| Page | |||
|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, its Trustees and Advisers | ||
| Trustees' Report |
2-11 | ||
| Independent Auditors' |
Report | on the Financial Statements | 12-14 |
| Statement of Financial | Activities | 15 | |
| Balance Sheet | 16 | ||
| Statement ofCash Flows | 17 | ||
| Notes to the Financial | Statements | 18-28 |
| Trustees | Thomas Attwood | Thomas Attwood | ||||||
|---|---|---|---|---|---|---|---|---|
| Comelius Becker | (resigned | 29 September | 2022) | |||||
| Juan Antonio Campos | Benitez (appointed | 28 September 2022) | ||||||
| Robert Joseph Citrino | IV (appointed | 28 September 2022) | ||||||
| Sir Kevan Collins | ||||||||
| Richard Donner | ||||||||
| Richard Eamshaw | ||||||||
| Caroline Lofgren |
||||||||
| Anna Martina Sanow | ||||||||
| Gero Wittemann | (resigned | 18October 2022) | ||||||
| Genyi Zhao (appointed | 28 | September | 2022) | |||||
| Charity registered | ||||||||
| number | 1189216 | |||||||
| Principal office | 2 More London Riverside | |||||||
| London | ||||||||
| SE1 2AP | ||||||||
| Chief executive officer | JTurner (since September | 2022) | ||||||
| Independent | auditors | RPG Crouch Chapman | LLP | |||||
| 14-16Dowgate | Hill | |||||||
| London | ||||||||
| EC4R 2SU | ||||||||
| Bankers | RBS International | |||||||
| 7th Floor | ||||||||
| 1 Princes Street | ||||||||
| London | ||||||||
| EC2R 8BP | ||||||||
| NatW est | ||||||||
| 10Southwark Street |
||||||||
| London | ||||||||
| SE1 1TJ | ||||||||
| Solicitors | Charles Russell | Speechlys | LLP | |||||
| 5 Fleet Place | ||||||||
| London | ||||||||
| EC4M 7RD | ||||||||
| Shoosmiths LLP |
||||||||
| The XYZ Building | ||||||||
| 2 Hardman Boulevard |
||||||||
| Manchester | ||||||||
| M3 3AZ | ||||||||
| Tax and Legal | Deloitte LLP | |||||||
| Abbotts House | ||||||||
| Abbey Street | ||||||||
| Reading | ||||||||
| RG1 3BD |
| As restated | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | ||||
| funds | funds | funds | ||||
| 2022 | 2022 | 2021 | ||||
| Note | 6 | 6 | ||||
| Income from: | ||||||
| Donations and |
legacies | 4 | 1,474,090 | 1,474,090 | 4,576,315 | |
| Total income | 1,474,090 | 1,474,090 | 4,576,315 | |||
| Expenditure on: |
||||||
| Charitable activities |
6 | 2,231,673 | 2,231,673 | 664,971 | ||
| Total expenditure | 2,231,673 | 2,231,673 | 664,971 | |||
| Net movement | in funds | (757,583) | (757,583) | 3,911,344 | ||
| Reconciliation | offunds: | |||||
| Total funds brought | forward | 3,911,344 | 3,911,344 | |||
| Net movement | in funds | (757,583) | (757,583) | 3,911,344 | ||
| Total funds carried forward | 3,153,761 | 3,153,761 | 3,911,344 |
| Note | 2022 E |
2021f | ||||
|---|---|---|---|---|---|---|
| Current assets | ||||||
| Debtors | 10 | 778,660 | 735,355 | |||
| Cash at bank and | in hand | 15 | 2,927,682 | 3,384,021 | ||
| 3,706,342 | 4,119,376 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 11 | (552,581) | (208,032) | |||
| Net current assets | 3,153,761 | 3,911,344 | ||||
| Total net assets | 3,153,761 | 3,911,344 | ||||
| Charity funds | ||||||
| Restricted funds | 12 | |||||
| Unrestricted funds |
12 | 3,153,761 | 3,911,344 | |||
| Total funds | 3,153,761 | 3,911,344 |
| STATEMENT OF CASH FLOWS | STATEMENT OF CASH FLOWS | |||
|---|---|---|---|---|
| FOR THE YEAR ENDED 31 MARCH 2022 | ||||
