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2024-12-31-accounts

The 93 Percent Club Foundation Charitable Incorporated Organisation

ANNUAL REPORT AND ACCOUNTS For the year ended 31[st] December 2024

Registered charity in England and Wales 1192823

OUR STATE SCHOOL ECOSYSTEM

WE’RE TRANSFORMING WHAT IT MEANS TO BE STATE EDUCATED IN BRITAIN BY BUILDING THE UK’S FIRST NATIONWIDE STATE SCHOOL ALUMNI NETWORK, GIVING ONE ANOTHER THE CONNECTIONS, INSIDER ADVICE AND SUPPORT THAT PRIVATE SCHOOL ALUMNI NETWORKS HAVE PROVIDED FOR GENERATIONS.

We’ve taken the design principles of private school alumni networks - social capital, affinity, and career advancement - and repurposed them for our state school ecosystem

OUR COMMUNITIES

93 STUDENTS

93% Students is the Club’s network of students across 53 campuses, brought together through our virtual Clubhouse. Led by students, our on-campus societies deliver tailored impact for their members where they are.

Our digital Clubhouse connects all members - whether part of a campus society or not, and is home to where we share jobs and opportunities, advertise national events, and operate #Support-a-Student, our online marketplace where students can shop for ad hoc, real time, support from professionals.

93 PROFESSIONALS

93% Professionals is our network supporting state-educated professionals as they thrive in their dream roles. We connect professionals across the UK through our online platform and bring them together for both in-person and virtual events.

Each membership follows a pay-it-forward model, with 50% of each professional membership funding a student member, while the remaining 50% is reinvested into events and the platform to support the community. In collaboration with select partners, membership is offered as an employee benefit, acting as a plug-and-play employee resource group.

93 CAREERS

93% Careers is our recruitment arm, connecting employers with top state-educated talent. We work with students and employers to help exceptional candidates secure their dream jobs.

CHANGING THE NARRATIVE

STATE SCHOOL PROUD

StateSchoolProud is our ongoing campaign to change the narrative around being stateeducated in Britain. Through this campaign we’re making it popular to be state-educated. By making being state educated a powerful brand in itself, we believe we can capture the zeitgeist and create a favourable environment to grease the wheels of policy reform.

Most importantly, by spreading state school pride, we encourage previously disparate state school alumni to band together and support the next generation, just as private school alumni networks have done for decades.

The 93% Club is a proud not for profit, meaning 100% of funds raised are reinvested in our mission to transform what it means to be state educated in Britain.

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FOREWORD

A message from our Chair

I am thrilled to be joining The 93% Club as the new Chair of Trustees. It’s been inspiring to see how much the Club has grown and the difference it makes for students from state-educated backgrounds, helping them take confident steps into their careers and beyond.

Even in my first months, I’ve been struck by the energy, dedication, and generosity of this community—students, alumni, professionals, and partners—all committed to supporting each other and opening doors. Sophie and the team have built something special: a network where ambition is nurtured and potential is unlocked.

As I settle into this role, I am excited to support the Board and leadership team as the Club continues to grow and evolve. I feel privileged to be part of this journey, and I look forward to what we can achieve together in the year ahead.

FOREWORD

A message from our founder and CEO

2024 has been a year of growth and momentum for The 93% Club. As we approach our ninth anniversary in 2025, it’s amazing to reflect on how far The 93% Club has come. When I started the Club at Bristol, I could never have imagined what we’d achieve - let alone everything we accomplished just this past year.

This year has been transformative. For the first time, we have a full-time team, which has allowed us to better support our student and professional networks and strengthen the relationships that make this community so special.

Our student leaders, professional members, and corporate partners have been essential in supporting our vision to transform what it means to be state-educated in the UK. From welcoming thousands of new students to hosting our largest Social Mobility Factory yet, the energy and commitment across the Club has been extraordinary.

Every mentoring conversation, CV review, and word of advice has reminded us why this community exists: to give people the connections, advice and support they need to succeed.

As we look to 2025, I feel grateful for everyone who has been part of this journey and I’m excited to build on what we’ve achieved and keep creating real impact for our incredible community.

STATESCHOOLPROUD

Sarah David

STATESCHOOLPROUD.

Sophie Pender

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Annual report and accounts for the year ended 31[st] December 2024

OUR IMPACT

Our student members

Our commitment to supporting state-educated students means our network naturally reflects a wide range of backgrounds and experiences.

