted Resirkn•d Funds Fynd$ Z024 loz3 T•i•l Totsl Noi¢$ Inrome from.. Donatlons and geants 159.339 53,976 213A15 191.611 Charltable actlvitles 35,332 35332 49,000 Total In¢om• 194,671 53,976 248.647 240.611 Exp¢ndltyrt on: Ra151n8 funds Charl(able acllvliles 193,734 $3,976 247,710 249,617 fol￿ ¢¥p•nd6tur• 193,734 $3,976 247,710 249.517 Net Iexptndlitsrelll+￿fjM* net mowmont In fvnds 937 101 937 19,0061 A•conrlll•tlon otfunds TotBI funds brgu6ht forward 396 396 9.403 Total lunds cirrled forwird 1.3>3 101 1.333 196 Thwe are no fecogn5sed 8ains and losses other than ihose In the statement of linanclal actlwties. Therefore no staiemeni ol I￿al recoznlsed ialns gnd losses has been prtpared. All thè above amounrs rdate to contlnul The aceompanyln8 notes on paBe5 22 to 28 lorffi an Inte4ial part ol these Ilnirtcial slatemenis. Page119 TEENTECH CHARITY TRUSTÉE REPORT for the Year Ended 30 September 2024 Company no.. IIS87837 Charliy no.. 1182557 TEENTECH CFLARITY BALANCE 5HEEr AS AT 30 SEPTEMBER 2024 2024 Total 2023 Yotsl lknrestrkted Restrlctod fvnds lund5 FlJt4d 4s511s T•n8lble assets 415 415 415 41S 831 831 Curr•nl oMet¥ Stock Debiors Cash ai bank and in hand 8,285 25,368 33,654 8,285 2$368 33,654 40,426 3É,332 78,759 Credlt¢rs.' •rno￿ts l•11Sni du• wlthln on* yt•f 132.7361 132.7361 179,1921 Wet current •is•ts 918 914 14331 Total *ss•ts 1.333 1.333 396 Desienated funds Genèral lunds Total unrestricted funds Is 1.333 1,333 396 396 Fund5 1,333 101 I,y3J 396 Total lund5 1,333 101 1,333 396 For Ihe year Lindin8 30 Seplember 2023 the cornpany wds entitled to exemptlon under 5ectSon 477 01 the Companle5 Act 200S ielatin8 to small companies. No rnernbers hav¢ rpquived the tompany to cbiain an audit of It5 3Ctount5 for the yeav In 4ue5tion in accordance with scctlon 476 of the Cpry3nie5 Act 20C6. The dlrectors ackntswledgè their responslbilties lor complylne wlih the requlrements ol the Companles Acl 2006 with respect to £ccc>untin8 record5 and preparatlon ol accounts. The accounts have been prepared In accordancè wlth the prevSslons tn Part IS cf thÈ Compan5es A£t appllcable t& tornpanles S￿bItC1 to ihe small companles rtglme and in Kcordance with FR5102 SORP. The accounts were approved by the 8oard of Trustees on 141h Marth 2025 and sl¢ned on ihelr behalf on that date by., Page | 20 TEENTECH CHARrrY TRUSTEE REPORT for the Year Ended 30 September 2024 Magi1• phllbln, CEO AndNw Wllwn, Ch•lnnon The accompaThyln8 notes on page$ 22 to 28 lorm an Inte8ral part ol I￿se Ilnanclal statements. Page | 21 TEENTECH CHARITY TRUSTEE REPORT for the Year Ended 30 September 2024 TEENTECH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 I. ACCOUNTING POLICIES a) 8asls of prèparatlon The financial stalemenls hove been prepared in accordance wlth the Siatement of Recommended Practice foi charitie5 ISDRP 2015115econd Edition, @fleciive l January 20191, the Flnancial ReportinR Slandaltl applicable In ihe UK arid Republlc ol Ireland IFRS 1021 and the Companles Act 20C16. In addltion these finaheial siaiemenis have been Pfepared under the hi51orical c051 convenlbon. Teenfech Charity meets the dellnitlon of a public beneflt enlily under FRS 102. Assets and liabllltles are Initially recogn15ed 3t historical cosi or transaciion value unless otherwise slated in the relevant 3ccountlrb8 policy notes. The functional and presentatlonal rurrency Is pounds sterlin8 and rounding is to the nearest pound. bl Inrome In¢ome 15 recoRnlsed where there Is enlitlenleni, where ihe recoipl of incon)e Is probable and rhe amount can be measured wlth sufficlent