2024-12-31-accounts - Talent Beyond Boundaries UK

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

Period ended 31 December 2024

INDEX TO FINANCIAL STATEMENTS

Page No
1	Legal and Administrative information
2-7	Report of the Trustees
8	Independent Examiner’s Report
9	Statement of Financial Activities
10	Balance Sheet
11-14	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	275 New N Rd
	PMB 3012
	London N1 7AA
Independent Examiner	Jason Foxwell FCCA FCIE
	independent-examiner.net
	12 Hillbourne Road
	Poole
	BH17 7JB
Bankers	Wise Payments Ltd
	6thFloor, The Tea Building
	56 Shoreditch High Street
	London
	E1 6JJ

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 2024.

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 trustees appointed are (as initially appointed):

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:

(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.

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.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

REPORT OF THE TRUSTEES - CONTINUED

The CIO’s principal activities continue to include:

Engaging with employers, governments and other partners to promote policy and practice changes that advance Displaced Talent Mobility.
Participation in discussions with, and providing recommendations to, officials on improving government policy to secure positive outcomes for displaced people.
Conducting outreach to employers to encourage recruitment of displaced talent and adoption of inclusive hiring practices.
Supporting candidates who arrive in the UK with initial orientation and integration, working closely with UK-registered charities, international NGOs, employers and professional global mobility providers.
Facilitating opportunities for candidates who have relocated to the UK to share their lived experience with peers and in expert forums.
Monitoring and evaluating outputs, outcomes and impact through a range of methodologies, including surveys, interviews and focus groups, with findings informing programme design and reporting.

How Talent Beyond Boundaries UK activities deliver public benefit

Talent Beyond Boundaries remains the only organisation globally dedicated exclusively to advancing displaced talent mobility. Its work continues to receive strong support from government, the private sector, civil society, and the wider community in the UK.

Through these activities, the CIO delivers clear public benefit by fulfilling its charitable objects to:

Relieve unemployment, poverty, distress and financial hardship among forcibly displaced persons by promoting and supporting skilled labour mobility pathways that enable their resettlement in the United Kingdom; and
Promote social inclusion among forcibly displaced persons who have resettled in the UK and may otherwise be socially excluded due to their economic position or status.

ACHIEVEMENTS AND PERFORMANCE IN 2024

Overall Organisational Progress

Across the UK, TBB continued to advance its mission of enabling displaced people to rebuild their lives through skilled employment and safe migration pathways. The organisation strengthened collaboration with employers, government departments, and integration partners to ensure equitable access to work and settlement opportunities.

In 2024, TBB provided leadership as the only implementing partner of the UK Government’s Displaced Talent Mobility Pathway, contributed to national and regional consultations on skills shortages, and deepened operational partnerships supporting candidates’ pre-departure and post-arrival integration. The UK remained a global leader in this space, frequently highlighted as a best-practice model for inclusive labour mobility.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

REPORT OF THE TRUSTEES - CONTINUED

Spotlight: Wales Programme (2024–2025)

During 2024, Talent Beyond Boundaries UK commenced delivery of its first dedicated Displaced Talent Mobility programme in Wales. Consistent with our broader, national charitable aims, the initiative focuses on building partnerships, engaging employers, and establishing the frameworks required to connect skilled refugees to work opportunities in key Welsh sectors.

Over the year, 53 employer engagement opportunities were generated, of which 41 remain active and 12 have closed due to lack of current hiring capacity or eligibility. TBB also engaged six integration and mobility partners and fourteen strategic partnership opportunities, including relationships with government agencies, referral organisations, and employer associations. While no interviews or job offers were recorded in this first year which was consistent with expectations in the start-up phase, substantial groundwork was completed, including the preparation of candidate submission lists in healthcare, construction, education, and technology.

Further, TBB delivered five webinars, hosted three employer events, attended one, and presented at three others, reaching a wide range of stakeholders. Notable progress was made with NHS Wales, Business Wales, and Careers Wales, alongside exploratory discussions with Transport for Wales and the Cardiff Capital Region Skills Partnership clusters.

Events and Engagement

TBB showcased its thought leadership and convening power through high-profile events. At London Tech Week, TBB presented alongside alumni to private sector audiences on the role of Displaced Talent Mobility in addressing global skill shortages in the tech sector. TBB also co-hosted the Displaced Talent for Europe Conference in Brussels, which gathered over 200 participants from across the UK and Europe, highlighting the UK’s leadership and sharing lessons learned to shape future success.

Research and Learning

TBB continued to invest in evidence-based learning and transparency of outcomes. In 2024, it published the UK Integration Report, providing insights into the experiences and outcomes of relocated candidates. The year also saw the launch of the Independent Evaluation of the Displaced Talent Mobility Programme, undertaken in partnership with the University of Oxford, which will inform ongoing programme design and policy engagement.