| 2022 | 2021 | |||
| E | E | |||
| Cash flows from operating | activities | |||
| Net cash used in operating | activities | (456,339) | 3,384,021 | |
| Cash flows from investing | activities | |||
| Net cash provided by investing activities |
||||
| Cash flows from financing | activities | |||
| Net cash provided by financing activities |
||||
| Change in cash and cash |
equivalents in |
the year | (456,339) | 3,384,021 |
| Cash and cash equivalents | at the beginning | ofthe year | 3,384,021 | |
| Cash and cash equivalents | at the end of | the year | 2,927,682 | 3,384,021 |
| The notes on pages 18to 28 form part ofthese financial statements |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 f |
2022 f |
|||
| Donations | 1,474,090 | 1,474,090 | ||
| Unrestricted | Total | |||
| funds | funds | |||
| 2021f | 2021f | |||
| Donations | 4,576,315 | 4,576,315 | ||
| 5. | Analysis ofgrants | |||
| Grants to | Total | |||
| Institutions | funds | |||
| 2022f | 2022f | |||
| Grants for educational | projects | 2,213,839 | 2,213,839 | |
| Grants to | Total | |||
| instituti ons | funds | |||
| 2021f | 2021 | |||
| Grants for educational | projects | 646,186 | 646,186 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| 6 | 6 | |||||||
| Analysis ofgrants made |
||||||||
| The Online Tutoring Pilot |
—Impetus | 50,000 | ||||||
| Imperial College London: |
A-Level | Further | mA*ths Online Programme | 290,000 | 270,217 | |||
| Generation Plus: Ton Emploi |
368,043 | |||||||
| Technical University of Munich |
(TUM); MINT-Impulse | an der | Schule | 262,662 | ||||
| Merit America; Data and | Evaluation | Program | 209,977 | |||||
| upReach Tech 500 |
655,648 | |||||||
| Education Policy Institute |
25,200 | |||||||
| The Tutor Trust —Hybrid | Tutoring | Pilot | 100,000 | |||||
| Laptop Donations | 3,806 | 16,242 | ||||||
| SEO Sponsors for Educational | Opportunity | —Tech Developer | Programme | 409,072 | 113,880 | |||
| Charity Committee —Impetus | 15,000 | |||||||
| Other | (10,569) | 80,847 | ||||||
| 2,213,839 | 646,186 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2022 | |||
| 6 | ||||
| Grants for educational | projects | 2,213,839 | 2,213,839 | |
| Administration | ofthe | charity | 17,834 | 17,834 |
| 2,231,673 | 2,231,673 | |||
| Unrestricted | Total | |||
| funds | funds | |||
| 2021 6 |
2021f | |||
| Grants for educational | projects | 646,186 | 646,186 | |
| Administration | ofthe | charity | 18,785 | 18,785 |
| 664,971 | 664,971 |
| Grant | ||||
|---|---|---|---|---|
| funding of |
Support | Total | ||
| activities | costs | funds | ||
| 2022 | 2022 | 2022 | ||
| 6 | ||||
| Educational | projects | 2,213,839 | 2,213,839 | |
| Administration | ofthe charity | 17,834 | 17,834 | |
| 2,213,839 | 17,834 | 2,231,673 | ||
| Grant | ||||
| funding ol | Support | Total | ||
| activities | costs | funds | ||
| 2021 | 2021 | 2021 | ||
| 6 | 6 | 6 | ||
| Educational | Projects | 646,186 | 646,186 | |
| Administration | ofthe charity | 18,785 | 18,785 | |
| 646,186 | 18,785 | 664,971 |
| Total | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| F | 6 | |
| Audit Fees | 10,620 | 10,200 |
| Bank charges | 314 | 249 |
| Events | 2,604 | |
| General admin | 1,160 | |
| Insurance | 554 | |
| Legal Fees | 2,582 | 8,218 |
| Other Costs | 76 | |