reliabllitv. Grants and donallons are recogn15ed once entitlemen¢ and value have been confirmed In writing. Charitable activities represent income received frovn delivery cf events. The Income is recogniscd when receivable, The value of any voluntary help received 15 not included in the accounts bul is described in the trustees, annual report. cl Expendlture Liabillties are recognised as expenditure as sDon as there is a legal or corsstruclivp obllgatlofi coffjmillinK the charity to make a payment to a third party, it is probable Ihal J transfer of economlc beneflis wrll be required in senlement and the amount of the C*blig¢ltlon can be measured cellably. All expenditure is stated incluslve of irrecoverable VAT. Expendilure on ralsin8 funds are costs ifbcurred in 5eekinE voluntary Sncome.. Exponditure on charitable activitie5 Includes the costs of educational event5 undertaken to luriher the purposes of the charlty, artd assoclated salary and suppori ¢osis. Governance costs Snclude costs whlch are dlrectly attrlbutable to the day to day rvnning of rhe chaflty and procedure5 nece5531y (or compllance with siaturory reouiromenls. Page122 TEENTECH CHARITY TRUSTEE REPORT for the Year Ended 30 September 2024 TEENTECH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 SEPTEMBER 2024 I. ACCOUNTING POLICIES ICONTINUEOI dl 7axatlon No liability to UK corporaiion tax arose on ordinary activities for the year ended 30 September 2024 è5 the Company enjoys tax-exempt charitable 5tatUS, el Penslons The chhriiy operates a delined eonirlbulion penslon scheme for employees. These assets of the scheme are held separately from those of the charlty. The annual contribuilons payable are charged to tho stattsment ol finonciol bclivitles as they bocorrio due. Funds aro transferrod every month lo the Pension Scheme Provider. n Estlmates and lud8ement5 E5timaies ond judgemtrnts are tontinually evalualcd and are based on hislorical experience dnd other factors, includin8 expectations ol lulure events thar are belleved to be reasonable under Ilie circumstances. Although these estimate5 are based on the Trusteo5' besl knowleé8e ol the Bmouftl, evenis or actions, actual results ultimately diller from ihese estimates. The Trustees do not ¢onsider there to be any malerlal esilmates and judgemènts. Tan8lble Ilmed a55ets Taii8lble fixed assets are slated ai COSE less depreciafion. All 4S5etS Cosling £500 or fflore and with an expectpd useful economlc lifè exceeding one year are capitalised. Oepfeci3tion Is provided ort all tangible fixed assets at rates calculated to writc oll thc (Dst of eaLh a55LIt, less any Ljstimotcd fesiéual volue, evenly over ils expecred useful life. The expected useful lile ol IT and olllLe equipment 15 two years. hl Stock5 Stocks are valued at the lower of cost and net ¥eali5able value. The Charity holds no stocks al year end. l) Debtors I'rade and nther debtors arg. rètognlsed at the settlempnt amount due after any trade discount offered, Prepayments are valued at the amount prepaSd net of any trade dlscounts due. Accrued Int&me and lax rp¢.overi)ble Is included at th￿ best eslimate of the arnount recefvable at the balanee sheet date, 11 C8sh at bank and In hBnd Cash at bank and in hand Include5 cash and shori term deposit accounts wlth 35 days notice or les5. kl Credltors Liabilities are reiDgni5ed as 500n as there is a legal or constructive obligatlon committSng the charily to pay oui resources. P3ge | 23 TEENTECH CHARITY TRUSTEE REPORT for the Year Ended 30 September 2024 rEENTECH CHARITY NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 