73% 54% 35% 64% 31% 46% Educated in state First in their family Eligible for free Identify as Identify as identify as from black, comprehensives to attend university school meals women LGBTQ+ asian or mixed ethnic

Identify as Identify as identify as from black, women LGBTQ+ asian or mixed ethnic backgrounds

Members span the length and breadth of Britain

Outcomes

Largest 93% Student Clubs

Student members are landing their dream roles

Durham University

CONTENTS

Our state school ecosystem ............................................................................................................................................................3 Foreword.............................................................................................................................................................................................................5 A message from our Chair ................................................................................................................................................................................4 A message from our founder and CEO .................................................................................................................................................5 Our impact ........................................................................................................................................................................................................7 Our student members ............................................................................................................................................................................................7 93% students ..................................................................................................................................................................................................................8 93% employers ..............................................................................................................................................................................................................8 93% professionals .....................................................................................................................................................................................................12 Trustees’ annual report for the year ended 31st December 2024 .................................................................13 Achievements and performance including delivering public benefit .......................................................................14 Review of the charity’s financial performance for the period and financial position at the end of the reporting period ............................................................................................................................................................15 Structure, governance and management .........................................................................................................................................16 Looking ahead to 2025 ........................................................................................................................................................................................16 Report and unaudited financial statements ........................................................................................................................17

Of our 202224 graduating cohort

1879

University of Bath, University of Exeter, University of Manchester, University of Nottingham, University of Edinburgh, London School of Economics and Political Science

student members landed graduate roles

University of Birmingham, University of York, Nottingham Trent University, University of Leeds, Queen Mary, University of London, SOAS University of London

85%

University of Liverpool, Newcastle University, Cardiff University, Lancaster University, University of Sheffield, University of St Andrews, University of Kent

of graduating members landed their dream job* in their first-choice sector

Royal Holloway, University of London, University of Sussex, University of Greenwich

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* We define a ‘dream job’ as a role in the sector a student selected as
their top preference when they signed up for the club.
These were the sectors where
our members secured roles:
FMCG
Technology
Science and
38
Research Law
89
Culture, Media 99
and Sport
486
101
Engineering and
Infrastructure 128
146
Consulting
441
289
Financial Services Public
Sector and
Government
----- End of picture text -----

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OUR IMPACT

93% Students

Building community on campus and connecting students nationwide

16,743 53 93 520 14,442 Student On campus Universities Events Connections members societies represented delivered made on campus nationwide

In 2024, we introduced:

Building community on campus

The 93% Club is a grassroots organisation, run by and for state-educated people. Our university clubs are at the heart of this movement, creating opportunities for members to connect, share insights, and take action. In the spirit of our grassroots nature, our student leaders are responsible for delivering impact to our members on the ground - this involves hosting events that focus on community building, professional development and employability, careers, wellbeing, advocacy, networking and mentoring.

Each of our 50+ university clubs take the lead on their 10 own initiatives, as well as being part of our national events events, allowing local per week in 2024 students access to more bespoke support and local executive committees further development opportunities.

Across the networks our university clubs delivered over 520 events in 2024 (up 35% from 385 in 2023), including:

OUR IMPACT

93% Employers

Connecting students nationwide

We wanted to democratise access to the 93% Club for those who do not have their own local 93% club branch, connect our student members and provide them access to employment opportunities no matter where they are in the UK.

In order to do this, we launched our online marketplace to connect students and professionals at scale.

Students on the network can access the 93% Club’s very own job board, exclusively for 93% Club Members. Our employer partners use this board to share their latest job vacancies, early careers programmes, insight days and more. 36 employer partnerships we partnered with 36 employers (see Financial Review section in Trustee’s Annual Report) in order to support our members in accessing their dream roles.

These network also provides members with access to the in person events including the flagship annual conference, careers workshops, recruitment training, and employability programmes, all delivered by the Foundation’s full-time team. Key highlights from 2024 include:

75% of messages sent via Direct Message shows students are making meaningful one-to-one connections.

1,636 CVs reviewed, 1:1 mentoring delivered, and headshots snapped

Testimonials

Our partnership with The 93% Club has been an important part of our social impact investment. It has allowed us to connect authentically with clients who share a common purpose, and it has provided a unique platform to network with other organisations.

Understanding that it’s not just about getting in but also getting on in an organisation, the network provides a supportive community for stateeducated people as they navigate and advance in the professional world.

Joanne Conway Global Head of Inclusion, DLA Piper

Social Mobility Factory

In its third year, the Social Mobility Factory - the UK’s largest employability event for state educated students - was a conveyor belt of career-boosting activities to manufacture social mobility at scale.

Over 650 people were hosted and, across the course of just one day , the following impact was delivered:

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144 >113
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mock interviews and speed CVs reviewed providing networking sessions, pairing practical tips and tricks to state-educated students maximize students’ success with professionals from their in landing a new job dream career

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FIVE
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>229

professional headshots, industry insight panels that to give students the best provided our members chance to grow their with insider knowledge professional network and insights into a host of different careers

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FOUR
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100+
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keynote workshops with a professionals at a Sky News anchor, a start-up networking evening expert, a best-selling author, and a “in conversation with” national treasure Rylan Clark

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OUR IMPACT

The event successfully facilitated connections and provided valuable resources to students from across the UK. In keeping with our ethos to ensure that careers events are accessible, it was essential to ensure that the barrier to entry was low and that all students had their travel and, if necessary, accommodation reimbursed in order to participate in the event. Following the event, we observed:

92%

reported that they grew their networks, making more than three news connections each.

Collected in real time

We surveyed our students as they entered the event, and asked them the same questions as they left. This allows us to see the immediate impact we made on their confidence and their network. The Factory has had a transformative impact on student attendees, with marked improvements in awareness of career opportunities, confidence and, above all, professional network size.

