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|||||||||PAGE|
|---|---|---|---|---|---|---|---|---|
|Trustees'|annual
report (incorporating|||the|director's|report)|||
|Independent
auditor's||report to|the members||||||
|Statement|offinancial|activities|(including||income and expenditure||account)|12|
|Statement|of financial|position||||||13|
|Statement|ofcash tlows|||||||14|
|Notes to the financial||statements||||||15|
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|REFEREN|REFEREN|CE AND|ADMINISTR|ADMINISTR|ATIVE
DETAILS|ATIVE
DETAILS||||
|---|---|---|---|---|---|---|---|---|---|
|Registered||charity|name||Generation:
You Employed,||UK|||
|Charity registration|||number||||||1183046|
|Company||registration||number|||||11011652|
|Principal|office and||registered||Generation:
You Employed,||UK|||
|office|||||One High Street|||||
||||||Egham|||||
||||||Surrey|||||
||||||TW20 9HJ|||||
|THE TRUSTEES||||||||||
||||||Dame VY Hunt|||||
||||||Mr A Ratcliffe|||||
||||||Dr M Mourshed|||||
||||||Mr SAtcha MBE DL|||||
||||||Mrs AY Bentinck MBE|||||
||||||Mr K A Bone|||||
||||||Ms E Olumide|||||
||||||Mr C Shaw|||||
|CHIEF EXECUTIVE|||OFFICER||Michael
Houlihan|||||
|AUDITOR|||||Meadows
&Co Limited|||||
||||||Chartered
Accountants|& Statutory||Auditor||
||||||Headlands
House|||||
||||||1 Kings Court|||||
||||||Kettering
Parkway|||||
||||||Kettering|||||
||||||NN15 6WJ|||||
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|||||||2021|||2020|
|---|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted||||
||||||funds|funds|Total funds||Total funds|
|||||Note|F|F|||6|
|Income and|endowments|||||||||
|Donations
and legacies||||5|1,003,242|2,876,283|3,879,525|2,573,562||
|Charitable
activities||||6|214,701||214,701||95,450|
|Investment|income|||7|360||360||370|
|Total income|||||1,218,303|2,876,283|4,094,586|2,669,382||
|Expenditure||||||||||
|Expenditure|on raising funds:|||||||||
|Costs|of raising donations||and|||||||
|legacies||||||110,528|110,528||110,687|
|Expenditure|on charitable|activities||9,10|934,705|2,738,470|3,673,175||2,537,990|
|Total expenditure|||||934,705|2,848,998|3,783,703||2,648,677|
|Net income|and net movement||in funds||283,598|27,285|310,883||20,705|
|Reconciliation
offunds||||||||||
|Total funds|brought
forward||||86,917|156,937|243,854||223,149|
|Total funds|carried forward||||370,515|184,222|554,737||243,854|
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|31 December 2021||||||
|---|---|---|---|---|---|
||||2021|2020||
|||Note||E||
|FIXEDASSETS||||||
|Tangible
fixed assets||15|46,568|30,794||
|CURRENT ASSETS||||||
|Debtors||16|831,209|413,479||
|Cash at bank and
in hand||1,118,204||519,562||
|||1,949,413||933,041||
|CREDITORS: amounts|falling due within|||||
|one year||17|1,354,272|509,413||
|NET CURRENT ASSETS||||595,141|423,628|
|TOTAL ASSETS LESS|CURRENT LIABILITIES|||641,709|454,422|
|CREDITORS: amounts|falling due after|||||
|more than one year||18||86,972|210,568|
|NET ASSETS||||554,737|243,854|
|FUNDS OF THE CHARITY||||||
|Restricted
funds|||184,222|156,937||
|Unrestricted
funds|||370,515|86,917||
|Total charity funds||20|554,737|243,854||
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|YEAR ENDED 31 DECEMBER 202|1|||
|---|---|---|---|
|||2021|2020|
|||F|6|
|CASH FLOWS FROM OPERATING|ACTIVITIES|||
|Net income||310,883|20,705|
|Adjustments
for:||||
|Depreciation
oftangible
fixed assets||19,298|8,018|
|Other interest receivable
and similar|income|( 360)|( 370)|
|Interest payable
and similar charges||27,334|11,729|
|Accrued income|||( 225,278)|
|Changesin:||||
|Trade and other debtors||( 417,730)|( 258,259)|
|Trade and other creditors||760,696|402,698|
|Cash generated
