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2021-12-31-accounts

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

Period ended 31 December 2021

INDEX TO FINANCIAL STATEMENTS

Page No
1 Legal and Administrative information
2-5 Report of the Trustees
6 Independent Examiner’s Report
7 Statement of Financial Activities
8 Balance Sheet
9-11 Notes to the Financial Statements

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

LEGAL AND ADMINISTRATIVE INFORMATION

Registered Charity Number 1193389
Trustees John Cameron (Chair)
Alison Cameron
Ian Robinson
Principal Office Techspace
25 Luke Street
LONDON
EC2A 4DS
Independent Examiner Jason Foxwell FCCA FCIE
independent-examiner.net
39 Enfield Road
Poole
BH15 3LJ
Bankers Wise Payments Ltd
6thFloor, The Tea Building
56 Shoreditch High Street
London
E1 6JJ

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

REPORT OF THE TRUSTEES

The trustees of Talent Beyond Boundaries UK are pleased to present their report and financial statements for the first period ending 31 December 2021.

ORGANISATIONAL STRUCTURE AND MANAGEMENT

Charity status

Talent Beyond Boundaries UK is a registered Charitable Incorporated Organisation (CIO) and was registered with the Charity Commission on 3 February 2021.

The charity is governed by a CIO Constitution dated 28 January 2021.

Trustees

There must always be at least three charity trustees. The initial trustees appointed were:

John Cameron (appointed 3 February 2021) Alison Cameron (appointed 3 February 2021) Ian Robinson (appointed 3 February 2021)

OBJECTIVES AND ACTIVITIES

Objects

The object of the CIO is for the public benefit to:

In these objects, forcibly displaced persons means individuals who have been forcibly displaced from their home country due to physical dangers, conflict, generalised violence, human rights violations or persecution, including refugees and those in refugee-like circumstances such as stateless persons and persons seeking asylum, and their dependents.

Aims and principal activities

Talent Beyond Boundaries UK's aim is to support forcibly displaced people gain equitable access to UK employment and immigration opportunities. We do this by leveraging the power of the private sector, who not only hire refugees through this model but are supported by Talent Beyond Boundaries UK to secure the highest standards of global mobility, settlement and integration in the UK.

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

REPORT OF THE TRUSTEES - CONTINUED

The principle activities of the CIO involves engaging with employers, governments and other partners to promote policy changes that advance Displaced Talent Mobility, namely:

  1. Providing recommendations to officials about ways to improve government policy to secure positive outcomes for displaced people;

  2. Outreach to employers encouraging them to consider hiring displaced talent, and to put in place systems to ensure that displaced people are not discriminated against in recruitment.

  3. Supporting candidates who arrive to the UK with their initial orientation and integration through with reliance and support from partners including UK registered charities, international nongovernmental organisations; and, the private sector (employers and professional global mobility providers).

  4. Creating a platform for candidates who have traveled to the UK to share their lived experience with incoming candidates, but in expert forums - for example, a candidate presented on a panel at the UNHCR Annual Tripartite on Resettlement & Complementary Pathways in Geneva in June 2022.

  5. Monitoring and evaluating outputs, outcomes and impact using a wide range of data collection methodologies, such as surveys, interviews, focus groups etc. This data is then used to create programme information sheets, as well as formal reports and presentations.

How Talent Beyond Boundaries UK activities deliver public benefit

Talent Beyond Boundaries is the only organisation in the world dedicated to displaced talent mobility. This initiative has gained support from government, the private sector, the NGO sector and the broader community in the UK. The CIO delivers public benefit by giving effect to the following charitable objects:

(1) relieve unemployment, poverty, distress and financial hardship of forcibly displaced persons, principally by promoting and supporting skilled labour mobility pathways to enable resettlement of such persons in the United Kingdom;

(2) promote social inclusion for the public benefit among forcibly displaced persons who have resettled in the United Kingdom and are socially excluded due to their social and economic position or otherwise due to their status as a forcibly displaced person.

ACHIEVEMENTS AND PERFORMANCE IN 2021

In the reporting period, Talent Beyond Boundaries UK has developed a widely accepted and successful Displaced Talent Mobility project, which goes directly to the charity's objects. A summary of key successful activities is set out below:

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

REPORT OF THE TRUSTEES - CONTINUED

FINANCIAL REVIEW

The financial statements are set out on pages 7 to 11. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the CIO’s Constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

Overview

During the initial period to 31 December 2021, the charity recorded £370,434 of income and £267,562 of expenditure resulting in a total fund value of £102,872. Of this, £50,674 was held in restricted fund balances.

