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2023-12-31-accounts

COMPANY REGISTRATION NUMBER: 11011652 CHARITY REGISTRATION NUMBER: 1183046 GENERATION: YOU EMPLOYED, UK Com Limited b Guarantee an FINANCIAL STATEMENTS 31 December 2023

GENERATION: YOU EMPLOYED, UK COMPANY LIMITED 8Y GUAFtANTEE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 PAGE Trustees. annual report (incorporating the direciorfs report) Independent auditorfs report lo the rnember5 ststement of financial activities (including in(x)me and expenditure 8cuyJntl stalement of financial posilion statement of cash fflows 11 12 13 Notes lo the financial slalernents 14

GENERATION: YOU EMPLOYED, UK COMPANY LIMITED 8Y GUAFtANTEE TRUSTEES, ANNUAL REPORT INCORPORATING THE DIRECTOR'S REPORT YEAR ENDED 31 DECEMBER 2023 The trustees. who are also the directors for the PLJrposes of company law, present their report and the finallcial statèmènts of the charitable company for the year ended 31 Dècember 2023 . REFERENCE AND ADMINISTRATIVE D￿AlLs Registered Charity name Charity registration number Company registration number Prlncipal offic• and r•gi5tored Generation- You Employed. UK office One High Street Egham Surrey TW20 9HJ Generation: You Employed, UK 1183046 11011652 THE TRUSTEES Oame V Y Hunt Mr A Ratc￿ffe Dr M Mourshed Mr S Atcha MBE DL Mrs AY Bentinck MBE MrKABone M5 E Olumide Mr C Shaw CHIEF EXECUTIVE OFFICER Michael Houlthan AUDITOR Meadows & Co Limited Chartered Accountants & &alutory Auditor Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ

STRUCTURE. GOVERNANCE AND MANAGEMENT Generation UK 15 a compavy limited by guarantee. govemed by its memorandum and articles of association dated 13 October 2017. 11 registered as a charity with Ihe Charity Commission in Juty 2019. DireCt￿S are appointed by the board and there are currenuy eight directors. The trustees who have served during the year and since the year-end are set out on page 1. The power lo appoint new trustees is exercised by a majorty in number of exists.ng yustees. Where there is a need for new trustees, this would be identified by the remaining trustees. Trustees meet ￿guladY during the year to wJree the broad strategy and areas of activty for Ihe charity. Trustees consider reserves and risk management pdicies and performance. The day-to-day administration of ihe charily lies with the Chief Executive OffKer. The trustees have examined the major strategic. business and operational risks which the charity fa￿S and confirms that systems have been established to enable continuous monitoring of such risks so that appropriate steps can be taken to lessen these risk5. OBJECMVES AND ACTIVITIES Generation UK relieves unemploymenl in England. Wales and Scoland through.. (al providing and promoting trairbing and retraining., Ibl facilitating access to work experience, apprenticeships and em￿OyMent opportunities- lel providing mentoring, guidance and advice.. and Idl providing other support. Our Mission We transform education to employment systems to prepare. place and support people into lrfe￿hangIng careers that would othenvisè be inaccessible_ Our Vlslon A Tneaningfijl career 2nd sustained welkbeing for every person anywhere. Publlc beneflt We have referted lo Ihe guidance containBd in the Chatity Commission's general guidaDGe publiG beTrefit when reviewing our aims and objectives and in Erfanning our future activib'es. In particular, the trustees consider how planned activities vrill contribule lo the aims and objeclives they sel. The objectives are outlined above in Ihe objectives and activities section of this report.

