PA Foundation Annual Report and Accounts Twenty twenty-four ## MISSION STATEMENT The mission of The PA Foundation is to develop and inspire people, particularly those facing disadvantage, to be the innovators and leaders of tomorrow; applying their ingenuity to solve the world’s biggest challenges. THE PA FOUNDATION ANNUAL REPORT AND ACCOUNTS 2024 ## Contents 1.0 INTRODUCTION 1.1 A note from our Chair 02 |2.0|
TRUSTEES’ REPORT|| |---|---|---| |2.1|Introduction|06| |2.2|Strategy overview|07| |2.3|Impact|12| |2.4|PA people in action|49| |2.5|Additional reporting|54| - 3.0 INDEPENDENT AUDITORS’ REPORT 3.1 Overview of 64 key matters - 3.2 Statement of 68 financial activities - 3.3 Notes to the 71 financial statements 01 THE PA FOUNDATION A NOTE FROM OUR CHAIR 1.1 ## A note from our Chair The PA Foundation has people at the heart of everything we do. This includes the individuals we support through our funding, the partner organisations with whom we work to deliver change, and PA people who volunteer their time and expertise to provide the human connection between who we are and what we do. In 2024, we strengthened our focus on people by refining our objectives, building our ambition, and deepening our relationships. It truly has been a year of consolidation. After three years of operation, The PA Foundation has now funded 56 organisations; supporting projects that aim to reach more than 21,000 people across the UK, US, Nordics, and Netherlands. We have distributed over £5.4 million in funding. In 2024, we strengthened our Board by inviting Sheridan Ash MBE, CEO of Tech She Can, to become a trustee. We refreshed our strategy and finetuned our objectives to further ensure that the activities supported by our funding directly match the outcomes we want to see in the world. ## Our partnerships with charitable organisations We have strengthened our relationships with the organisations we support, fostering deep and collaborative partnerships. We have provided follow-on grants to 96 percent of our existing strategic funding partners to build on the work and momentum of previous years. We have also been able to convene our partners to facilitate connections, and provide an opportunity for them to share best practice and strengthen their networks and communication. Through the Ingenious Investment Fund, we have increased the amount of unrestricted grants for ingenious ideas by 55 percent from the previous year. ## Our partnership with PA Over the past 12 months, we expanded the ways in which PA people are able to volunteer their time and expertise. These amazing volunteers have dedicated thousands of hours to the Foundation’s work. They have worked as mentors and role models, offering practical and emotional support and guidance to hundreds of individuals: young people from disadvantaged backgrounds who need the tools to continue their studies or find apprenticeships; prison leavers looking to rebuild their lives; or refugees and migrants who want to access the job market and contribute to their host country. 02 THE PA FOUNDATION A NOTE FROM OUR CHAIR ## Our collective impact With all this activity, it is difficult to pull out the highlights from this year. Indeed, there is a whole section of this report dedicated to the achievements and impact of our partner organisations. However, as I reflect on our progress, a couple of things do stand out. Our core work to support young people in STEM-related subjects and careers has gone from strength to strength. Making up 57 percent of our funds, this support helps children from five years old to university students. We are continuing to level the playing field for young people pursuing careers in a dynamic labour market. This has been achieved through activities and support, including bursaries for STEMrelated courses and developing openaccess high-quality STEM resources. Through the work we have been doing with prison leavers, we are responding to the tough challenges faced by those in government and the prison service on a daily basis. I believe that by bringing our partners together and introducing the expertise of PA people, we are making a tangible difference. I was particularly proud to see PA’s support include more than 100 volunteers visiting prisons to deliver employability workshops this year. I look forward to seeing this continue. I have also been excited to see the work that has taken place in PA’s offices across the Nordics. In Denmark, we have set up a new district coding club offering access and skills to young people from the local area. In Norway and Sweden, our work with migrants and refugees continues to grow. Once again, I am delighted that The PA Foundation’s work has been recognised nationally in the UK. In 2024, we were honoured to win ‘Social Mobility Initiative of the Year’ at the British Diversity Awards. We were also winners in the 'Innovation' category at the UK Social Mobility Awards, and our partnership with The Economist Educational Foundation won at the Business Charity Awards. ## Our future (together) Geopolitical and technological changes in 2024 continue to affect people on a personal level. Change can offer new opportunities but it can also introduce new, or heighten existing, challenges. As we look ahead, we will continue to be focused on people and equity, making sure our funds go where they are needed the most. We will build our work to support women and girls as a priority, but also continue the work we have already started with our existing charity partners and causes. We are also committed to increasing our efforts to capture and evaluate our impact through a new monitoring framework, so we can focus on achieving our ambitious plans. In a turbulent global context, where funding for social initiatives is likely to become more limited, we remain committed to investing in our communities. We continue to believe that we have a responsibility to support marginalised individuals and to help them unlock their potential, which will enrich both their lives and our communities. As ever, I am hugely grateful to everyone who is taking action with us and contributing to this