from operations||700,121|( 40,757)|
|Interest
paid||( 27,334)|( 11,729)|
|Interest received||360|370|
|Net cash from/(used
in) operating
activities||673,147|( 52,116)|
|CASH FLOWS FROM INVESTING|ACTIVITIES|||
|Purchase
oftangible assets||( 35,072)|( 34,720)|
|Net cash used
in investing
activities||( 35,072)|( 34,720)|
|CASH FLOWS FROM FINANCING|ACTIVITIES|||
|Proceeds from borrowings||( 39,433)|250,000|
|Net cash (used in)/from
financing
activities||( 39,433)|250,000|
|NET INCREASE IN CASH AND CASH EQUIVALENTS||598,642|163,164|
|CASH AND CASH EQUIVALENTS|AT BEGINNING OF YEAR|519,562|356,398|
|CASH AND CASH EQUIVALENTS|AT END OF YEAR|1,118,204|519,562|
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|GRANTS|||||||||
|---|---|---|---|---|---|---|---|---|
|Corporate|and Business Grants|||100,765||344,666|445,431||
|Foundation|and|Trust Grants||24,252|1,410,167||1,434,419||
|Individual|Grants||||||||
|Government
grants||||314,818|1,121,450||1,436,268||
|OTHER DONATIONS||AND LEGACIES|||||||
|Other income||||407,743|||407,743||
|||||1,003,242|2,876,283||3,879,525||
|||||Unrestricted||Restricted
Total||Funds|
||||||Funds||Funds|2020|
||||||||f|6|
|DONATIONS|||||||||
|In kind contributions|||from donor|726,100|||726,100||
|GRANTS|||||||||
|Corporate|and Business Grants|||214,515||512,928|727,443||
|Foundation|and|Trust Grants||||111,459|111,459||
|Individual|Grants|||7,734|||7,734||
|Government
grants||||||835,110|835,110||
|OTHER DONATIONS||AND LEGACIES|||||||
|Other income||||165,716|||165,716||
|||||1,114,065|1,459,497||2,573,562||
|6.|CHARITABL|E ACTIVITIES||||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2021|Funds|2020|
||Employer|income||214,701|214,701|95,450|95,450|
|7.|INVESTMENT INCOME|||||||
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2021|Funds|2020|
||||||E|||
||Bank interest receivable|||360|360|370|370|
|8.|COSTS OF RAISING DONATIONS|||AND LEGACIES||||
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2021|
||Costs of raising donations||and|legacies - Grants receivable||110,528|110,528|
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2020|
||Costs of raising donations||and|legacies - Grants receivable|88,001|22,686|110,687|
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||||||||||||||Unrestricted|Unrestricted|Restricted||Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||Funds|Funds|||2021|
||Overheads|||||||||||||34,584|442,022|||476,606|
||Support|costs|||||||||||900,121||2,296,448|||3,196,569|
||||||||||||||934,705||2,738,470|||3,673,175|
||||||||||||||Unrestricted||Restricted||Total Funds||
|||||||||||||||Funds|Funds|||2020|
||||||||||||||||8|||6|
||Overheads||||||||||||801,307||195,277|||996,584|
||Support|costs|||||||||||380,711||1,160,695||1,541,406||
||||||||||||||1,182,018||1,355,972||2,537,990||
|10.EXPENDITURE||||ON||CHARITABLE ACTIVITIES BYACTIVITY|||||||TYPE||||||
||||||||||||Activities||||||||
||||||||||||undertaken||||Total funds||||
||||||||||||directly||Support costs||2021|Total||fund 2020|
|||||||||||||||E|E|||8|
||Overheads||||||||||476,606||2,944,202||3,420,808|||2,358,038|
||Governance|||costs||||||||||252,367|252,367|||179,952|
||||||||||||476,606||3,196,569||3,673,175|||2,537,990|
|11.NET INCOME|||||||||||||||||||
|Net income is||stated|||after||charging/(crediting):||||||||||||
|||||||||||||||2021|2020||||
|||||||||||||||F|6||||
|Depreciation||oftangible||||fixed assets||||||||19,298|8,018||||
|Foreign exchange|||differences|||||||||||(46)|(914)||||
|12.AUDITORS REMUNERATION|||||||||||||||||||
|||||||||||||||2021|2020||||
|Fees|payable|for the|||audit||of the financial||statements|||||8,425|7,350||||
|13.STAFF COSTS|||||||||||||||||||