Financial outlook

The charity is forecasting an increase in income in 2022, driven by increased contributions from the UK government in connection with the Displaced Talent Mobility programmes. In addition, the charity has partnered with the International Organization for Migration (IOM) to implement a three-year European Commission funded project “Displaced Talent For Europe”, beginning in 2022.

Reserves policy

Our policy is for unrestricted reserves to maintain a minimum of shut down cost, and aim to accumulate 3-6 months of operating costs. This will allow the Charity to have the option of developing new services or expanding current ones in line with the changing needs of the community. It will ensure that delays in receipt of expected income do not interrupt services or cause financial difficulty for the Charity. In addition, it enables the Charity to survive unexpected setbacks and problems arising from internal or external causes. The total of £52,198 is sufficient to cover shut down costs, but is currently below the target of 3-6 months operating costs. The Board considers the continuing rebuilding of unrestricted reserves to remain an objective in the coming years.

Risk management

The Trustees have overall responsibility for ensuring the Charity has the most appropriate and effective control systems to safeguard the organisation and any of its assets. These controls protect the organisation against fraud and other irregularities. This role and the associated practices offer reassurance that:

The Trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the operation and finances of the Charity. Systems are in place to minimise exposure to the major risks, with a risk management register being in place and reviewed at least annually by the Trustees.

Due to the fact that the majority of our funding currently comes from the Government, Trusts and Foundations our funding was not materially affected during the immediate COVID crisis. However, the pandemic has increased risk of fundraising targets not being met in the longer term. Moving forward we know we will face increased competition for Trust and Foundation funding, and over the next year may not be able to attract funding from these sources, so we have pivoted to more structured funding through government schemes, including the European Commission’s Asylum, Migration and Integration Fund

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

REPORT OF THE TRUSTEES - CONTINUED

(AMIF) as well as through Corporate Foundations. We expect to further diversify our income in coming years.

The Charity operates planning and budgeting systems with an annual budget approved by the Trustees. Any significant changes are subject to Trustees’ approval. Comparison of actual performance to approved budgets is undertaken on a quarterly basis.

STATEMENT OF TRUSTEE RESPONSIBILITIES

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The law applicable to charities in England & Wales requires the charity trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charity and of the results of the charity for that period. In preparing the financial statements, the trustees are required to:

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the CIO and enables them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Constitution. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 28[th] October, 2022 and signed on their behalf by:

John Cameron Chair of Trustees

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF TALENT BEYOND BOUNDARIES UK (the ‘Charity’)

I report to the charity trustees on my examination of the accounts of the Charity for the period ended 31 December 2021.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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 Act. I confirm that I am qualified to undertake the examination because I am a member of the ACCA and ACIE, both of which are one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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.

Jason Foxwell FCCA FCIE independent-examiner.net 39 Enfield Road Poole BH15 3LJ

Date: 28 October 2022

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2021

2021
Notes Unrestricted Restricted Total
£ £ £
Income
Donations from individuals 2,145 - 2,145
Donations from corporates - 7,058 7,058
Grants from Foundations 25,000 - 25,000
Grants from Government 2 267,164 69,067 336,231
──── ───── ─────
Total income 294,309 76,125 370,434
──── ───── ─────
Expenditure:
Expenditure on charitable activities: 242,111 25,451 267,562
───── ───── ─────
Total expenditure 3 242,111 25,451 267,562
───── ───── ─────
Net income/(expenditure) for the year and
net movement in funds 52,198 50,674 102,872
Reconciliation of funds:
───── ───── ─────
Total funds carried forward £52,198 £50,674 £102,872
═════ ═════ ═════

All amounts relate to continuing activities.