mission. Anita Chandraker Chair of The PA Foundation Board of Trustees 03 THÈPA F NDATIO ¥4 THÈ PA FOUNDATION -> TRUSTÈÈS. kÈPOkT 2.0 Trustees, report 4 06 THE PA FOUNDATION TRUSTEES’ REPORT INTRODUCTION 2.1 ## Introduction The trustees of The PA Foundation (‘the Charity’) present their report and the audited financial statements for the financial year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in section 3.3 of the financial statements. They comply with the Charity’s Memorandum and Articles of Association, the Companies Act 2006, and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition (effective 1 January 2019). ## Mission The PA Foundation aims to develop and inspire people, particularly those facing disadvantage, to be the innovators and leaders of tomorrow; applying their ingenuity to solve the world’s biggest challenges. ## Charitable objects The Charity’s objects are restricted specifically to the advancement of education for the public benefit through the encouragement and support, financially or otherwise, of innovation and learning: in particular for those who are in need as a result of financial or any other disadvantage. We do this by: - **A** The promotion, improvement, and development of leadership and management skills; and - **B** The provision, encouragement, and promotion of education and the skills needed in employment, instruction or training in professions, vocations, industries, crafts, or trades. Our target participant groups are: - Those facing disadvantage, particularly those from lowincome backgrounds, as well as those facing multiple barriers based on universal or contextual characteristics. - Organisations with charitable purposes and demonstrable outcomes relating to education, skills, and employment. ## Public benefit The trustees confirm that they have complied with the requirements of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. The Charity’s activities, which include bursaries, programme delivery, and educational resources, all provide public benefits. Public benefit is also demonstrated throughout this report. In particular, the trustees have considered whether grants being awarded by the Charity are for the public benefit. 06 THE PA FOUNDATION STRATEGY OVERVIEW ## 2.2 ## Strategy overview Our impact is rooted in our focused strategy, which revolves around two key programmes. The second ‘Community innovators’, builds capacity within the charity and not-for-profit sector through bootcamps and pro-bono consulting projects. The first is ‘Be ingenious’, which is our global education and skills development programme. Working with our chosen charity partners, we provide mentoring, work experience, and career insights (particularly in STEM careers and subjects). We prioritise support to people facing disadvantage, particularly those from low-income backgrounds, as well as those facing multiple barriers based on universal or contextual characteristics. With both programmes, we partner with organisations that have been established with charitable purposes working towards providing education and developing skills and employment opportunities. 07 THE PA FOUNDATION STRATEGY OVERVIEW ## Strategy at a glance ‘Be ingenious’ initiative Target reach: 9,000 people per year **----- Start of picture text -----**
Start-up Skill-up Step-up Springboard
Who?
Those facing disadvantage, particularly those from low-income backgrounds, as well as those facing multiple barriers based on universal
or contextual characteristics.
What? Focused and targeted training STEM learning opportunities >3 month one-to-one One week work
in employability skills and and training for in-demand mentoring experiences. placement
career insight experiences. technical skills. opportunities.
Intended outcomes Opportunities for any
• 12- to 16-year-olds have • People aged 18+ from • 15- to 17-year-olds
age group to:
improved access to quality disadvantaged backgrounds from disadvantaged
• Be better informed about STEM education and have access to inspiring backgrounds given one
employment opportunities learning resources. PA employee mentors. week work placement
and the future world of work. at PA Consulting
• Any age group has increased • Bursaries given to people with 12 months of
• Improve employability by access to formalised from disadvantaged ongoing support.
gaining leadership and learning opportunities backgrounds to pursue STEM
management skills. in STEM subjects such as subjects alongside mentoring
coding courses. opportunities.
• Improve self-esteem
and confidence.
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08 **----- Start of picture text -----**
THE PA FOUNDATION STRATEGY OVERVIEW
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‘Community Innovators’ initiative Target reach: 100 charitable organisations per year **----- Start of picture text -----**
Bootcamps / accelerators
Who? Organisations with charitable purposes and demonstrable outcomes relating to education,
skills, and employment, as well as those supporting people facing multiple barriers
based on universal or contextual characteristics.
What? Targeted support to charitable organisations and social enterprises to build capacity and grow.
Intended Charitable organisations and social enterprises increase their income, reach, and impact across
outcomes our communities.
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09 THE PA FOUNDATION STRATEGY OVERVIEW **----- Start of picture text -----**
Ingenious Investment Fund
Objective: support small charitable organisations deliver ingenious solutions
In 2024, we continued to support small charities and non-profits
to bring big ideas to life through ingenious solutions.
Ingenious Investment Fund
Who? Small charities and non-profits
What? The Fund provides unrestricted grants of up to £20,000 to small charities and non-profits with
ingenious solutions that support people from disadvantaged backgrounds to access better
education, skills, and employment opportunities. We invited organisations to pitch new ideas; from
the innovative use of technology, to new approaches aimed at supporting hard-to-reach groups.