I. ACCOUNTING POLICIES ICONTINVEDI l} Flnan¢ial Instruments The charity oiily has financial assets and financlal liabilities of a kind that qualify as basic financial In5trurnents. Basic finarbcial instruments are initially recognised at transaction value and subsequently measured at thelr settloment value, Trade and other debtors are recognised at the settlement value bclore any trade discounts due. Cash at bank and In hond includes cash and short term hlghly Ilquid investments with short maturity ol three months or less from the dale of acqu15itlon or opening of the dep051t or similar account. Creditors and provislon5 are reco8nlsÈd whore the charily has a present obllgatlon fesuliing from a pasi event thèt will probably result In ihe iransfer of fund5 to a third party and the amount due tD settle the obll8ation can be measured or eslbmated reliably. Creditor5 and provlsior)s are normally reco8nlsed al Ihelr settlement mcunt after allowlng for any trade dls¢ount5. ml Fund Accountlng General fund5 are unrestricted funds whlch are available lor use at the dlscrellon ol ihe Trustees li) furrlierance ol the general oblecllves ol ihe charily and whlch have ttoi been desi8nated for specific purp05e5, Restricled lund5 are Ihg5e which have been givEn lar partlcular pufpose and projects Wlthin the objects of the chaiily, Restrletions arise when spe.cified by the donor or when funds are ralsed for partlcular restrlcied purposes. The alm and use of each restricied fLJnd Is set out In the nole5 to the accounts. nl Goln8 Concern The trusteÈg consider that there are no roaterial uncertalnties aboul the eharitable cornpany's abllity lo contlnue 35 a Boing concern. Page | 24 TEENTECH CHARITY TRUSTEE REPORT for the Year Ended 30 September 2024 TEENTECH CHARITY NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 SEPTEMBER 2024 2 INCOME ANALY515 2024 2023 Unr•5tdrt•d Re5trlcted Total funds funds UThr¢stiict¢d Rostrlcted Tot•1 funds fund5 INCOME FROM DONATIONS ANO GRANTS Donations and gilts Doniiion Irom trading subsidiary Trusts and loundatlon5 50,289 lQ9,05Q SO,Z89 109,050 53,975 33,250 IOR,.3f16 33,250 108,386 49,975 53,975 49,975 159,339 53,975 211,314 141,636 49,975 191.611 INCOME FROM CHARITABLE ACTIVITIES Sponsofshlp ol evénts Fees lor evenis programme5 35.332 35.332 49,OC 49,000 3S,332 35,332 49,00 49.000 Ttrtal Income 194.671 53,975 248,646 190,636 49.975 140,611 J. EXPENDITURE ANALYSIS 1024 Unr•sfrld•d Rts¢rl¢¢ed Total lundi lund5 2023 Unrestrlcted Restrleted Total lunds lunds Ra151n8 funds Charltable actlvlle5'. Project tnana8ement support Stall C0S15 Travel and subs15tence Othèr event tcsls 8??56 50735 132,992 14.348 11,375 12.643 14,639 71x153 53625 47806 117,859 53,625 16,067 25.390 9.826 14348 D 9031 2,344 21747 896 14639 0 15144 923 24754 636 Support costs 98Z6 193,734 53,976 247.71Q 199,642 49.975 249.617 Toiat exp•ndltur• 195,734 $3J70 247.710 199,64Z 49.975 249.617 Page I Z5 TEENTECH CHARtTY TRUSTEE REPORT lor the Year Ended 30 September 2024 TEEMfECH CHARITY NOTES TO THE FINANCIAL STATEMÉNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 4. STAFF cosrs 2024 2021 Wages and 5alarles Employer's Naiional Insurance Employer'5 pen51on iontritwtsons 12,686 1,391 270 51,789 670 1.161 14.348 53,625 ts ernployees recelved efflolumeThts ol more than £60,000 durin8 2022. Average nuM￿r ol employees duflng the year Averaie numbèr ol fvll ilmfr equlvalent employee5 durlngthe year St411 wert employed ind pald by TeefiTech CIC durln8 the prevlou> yt•r. S. TRUSTEE REMUNERATION AND BENEFry5 In attord?n¢e wlth the ¢overnlni document and as apprcved on re4lstratlon ol ch•rfty. M4r8aret Phllblnls pald as CEO. Her 2020121 renumtrat*)n wai pald thrtsu8h TeenTéch CIC Ist* notè ILI below). 