Awards and Recognition

2024 was a year of significant recognition for TBB and its partners:

Best Partnership Award – Talent Beyond Boundaries and Fragomen at the EMEA Expatriate Management and Mobility Awards (EMMAs) in London.
Better Society Award – recognising the partnership between Fragomen and TBB as the Best Corporate–International Charity Collaboration.
Candidate Recognition – TBB candidates were featured in the Heart of the Nation exhibition at the Migration Museum, which won Temporary or Touring Exhibition of the Year at the 2024 Museums & Heritage Awards.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

REPORT OF THE TRUSTEES – CONTINUED

Individual Achievement – TBB alumnus Ahmad Theibach was named International Nurse of the Year by the Nursing Times , reflecting the impact of displaced talent mobility on individuals and the UK workforce.

Challenges and Reflections

While 2024 marked a year of growth and recognition, the organisation also faced challenges. The UK General Election and associated policy changes temporarily slowed engagement with government officials and created uncertainty among candidates and employers. In parallel, leadership transition occurred within TBB, with the Global CEO stepping down in August 2024 and a new Global CEO appointed in November 2024. Despite these transitions, TBB maintained stability and focus, continuing to deliver on its charitable objectives and laying strong foundations for expanded impact in 2025.

Key Projects

In 2024, TBB UK contributed to a series of major international initiatives expanding displaced talent mobility across Europe and beyond which are cited in this Annual Report:

Displaced Talent Mobility Pilot (DTMP): In partnership with the UK Home Office, a tailored Skilled Worker visa pathway enabling eligible displaced professionals to work in the UK.
Displaced Talent for Europe (DT4E): IOM-led, European Commission–funded project supporting labour mobility pathways in the UK, Belgium, Ireland, and Portugal.
Displaced Talent for Europe 2 (DT4E 2.0): Second-phase EU-funded programme, led by IOM, deepening evidence and implementation across Belgium, France, and Slovakia. Skills, Talent and Empowerment through Pathways (STEP): FCEI-led, EU-funded initiative advancing displaced talent mobility in Italy, Spain, and Ireland.
World Bank Innovation Challenge: Joint award to TBB and the University of Antwerp to research scalable solutions for cross-border labour mobility and improved labour market integration of refugees and migrants.

FINANCIAL REVIEW

The financial statements are set out on pages 9 to 14. 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 2024, the charity recorded £845,577 of income and £1,086,538 of expenditure resulting in a total fund value of £75,014 in deficit. There was £46,735 held in restricted fund balances and £(121,749) in unrestricted balances.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

Financial outlook

The charity is forecasting continued levels of income in 2025 in connection with Displaced Talent Mobility programmes across the UK and Europe, through private philanthropy, employment engagement and with the Welsh and Scottish governments. The charity continues to partner with IOM and broader STEP in implementing European Commission funded projects.

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 charity has a shared mission with Talent Beyond Boundaries’ charities in Canada, Australia and the US, where there are operating licenses agreements between the charities, and unrestricted grants as issued to support operating costs and reserves. 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 charity’s assets are safeguarded against unauthorised use or disposition;
Proper and reliable financial controls are maintained; and
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.

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

The charity’s overall size and function have continued to evolve positively in line with the growth of programming across Europe. During this period, TBB UK has served as the centre of gravity for the organisation’s administrative and operational expansion into Europe, providing the legal entity, infrastructure, and systems through which new activities have been delivered. This has enabled the charity to advance its purposes in additional countries through the engagement of specialist consultants while the appropriate longterm legal framework for European operations is being established. The increase in European funding and the widening scope of activity reflect this expanding portfolio.

In relation to staffing, wage increases during the year were primarily driven by staff progression, promotions, and adjustments aligned with inflation. These changes supported the retention and development of skilled personnel essential to delivering our programmes. While this resulted in an increase in personnel costs, it was a planned and necessary investment to sustain programme quality and continuity in the UK, particularly at a time of organisational growth and heightened operational demands.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

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:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and
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

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 2024.

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:

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
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 12 Hillbourne Road

Poole BH17 7JB

Date: 12/21/2025

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2024

				2024	2023
	Notes	Unrestricted	Restricted	Total	Total
		£	£	£	£
Income
Donations from individuals		6,991	-	6,991	236
Donations from corporates		9,024	19,210	28,234	166,697
Grants from Foundations		-	84,810	84,810	47,500
Grants from Government	2	-	445,411	445,411	472,744
Contributions from TBB entities		229,932	4,262	234,194	206,966
Other income		1,092	-	1,092	630
		─────	─────	─────	─────
Total income		247,039	553,693	800,732	894,773
		─────	─────	─────	─────
Expenditure:
Expenditure on charitable activities:		534,734	506,959	1,041,693	898,580
		─────	─────	─────	─────
Total expenditure	3	534,734	506,959	1,041,693	898,580
		─────	─────	─────	─────
Net income/(expenditure) for the year		(287,695)	46,734	(240,961)	(3,807)
Transfer of funds		-	-	-	-
Exchange rate gains/(losses)		(2,872)	-	(2,872)	(3,922)
		─────	─────	─────	─────
Net movement in funds		(290,567)	46,734	(243,833)	(7,729)
Reconciliation of funds:
Total funds brought forward		168,818	1	168,819	176,548
		─────	─────	─────	─────
Total funds carried forward		£(121,749)	£46,735	£(75,014)	£168,819
		═════	═════	═════	═════

All amounts relate to continuing activities.