Intended We funded 15 organisations to deliver initiatives across the UK, US, Nordics, and Netherlands.
outcomes
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In the pages that follow, we invite you to meet our charity partners, the people they’re supporting, and the PA people who are giving their time and expertise to accelerate our impact. 10 ThÉ PA FOUNDATIOM ÈTkATEGY OVERVEÉWI vi 11 THÉ PA FOUNDATION 4 IMPACT 2.34 J4 Il, 12 PAF •• 12 THE PA FOUNDATION IMPACT ## IMPACT ## Introduction In 2024, our aim to develop and inspire the innovators and leaders of tomorrow led us to continuing 96 percent of our strategic partnerships from the previous year. We also expanded our Ingenious Investment Fund to support smaller charitable organisations bring big ideas to life. We supported 43 charitable organisations delivering education, skills, and employability outcomes; and together we will reach nearly 9,000 participants across the UK, US, Nordics, and Netherlands. Funding through The PA Foundation has supported each of our partners to deliver projects that are critical to their mission. Just some of the highlights across our portfolio of projects include: **•** Scaling up our Ingenious Investment Fund from 11 grants in the previous year to 17 in 2024; supporting smaller organisations, and expanding our reach in the US, Nordics, and Netherlands. The Fund has enabled us to distribute unrestricted grants to initiatives that align with our mission: including breaking down barriers for young people with disabilities taking part in STEM initiatives, in association with Lightyear Foundation; and supporting women with refugee and migrant backgrounds to upskill in technology skills, with ReDI School Denmark. - Providing more opportunities for young people to learn technical coding skills through a number of different initiatives including: training community leaders to teach coding to young people with The Raspberry Pi Foundation; setting up new coding clubs with a focus on women and girls with Coding Pirates; offering coding courses to women with experience of the justice system through Catch22; and delivering coding hackathons for students attending Ada, National College for Digital Skills. - Increasing our efforts to offer more young people from disadvantaged backgrounds to experience the world of work; whether that be through formalised work experience opportunities with The Social Mobility Foundation and Career Ready, or insight days and shadowing opportunities to understand more about a range of different industries and careers through Big Friends, StandOut, and Upwardly Global. 14 THE PA FOUNDATION IMPACT ## IMPACT 2024 in numbers **----- Start of picture text -----**
£2m
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## >£2m Funding distributed across the UK, US, Nordics, and Netherlands. **----- Start of picture text -----**
8,942
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## 8,942 Participants being reached directly. **----- Start of picture text -----**
15,000
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## 15,000 Participants being reached indirectly **----- Start of picture text -----**
43
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43 Charitable organisations funded across the UK, US, Nordics, and Netherlands. **----- Start of picture text -----**
60
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**----- Start of picture text -----**
60
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Social Enterprises and nonprofits supported to improve their capacity and resilience. 15 THE PA FOUNDATION IMPACT ## IMPACT ## About our participants **----- Start of picture text -----**
100%
81% Disadvantaged young people
(under 20 years of age)
61% women and girls
50%
19% Disadvantaged adults
(including 16% Migrants/refugees,
2% Veterans, and 1% of those with
experience of the prison system)
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16 THE PA FOUNDATION IMPACT ## Recognition of our work in 2024 We were delighted to have received external recognition for our work in partnership with PA Consulting during 2024 for the following awards and nominations: ## British Diversity Awards 2024 Winner in the ‘Social Mobility Initiative of the Year’ category. Third Sector Business Charity Awards 2024 Winner in the ‘Professional Services’ category for our partnership with The Economist Educational Foundation. Photo: Social Mobility Awards 2024 ## Social Mobility Awards 2024 Winner in the ‘Innovation’ category for our work with those who have had experience with the criminal justice system. ## Better Society Awards 2025 Nominated for our partnership with PA Consulting in the ‘Philanthropy Award’ and ‘Corporate Volunteer Programme of the Year’ categories. Photo: Third Sector Business Charity Awards 2024 17 THÉ PA FOUNDATION 4 1MPAtT IMPACT 4 Partners catch jip bytes rea(ty FOUN￿rK)N C&i6NK ntNEMA LIPOINT poppy FAcfoRY Ra8pb*ry Pl FourKlalion PROBLEMA • Sammen om en lobb SOCIAL MOBILITY FOUNDATION Standout STEMETIES * UAF UnLtd UpwwdlyGlobal THE PA FOUNDATION IMPACT ## Our restricted funding partners At The PA Foundation, we believe that talent is evenly distributed but opportunities are not. In 2024, we expanded our reach; empowering even more individuals from disadvantaged backgrounds to develop the skills, confidence, and networks needed to help shape a better future. The impact we have made this year is testament to the power of collaboration between our partners and those we supported, and the potential that lies within every individual when given opportunities they would not otherwise have had access to.” Restricted funding provides our charity partners with targeted support for a specific programme of activities delivered for the benefit of their recipients. This could be for initiatives such as career coaching, access to higher education, or technical skills development. Financial support is earmarked for the specific activities agreed with The PA Foundation. Jack McMahon Head of The PA Foundation 19 THE PA FOUNDATION IMPACT PARTNER SPOTLIGHT ## The Poppy Factory The Poppy Factory’s mission is to support members of the UK Armed Forces community on their journey into employment, helping them overcome any barriers and transform their lives. The people it supports can face some of the most challenging situations in the ex-Forces community. Each year, its specialist team helps hundreds of veterans and family members to change their lives, empowering them to make positive progress on their own terms. ## Key