|The company||has|direct|||employees||and|also|in|2020 benefiitted|from the||secondment|of individuals||employed
by||
|McKinsey
UK.|||||||||||||||||||
|The average||head||count|||of employees||during||the year was 56||(2020:|19 ) The|average
number||of full-time||
|equivalent
employees|||||during the year|||is|analysed||as follows:||||||||
|||||||||||||||2021|2020||||
|||||||||||||||No.|No.||||
|Management|||||||||||||||||||
|Programme
delivery||||||||||||||41|17||||
|Global|||||||||||||||||||
|Support functions|||||||||||||||||||
|||||||||||||||56|19||||
|whose|remuneration|for|the|year|fell|within|the|following|bands,|were:|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2021||2020|
|||||||||No.||No.|
|||||||||5||2|
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|One trustee claimed
and had their travelling
expenses
r
15.TANGIBLE FIXEDASSETS|eimbursed
of ENil (2020:643).||
|---|---|---|
|||Plant and|
|||machinery|
|Cost|||
|At 1 January
2021||39,049|
|Additions||35,072|
|At 31 December 2021||74,121|
|Depreciation|||
|At 1 January
2021||8,255|
|Charge for the year||19,298|
|At 31 December 2021||27,553|
|Carrying
amount|||
|At 31 December 2021||46,568|
|At 31 December 2020||30,794|
|16.DEBTORS|||
||2021|2020|
|Trade debtors|698,687|356,294|
|Amounts
owed by group undertakings|86,870||
|Prepayments
and accrued income|22,337|8,611|
|Other debtors|23,315|48,574|
||831,209|413,479|
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|17.CREDITORS: amounts|falling due within one year|||
|---|---|---|---|
|||2021|2020|
||||6|
|Bank loans and overdrafts||123,595|39,432|
|Trade creditors||30,749|59,923|
|Amounts
owed to group undertakings||639,726|149,664|
|Social security and other taxes||60,357|37,670|
|Other creditors||499,845|222,724|
|||1,354,272|509,413|
|18.CREDITORS: amounts|falling due after more than one year|||
|||2021|2020|
|Bank loans and overdrafts||86,972|210,568|
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|Unrestricte|d
funds||||||
|---|---|---|---|---|---|---|
|||At|1 January|||At 31|
||||2021|Income|Expenditure|December 2021|
||||f||6|6|
|General funds|||86,917|1,218,303|(934,705)|370,515|
|||At|1 January|||At 31 December|
||||2020|Income|Expenditure|2020|
||||6||f|f|
|General funds|||147,051|1,209,885|(1,270,019)|86,917|
|Restricted|funds||||||
|||At|1 January|||At 31|
||||2021|Income|Expenditure|December 2021|
||||||6|6|
|Restricted|Funds||156,937|2,876,283|(2,848,998)|184,222|
|||At|1 January|||At 31 December|
||||2020|Income|Expenditure|2020|
||||||f|f|
|Restricted|Funds||76,098|1,459,497|(1,378,658)|156,937|
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|21.ANALYSIS OF NET|AS|SET|S BETWEEN FUN|DS||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2021|
||||||E|||
|Tangible
fixed assets|||||46,568||46,568|
|Current assets|||||968,965|980,448|1,949,413|
|Creditors less than|1|year|||(558,046)|(796,226)|(1,354,272)|
|Creditors greater than||1 year|||(86,972)||(86,972)|
|Net assets|||||370,515|184,222|554,737|
|||||Unrestricted||Restricted|Total Funds|
||||||Funds|Funds|2020|
||||||||E|
|Tangible
fixed assets|||||30,794||30,794|
|Current assets|||||711,927|221,114|933,041|
|Creditors less than|1|year|||(445,236)|(64,177)|(509,413)|
|Creditors greater than||1 year|||(210,568)||(210,568)|
|Net assets|||||86,917|156,937|243,854|
|22.ANALYSIS OF CHANGES|||IN NET DEBT|||||
|||||||At 31 Dec||
|||||At 1 Jan 2021|Cash flows|2021||
|Cash at bank and
in hand||||519,562|598,642|1,118,204||
|Debt due within one year||||(39,432)|(84,163)|(123,595)||
|Debt due after one year||||(210,568)|123,596|(86,972)||
|||||269,562|638,075|907,637||
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