2024 zozj Remuneratlon Penslon contribuiion 12.686 170 18.80 389 19,189 No othef Tr￿slee5 received any remuneialion or expenses from the charlty in felaiion io tho performance of ihelr dullE5 as twu$tees In elthef Z022 or 2021, 6. NET MOVEMENT IN FUNDS FOA ThE YEAR 2024 2023 The net n￿¥ement In funds for the year Is #ated after th3rgln8'. Depreclailon ol owrnÈd flxed asseis Independent Ex•mlner's remunerailon 415 666 I,ioo 1,250 Page | 26 TEENTECH CHARITY TRUSTEE REPORT for the Year Ended 30 September 2024 TEENTECH CHARITY NOTES TO THE FINANCIAL SYATEMENTS FOR THE YEAR ENDED 30 SEPTEMBf R 1024 7. TANGIBLE FIXED ASSETS 2024 2023 Flxtures. flttlnp and Ogulpmont Co$1 8roLt8ht lorward Additlon5 2,163 1,333 830 Dlsposa15 Carried lorwèrd 2,163 2,163 Oeprècjbtlon 8ro¢J8ht lorwarij Charge lor the ytaf Depreclarion relatlng to dlsposals Carr￿d lorwèid 1,332 4L5 666 666 1,748 1.332 Nét book valu* As Ai 30 September 2024 As at 30 Sepiember 2023 415 831 831 667 8. DEBTORS 2024 2024 Trade éebtor5 20.200 20.226 23,948 40,426 Prepayments Jnd actrueé incorne IntercompJny debtor 11.285 21,948 8,105 9. CREOITORS.. AM¢)UNTS FAiUNG OUÉ WITHIII ONE YEAR 2024 2013 Trade cr•dit¢r$ Delerred Incgme j.ioi 27204 I,iao ¥330 12.611 60,470 1.2¢)J 13.0651 7.976 Accruals Taxation and soclal security Othef creditor5 32,736 79.192 Oeferred Incorne represents erant lundln8 Jnd contractual pJyments lor programmes recelved In the current financlal year, to be delivered In the next financlal year. Page127 TEENTECH CHARITY TRUSTEE REPORT tor the Year Erhded 30 September 2024 EENTECH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 10. PENSION COMMITMENTS Tho charily oporate5 a 5epaTate defined £tsntriEwJtions pern5ion schéme. Tht Jssets ol the scherne are held separately from ihose of the tharity in an independently admSnlstÈrÈd lund. The peh$lon tosts char8e fepiesents contiibulknn5 payakjle by the charSty to ihe lunds and 3rnounled to £270 12023 £1.1671. 11. MEMBERS. UA8ILITIES The chaiit3ble company Is Ilrnited by iuarantee. L¥eiy member of the company underlakes to ¢ontflbute to the assets ol rhe company, in the event of ihe same belng wounij up whlle he or she Is a mèmbet. or wlthSn oné year alter he or she ceases to be a member, for payment ol tfrfe debts Ilabllltles ot the company contracted before he Ceases to be a member, and ol the ¢05ts, charges énd expenses of wlnding up such amount os may be reoulred noi exceedlng £1. Ai ihe balance Sheet d•te iheTe were 12 members. 11. RELATEO PARTY TIIANSACTIQNS Total donations from TeenTeih C1C, wholly own8d tTading subsidiary to Teentech Charlty were É109.DSO12023.. ÉJ08,3861. At ihe Year end date £nil donatlons wcrc payable by fienTech CIC 12023.. Co.￿0). As operatlons were run through both TeenTech Charity and leenTech Cic durln8 the ye8r, VAT and Invoices paid by TetnTech Charlty but partty ottributablt to T¢enT¢ch CIC of -Enil wero pald and held Is an Intercérnpany debtor bèlance on 30th Sèpternbér 202412023. £1976 involces pald bv TeenTech CIC on behalf on TeenTech Charlty and held a5 Snler¢omp•ny crEdSttsrl. There were no ather outst4ndin8 balances wllh related partles •t the year end f2ate (2023.. £Nill. In vlew ot the charlty's leg415totU5 the charltyTrust8es consid4r that ther• is no U1￿Mate ¢oNtrolling party to be d15closed under the provisruns ot Flnancial Reportlng Standard No. 8. Page | 28 Page | 29