| Subscriptions | 42 | |
| 17,834 | 18,785 |
| 8. | Auditors' | remuneration | remuneration | ||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| E | |||||||
| Fees payable | to the Charity's | auditor for the audit ofthe Charity's | annual | ||||
| accounts | 10,620 | I0,200 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| E | E | |||
| Due within one year | ||||
| Prepayments and accrued income |
778,660 | 735,355 | ||
| 778,660 | 735,355 | |||
| 11. | Creditors: Amounts | falling due within one year | ||
| 2022 | 2021 | |||
| 6 | E | |||
| Accruals and deferred | income | 552,581 | 208,032 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | 31 March | ||||
| April 2021 | Income | Expenditure | in/(out) | 2022 | ||
| E | F | E | ||||
| Unrestricted funds |
||||||
| Designated funds |
||||||
| SEO Sponsors for Educational | ||||||
| Opportunity —Tech |
Developer | |||||
| Programme | 1,111,890 | (409,072) | (702,818) | |||
| Imperial College London: A- |
||||||
| Level Further mA"ths Online |
||||||
| Programme | 569,783 | (290,000) | (279,783) | |||
| 1,681,673 | (699,072) | (982,601) | ||||
| General funds | ||||||
| General Funds - a0 |
funds | 2,229,671 | 1,474,090 | (1,532,601) | 982,601 | 3,153,761 |
| Total Unrestricted | funds | 3,911,344 | 1,474,090 | (2,231,673) | 3,153,761 |
| Statement offunds | - prior ye | ar | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Transfers | 31March | |||||
| income | Expenditure | in/(out) f |
2021 6 |
|||
| Unrestricted funds |
||||||
| Designated funds |
||||||
| SEO Sponsors for Educational | Opportunity— | |||||
| Tech Developer Programme |
1,111,890 | 1,111,890 | ||||
| Imperial College London: A-Level Further |
||||||
| mA"ths Online Programme | 569,783 | 569,783 | ||||
| 1,681,673 | 1,681,673 | |||||
| General funds | ||||||
| General Funds |
4,576,315 | (664,971) | (1,681,673) | 2,229,671 | ||
| Tota I Unrestricted | funds | 4,576,315 | (664,971) | 3,911,344 |
| Unrestricted | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2022 | 2022 | |||||
| E | ||||||
| Current | assets | 3,706,342 | 3,706,342 | |||
| Creditors | due | within | one | year | (552,581) | (552,581) |
| Total | 3,153,761 | 3,153,761 |
| Analysis | of n | et ass | ets | between funds - prior year | ||
|---|---|---|---|---|---|---|
| I/nrestncted | Tote/ | |||||
| funds | funds | |||||
| 2021 6 |
2021f | |||||
| Current | assets | 4,119,376 | 4,119,376 | |||
| Creditors | due | within | one | year | (208,032) | (208,032) |
| Total | 3,911,344 | 3,911,344 |
| 2022 | 2021 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 | |||||||||||||
| Net income/expenditure |
for | the | year | (as | per | Statement | of Financial | ||||||
| Activities) | (757,583) | 3,911,344 | |||||||||||
| Adjustments | for: | ||||||||||||
| Increase | in | debtors | (43,304) | (735,355) | |||||||||
| Increase | in | creditors | 344,549 | 208,032 | |||||||||
| Net cash | provided | by/(used | in) operating | activities | (456,338) | 3,384,021 |
| Cash | in hand |
|---|---|
| Total | cash and cash equivalents |
| 2022 F |
2021 f |
|---|---|
| 2,927,682 | 3,384,021 |
| 2,927,682 | 3,384,021 |
| At 1 April | At 31 March | |
|---|---|---|
| f 2021 |
Cash flows f |
2022 f |
| 3,384,021 | (456,339) | 2,927,682 |
| 3,384,021 | (456,339) | 2,927,682 |