achievements During 2024, The PA Foundation supported The Poppy Factory to build its veterans’ employment service in the Midlands region. The Midlands is one of its busiest locations and, with funding from The PA Foundation, it was able to help 140 veterans with their job search and facilitate 60 job starts. This employment service empowers veterans to plan their own future and supports them into jobs that reflect their aspirations, skills, and circumstances. This includes personalised action planning, CV and application preparation, interview advice, help preparing veterans for their new role, and engagement with health professionals or relevant service providers. The Poppy Factory also helps veterans to access funding to meet the training needs for their chosen career. Once a veteran has started work, The Poppy Factory stays in regular contact and provides ongoing, individualised in-work support, to ensure veterans succeed and stay in their new jobs. As well as helping veterans into jobs, The Poppy Factory’s assistance also improves their resilience, stability and wellbeing, so they are better equipped to stay employed and find work in the future. 20 THE PA FOUNDATION IMPACT ## What our partners and participants say: After Post Traumatic Stress Disorder (PTSD) put his life in danger, Army veteran Simon Garland Lo asked for help through his doctor and was referred to The Poppy Factory for employment support. “I served in the Royal Logistic Corps as a Movement Controller. I left the military in 2016. I didn’t know it at the time, but I had PTSD. I was put in contact with The Poppy Factory and my Employment Consultant, Andrew. He was very supportive. We worked on my CV and how to market myself. Andrew really helped me focus on what I wanted to do and made me understand just how much worth I have. I had three jobs offered to me, all for good roles. I took a job at Merseyrail, and I was recognised for having a strong work ethic. Later, I was given an award for helping someone who was in danger of taking their own life. Because of my own experience, I was able to relate to what he was going through. I was in the right place at the right time.” The difference between how things were for me, and how they are now, is like night and day.” Simon Garland UK Army Veteran 21 THE PA FOUNDATION IMPACT ## Key achievements ## PARTNER SPOTLIGHT ## Start Lighthouse Start Lighthouse is a non-profit organisation based in The Bronx, New York, dedicated to advancing childhood literacy through a social justice lens. The organisation was founded in 2020 in response to widespread school closures and the lack of equitable access to literacy resources, particularly for students in under-resourced communities. Its mission is to ensure that every child has access to high-quality books, meaningful literary experiences and culturally responsive programmes. Start Lighthouse transforms abandoned school libraries into vibrant Literacy Hubs that serve as centres of learning within schools, and reaches more than 2,100 students daily, primarily elementary children. In 2024, funding from The PA Foundation enabled Start Lighthouse to engage more than 600 students in literacy activities through Literacy Hub sessions and workshops. Integrated into the school day, Literacy Hub sessions offer small group instruction and targeted literacy activities. The sessions are designed to support students’ reading and comprehension skills through guided reading, interactive discussions, and hands-on activities that make learning engaging and fun. Start Lighthouse ran 32 workshops, led by seven visiting Black, Indigenous, and people of colour (BIPOC) authors. These workshops provided students with the unique opportunity to engage directly with authors, deepening their understanding of literature through interactive sessions. Students participated in activities such as reading aloud, discussions, and writing exercises, allowing them to explore the craft of writing and storytelling from the perspective of professional authors. Each workshop also included personalised programming tailored to the needs and interests of the students. With support from The PA Foundation, Start Lighthouse also distributed over 3,000 multicultural books to students through its home library shopping experience. Through this experience, students can select five brand-new multicultural books to add to their personal libraries; encouraging a lifelong love of reading. This activity promotes literacy and helps students build a diverse collection of books that reflect different cultures and experiences. 22 THE PA FOUNDATION IMPACT ## What our partners and participants say: “Start Lighthouse has imbued a lasting literacy culture in our school. My students have a love of reading, now more than ever before. Start Lighthouse’s programming is transforming my students into tomorrow’s changemakers and activists.” Principal Danielle Keane P.S.5 Port Morris “The joyous environment of the Literacy Hub leaves me breathless. Here, my sisters can read books that show them the beauty within their hair. I love seeing girls like me as a character. I was once a five-year-old girl, yearning for diversity and now we have access to books telling the stories of our communities too. This is because of Start Lighthouse.” ## Mariah ## Student PA’s support has been instrumental in helping us expand this impact. Thanks to their partnership, we’ve been able to launch transformative residencies with Latinx authors and artists, ensuring students are exposed to literature that reflects their experiences. Their support has also helped us provide targeted literacy resources for English Language Learners, ensuring they have the tools they need to thrive, while strengthening our Literacy Hubs with more culturally relevant programming that fosters a deep love of reading and learning.” ## Rina Madhani Co-Founder and Executive Director, Start Lighthouse 23 THE PA FOUNDATION IMPACT ## PARTNER SPOTLIGHT ## Coding Pirates ## Coding Pirates is a Danish organisation that creates leisure activities for children and young people to develop their technological skills and creativity. It brings together IT professionals, teachers, programmers, researchers, and entrepreneurs to help children and young people explore technology at an early age. The organisation aims to help children become skilled and confident to use technology in their future everyday lives, education and jobs. It particularly aims to engage girls and women, and works in diverse socio-economic