ACHIEVEMENTS AND PERFORMANCE Generation-. You Etnployed, UK (henceforth Generation} is a UK charity with a mission lo support people into life-changing employmenl opportunib.es that olherwise Ihey would be unable to access. To do so, we deliver clear pathways for people facng barriers to employment through free, profession-speafic, train-and-place skills bootcamps with matchmade interviews lo employer partners and ongoing one-to-one mentoring and coathing support. Since our fst programme delivery in 2019 through to the end of 2023. Gener8tion has SUPPOrted more than 3,000 people through boolcamps across the UK. wtth delivw acfOSS London, Greater Manchester, West Yorkshire, West Midlands, and Scotland. We have reached and 5UPPOrted tx)tential applicants through wide, mUlti￿aNnel outreach including via jobcentre5. partner charilies, digltal marketing and alumnilword-o"_mouth referral. The learners we have supported via our programmes rewesenl a diverse group of people who have fac8d significant barriers lo employmenL To date they have been c.400h women, c.70% ethni¢ minority, ¢.20'kn with a disability, over all ages (with 20/0 OV￿ 501, >20tyA unemployed for >12m, c.25>/4 with dependenls15 % lone parenlsl. c.40°A previously receivlng free schcM)Is meaPs and all with individual stories of challenges in finding work. Through our skills bootcamps. which have been designed in collabomtion with employers, we havè focussed on high-growth and in-demand. hard-to-fill roles in tech. such as doud computing. data engineeriryJ, data anal￿tIcS, IT support. We also run programffles to support people into the health and care sector. as well as an emerging portlolio of programmes in tt)e green sector. We have delNered seclor-leading job placement rates for these learners at over 70 /0. The roles we have SLVP)rted people lito have also not jusl been 'any jobs, but good jobs, and the stsrting point of successlvl careers. Our programmes pul graduate5 on a path to growing salaries. an ability lo save. a means to support dependents. arKI all Ihe other benefrts that come from economic independence. Our perfomance exceeds benchmarks. Education to employment programmes for people that are unemployed typically deliver 2040.￿ Pla￿[￿ent. Our leamers have also reported consistently high satisfaction. with a 60+ point Net Promoter Score INPSI, higher wellbeing, and >90°A Istrongly) agree inslructorslmentors are high qualtylhelpful and that they are more confident in their future. Generation, working as one combined organisation with GeneralK)n in Ireland, is part of a mission-aligned network of 18 non*rofft affliates of Generaion= You Employed. Inc - a US non-profft - that has supported >120,000 learners worfdwide under the same mcMJel. In September 2023 Generation also published it's Sw'al Impact Report, tiued 'Breaking Barriers.. detailing 4 years of impact. That report outlines an detailed and advanced review of impact, which has been well received by the sector for a robust approach to Impact evaluation. demonslraling sector-leading Impact. The full retJ)rt is available here https.. That report also outlines OLbr partners and funders who have ena￿￿ed us to deliver this important work, and lo whom we would like to restate our deepest thanks and appreciation. Looking fonvard: the n8ed We see extensive and growing need for peO￿e who are unemployed and undèr-employed across the UK. At the end of of 2023 there were more than 1 m unemployed people in the UK, and facing signifunl ba￿lers. There has also been a growing number of people dassified by 'inaetive' in govemment statistics, bLrt whom respond via suNeys that they are actively inleresled and k)oknng ff

work. In lolal then we believe there are several million people across the UK who siand to benefit from education-to-employment programmes such as that offered by Generation. Unemployment is also disproportionately experienced by ￿ri81n groups wth huge variances. For example young people. ethnic mir￿111es. those with disabilitEs or wiihoul degrees are Iwice or more as likely lo be andlor remain unemployed. There are also c.0.8m young people aged <24 Nol in Education. Employment or Training INEETI. And at the same lime, the￿ are >1 m vacanaes in the UK, with many new, exciting, well-paid jobs being created in growth sectors,. enough lo support everyone into work. Despite this. businesses of all sizes COllSiStently struggle to hiie. And when they do hire, tradttional channels overfook key groups and under-representalion persists- only a 5th of tech sector workers are women or ethnic minorities Beyond this, many who do find wort( find Kmxjr. low-skill. k)w-pot8nlial work as 1 in 8 remain in in-work poverty and the cost of living crisis drives more into poverty. disproportionately affecling those on low incomes. And the result is continuing. entrenching social immobility 2nd inequality (disproportionate in the UK relative to its peers) Thts underscores the reality". Ihere is a very large and clear skills gap auoss the UK. There are not enough people trained in the skills employers need. Existing and fflainslream skilling inib'atives are still rx)t sufficEnt to solve these challenges with success at scale. Multiple initiatives and varied provision have been invesled In at scale over the last 10 years, bul have typically seen low job outccffies and have not sufficienly addressed the gap. Nor are most well placed lo address the emerging and growing gaps in new sertors Generation seeks to make a significanl contribution to this problem. building on our learnings and success8S to dal8. W8 $88 th8 need, and the OPFM)rtunity, to support many p8ople facing barrièrs to 8mployment into life-changing careers that otherwise wnay be inaccessible to them. We have been delighted to be part of the Department for Education's exploration and subsequently scaling of the flagship Skills 8ootcamp pdicy. Indeed, Generation has become the largest charity working with the government on this critical initiative. With £1.5bn pledged to that policy over 6 years. from 2022-2028, there is sufficient funding to train s8veral hundred thousand people. Generation are proud of it's role in damonslrating the polenlial of this mC￿e1. and our owoing rde in delivering under Ihis Fk)licy.