Before After

% of attendees who were ‘very aware’ of career opportunities

52% 77%

% of attendees ‘very confident’ that they can compete for job roles

32% 77%

% of attendees who could network ‘very confidently’

87%

33%

State School Roadshows

Attendees of the State School Roadshow came from every corner of Britain, showcasing a truly nationwide reach. The Roadshow brought together representatives from over 33 universities, stretching from Edinburgh to Exeter. Over 180 students attended the roadshow events, where they had the opportunity to listen to industry experts and meet members of their sister clubs. Over 90 professionals attended our networking events across the UK to support students as they begin to consider post-university opportunities. The charity worked alongside four employer and university partners to showcase opportunities to students across the UK. Of the students that attended, 92% reported that they grew their networks, making more than three news connections each.

185 33

Students in attendance Universities represented across four locations. by students across four locations.

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FOUR
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90

90 professionals attended Employer partners across our networking events to law and consulting support students. showcasing top opportunities.

83%

of attendees self identified as having a ‘large professional network’ compared to 15% before

OUR IMPACT

Who do you think we are?

Elevate Programme

In 2024, we launched the second cohort of Elevate, our Civil Service insight programme in collaboration with the UK Home Office, doubling participation. The programme included 15 virtual sessions over 11 dates between November 2023 and March 2024, offering insights into the Civil Service culture, workstreams, and application tips for the fast stream. Participants were also paired with a Home Office mentor for added support, and a closing celebration event was held in person to boost engagement and networking.

In 2024, The 93% Club worked alongside Slaughter and May to host a bespoke event introducing our student members to the firm and world of commercial law. Across the afternoon 95 student members heard from an inspiring panel of partners, associates and trainees who candidly shared their advice on how they broke into and thrived in the legal sector. Topped off with an evening of non-pretentious networking, members were able to speak with the firm’s trainee recruitment team and social mobility network about their experiences at Slaughter and May. Of the students that attended, 93% reported that the event positively changed their view of securing a job in law.

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100%
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Testimonials

97%

“It completely changed “I felt that the event was my view on the type of incredible at debunking background Magic Circle the stereotypes of lawyers can come from, lawyers. It was so as well as my perception interesting to hear from of what working and the people with backgrounds firm might be like.” similar to mine.” “People were so “This event made me feel great, the talk was so much more confident informative. It was great about applying for that all the professionals opportunities at places were so eager to talk and like this aka the ones that so helpful.” I previously would’ve

said that Elevate has said that Elevate has helped them expand their provided them with skills professional networks they will apply during their applications.

“This event made me feel much more confident about applying for opportunities at places like this aka the ones that I previously would’ve thought were just for certain types of people.”

100%

100%

said that Elevate has said that Elevate has improved their confidence improved their knowledge when applying for a roles at and understanding of the the Home Office. Civil Service.

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OUR IMPACT

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024

93% Professionals

The UK’s first ever professional network for those without professional networks

2,168 306 81% 12,663 Professional C-suite executives, partners Signed up to volunteer to Messages exchanged members and managing directors support our students between numbers

The new frontier for the 93% Club

State school educated professionals who’ve broken into their dream roles are often met with a different set of challenges; a report from the Bridge Group found that employees from lower socioeconomic backgrounds take 25% longer to progress through the ranks, despite no evidence of poorer performance. This is not due to a lack of talent amongst state educated people, it’s about the size and strength of their professional network.

So, in response, and in collaboration with our founding members – BCG, EY, Slaughter and May and JLL, the 93% Professionals was launched in September 2023: a mutually supportive network designed to connect our members with opportunities, advice, and each other. This network is also leveraged by our students, who are able to tap into the network to gain insider knowledge of industries direct from those who work in them. Through our online platforms, we see our students seek advice and guidance, CV reviews, or application support from our professional members on a daily basis.

In our second year, we grew from 1100 members to 2168 members and we’ve refined our product to ensure it meets member needs. We launched The 93% Professionals Hub, our digital home and go-to space for mentoring, networking, student support, and events. The Hub also includes a brand-new directory - dubbed the “State School Yellow Pages” - where members can easily find others in their industry, at their seniority level, or working in companies they aspire to join. Members are forming meaningful connections, with 65% of messages happening in private DMs, proving they’re building relationships and supporting each other with little input from us.

In our second year, we grew from 1110 to

2168 members

13% of members signed up to offer ad hoc support to our student members

With a significant portion of our membership joining the network in order to pay-it-forward, we invested in the infrastructure for our professional members to trial supporting each other and our students. In 2024, 182 unique student support requests were fulfilled (2023: 50). In total, 228 professionals stepped up to give back.

80% of members

With 80% of members interested in becoming mentors, we also expanded our structured mentoring programme from 250 participants (2023: 70), including matching 57 students with professionals for the first time.

signed up to become mentors

We’ve introduced our Ambassador scheme, giving professionals the chance to take a lead in organising regional and industry-specific events, helping to build even stronger connections within the network.

The Foundation was established in 2020 and registered with the Charity Commission under charity number 1192823 on 16 December 2020. It is governed by the rules set out in its Constitution, dated December 2020.