areas. Coding Pirates offers physical clubs and online clubs. The online clubs are for children who are unable to attend school due to psychological or physical challenges, or who can simply not cope with an ordinary school environment. These children are often marginalised, and these clubs help to bring them back in contact with other children and teachers. ## Key achievements In collaboration with The PA Foundation, Coding Pirates has opened several associations in the Greater Copenhagen area, and it is working to create more and better participation opportunities for all children, regardless of gender and background. In 2024, funding from The PA Foundation enabled Coding Pirates to run in-person clubs with 20 children and five volunteers per season (13 weeks in Spring and Autumn). A further 30 children participated in the online club per season. These clubs give the children a community where they can share interests and learn with each other. Importantly, it also builds a valuable community for the adult volunteers. In 2024, Coding Pirates and PA also collaborated to set up their own coding club at PA’s offices in Copenhagen, bringing in PA experts to share their digital and coding expertise. Two cohorts of students aged eight to 14 years have completed the 12-week course, which promotes technological creativity through fun activities in programming, robotics, 3D modelling, 3D printing, and digital skills. 24 THE PA FOUNDATION IMPACT ## What our partners and participants say: “Before I joined Coding Pirates, I had never even used a computer. We don’t really learn about this at school, so it’s really cool to do it here! I’ve tried so many fun things, like Scratch, where I made my own balloon and candy games, and even Roblox Studio, where I designed my own worlds. It’s so cool when you see something we coded actually work. Every Monday, we have fun, eat pizza, and learn new things. I never thought I’d be able to do stuff like this, but now I know I can. It feels like being a real pirate – discovering new things and having fun along the way” ## Coding Pirates participant, 9 “Coding Pirates was a huge success for our son, and in both cases, he was engaged and actively contributed. He also handled being social, as it was online and in a safe environment at home and without new stimuli to cope with." ## Parent of Coding Pirates participant The collaboration between The PA Foundation and Coding Pirates makes a huge contribution to the work that we do in Coding Pirates. We have a lot of children on our waiting lists, so the support to open new departments is in the core of our purpose. Adding to this is the possibility to focus more on welcoming girls in our community. The collaboration with The PA Foundation has helped us increase the number of girls in our clubs and we are able to continuously highlight girls in STEM. Last, but not least, the collaboration helps us run our Online Club for children who are currently not able to go to school. For these marginalised children, social, creative activities in a safe environment mean the world.” Louise Overgaard CEO, Coding Pirates 25 THE PA FOUNDATION IMPACT PARTNER SPOTLIGHT ## UAF UAF is an independent Foundation that represents the interests of refugee students and professionals in the Netherlands. It offers refugees opportunities to develop themselves in study and work. UAF provides personalised advice, guidance, financial support, and access to professional networks. UAF also identifies bottlenecks and acts as an advocate; working with educational institutions, employers and local authorities on equal opportunities for refugees. UAF shares knowledge and experience, encourages regional co-operation, and develops new, smart routes to the labour market in sectors where job opportunities exist – such as healthcare, technology, and education. ## Key achievements With support from The PA Foundation, in 2024 UAF provided guidance and support to 837 refugee students with the ‘En route to Work programme’. UAF organised 11 job application training sessions, and provided individual guidance in preparing for job interviews and career guidance. UAF career counsellors paid attention to barriers that refugees encounter during the process to enter the labour market. Because refugees understand the Dutch context better through the guidance of UAF, they are better prepared and feel more confident in the application process. Through UAF support, several refugees found a job, internship, or work experience placement in government ministries or large private sector organisations There were also several placements in the field of healthcare, social care, and IT. In addition, The PA Foundation supported UAF to provide guidance and support to 113 refugees seeking asylum in 2024. While awaiting asylum approval, the refugees were encouraged to use this time effectively by learning the Dutch language and bridging knowledge gaps, as well as other study preparation requirements. A UAF counsellor helped them in their search for study options, and vocational training to obtain a job. The funding also covered the costs of books, language courses (Dutch and English), study and vocational training fees, laptops, and travel. In this way, the process of civic participation in society will be accelerated when the refugees become a status holder. ## The PA team in The Netherlands supported UAF’s work in a number of areas including awareness raising, mentor support, and strategic advice. Building on this, and aligning with their core client work, PA went further to look at how to improve the experience of migrants in the Dutch labour market at a systemic level. 