FINANCIAL REVIEW Total incorne for the year ended 31 December 2023 was £4,942.418 which had grown significantly from 2022 income of £4,782.409. Growth in income was driven by increases in govemmenl fLJnding through the completion of two large ESF contracts. growing commissioning from the Department for Education. and contracts with local govemmenl in Scotland. Income also grew from Cort¥Nale Social Responsibilrty funding. creating a balanced and Sustainable model. Total spend for the year ended 31 Decerrt)er 2023 was £4.932.927 12022-. £4.780.6661. Spend increased to support the significant scale up of the charity- Increase in costs was largely in staff costs as thè team size grew to an average of 74 employees in 2023 (2022= 691 lo sJptMM the in￿eased adivity- Contractor costs also increased as we used some outsourced instructors and wnentor£ alongside own staff for some of the newer prograwnme5. The net financial result for the year was a surplus of £9,491 12022= £1.7431- At the year-end lolal reserves amounted to £565,971 12022". £556,480) and ￿MpriSed unrestricled reserves of £387,96912022.. £556,480) to be used t9 5UPPOrt the charivs charitable activikne$ and iestriGted ￿8￿rveS to be expensed on a specific purpose of £178.00212022.' £nill Cash balances are slrong with a year end cash balance of £1.489.732 (2022.. £941.137) Re$er¥es policy The Trustees have reviewed the reserves p)licy and agreed Ihal a figure of 2 months operating costs is an appropriate level of free reserves. The level of reserves al the end of 2023 was above this. As the orgarbisation grows the ie5erves wlicy wll be reviewed to ensure it is still appropriate. PLANS FOR FUTURE PERIODS Looking fonvard: Generation's role Folowing a successful and impactful 2023, we are ambitious for wh3t we can achieve goirhg forward. Generation aims lo be Ihe leading charity provider of skn.lts bootcamps acrDSS the UK. as rneasured by scale and by impact. We will continue to support people facing bamers to employment across the UK, Our approach and framework to maximise impact was significantly enriched and deepened over 2023 thanks lo the support of our parnters, and our collaboration with Impetus - a leading organisatTron that works With the best tharitie5 in the UK to idenlrfy ways to scale and increase impacl.ln doing so we hope to wider awareness of the challenges, opportunities and inspire mtxe action and changes in the system. We set ambitious targets for our i)wn delivery using a framework desI￿ed to maximise impact. That specifically sets targets for our.. Breadth ot impact: how many learners we 9JPPOrt Depth of impad.. the impact we have wtth Ihose pwple over Ffr12 months in temis of job OLrtcomes and stsrting salaries Durability of impact: the longer temi impact measured by job retention. progression. and improvements in personal and financial well being We also tsrgel serving a dThierse set of leamers who are f￿Ing specific and prominent baryiers lo employment ac¥oss the UK. Achieving these goals. and erealing this impacL requires us to build a strong organisatK)n. As such. we also have a sel of largels around organisalional strength, and financial resilience. TRUSTEES. RESPONSIBILITIES STATEMENT The trustees, who are also directors for Ihe purposes of company law. are ￿ponSIble for preparing the trustees. report and the financial statements in accordance wth applicable law, and United Kirbgdom Accounting Standards (United Kingdom Generally Accepted Actx)unting Practice). Company law requires the charitable company tmstees to prepare financial slalemenls for each year which give a and fair view of the stale of affairs of the charitable company and the incoming resources and application of reswrces, ircluding the income and expenditure, for that period. In preparing these financial statemenls, the trustees are required to.. select Suitable accounting policies and then apply them consistently- obseNe the methods and prinCip￿S in the applicable Charities SORP- _ make judgments and accounb'ng estimates thal ar8 reasonable arml prudent.. prepare the financial stalem8nts on th8 going concern basis LJnle5S It is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accountirg records that are sufficient lo show and explain Ihe tharilable companls transactions and disclose with reasonable accuracy at any time the financial position of the aritable ¢ompany and eneble them to ensure that the ffinan(xal statements ¢omply 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 delection of fraud and other i￿egUlaritieS.

AUDITOR Each of the persons who is a trustee al the dale of approval of this report confirms that: so far as they are aware. there is no relevant a￿111 inforniation of which the charitable company's auditor is unaware- aT)d - they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charttable C4)Mpan￿S auditor is aware of that infomialion. SMALL COMPANY PROVISIONS This report has been prepared in accorda￿ with the provisions applicable to companies entiued lo the small companies exemption. The trustees. annuJ report was approved on 24 Juty 2024 and signed on behaf of the board oftrustees by: Darne V Y Hunt Trustee