The Foundation’s objectives, as outlined in its Constitution, are to provide advice, assistance, support, and recreational activities for university students across the UK who attended state schools or come from disadvantaged backgrounds.

Student Clubs on campus – These are active at over 50 UK universities and are run by elected student leaders (“Club Leaders”). The Clubs create local communities, hosting events and campaigns that connect students with their peers in person. For Club Leaders, managing a 93% Club branch offers professional development opportunities and enhances employability as they approach graduation. The Foundation provides support, coordination and funding to ensure consistency and impact across all campuses.

By bringing together thousands of state-educated students and professionals across the UK, the Foundation leverages the power of networks to redistribute social, economic, and political influence, traditionally held by a small proportion of society, back to the 93%. In doing so, it is helping to build a fairer future for the next generation.

National student membership – Managed centrally by the Foundation via a virtual platform, this online community provides students with peer connections, mentoring, and access to exclusive initiatives and events. These include the flagship annual conference, careers workshops, recruitment training, and employability programmes, all delivered by the Foundation’s full-time team.

The Foundation delivers on its objectives through the management of its flagship network, The 93% Club—a national community for state-educated students and professionals. The network operates in two ways:

In 2023, the Foundation expanded its work with the launch of the 93% Professionals Network - the UK’s first dedicated network for state-educated professionals and allies. Professional members can access a virtual community to connect with peers, expand their networks, and strengthen their sense of belonging in the workplace. Importantly, members are also encouraged to “pay it forward” by supporting the student community - for example, by attending networking events, offering CV or interview guidance, or participating in the Foundation’s formal mentorship programme.

The Foundation benefits from voluntary assistance. For the purposes of the accounts, no value has been attached to this voluntary assistance however we have quantified gifts in kind, which relate to donated professional expertise in the form of consultancy and legal support, free social media advertising, and event spaces provided free of charge.

The Board of Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s objectives, planning activities and deciding on the use of funds.

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024

Achievements and Performance including delivering Public Benefit

As the first year with a full-time team, FY24 has been our most impactful year to date. Our documented student membership grew by 175%, from 6,000 to 16,473 members, while our professional membership increased by 97%, demonstrating the growing reach and engagement of our community. We also welcomed new university Clubs - St Andrews, Glasgow, Nottingham Trent, and the School of Oriental and African Studies (SOAS) - expanding opportunities for students in Scotland particularly. Our membership model is devolved, meaning students can join their local 93% university club without necessarily registering on the national charity platform. As a result, we believe the true scale of our student membership is likely much higher than the numbers currently reflected in our database.

We now work alongside 36 employer partners, up 50% from 2023 , strengthening pathways for students to access meaningful graduate employment. This growth aligns directly with our mission to deliver public benefit by supporting state-educated students to achieve equitable access to professional opportunities and by providing employers with access to diverse, high-potential talent.

• We remain the most followed social mobility charity in Britain , unlocking a unique opportunity to shift prevailing, negative narratives about being state educated and we do this through our #StateSchoolProud campaigns through LinkedIn and Instagram. Since 2024, The 93% Club’s work at both national and local levels has attracted significant media attention. From The Times covering Edinburgh’s anti-accentism campaign, to The Telegraph and City AM profiling Sophie around the relaunch of #StateSchoolProud, to Dazed and The Tab naming us a challenger force to elitism on campus—our presence across such a broad mix of outlets shows the strength of our brand in driving collective progress. In the past year alone, our media coverage has contributed to us reaching 42 million people, according to Brandwatch data.

In the last year, our student membership grew by

175%

while our professional membership increased by

97%

This year, we also developed the infrastructure to track the outcomes of our graduated student members, providing a clearer view of our public benefit impact. For the 2022–24 graduating cohort whose destinations we tracked, 85% secured roles in their desired industries . Significantly, the top five employers most frequently identified in these destinations were all employer partners across 20222024: Clifford Chance, House of Commons, PwC, Deloitte and EY.

In addition to membership and partnership growth, The 93% Club is proud to celebrate other achievements, including:

These results demonstrate the tangible impact of our model, combining mentoring, guidance, employer access, and practical experience to support students from state-educated backgrounds in achieving their career goals. In doing so, we continue to deliver measurable public benefit by reducing barriers to employment and widening participation in professional sectors.

Review of the charity’s financial performance for the period and financial position at the end of the reporting period

Partnering with employers forms a huge part of our impact delivery - by working with employers, students can gain knowledge of and access to top industries that they would not otherwise access. In 2024, the organisation partnered with some incredible partners to deliver our work, including:

At the year ended 31[st] December 2024, The 93% Club Foundation made a surplus of £215,369. This was the first year that we had a full-time team, with the executive team all in role by May 2024 and ending the year with 6 full-time staff members. In 2025, we have continued to invest in our team and infrastructure to support the delivery during this phase of growth. This has resulted in significant growth of the charity’s income and ability to deliver it’s impact. We had our most successful fundraising year to date, raising donations of £204,220, a substantial increase from the previous financial year (FY23: £31,105). Similarly, we successfully secured 37 corporate partnerships in 2024 (FY23: 26) and we focussed on retaining and deepening our relationships with our key strategic partners.