26 THE PA FOUNDATION IMPACT ## What our partners and participants say: In Syria, Eyad (33) worked as an engineer at the Ministry of Economic Affairs, among others. He shared: “Once in the Netherlands, I applied to several companies but it was not easy as the companies seemed nervous about employing someone with my background. Thankfully, I was brought into contact with Nederlandse Spoorwegen (Dutch Railways) via the UAF.” Eyad was given the opportunity to gain work experience at Nederlandse Spoorwegen, which he did with great dedication and success. As a result, he now works for the company as a maintenance engineer. We warmly thank The PA Foundation for its involvement in our work and its support for the UAF guidance of refugee students during the application process and during their first steps into the labour market. I would also like to take this opportunity to express our appreciation for the excellent and rewarding collaboration with PA in the Netherlands in various projects, such as the mentor support and the job application training, which increases our social impact.” Mirjam Huisman CEO, UAF 27 THE PA FOUNDATION IMPACT ## Key achievements PARTNER SPOTLIGHT ## StandOut StandOut’s mission is that more people leaving prison are empowered to transform their own lives, realise their potential, and leave the justice system for good. Each journey is individual and leaving prison is not easy. StandOut offers intensive programmes for those inside prison, followed by oneto-one coaching and holistic support after release, for as long as required. StandOut is determined that more people leaving prison are empowered to make positive changes that have an impact on them, their families, and society. In 2024, funding from The PA Foundation supported the delivery of the StandOut programme in its partner prisons and communities. The programme starts with an intensive 12-day course in prison that combines group work with individual sessions. Coaches get to know each person, their needs, and their hopes for the future. The course includes modules on conflict management, building resilience, and mental wellbeing, alongside employability. StandOut delivered 11 courses to 143 participants, with 103 participants successfully completing the course. Through the partnership with StandOut, more than 100 PA volunteers have so far attended prisons across London (HMPs Wandsworth, Pentonville, and Wormwood Scrubs) to work on a oneto one basis with serving prisoners on CV writing, interview skills, and employability. These sessions also provide people in prison with opportunities to connect with people in the community, and practice soft skills such as professional conversations – the value of which cannot be underestimated. The PA Foundation’s funding supported StandOut’s expansion into HMP Wormwood Scrubs. 28 THE PA FOUNDATION IMPACT ## What our partners and participants say: “I was made to feel that even though I was in prison, I could still achieve and better myself. StandOut helped me stay motivated and positive, which gives people hope that even after prison they can still achieve and live a prosperous life.” ## StandOut participant, Anonymous “I learned a lot during these three weeks. The important one was public speaking, coming out of my comfort zone and speaking in front of unknown people - that was a big boost on my confidence level." ## StandOut participant, Anonymous PA volunteers bring such a wealth of knowledge, experience, different backgrounds, as well as positivity and kindness in the sessions they attend.” Charlotte Partnerships Lead at StandOut 29 THE PA FOUNDATION IMPACT ## IMPACT Partner overviews In the UK Ada’s mission is to educate and empower the next generation of diverse digital talent. Through the quality of education it delivers, the depth of its industry partnerships, and its focus on diversity, it is changing the face of the tech sector – expanding the talent pipeline and transforming lives. Ada is a specialist Further Education college, where every student aged 16 to 19 studies Computer Science. All Higher Level students and Degree Apprentices work in skills shortage disciplines in innovative, blue-chip companies. ## Our impact together We are supporting outreach activities to help 126 individuals, especially those leaving Ada’s sixth form, secure apprenticeships. We are also supporting the launch of an alumni programme to understand the needs of up to 700 former students and provide career support for their future progression. The Bytes Project has a mission to help young people achieve their full potential and overcome any barriers they may face. Each year, the organisation aims to ensure that more than 3,000 young people access digital technology in communities of promise. The Bytes Project has been working with the most disadvantaged young people in Northern Ireland for nearly three decades. ## Our impact together We are engaging 100 young people in the Belfast area through a digital skills access programme. The programme aims to progress participants to accreditation that will prepare them for meaningful employment. Focus areas include workshops in creative digital skills (video editing, graphic design, coding, and web design) and a more intensive enhanced digital skills course. 30 THE PA FOUNDATION IMPACT ## Catch 22 designs and delivers Career Ready has a mission to boost social mobility and inclusion; ensuring every young person, regardless of background, is empowered to achieve their potential. Career Ready provides masterclasses, mentoring, and work experience opportunities, as well as promoting social mobility across the UK. ## Our impact together We are supporting 18 students from disadvantaged backgrounds in London to take part in the Career Ready programme. Over 15 months, students are supported with mentoring, paid internships, employability skill masterclasses, workplace visits, and access to the Alumni Network. public services that build resilience and aspiration in people and communities. Its Code 4000 programme delivers computer programming training/coding to people with experience of the prison system. ## Our impact together We are supporting 30 women with direct experience of the criminal justice system through a coding programme to obtain new skills, build confidence, and provide a springboard into employment. Participants will get one-to-one support throughout a 12-week programme and access to bespoke learning materials to enable the successful completion of the course. ## The Economist Educational Foundation is an independent charity that combines deep educational knowledge with the journalistic expertise of _The Economist_ newspaper. It leads high-quality and inspiring discussions that enable school-age children to be curious about news and current affairs; and develop their listening, critical thinking, and communication skills. ## Our impact together We are supporting students aged 10 to 16 from disadvantaged backgrounds to join inspiring, high-quality, expert-led discussions about Science, Technology, Engineering, Arts and Maths (STEAM) issues in the news. We are doing this through a series of free lessons, in-person workshops for 90 students at PA offices, and online events and discussions between children all over the world. One student will be awarded a PA-sponsored STEAM prize. 