GENERATION: YOU EMPLOYED, UK COMPANY LIMITED 8Y GUAFtANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GENERATION: YOU EMPLOYED, UK YEAR ENOED 31 DECEMBER 2023 OPINION We have audited the financial statements of GeneratrJn-. You Employed, UK {the 'chaTitable companVI for the year ended 31 December 2023 which comprise the stalemenl of financial activilies (including income and expenditure accounll. statement of finanoal p￿tiOn, statement of cash flows arvj the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United KiNgdom Accountirbg Slandards. induding FRS 102 The Finanoial Repotting Standard applicable in the UK and Republic of IrelarKI (United Kingdom Generally A(xepted Accounting Praclicel. In our opinion the financial statemenls= give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and applicakn'on of resour￿$, induding its income and expenditure, for the year then ended,. have been properfy prepared in ￿ordan￿ with United lQ"ngdoffl Generally Accepted Accounting Practice., - have been prepared in accordance with the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordan￿ with Inlemal onal Stsndards on Audits'ng IUKI IISAS IUKI} and applicable law. Our responsibilities under those stsndards are further described li the audilorfs responsiblibes for the audil of the financial slalements sedion of our report. We are independent ol the charitable company in accordance with the ethical requirements that are relevant lo our audit of Ihe financi81 statements in Ihe UK, including the FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance with these requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial stalernents. we have concluded that the trustee5' use of the going concern basis of accounting in the preparation of the financial staternenls is appropriate. Based on the work we have perfomied, we have not idenlffied any material Un￿rtaInlieS relating to events or conditions Ihat, individually or collectively, may cast s gnificant doubt on the charitable cornpany's ability lo continue as a going concern for a period of at least twelve month5 frortb when the financial statement5 are aulhorised for issue. Our responsibilities and the resportsibilities of the lryslees wilh respect to going concern are described in the relevant sections of this report.

OTrIER INFORMATION The other information comprises the infomiation incfuded in ihe annual report. olher than Ihe financial statements and our auditor's report Ihereon. The trustees are responwble for Ihe other infomialion. Our opinion on the fir)ancial statements does nal cover the other information and. except to the extent otherwise expliciuy Stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with Ihe financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misststements, we are required lo delermine whether Ihere is a material misstatement in the financial statements or a material misstatement of the olher information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. OPINIONS ON OTHER MArrERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the ￿urse of Ihe audit- the information given in Ihe trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and - the truslees. report has been prepare(l in accordance with applicable legal requiremenls. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understsnding of the charitable company and ils environment obtained in the course of the audit, we have not identified material misstatements in the trustees. report. We have nothing lo report in respect of the following matters in relation lo which the Companies Act 21K)6 requires us to report to you if, in our opinion- 2dequ2tè accounting recx)rds have nol been kept. or retLJms adequate for our audit have not been re￿iVed trom branches not visited by us., or - Ihe financial slatemenls are nol in agreement with Ihe accounting re¢ords and returns.. or - certain disdosures of trustees, remuneration specified by law are not made., or - we have not received all the infomiatDn and explanations we "equire for our audit.. or- the trustees were not enlilled to take advantage of the small companies. exemptions in preparing the directors. report and from the requirement to prepare a strategic report. RESPONSIBIUTIES OF TRUSTEES As explained more fully in the trustees, restx)nsibilib"es statement, the trustees (who are also the directors for the purposes of company lawl are responsible for the weparatson of the ffinancial 5talernent5 and for being satisfied that they give a true and fair view. and for such intemal conlrcA as the Iruslees delemiine is necessary to enable Ihe preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements. Ihe trustees are responsble for assessing the charitable company's ability to continue as a going concem. disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees erther intend lo liquidate the charitable ciNnpany or lo cease operations, or have no realistic altemalive bui lo do so.

