TALENT BEYOND BOUNDARIES UK Charity Number: 1193389
Period ended 31 December 2022
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 |
| 9-12 | Notes to the Financial Statements |
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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 |
| 6th Floor, 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 2022.
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:
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(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;
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(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.
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, stateless persons, 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 principal activities of the CIO involves engaging with employers, governments and other partners to promote policy changes that advance Displaced Talent Mobility, namely:
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Providing recommendations to officials about ways to improve government policy to secure positive outcomes for displaced people;
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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.
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Supporting candidates who arrive to the UK with their initial orientation and integration with reliance and support from partners including UK registered charities, international non-governmental organisations; and, the private sector (employers and professional global mobility providers).
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Creating a platform for candidates who have travelled to the UK to share their lived experience with incoming candidates, as well 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; and have spoken at international events (virtually) in Jordan, Belgium, France and in the UK.
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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 2022
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 objectives. A summary of key successful activities is set out below:
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Assisted over 200 forcibly displaced people move to the UK into guaranteed employment through a Skilled Worker Visa. These candidates have travelled with their families, so over 500 people have been supported through projects.
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Expanded an ecosystem of partners who champion displaced talent mobility integration, including a partnership with the UN Migration Agency, the International Organisation for Migration (IOM) to develop bespoke post-arrival training for displaced talent candidates. In addition, established partnerships with corporate global mobility partners and refugee-serving NGOs to enable contextualised support to candidates across the UK.
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Aided in policy reform within the private sector for equitable recruitment processes of forcibly displaced people; as well as policy reform with professional regulators to ensure equitable access to qualification accreditation.
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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389
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Established a self-governing Alumni Advisory Board to support Talent Beyond Boundaries UK to identify policy gaps, tailor support to arrival candidates, and build best practices with reliance on the lived experience of displaced talent.
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Secured sustainable philanthropic funding for programme development and implementation.
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Grew the UK team from 4 employees to 12 employees.
FINANCIAL REVIEW
The financial statements are set out on pages 7 to 12. 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 year to 31 December 2022, the charity recorded £546,852 of income and £479,183 of expenditure resulting in a total fund value of £176,548. Of this, £65,475 was held in restricted fund balances.
Financial outlook
The charity is forecasting an increase in income in 2023, driven by increased contributions from the UK government in connection with the Displaced Talent Mobility programmes, as well as from philanthropic and corporate donors. 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”, which began in 2022 and will end in 2024.
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 £111,073 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:
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The charity’s assets are safeguarded against unauthorised use or disposition;
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- Proper and reliable financial controls are maintained; and
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The Charity complied with all relevant legislation and regulations.
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.
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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389
REPORT OF THE TRUSTEES - CONTINUED
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
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 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 2022.
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:
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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
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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:
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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | Total | |
| £ | £ | £ | £ | ||
| Income | |||||
| Donations from individuals | 1,547 | - | 1,547 | 2,145 | |
| Donations from corporates | 100,638 | (638) | 100,000 | 7,058 | |
| Grants from Foundations | 25,000 | - | 25,000 | 25,000 | |
| Grants from Government | 2 | 233,199 | 187,106 | 420,305 | 336,231 |
| ───── | ───── | ───── | ───── | ||
| Total income | 360,384 | 186,468 | 546,852 | 370,434 | |
| ───── | ───── | ───── | ───── | ||
| Expenditure: | |||||
| Expenditure on charitable activities: | 291,978 | 187,205 | 479,183 | 267,562 | |
| ───── | ───── | ───── | ───── | ||
| Total expenditure | 3 | 291,978 | 187,205 | 479,183 | 267,562 |
| ───── | ───── | ───── | ───── | ||
| Net income/(expenditure) for the year | 68,406 | (737) | 67,669 | 102,872 | |
| Transfer of funds | (15,538) | 15,538 | - | - | |
| Exchange rate gains/(losses) | 6,007 | - | 6,007 | - | |
| ───── | ───── | ───── | ───── | ||
| Net movement in funds | 58,875 | 14,801 | 73,676 | 102,872 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 52,198 | 50,674 | 102,872 | - | |
| ───── | ───── | ───── | ───── | ||
| Total funds carried forward | £111,073 | £65,475 | £176,548 | £102,872 | |
| ═════ | ═════ | ═════ | ═════ |
All amounts relate to continuing activities.