The notes on pages 11 to 14 form part of these financial statements

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

BALANCE SHEET AS AT 31 DECEMBER 2024

			2024		2023
	Note
		£	£	£	£
Current Assets
Debtors	5	166,941		132,683
Cash at Bank and in hand		115,942		74,621

		282,883		207,304
Creditors:
Amounts falling due within 1
year	6	(357,897)		(38,485)
Net Current Assets/(Liabilities)			(75,014)		168,819

Net Assets			£(75,014)		£168,819
Reserves
Unrestricted Funds			(121,749)		168,818
Restricted Funds	8		46,735		1

Total Funds			£(75,014)		£168,819

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 11 to 14 form part of these financial statements

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

2. GRANTS FROM GOVERNMENT

GRANTS FROM GOVERNMENT
	Unrestricted	Restricted	2024	2023
	£	£	£	£
Home Office (Displaced Talent Pilot)	-	-	-	80,500
West London NHS Trust	-	-	-	3,218
NHS Scotland	-	32,775	32,775	41,500
DT4E 1.0 (EU Commission)	-	214,773	214,773	187,506
DT4E 2.0 (EU Commission)	-	33,069	33,069	-
Welsh	-	67,282	67,282	-
STEP (EU Commission)	-	61,661	61,661	-
NHS Cohort 7	-	-	-	99,872
NHS Professionals	-	1,351	1,351	42,622
Home Office	-	34,500	34,500	-
Antwerp University (should have been in Grants
from Foundations in 2023)	-	-	-	17,526
	-	445,411	445,411	472,745

EXPENDITURE
	Unrestricted	Restricted	2024	2023
	£	£	£	£
Candidate expenses	11,399	1,352	12,751	112,252
Wages and salaries	378,954	330,836	709,790	639,913
Meetings and travel	6,264	18,989	25,253	32,716
Consulting - EU program staffing1	113,077	151,908	264,985	79,370
Communications	1,176	479	1,655	4,245
Independent examiner and accounting fees	9,032	-	9,032	1,275
Conferences and events	702	979	1,681	9,244
Alumni expenses	317	2,416	2,733	7,658
External software	-		-	585
Rent, insurance and office costs	2,857	-	2,857	8,313
Office supplies and equipment	2,511	-	2,511	-
Training and development	6,575	-	6,575	262
Other expenditure	1,870	-	1,870	2,747
	534,734	506,959	1,041,693	898,580

1 Expanded EU work and funding were delivered via UK-contracted consultants pending establishment of a dedicated EU entity.

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

4. STAFF COSTS

STAFF COSTS
	2024	2023
	£	£
Salaries and wages	635,270	572,160
Social Security costs	62,475	61,264
Pension costs	12,045	6,489
	709,790	639,913

The average number of persons employed by the charity during the year was 10.42 (2023 – 10.25).

Two employees received emoluments in excess of £60,000 (2023 – 3).

5.	DEBTORS
		2024	2023
		£	£
	Advance to Belgian affiliate	12,170	6,202
	Grant receivable2	152,001	97,730
	Debtors	2,770	28,750
		166,941	132,682
6.	CREDITORS:Amounts falling due within one year
		2024	2023
		£	£
	Trade creditors	268	6,340
	Social security costs	4,563	23,207
	Deferred income3	349,861	-
	Accruals	3,205	4,878
	The Cameron Foundation (see note 11)	-	4,060
		357,897	38,485

7. RESTRICTED FUNDS

RESTRICTED FUNDS
	Balance at	Income	Expenditure	Transfer	Balance at
	1 January			between funds	31 December
	2024				2024
	£	£	£	£	£
ACRI	-	34,270	(24,480)	-	9,790
NHS Scotland	-	32,775	(32,775)	-	-
DT4E 1.0 (EU Commission)4	1	219,034	(253,708)	-	(34,673)
Welsh	-	67,282	(67,032)	-	250
Antwep WBI	-	-	(610)	-	(610)
Bosch	-	24,004	(18,004)	-	6,000
DT4E 2.0 (EU Commission)	-	33,069	(33,069)	-	-
GIZ	-	19,210	-	-	19,210
Home Office	-	34,500	(3,548)	-	30,952
Mattioli	-	14,493	(30)	-	14,463
STEP (EU Commission)	-	61,660	(61,660)	-	-
NHS Professionals	-	1,353	-	-	1,353
Unbound Philanthropy	-	12,043	(12,043)	-	-
	1	553,693	(506,959)	-	46,735

2 Grant receivable - Contributions Government from DT4E1.0 from EU Commision

3 Deferred income - Contributions received to be delivered in 2025 from Welsh, STEP, Bosch & Unbound Philanthropy

4 Debit balance due to timing

TALENT BEYOND BOUNDARIES UK Charity Number: 1193389

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

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.

11. RELATED PARTY TRANSACTIONS

During the year, the charity received £395,039 (2023 - £206,966) from Talent Beyond Boundaries Inc, a charitable foundation based in the US. Talent Beyond Boundaries UK shares resources and information with this charity in furtherance of its main purpose.