AUDITOR'S RESPONSIBILITIES FOR THE AUD￿ OF THE FINANCIAL STATEMENTS Our objectives are lo obtain reasonable assuiance about whether the finanGial statetnevls as a whole are free from material misstalernenl, whether due to fraud or err(Y. and to issue an aLJdrtor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is nct a guarantee that an audit conducted in accordarice with ISAS IUKI will always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. Ihey could reasonably be expected to influence the economic decisions of users taken on the b8sis of these financial slalements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstalemenls in respect of irregularities, including fraud. The extent to which our priKedures are capable of detecting irregularikneE including fraud is detailed below.. We have undertaken high level reviews of the results and position of the -harity for the year in question, and have considered the effects of the industry and wider economy on the company. We have made enquiries of management regarding the Gharitys own risk assessment priwlures and 8ny idenlified irregulaiilies, including fraud. identified in the year. We have used our knowledge and Unde￿landing of the charity's business. including the remuneration ol key management personnel, to assess how an¢J where irregularflies, Including fraud. might arise and we have planned our lesling using a risk based approach. We have considered the potential for irregularits'es. including fraud. in all our testing Iwt have also carried out specific tesling to comply with the ISA IUKI requirements regarding management override of controls. A5 part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. _ Identify and assess the risks of material misstatement of the financial slalements, whether due to fraud or error. design and perform audit prOc￿l￿re$ responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not delecliig a malerial misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentslions. or the override of internal control. - Obtain an uiderstarding of intemal control relevant to the audit in order lo design audit procedures that are appropriate in the circumstances. bul not for the pUr￿se of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounlj'ng policies used and the r82sonableness of accounting eslimales and related discosures made by the trustees. Conclude on the approprialene55 of the trustees, use of the going concem basis of accountiru and, based on the audit evidence obtained. whether a material uncethnty exists related lo evenls or conditions that may cast significant doubt on Ihe tharitable companls ability to continue as a going (xjncem. If we Cl￿dUde that a material uncertainty exists, we are required to attention in our auditor's report to the related disdosures in the financial stalemenls or, if such disclosures are inadequale, lo modify our opinion. Our concI￿lOnS are based on the audit eviden￿ obtained up to the dale of our auditorfs retx)rt. However, fulure events or ￿￿dItiONS may cause the charitable company lo cease to continue as a going concem. Evaluate the overall presentation. structure and content of the financial statements, including Ihe disclosures, and whether the financial statements represent the underfying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding. among other matters. Ihe planned scope and liming of the audit and significant audit findings. including any significant deficiencies in intern￿ control that we ￿￿entIfy during our audit. USE OF OUR REPORT

This report is made solely lo the charitsble companys memlxrs, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audil work has been undertaken so that we might stale to the charitable companys members those matters we are required to slate lo them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyDne other than the charitable company and the charitable company's members as 8 body. for our audit work. for this report. or for the opinions we have lomied. David Kelland FCA {Senior Stalulory Auditor) For and on behalf of Meadows a Co Limited Chartered Accountants & Statutory Auditor Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ 25 July 2024

GENERATION: YOU EMPLOYED, UK COMPANY LIMITED 8Y GUAFtANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUN YEAR ENDED 31 DECEMBER 2023 2023 2022 Unrestricted ftjnds Rèstricted funds Total funds Total funds Income and endowments Donations and legacies Charitable aclivities 195.808 216.437 4,557.387 111,2501 4.753,195 205,187 4.323,346 459,063 Total income 412.245 4,546.137 4.958.382 4.782,409 Expenditure Expenditure on raising funds- Costs of raising donab'ons and legaaes Expenditure on charitable activities 84.338 4.267.833 84,338 4.867,729 44,853 4.735,813 599.896 Total expenditure 599.896 4.352.171 4.952,067 4.780,666 Net income and net movement in funds 1187.6511 193.966 6.315 1,743 Reconciliation of funds Total funds brought forward 556.480 556.480 554,737 Total funds cathed forward 368.829 193,966 562,795 556,480 The statement of financial activitie5 includes all gains and loY&es re￿)gnised in the year. All income and expenditure derive from continuing aGtivtbes.

GENERATION: YOU EMPLOYED, UK COMPANY LIMITED 8Y GUAFtANTEE STATEMENT OF FINANCIAL POSITION 31 December 2023 2023 2022 Note FIXED ASSETS Tangible fixed assets CURRENT ASSETS Debtors 13 68.976 106,349 14 457.513 1.489.732 753,349 941,137 Cash al bank and in hand 1.947.245 1,694.486 CREDITORS: amounts falling due within one year 1S 1.453.426 1.244.355 NET CURRENT ASSETS 493,819 450,131 TOTAL ASSETS LESS CURRENT LIABILITIES 562,795 556,480 FUNDS OFTHE CHARITY Restricled funds Unrestricted funds 193,966 368,829 556,480 Total charity fund¥ 17 562,795 556,480 These financial stalements have been prepared in accordance with fv provisK)ns applicable lo companies subject to the small companies, regime. These finanGial statements were approved by the board of trustees and aulhorised for issue on 24 July 2024 and are signed on behalf of the board by.. Dame V Y Hunt Truste8

GENERATION: YOU EMPLOYED, UK COMPANY LIMITED 8Y GUAFtANTEE STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2023 20Z3 2022 CASH FLOWS FROM OPERATING ACTIVITIES Nel income 6.315 1,743 AdjuSt￿entS for.. Depreciation of tangible fixed assets Interest payable and similar charges Changes in.. Trade and other debtor5 56,469 12,601 42,011 16,810 295,836 50.651 77,860 234,952 Trade and other creditors Cash generated trom operations Interest paid 421.872 373,376 { 16.8101 (12,601) Nel cash frorn operating actNities 409,271 356,566 CASH FLOWS FROM INVESTING ACTIVIMES Purchase of tangible assels { 19,096) 1101,7921 Nel cash used in investing ￿li￿￿e5 { 19,096) 1101,7921 CASH FLOWS FROM FINANCING ACTivrnES Proceeds from borri)wings Proceeds from loans from group undertakings 445,581 1123,5951 1287,1611 1308,2461 Nel cash fromllused in) financing activities 158.420 1431,8411 NET INCREASEI{DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 548,595 941.137 1177,0671 1,118,204 CASH AND CASH EQUIVALENTS AT END OF YEAR 1.489.732 941,137