•
•
•		 Slaughter & May
EY
JLL		 • Latham & Watkins
• RICS
• A&O
• DLA Piper • Blackrock
• BCG • DC Advisory
• HSF • Linklaters
• Norton Rose Fulbright LLP • Enterprise Mobility
• Clifford Chance • Societe Generale
•
•
•
•
•
•
•
•
•		 Sidley Austin
Freshfields
Taylor Wessing
Ashurst
Barclays
Bank of America
Reckitt
CMS
SSE		 • Motability Operations
• Formula E Operations
• 7 King’s Bench Walk
• Omnicom Media Group
• Browne Jacobson
• Burness Paull LLP
• The Run Buddy Ltd
• Lancia Consulting
• Teach First
• SMRS • Flex Legal

We have a diversity of income streams and diversity of partners and donors within those streams, with the income split as follows:

Breakdown of FY24 Income by source

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4
27% 40%
29%
Corporate partner income
Grant income
Professional network income
Donations inc gifts in kind
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Reserves policy

At the 93% Club Foundation, the reserves policy is to maintain reserves of at least six months of future core operating costs. The Board of Trustees are satisfied with the level of reserves which at 31 December 2024 amount to £314,229 of unrestricted funds and £46,500 of restricted funds, representing approximately 7 months of future core operating costs.

Principal risks and uncertainties

The Board is responsible for ensuring that we have effective risk management and that internal systems are in place to understand our risk appetite and manage the major risks we are exposed to. Currently, the Executive Team review quarterly and ad hoc as new risks are identified, with the Finance and Risk Sub-Committee meeting on a quarterly basis to review the risk register. As part of the review, each risk is assessed according to the likelihood of occurence and the potential impact on the organisation, and mitigation plans against all risks are detailed.

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024 Structure, Governance and Management

The Foundation is a Charitable Incorporated Organisation which is administered by the Board of Trustees who oversee the strategy, direction, performance and risks of the organisation. They do this by approving budgets, operational plans and key organisational policies. They also review our financial performance, risk register, and impact data. The Board of Trustees meet regularly during the year to ensure proper administration of the Foundation and application of its resources. The trustees have considered the Charity Commission guidance on public benefit.

Trustees are appointed only by resolutions passed by existing Trustees to co-opt new Trustees. This is carried out in accordance with clauses 10.1 and 10.2 of the Constitution. Trustees are appointed for a term of two years and, in appointing new Trustees, the charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Foundation. The training and induction requirements of each Trustee are assessed on an individual basis and access to training is offered where necessary. Trustees are provided with a copy of the Charity Commission’s guidance for trustees as well as the Foundation’s Constitution and all relevant papers, accounts, documents and minutes.

The day-to-day management of the Foundation is delegated by the Board of Trustees in line with the Foundation’s Constitution to the Executive Committee. The Executive Committee meets face-to-face on a weekly basis, and reports back to the Board of Trustees both in online and in-person meetings on a quarterly basis. Annual pay awards for the organisation are approved by the Board. The Board considers the CEO and the rest of the Senior Leadership Team’s salaries, taking into account performance, level of individual responsibility and external benchmarking.

The charity has one subsidiary undertaking, 93% Talent Limited, which is wholly owned by the charity and was established on August 30th 2022. The results of 93% Talent are fully consolidated in these accounts. 93% Talent has a resource sharing agreement with the charity through which the company pays for an equitable share of the administrative services needed to ensure that business activity is compliant with all appropriate and relevant standards. The activity in 93% Talent this year related to our partnerships with employers, offering them graduate recruitment services, and our individual membership subscriptions to our professional network, and the profits donated to the Foundation entity represents a material proportion of the charity income. No loans have been made by the charity to the trading subsidiary. There are no formal relationships between the charity and any other organisation.

The 93% Club Foundation

REPORT AND UNAUDITED FINANCIAL STATEMENTS 31 December 2024

Looking ahead to 2025

As we build on the successes of FY24, our focus for the coming year is on deepening impact, strengthening connections, and ensuring every student can access opportunities that reflect their career ambitions. Guided by what we’ve learned, our priorities for 2025 are:

Embedding 93% Professionals into more businesses to build a full ecosystem

We will expand the reach of our professional network by working with more employers across diverse sectors. By embedding 93% Professionals into workplaces, we will create a sustainable ecosystem where alumni and members continually “pull the next generation up,” embedding pay-it-forward culture into professional life.

Mobilising the community to pay it forward at scale

We will design more structured, accessible ways for students to engage directly with professionals, whether through mentoring, networking, or practical career support. At the same time, we will remove friction for professionals by making it easier to offer their time and expertise, ensuring support can flow at scale.

Diversifying our employer pool to support all career interests

We aim to broaden the industries and roles represented in our employer partnerships so that students with every career ambition - whether in law, finance, tech, creative industries or beyond - can find pathways into their chosen fields. This diversification ensures equity of opportunity across our community.