31 THE PA FOUNDATION IMPACT The Helena Kennedy Foundation promotes equality of opportunity, enabling disadvantaged Further Education students to realise their potential by supporting them with financial bursaries and mentoring through Higher Education into fulfilling careers. The Helena Kennedy Foundation beneficiaries are primarily disadvantaged students who have overcome significant barriers to continue with their education at university level. ## Our impact together We are continuing to partner with the Helena Kennedy Foundation to provide bursaries that support 33 students undertaking undergraduate study in STEM or STEM-related subjects. We are also supporting wraparound mentoring, wellbeing, and career guidance for the students. These bursaries remain in memory of the late Jason Robson, who was one of the founding trustees of The PA Foundation and a PA partner. The bursaries are reserved for those students who are keen to make a positive difference in the world. ## Making The Leap is a societal change charity whose mission is to transform the futures of young people from less advantaged socioeconomic backgrounds. It runs a range of programmes that help those aged 11 to 25 develop the skills, confidence, and outlook to succeed in their chosen career. The charity also raises awareness of social mobility issues among UK businesses and organisations, and encourages them to take positive action to help young people progress. ## Our impact together We are supporting students from low-income backgrounds to access high-quality careers education that builds their confidence and develops valuable attitudinal and character skills. We are focusing on three schools in the London area to provide more than 250 students with CV writing, career insights, mock interviews, and career journey presentations. 32 THE PA FOUNDATION IMPACT MyBnk delivers expert-led financial education programmes to five-to 37-year-olds – in-person and online. It aims to educate participants in money knowledge and skills, building confidence and giving participants the capability to make money choices to take control of their lives and futures. ## Our impact together We are supporting the delivery of financial education programmes in primary and secondary schools across the UK, in areas of high deprivation. We are reaching 3,075 young people aged five to 18, helping them to build their moneymanagement skills through engaging and interactive sessions. The programmes are delivered by MyBnk’s expert trainers and are tailored to the age group of participants. Orchardville is a registered charity and social enterprise committed to changing the lives of people with learning disabilities and autism. The organisation believes that with the right support, any individual with a learning disability or autism can reach their full potential and achieve their employment aspirations. ## Our impact together We are creating new employment opportunities for 30 people with disabilities in Northern Ireland, matching the untapped talent of the disabled workforce with sectors struggling to recruit. Participants are offered work placements and training, and employers are offered disability awareness training to give them greater confidence towards inclusion. The Raspberry Pi Foundation is a UKbased computing education charity with a mission to enable young people to realise their full potential through the power of computing and digital technologies. Its vision is that every young person develops the knowledge, skills, and confidence to use digital technologies effectively, and to be able to critically evaluate these technologies and confidently engage with technological change. ## Our impact together We are supporting 40 community educators to reach 250 young people in under-served communities who have unequal access to computing education. We are helping them to develop critical skills and confidence in computing. We are also strengthening the network of volunteers; connecting community members for peer support; delivering outreach to new clubs; and providing club volunteers with tools and resources. 33 THE PA FOUNDATION IMPACT The Social Mobility Foundation (SMF) works to broaden horizons, create opportunities, and unlock potential for ambitious young people facing structural barriers in education and work because of their socio-economic background. The SMF Aspiring Professionals Programme is open for young people aged 16 to 17 and runs for five years; providing students with access to higher education and workplace insights via professional mentoring, university application support, internship opportunities, and skill-development workshops. ## Our impact together We are engaging with 33 students from lower socio-economic backgrounds, through a five-day residential course with PA. This includes specialist skills sessions, personal statement guidance, recruitment guidance, and other opportunities for work-related experience. They are assigned a PA mentor for the nine-month mentoring period and are supported across a five-year programme until they reach employment. Stemettes is an award-winning charity working to engage, inform, and connect the next generation of women and non-binary people into STEAM by showcasing a diversity of people working in STEAM. Its vision is for all young women and nonbinary people to make informed decisions about careers in STEAM, so they can be proportionally represented in the field. ## Our impact together We are supporting 1,800 young women and non-binary people aged five to 25 to learn more about their interests and potential STEAM careers through intersectional programmes, impactful events and inspirational platforms. Through the mentoring programme, Student to Stemette, 20 young women are connected with PA volunteer mentors for training and support over four months. UnLtd supports enterprising people who are transforming our world for good. Its mission is to find social entrepreneurs with bold solutions to today’s challenges. Through funding and support, the charity helps social entrepreneurs to realise their potential and create lasting change. ## Our impact together We are supporting 60 social entrepreneurs to develop their business skills, by providing mentoring that helps them to scale their own impact. This support is linked to PA volunteers who deliver workshops and clinics that help entrepreneurs to learn and develop in specific areas, such as bid writing and developing funding proposals. 