GENERATION: YOU EMPLOYED, UK COMPANY LIMITED 8Y GUAFtANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 1. GENERAL INFORMATION The charitabl& company is a public ertity and a private company limiled by guarantee. Tegistgred in England and Wales and a registered charity in England and Vlales. The address of the registered office is Generation.. You Employed, UK. One High Street: Egham. Surrey. TW20 9HJ. 2. STATEkfjENT OF COMPLIANCE Thes& financial stalements have b88n prepared in compliance with FRS 102. 'The Financlal Reporting Standard applicable in the UK and the Republ￿ of Ireland. issued in or.ober 2019, the Staternent of Recommended Piaclice applicable lo charities prepanng their accounts in accordance wilh the Finanaal Reporting Standard applicable in the UK alld RepLJblic of Ireland (FRS 102) {Charities SORP IFRS 102)) and the Companies Act 2006. 3. ACCOUNTING POLICIES Basis of preparation The financial slalernellts have b￿n prepared on the historical cost basis. as rrKKlified by the revaluation of cerlain financial assets and liabilities and inveslmenl properknes measured at fair value Ihrough income or expenditure. The financial staternents are prepawl in steding, which is the functional CUrre￿Y of the entity. Going concern Ggneralion maintains an annual budget for income and costs, which at this point extends through to December 2022 and a 12-month cash flow forecast which extends to May 2023. The 2022 budget outlines a plan with sufficient capital to support the planned expansion. whilst operatiwvJ with reserves in line with the company's reserves policy. Much of the funding required to support expansion is now already secured. Generation also continues lo submit additional funding appli(3tions. which will likely result in additional capital for existing and new provisions, again providing more cash cover. As such. we co￿lUde that rt is appropriate to prEpare the accounts on the going con￿rn basis. Judgements and key sourees of estimation uncertainty The preparation of the financial slalements requires management to make judgements, estimates and assumptions Ihat affect the amounts reported. These eslimales and judcements are conlinually reviewed and are based on experien￿ and other factors. including expectations of fvlvre events that are believed to be reasonable under the circumstances. Foreign currencies Foieign currency transactions are initially recorded in the functional currency. by applying the 5POt exchange rdte as at the dale of the transaction. Monetary assets and liabilities denominated in foreign currencaes are translated at the exchange rale ruling at the reporling date, with any gair6 or losses being taken lo the ststemenl of financial activities.

Fund accounting Unrestricted funds are available for use at the discretion of the truslees to further any of the charity's purposes. Desigr)aled fLJnds are unreslricled fvnds earmarked by the tnjstees for particular future project or commitment. Resthcted funds are subjected lo restricbons on their expenditure dedared by the donor or through the terms of an appeal. and fall into one of two sub-dasses". restricted income lunds or endowment funds. Incoming resources All income is included in the statement of financial activities when entitlement has Passed to the charity, il is probable that the economic benefrts associated wtlh the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular ￿tegOrieS of income.. income from donations or grants is recognised when there is evidence of enlttlemenl lo the gift. receipt is probable and ils amount can be measured reliably. income from dorated wods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilrties and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are Included for the wnlribul#)n of general vdunteers. income from ct)ntracls for the supply of 5eTvices is recognisel with the delivery of the contracted service. This is classified as unrestricted fur￿5 unless there is a contractual requirement for it lo be spent on a particul& purpose alld relumed rf unspent, in which case il may be regarded as reslricled. Re$ource$ expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannol be fully recovered, and is classified under heajings of Ihe slatemenl of financial activities to which il relates.. expenditure on raising lunds indudes the costs of all fundraising activities, events, non-chari18ble trading activities. and the sale of donated goods_ expenditure on charilatrAe activilies includes all costs incurred by a charity in undertaking activities that fvrther Ils charitable aims lor the benefit of ils beneficiaries, including those support costs and costs relating to the governance of the charity apwrtioned to charitsble activities. other expenditure includes all expenditure that is neither related to raising fijnds for the charity nor part of ils expenditure on charitable activities. All costs are 211oealed to expenditure categories ref ecting the u9e of the resource. Direct costs attributable lo a single activity are allocated directly to th81 activity. Shared costs are apportioned between the activities they contribute lo on a reasor)able, juskn"fiable and consislent basis. Tangible assets Tangible assets are initially recorded al cosL and subsequenuy stat￿j at cost less any accumulated depreciation and impairrnent losses.