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The 93 Percent Club Foundation

Reference and administrative details

For the year ended 31 December 2024

Charity number 1192823

Registered office and Silverstream House operational address 4th Floor 45 Fitzroy Street London W1T 6EB

Trustees Trustees who served during the year and up to the date of this report were as follows:

Sarah David Chair appointed 19 May 2025 Jennifer Chong Kimberly Lovegrove Edward Mannix Dr Owen Jackson Gabriella Sethi Patricia Lucas-Clarke

Key management Sophie Pender (CEO) personnel

Bankers NatWest 317 Hale Lane Edgware HA8 7AX

Independent Godfrey Wilson Limited examiners Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

The 93 Percent Club Foundation

Report of the trustees

For the year ended 31 December 2024

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the group and the incoming resources and application of resources, including the net income or expenditure, of the charity and the group for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Members of the charity have no liability to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 29 September 2025 and signed on their behalf by

Sarah David

Sarah David - Chair of Trustees

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Independent examiner's report

To the trustees of

The 93 Percent Club Foundation

I report to the charity trustees on my examination of the consolidated accounts of the Group comprising The 93 Percent Club Foundation ('the Charity') and its subsidiary undertakings for the year ended 31 December 2024, which are set out on pages 24 to 39.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirements of the Charities Act 2011 ('the 2011 Act') and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both the Charity and the Group are not required by law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the consolidated accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the consolidated accounts present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.

Independent examiner's report

To the trustees of

The 93 Percent Club Foundation

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

William Guy Blake

Date: 29 September 2025

William Guy Blake ACA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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20

The 93 Percent Club Foundation

Consolidated statement of financial activities

For the year ended 31 December 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
5
6
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income and net movement
in funds		 Restricted
£
46,500
-
-
46,500
-
-
46,500
-
46,500		 Unrestricted
£
204,220
522,270
404
726,894
558,025
558,025
168,869
145,360
314,229		 2024
Total
£
250,720
522,270
404
773,394
558,025
558,025
215,369
145,360
360,729		 Restated
2023
Total
£
31,105
183,394
41
214,540
185,565
185,565
28,975
116,385
145,360

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 to the accounts.

The 93 Percent Club Foundation

Consolidated and parent balance sheets

As at 31 December 2024

Note
9,10,11
12
13
15
16
Fixed assets
Investments
Current assets
Debtors
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within
1 year
Net current assets / (liabilities)
Net assets / (liabilities)
Funds
Restricted funds
Unrestricted funds:
General funds
Total charity funds		 The group
2024
£
-
103,690
438,208
541,898
(181,169)
360,729
360,729
46,500
314,229
360,729		 Restated
The group The charity
2023
2024
£
£
-
1
48,911
326,316
245,114
24,431
294,025
350,747
(148,665)
(46,267)
145,360
304,480
145,360
304,481
-
46,500
145,360
257,981
145,360
304,481		 Restated
The charity
2023
£
1
71
15,128
15,199
(19,169)
(3,970)
(3,969)
-
(3,969)
(3,969)

The prior year has been restated as set out in note 19.

Approved by the trustees on 29 September 2025 and signed on their behalf by

Sarah David

Sarah David - Chair of Trustees

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23

The 93 Percent Club Foundation

Consolidated statement of cash flows

For the year ended 31 December 2024

Cash used in operating activities:
Net movement in funds
Adjustments for:
Dividends and interest from investments
Increase in debtors
Increase in creditors
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Dividends and interest from investments
Net cash provided by investing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Cash and cash equivalents comprises:
Cash at bank and in hand
Cash and cash equivalents at the end of the year		 2024
£
215,369
(404)
(54,779)
32,504
192,690
404
404
193,094
245,114
438,208
438,208
438,208		 2023
£
28,975
(41)
(13,711)
127,077
142,300
41
41
142,341
102,773
245,114
245,114
245,114

The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

1. Accounting policies

a) General information and basis of preparation

Silverstream House 4th Floor 45 Fitzroy Street London W1T 6EB

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The 93 Percent Club Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Group accounts

These financial statements consolidate the results of the charity and its wholly-owned (controlled) subsidiary on a line by line basis. Transactions and balances between the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet. A separate Statement of Financial Activities for the charity is not presented as the charity has taken advantage of the provisions of section 24 of the SORP.

c) Going concern basis of accounting

The group has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

The accounts have been prepared on the assumption that the charity and the group are able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's and group's ability to continue as a going concern.

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of provision of services is deferred until criteria for income recognition are met.

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The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

1. Accounting policies (continued)

e) Investment income

Interest on funds held on deposit, dividends and other investment income are included when receivable and the amount can be measured reliably by the charity. This is normally upon notification of the amounts paid or payable by the bank or investment managers.

The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

1. Accounting policies (continued)

m) Financial instruments

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particularly areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

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

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to charitable activities in the current and prior year.

i) Investments in subsidiary

The charity has one wholly owned subsidiary, 93 Percent Talent Limited (registered company number 14323933). The subsidiary is used for non-primary purpose trading activities. The subsidiary undertaking is valued at cost less any cumulative impairment losses in the charity's accounts.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty within the accounts.