The notes on pages 9 to 11 form part of these financial statements

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

BALANCE SHEET AS AT 31 DECEMBER 2021

Note
Current Assets
Debtors
6
Cash at Bank and in hand
Creditors:
Amounts falling due within 1
year
7
Net Current Assets
Net Assets
Reserves
Unrestricted Funds
Restricted Funds
8
Total Funds		 2021
£
£
239,222
61,526
300,748
(197,876)
102,872
£102,872
52,198
50,674
£102,872		 2021
£
£
239,222
61,526
300,748
(197,876)
102,872
£102,872
52,198
50,674
£102,872
300,748
(197,876)
£102,872
52,198
50,674
£102,872

The financial statements were approved by the Trustees on 28[th] , October 2022 and were signed on its behalf by:

John Cameron Chair of Trustees

The notes on pages 9 to 11 form part of these financial statements

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 ACCOUNTING POLICIES

.

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) (Charities SORP (FRS 102)).

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

These financial statements have been prepared on the going concern basis. The charity has sufficient reserves, and the trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

All income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other 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.

Income from contracts is recognised on an earned basis in the year in which the conditions for receipt are met.

The accounts distinguish between restricted and unrestricted funds. The former have been raised by the charity for specific purposes or are received from donors and are subject to restrictions on the purposes for which they may be used. Unrestricted funds are those where there are no externally imposed restrictions and are available for use at the discretion of the Trustees for expenditure on its objects or appropriated to reserves for internally designated purposes.

d) Expenditure

Expenditure is recognised in the period in which it is incurred.

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. GRANTS FROM GOVERNMENT

GRANTS FROM GOVERNMENT
Home Office (Displaced Talent Pilot)
Department of Health and Social Care (DHSC)
NHS Cohort 3
NHS Cohort 4		 Unrestricted
Restricted
2021
£
£
£
-
46,667
46,667
-
22,400
22,400
126,941
-
126,941
140,223
-
140,223
267,164
69,067
**336,231 **

3. EXPENDITURE

Candidate expenses
Candidate travel expenses
Wages and salaries
Sub-grants
Meetings and travel
Consulting
Communications
Legal fees
Independent examiner fees
Conferences and events
Other expenditure		 Unrestricted Restricted
2021
£
£
£
67,916
6,420
74,336
12,794
-
12,794
72,502
19,031
91,533
64,600
-
64,600
6,654
-
6,654
6,900
-
6,900
895
-
895
3,310
-
3,310
1,415
-
1,415
1,555
-
1,555
3,570
-
3,570
242,111
25,451
267,562

Candidate expenses and Candidate travel expenses relates to costs incurred by the charity in connection with the placement of refugees in NHS Cohort 3 and 4. These costs were re-imbursed by the NHS and form part of the Grants from Government. This arrangement is not expected to continue from 2022 onwards.

Sub-grants relates to the payment to Reset Communities & Refugees (charity no: 1179799) in connection with the community led welcome initiative.

4. STAFF COSTS

STAFF COSTS
Salaries and wages
Social Security costs
Pension costs		 2021
£
85,979
5,221
333
91,533

The average number of persons employed by the charity during the year was 2.

No employee received emoluments in excess of £60,000.

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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. DEBTORS

Grant receivable
Debtors
6.
CREDITORS:Amounts falling due within one year
Trade creditors
Social security costs
Deferred income
Accruals
The Cameron Foundation
Sub- Grant payable		 2021
£
169,222
70,000
239,222
2021
£
10,654
5,397
107,933
35,232
4,060
34,600
197,876

The Sub-Grant is payable to Reset Communities & refugees, a registered charity number 1179799.

7. RESTRICTED FUNDS

DHSC
Home Office
HCA
Total		 Income
£
Expenditure
£
Balance at 31
December
2021
£
22,400
(9,751)
12,649
46,667
(9,280)
37,387
7,058
(6,420)
638
76,125
(25,451)
50,674

8. TAXATION

The CIO is a Registered Charity and, under section 505(i) of the Income and Corporation Taxes Act 1988, is exempt from Corporation Tax on its charitable activities.

9. TRUSTEES’ REMUNERATION AND REIMBURSED EXPENSES

No Trustee received any remuneration or were reimbursed any expenses.

10. RELATED PARTY TRANSACTIONS

As at the Balance Sheet date, the charity owed £4,060 to The Cameron Foundation, a philanthropic entity controlled by the Trustees of TBB UK, John & Alison Cameron. This funding was provided to TBB UK to cover certain formation costs of the charity. It is the current intention to repay this amount in 2022.

In addition, during the period to 31[st] December, 2021, costs totalling £4,900 for the provision of financial and accounting services to the charity were met by The Cameron Foundation.

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