Depreciation DepreG13t1￿ is calculated so as to write off the or valuation of an asset. less its residual value, over the useful economic life of that asset as follows= Plant and machinery Impainnent of fixed assets A review for indicators of impairment is carried out al each reporting date, with the recoverable amount being esb"maled where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are 81so reviewed for possible reversal at each reporb.ng dale. Foreign currency Foreign currency transactions are iniknalty recorded in the function21 eurreney. by applying the spot exchange rate as at the dale of the transaction. Monetary assets and liabilities denominated in foreign currencies are translate¢J at the exchange rale ruling at the reporting dale. with any gairts or losses being taken lo the statement of financial activities. Flnanclal Instruments A financial asset or a financial liatilily is recognised only when Ihe entity becomes a party lo the contractual provisions of the instrument. Basic ffinancial instruments are irmtially recognised al the amount receivable or payable including any related transaction costs, unless Ihe arrangement constilutes a finan¢ing transaction, where il is recx)gnised al the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilib.es are subsequenuy measured at the cash or olher consideration expected lo be paid or received and not discounted. Defined contribution plans Contributions to defined contribulion plans are recognised as an expense in ihe period in which Ihe related sernice is provided. Prepaid contributions are wognised as an asset to the extent that the prepayment wdl lead lo a reduction in future payments or a cash refurKI. When cOntrib￿lOnS are not expected lo be settled wholly within 12 months of the end of the reporting dale in which the employees render the relaled service. the liability is measured on a discounted p￿sent value basis. The unwinding of the discount ts recognised as an expense in the period in which it arises. 4. LIMITED BY GUARANTEE The company is limited by ￿arantee. The sole member of Ihe Charity has agreed to contribute to the assets in the event of a deficiency on winding up of an aTTK)unt not exceedirvJ £1. 33¥0 straight line 5. DONATIONS AND LEGACIES Unreslricte Funds Restricled Total Funds Funds 2023 DONATIONS In kind contributions from donc 146,483 96.100 242.583

GRANTS Corporate and Business Grants Foundation and Trust Grants 13.431 2.153,326 2.294.530 13,431 2,153.326 2,294.530 Goveinment grants OTHER DONATIONS AND LEGACES Other income 49,325 49.325 195.808 4,557.387 4,753.195 Unresthcted Funds Restricted FurKJs Total Funds 2022 DONATIONS In kind contributions from donc 246.014 246,014 GRANTS Corporate and Business Grants Foundation and Trust Grants Government granis OTHER DONATIONS AND LEGACES Other income 47,919 177.210 2,228,575 1,462.494 225,129 2,228,575 1,462,494 161.134 161,134 209.053 4.114.293 4,323,346 Generation." You Employed. UK is grateful to Wework for the dOnat￿j services in respect of rent durirng the year tolalling £246,01412022.' £155.6641. . CHARITABLE ACTIVITIES Unreslricted Funds Restrided Total Funds Funds 2023 Empbyer income 216.437 { 11,2501 205,187 Unrestricted Fund5 Restricted FutKIs Total Funds 2022 Employer inc4)me 447.813 11,250 459.063 7. COSTS OF RAISING DONATIONS AND LEGACIES Restricted Total Funds FJnds 2023 Restricted Funds Total Funds 2022 Costs of raising donations and legacies- Grants receivable 84,338 84.338 44,853 44.853

  1. EXPENDITURE ON CHARITABLE AcTIV￿lEs BY FUND TYPE Unrestricted Funds Restricled Total Funds Funds 2023 Overheads Supwrt costs 78,423 521,473 754.156 3,513,677 832,579 4,035.150 599.896 4,267,833 4,867,729 Unrestricted Funds Restricted Furyjs Total Funds 2022 Overheads Support costs 84,6 355.742 793.637 3,501,744 878.327 3,857.486 440.432 4,295,381 4,735.813
  2. EXPENDITURE ON CHARITABLE AcTIV￿lEs BY ACTMTY TYPE Aciivltbes undertaken directly Support costs Totsl funds 2023 To181 fund 2022 Overheads Governan￿ costs 832,579 3,799,720 235.430 4,632,299 235.430 4,452,131 283,682 832.579 4,035,150 4.867,729 4.735,813
  3. NET INCOME Nel income is slated after chargingl{creditingl: 2023 2022 Depreciation of tangible fixed assels Foreign exchange differences 56,469 12,709) 42,011 291
  4. STAFF COSTS The total staff costs alld employee benefits for the reporting period are analys￿ as follows.. 2023 2022 Wages and salaries Employer ts)nlributions to pension plans 3.262.696 2,876.271 69.036 3.262.696 2,945.307 The average head counl of employees during the year was 74 (2022= 68 ). The average number of full-llre equivalent employees during the year is analysed as fdlows". 2023 2022 No. No. Management Programrne delivery Support functions 63 56 74 69