2. Prior year comparatives: statement of financial activities

Income from:
Donations and legacies
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income and net movement in funds		 Restricted
£
£
-
31,105
-
183,394
-
41
-
214,540
-
-
-
185,565
-
185,565
-
28,975
Unrestricted		 Restated
2023
Total
£
31,105
183,394
41
214,540
-
185,565
185,565
28,975

l) Creditors

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

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The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

3. Income from donations

Income from donations
Grants and donations
Gifts in kind
Total income from donations*		 Restricted
£
£
46,500
189,120
-
15,100
46,500
204,220
Unrestricted		 2024
Total
£
235,620
15,100
250,720		 2023
Total
£
31,105
-
31,105

*Gifts in kind relate to donated professional expertise in the form of consultancy and legal support, free social media advertising, and event space provided free of charge.

In the prior year, all income from donations and legacies was unrestricted.

4. Income from charitable activities

Professionals' Network
Sponsorship
Total income from charitable activities		 2024
Total
£
208,787
313,483
522,270		 Restated
2023
Total
£
88,894
94,500
183,394

All income from charitable activities was unrestricted in the current and prior year. The income recognised above was generated through trading activity of 93 Percent Talent Limited (note 10). It has been classified as income from charitable activities as it has been raised in the furtherance of the The 93 Percent Club Foundation's charitable activities.

The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

5. Total expenditure

Total expenditure
Staff costs (note 7)
Activities and events
Consultancy costs
Advertising and publicity
Licenses and subscriptions
Admin expenses
Premises costs
Bank charges
Travel and subsistence
Legal and professional
IE fees
Equipment costs
Other staff costs
Insurance costs
Sundry
Sub-total
Total expenditure
Allocation of support
and governance costs		 Charitable
activities
£
199,429
138,791
74,351
43,898
12,157
20,272
6,426
1,004
6,637
2,241
1,200
2,701
-
741
7,173
517,021
41,004
558,025		 Support and
governance
costs
£
-
-
-
-
-
11,621
17,359
-
-
5,389
3,500
-
3,135
-
-
41,004
(41,004)
-		 2024 Total
£
199,429
138,791
74,351
43,898
12,157
31,893
23,785
1,004
6,637
7,630
4,700
2,701
3,135
741
7,173
558,025
-
558,025

Governance costs for the year were £9,563 (2023: £1,508).

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The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

5.
Total expenditure (continued)
Prior year comparative
Staff costs (note 7)
Activities and events
Consultancy costs
Advertising and publicity
Licenses and subscriptions
Admin expenses
Premises costs
Bank charges
Travel and subsistence
Legal and professional
IE fees
Equipment costs
Other staff costs
Insurance costs
Sundry
Bad debt
Sub-total
Total expenditure
Allocation of support
and governance costs		 Charitable
activities
£
36,565
60,462
21,758
31,093
1,038
518
481
108
5,471
1,670
1,620
78
737
767
3,054
3,400
168,820
16,745
185,565		 Support and
governance
costs
£
-
-
-
-
5,046
5,287
4,889
15
-
188
1,320
-
-
-
-
-
16,745
(16,745)
-		 Restated
2023 Total
£
36,565
60,462
21,758
31,093
6,084
5,805
5,370
123
5,471
1,858
2,940
78
737
767
3,054
3,400
185,565
-
185,565

The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

6. Net movement in funds This is stated after charging:

Net movement in funds
This is stated after charging:
2024 2023
£ £
Operating lease payments 1,986 -
Trustees' remuneration Nil Nil
Trustees' reimbursed expenses Nil Nil
Independent examiners' remuneration (excluding VAT):
Independent examination 3,500 1,320
Other services 1,200 Nil

In common with other charities of our size and nature we use our independent examiners to assist with the preparation of the financial statements and to prepare and submit returns to the tax authorities.

7. Staff costs and numbers

Staff costs were as follows:
Salaries and wages
Social security costs
Pension costs		 2024
£
176,461
19,017
3,951
199,429		 Restated
2023
£
34,680
1,885
-
36,565

No employee earned more than £60,000 during the current or prior year.

The key management personnel of the charity comprise the trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £45,564 (2023: £Nil).

2024 2023 No. No. Average number of employees 4 1

8. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiary, 93 Percent Talent Limited, donates available profits to the parent charity under the gift aid scheme.

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The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

9. Investments

The group The charity Restated 2024 2023 2024 2023 £ £ £ £ Investment in subsidiary company 1 1

The investment represents 100% of the ordinary share capital of 93 Percent Talent Ltd, a company registered in England and Wales (14323933), whose principal activity is to carry out trading activities in support of the charity. A summary of the financial results and position of 93 Percent Talent Ltd is given in note 10.

The prior year has been restated to correctly disclose the nominal value of the shares held by the charity as an investment.

10. Subsidiary undertaking

The Charitable Incorporated Organisation is the owner and sole member of 93 Percent Talent Limited, a company limited by shares and registered in England and Wales. The company registration number is 14323933 and the registered office is the same as the CIO. The company undertakes the group's trading activity.