The notes on pages 9 to 12 form part of these financial statements
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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note Current Assets Debtors 5 Cash at Bank and in hand Creditors: Amounts falling due within 1 year 6 Net Current Assets Creditors: Amounts falling due in more than 1 year 7 Net Assets Reserves Unrestricted Funds Restricted Funds 8 Total Funds |
£ 81,623 269,304 |
2022 £ 180,608 (4,060) |
£ 239,222 61,526 |
2021 £ 102,872 - |
|---|---|---|---|---|
| 350,927 (170,319) |
300,748 (197,876) |
|||
| £176,548 | £102,872 | |||
| 111,073 65,475 |
52,198 50,674 |
|||
| £176,548 | £102,872 |
The financial statements were approved by the Trustees on and were signed on its behalf by:
John Cameron Chair of Trustees
The notes on pages 9 to 12 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 2022
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.
a) Basis of Preparation
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.
b) Income
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.
c) Funds
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 2022
2. GRANTS FROM GOVERNMENT
| Home Office (Displaced Talent Pilot) Department of Health and Social Care (DHSC) West London NHS Trust Scotland Government NHS Cohort 3 DT4E InHealth NHS Cohort 5 NHS Cohort 4 EXPENDITURE Candidate expenses Candidate travel expenses Wages and salaries Sub-grants Meetings and travel Consulting Communications Legal fees Independent examiner fees Conferences and events Alumni expenses External software Rent and office costs Training and development Other expenditure |
Unrestricted Restricted 2022 2021 £ £ £ £ - 23,333 23,333 46,667 - 103,350 103,350 22,400 4,478 - 4,478 - 41,500 - 41,500 - - - - 126,941 - 60,422 60,422 - 24,572 - 24,572 - 162,649 - 162,649 - - - - 140,223 233,199 187,105 420,304 336,231 Unrestricted Restricted 2022 2021 £ £ £ £ 77,065 - 77,065 74,336 3,095 - 3,095 12,794 158,879 178,708 337,587 91,533 - - - 64,600 22,663 6,610 29,273 6,654 10,000 - 10,000 6,900 2,341 - 2,341 895 - - - 3,310 1,415 - 1,415 1,415 3,358 1,500 4,858 1,555 2,801 - 2,801 - 2,300 - 2,300 - 3,509 - 3,509 - 2,800 - 2,800 - 1,752 387 2,139 3,570 291,978 187,205 479,183 267,562 |
|---|---|
3. EXPENDITURE
Candidate expenses and Candidate travel expenses in 2022 relate to costs incurred by the charity in connection with the placement of refugees in NHS Cohort 5. These costs were reimbursed by the NHS and form part of the Grants from Government.
4. STAFF COSTS
| Salaries and wages Social Security costs Pension costs |
2022 £ 304,158 30,648 2,781 337,587 |
2021 £ 85,979 5,221 333 |
|---|---|---|
| 91,533 |
The average number of persons employed by the charity during the year 6.42 (2021 – 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 2022
5. DEBTORS
| 5. | DEBTORS | |||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| £ | £ | |||||||
| Grant receivable | - | 169,222 | ||||||
| Debtors | 81,623 | 70,000 | ||||||
| 81,623 | 239,222 | |||||||
| 6. | CREDITORS:Amounts falling due within one year | |||||||
| 2022 | 2021 | |||||||
| £ | £ | |||||||
| Trade creditors | 6,078 | 10,654 | ||||||
| Social security costs | 14,224 | 5,397 | ||||||
| Deferred income | 148,802 | 107,933 | ||||||
| Accruals | 1,215 | 35,232 | ||||||
| The Cameron Foundation (see note 11) | - | 4,060 | ||||||
| Sub- Grant payable | - | 34,600 | ||||||
| 170,319 | 197,876 | |||||||
| 7. | CREDITORS:Amounts falling due after more than one | year | ||||||
| 2022 | 2021 | |||||||
| £ | £ | |||||||
| The Cameron Foundation (see note 11) | 4,060 | - | ||||||
| 4,060 | - | |||||||
| 8. | RESTRICTED FUNDS | |||||||
| Balance at | Income | Expenditure | Transfer | Balance | at | |||
| 1 January | between | funds | 31 | |||||
| 2022 | December | |||||||
| 2022 | ||||||||
| £ | £ | £ | £ | £ | ||||
| DHSC | 12,649 | 103,350 | (50,525) | 65,474 | ||||
| Home Office | 37,387 | 23,334 | (76,259) | 15,538 | - | |||
| HCA | 638 | (638) | - | - | - | |||
| DT4E | - | 60,422 | (60,421) | - | 1 | |||
| 50,674 | 186,468 | (187,205) | 15,538 | 65,475 |
9. 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.
10. TRUSTEES’ REMUNERATION AND REIMBURSED EXPENSES
No Trustee received any remuneration or were reimbursed any expenses.
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TALENT BEYOND BOUNDARIES UK Charity Number: 1193389
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
11. 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 was shown as a short term creditor in 2021 but will not be repaid until November 2023 so has been shown in 2022 as a long term creditor.
In addition, during the period to 31[st] December, 2022, costs totalling £8,400 (2021 – £4,900) for the provision of financial and accounting services to the charity were met by The Cameron Foundation.
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