The number of employees whose remuneralio)n for the year fdl wilhin 1he following bands. were: 2023 2022 No. £70.000 to £79.999 £260,000 to £269,999 For both years the above disclosure includes 1 member of stsff employed by Genefalion Global bLrt processed through the UK payroll and the cost 15 recharged to Generalion Global. Key IAanagÈment PersonnÈl Key management personnd include all persons Ihal have authority and responsibility for planning, directing and controllillg the acbvilies of the charity. The total compensab.on paid to key management personnel lor services provided lo the charity was £265,41712022.. £274,984). 12. TRUSTEE REMUNERATION AND EXPENSES No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. One trustee claimed and had their travelling expenses reimbursed of £Nil (2022.. £431. 13. TANGIBLE FIXED ASSETS Plant and machinery Cost At 1 January 2023 Addits'ons 175,913 19,096 At 31 December 2023 195,009 Depreciation At 1 January 2023 Charge for the year 69,564 56,469 At 31 D￿embOr 2023 126,033 Carrying amount At 31 December 2023 68,976 At 31 December 2022 106.349 14. DEBTORS 2023 2022 Trade debtors 86,712 79.140 261.219 30.442 656.924 30,995 25.835 39.595 Amounts owed by group undertakings Prepayments and accrued income Other debtors 457.513 753.349

  1. CREDITORS: amounts falling dug Within ong ygar 2023 2022 Bank loans and overdrafts 532.553 14.729 44.319 83.564 778,261 86.972 7.473 331.480 88.199 730.231 Trade credf(ors Amounts owed to group undertakings Social security and Dlher taxes Other creditors 1.453,426 1,244.355
  2. PENSIONS AND OTHER POST REnREMENT BENEFITS Deflned eontributlon plans The amount recognised in income or expenditure as an expense in relalion lo defined contribution plans was £Nil 12022.. £ 69,0361.

  3. ANALYSIS OF CHARITABLE FUNDS Unrestrlcted funds At 1 January 2023 At31 Transfers Decem￿r 2023 InrA)rne Expendtlure General funds 556.480 412.245 (599,8961 368,829 At 1 January 2022 At 31 December 2022 Income Expenditure Tr￿SferS General funds 370.515 (440.432) {30.4691 556,480 Restricted funds At 1 January 2023 At31 Transfers December 2023 Income Expenditure Restricted Funds 4.546.137 14.352.171) 193,966 At 1 January 2022 Al 31 December 2022 Inu)me Experiditure T￿Sfe Restricled Funds 184.222 4.125.543 {4.340.234) 30,469 The application of the al)ove reserves is restricted to the charitable objectives of this Company.

  4. ANALYSIS OF NET ASSEfs BETWEEN FUNDS Unrestricted Funds Restricled Total Funds Funds 2023 Tangible fixed assets Current assets 68,976 1,232,456 1932.6031 68,976 1,947.245 11.453,4261 714,789 1520.8231 Creditor5 less than 1 year Net assets 368.829 193,966 562.795 Unrestricted Funds Restricted FuThYs Total Funds 2022 Tarbgible fixed assets Current assets 106.349 953,126 {502.9951 106.349 1,694,486 11.244,3551 741,360 {741.3601 Creditors less than 1 year Credilors greater Ihan 1 year Net assets 556,480 556.480

  5. ANALYSIS OF CHANGES IN NET DEBT At 31 Dec 2023 At 1 Jan 2023 Cash flows Cash al bank and in hand Debt due within one year 941.137 {418.4521 548,595 1158.4201 1.489.732 {576.B72) 522.685 390.175 912,860
  6. RELATED PARTIES There were no related party transact'ons olherthan th()5e disck)sed wilhin these accounts that require disdosure.
  7. PERSONS WITH SIGNIFICANT CONTROL The immediate parent undertaking is Generation.. You Employed. Inc.. a Charity incorporated in the US. by virtue of its sole fflembership of the company. The parent's principal purpose is to empower y(xJng peq)le to build thriving. sustainable careers through delivery of education and training developed with potential employers. Control is exercised by the parent thrr￿gh appointing it's own Chief Execulive Officer as a diredor and trustee of Generation= YOLJ Employed. UK The consolidated accounts that indude this charity can bè oblainèd from 1616 H_ Street NW Surte 820 Washington. DC 20006.

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