Available profits are gift aided to the CIO. A summary of the results of the subsidiary for the 12 month period are shown below:

Turnover
Cost of sales
Gross profit
Administrative expenses
Profit for financial year
Changes in equity:
Total retained profit brought forward
Total comprehensive income for the year
Gift aid distribution to parent charity
Total retained profit carried forward		 2024
£
522,524
(231,720)
290,804
(102,000)
188,804
149,329
188,804
(281,884)
56,249		 Restated
2023
£
183,393
(35,827)
147,566
(15,771)
131,795
87,534
131,795
(70,000)
149,329

The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

10. Subsidiary undertaking (continued) The aggregate of the assets, liabilities and funds was:

2024 2023
£ £
Assets 471,996 295,826
Liabilities (415,746) (146,496)
Funds 56,250 149,330
Parent charity
The parent charity's gross income and the results for the year are disclosed as follows:
Restated
2024 2023
£ £
Gross income 532,754 107,852
Results for the year 308,450 (32,740)
Debtors
The group The charity
Restated
2024 2023 2024 2023
£ £ £ £
Trade debtors 57,600 48,608 - -
Prepayments 34,529 - 33,911 -
Amounts owed by group undertakings - - 269,788 -
VAT 11,561 - 22,617 -
Other debtors - 303 - 71
103,690 48,911 326,316 71
Creditors: amounts due within 1 year The group The charity
Restated Restated
2024 2023 2024 2023
£ £ £ £
Trade creditors 29,766 1,285 29,766 1,285
Accruals 8,055 2,940 6,855 1,320
Taxation and social security 8,401 31,213 8,401 1,732
Deferred income (note 14) 133,702 113,934 - -
Amounts owed to group undertakings - - - 17,000
Other creditors 1,245 (707) 1,245 (2,168)
181,169 148,665 46,267 19,169

11. Parent charity

12. Debtors

13. Creditors: amounts due within 1 year

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The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

14. Deferred income

At 1 January 2024
Deferred during the year
Released during the year
At 31 December 2024		 2024
2023
2024
2023
£
£
£
£
113,934
-
-
-
133,702
113,934
-
-
(113,934)
-
-
-
133,702
113,934
-
-
The group
The charity

Deferred income relates mainly to advance bookings and professional members fees received in advance.

15. Analysis of group net assets between funds

Analysis of group net assets between funds
Current assets
Current liabilities
Net assets at 31 December 2024
Prior year comparative (restated)
Current assets
Current liabilities
Net assets at 31 December 2023		 £
46,500
-
46,500
£
-
-
-
Restricted
funds
Restricted
funds		 £
495,398
(181,169)
314,229
£
294,025
(148,665)
145,360
General
funds
General
funds		 £
541,898
(181,169)
Total
funds
360,729
Total
funds
£
294,025
(148,665)
145,360

The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

16. Movements in group funds

Restricted funds
Considered ask
Total restricted funds
General funds
Total unrestricted funds
Total funds
Purposes of restricted funds
Considered ask
Prior year comparative
(restated)
General funds
Total unrestricted funds
Total funds
Unrestricted funds
Unrestricted funds		 At 1
January
2024
Income
£
£
£
£
-
46,500
-
46,500
-
46,500
-
46,500
145,360
726,894
(558,025)
314,229
145,360
726,894
(558,025)
314,229
145,360
773,394
(558,025)
360,729
At 1
January
2023
Income
£
£
£
£
116,385
214,540
(185,565)
145,360
116,385
214,540
(185,565)
145,360
116,385
214,540
(185,565)
145,360
Funding to cover the salary costs of the employer
account manager.
At 31
December
2024
Expenditure
Expenditure
At 31
December
2023		 £
46,500
At 31
December
2024
46,500
314,229
314,229
360,729
145,360
145,360

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The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

17. Operating lease commitments

The group and charity had operating leases at the year end with total future minimum lease payments as follows:

payments as follows:
Amount falling due:
Within 1 year
Within 1 - 5 years		 2024
2023
£
£
11,917
-
-
-
11,917
-
The group		 2024
2023
£
£
11,917
-
-
-
11,917
-
The charity
-

18. Related party transactions

93 Percent Talent Limited, a company limited by shares, forms the trading arm for the charity. The Chief Executive serves on the board of directors of the trading company. During the year, the charity recharged staff costs and overheads of £296,232 (2023: £nil). In addition, the trading company made a gift aid payment to the charity of £281,884 (2023: £70,000). At the balance sheet date the trading subsidiary owed £269,788 to the charity (2023: the charity owed £17,000 to the trading subsidiary).

The 93 Percent Club Foundation

Notes to the financial statements

For the year ended 31 December 2024

19. Prior year restatement

The opening funds have been restated for the following items:

(iii) in the charity only accounts, to include the £1 share capital of the trading subsidiary on the charity balance sheet.

The effect of the adjustments is as follows:

Group:
Total income
Total expenditure
Net movement in funds
Debtors
Creditors
Unrestricted funds
Charity:
Investments
Creditors
Unrestricted funds		 Per filed
accounts
£
345,474
180,545
164,929
69,311
33,111
281,314
Per filed
accounts
£
-
2,169
13,030		 Adjustment
£
(130,934)
5,020
(135,954)
(20,400)
115,554
(135,954)
Adjustment
£
1
17,000
(16,999)		 As restated
£
214,540
185,565
28,975
48,911
148,665
145,360
As restated
£
1
19,169
(3,969)

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93 93percent.club