34 "en* P• 36 THE PA FOUNDATION IMPACT ## IMPACT Partner overviews Across the Nordics ## Big Friends is a mentoring programme in the Netherlands that supports children and young people from low-income families aged between six and 18 to become more self-confident. Big Friends connects children and young people with carefully selected and well-trained volunteers. These volunteers help to build bridges across age, culture, and social backgrounds within supervised settings. Its mission is to make a world of difference in the life of every child through a special friendship. ## Our impact together We are engaging young people from low-income families in Amsterdam and Rotterdam in ‘Future of Me’ sessions and a mentoring programme. In the Future of Me sessions, PA people help up to 24 young people get acquainted with the world of business, and explore their talents and future opportunities. So far, 15 students have been matched with PA mentors to build their self-confidence, resilience, and social skills. The vision of LøkkeFonden in Denmark is to develop projects that can empower vulnerable boys to complete a youth education programme, enter the labour market, and lead fulfilling lives as active and contributing members of Danish welfare society. ## Our impact together We are providing long-term support to more than 110 vulnerable boys to help them acquire the skills they need to complete upper secondary education. The boys attend a two-week learning camp and mandatory one-year group mentoring programme, supplemented by parental support. 36 THE PA FOUNDATION IMPACT ## Nema Problema is a non-profit organisation that works to strengthen integration in Sweden. The charity works with mentoring programmes, where a person who is new to Sweden is matched with an established mentor who has a similar professional and educational background. The mentoring programme aims to help people take steps towards the Swedish labour market. ## Our impact together We are delivering tailored mentoring to 40 job seekers looking to enter the Swedish labour market. This includes mentor/mentee pairings and support via skill enhancement sessions, job forums, developmental meetings, and networking. ## Sammen om en jobb’s mission in Norway is to help immigrants and refugees reach their potential through finding jobs where they can use their skills and competence. It does this through a mentoring programme for immigrants and refugees with higher education, as well as hosting networking events and workshops for them. ## Our impact together We are supporting 800 immigrants and refugees in Norway to secure employment in their chosen career. We are helping Sammen om en job to expand its digital community and increase the number of mentoring matches, including with PA volunteers. 37 THE PA FOUNDATION IMPACT ## IMPACT Partner overviews In the US Point Foundation empowers promising LGBTQ+ students in the US to achieve their full academic and leadership potential, and overcome barriers to better make a significant impact on society. ## Our impact together We are supporting 20 Point Black, Indigenous, and People of Colour (BIPOC) scholars and five Point Community College Scholars through scholarship funding. We are providing mentoring and leadership development to expand their access to higher education and empower future LGBTQ+ leaders. Over the past 25 years, Upwardly Global has focused on providing career resources and tools to immigrants and immigrant-serving organisations. The charity aims to create an enabling environment that unlocks the potential of immigrant, refugee, and asylee professionals to rebuild their lives in the US. The charity has seen how securing skills-aligned, thriving-wage jobs transforms the lives of more than 12,000 job seekers – uplifting their families – and their ability to revitalise communities and contribute to economic growth in the US. ## Our impact together We are reaching up to 500 immigrant and refugee job seekers in California and New York, helping them to rebuild their lives and careers in the US. Participants are given access to critical skills, coaching, credentials, and professional networks to prepare them for high demand, high opportunity career pathways in fields including technology, finance, healthcare, and engineering. At least 50 percent of the participants are refugee new arrivals largely from Ukraine and Afghanistan. 38 THE PA FOUNDATION IMPACT Other unrestricted funding In addition to our restricted funding partners, we have provided unrestricted funds to the following organisations: 39 THE PA FOUNDATION IMPACT GoodWork in the UK creates meaningful, equitable employment opportunities for young people from marginalised communities, while enabling employers to make the systems and culture change needed for under-represented talent to thrive. ## Our impact together We are supporting high-potential, marginalised young people to access the training and opportunities they need to transition successfully into the workforce. This is done through programmes that help employers think differently about early careers (where hiring for potential is the norm) and support young people to navigate their careers with confidence, regardless of their background. Lær for Livet / Learn for Life is a Danish education programme, started in 2013 by the Egmont Foundation, with the objective to strengthen the educational competencies of vulnerable children, including children placed in care. It does this through supportive learning, enabling them to complete an upper secondary education. ## Our impact together We are providing support to vulnerable young people who have been placed into the care system. The children have access to holistic support through local youth clubs and youth camps to promote skills development and employability outcomes. 40 THE PA FOUNDATION IMPACT Our Ingenious Investment Fund / unrestricted funding With unrestricted funding, our charity partners have flexibility in pursuing their charitable missions. For instance, it can be used to support the running of core volunteer programmes, or to help fund other important activities that align with the organisations’ strategic priorities. Our Ingenious Investment Fund empowers small charities and non-profits by offering one-off unrestricted grants of up to £20,000 to turn their big ideas into reality. Operating across the UK, US, Nordics, and the Netherlands, the Fund invests in innovative solutions that help people from disadvantaged backgrounds gain better access to education, skills, and employment opportunities. In 2024, we increased the amount of unrestricted grants through the Fund by 55 percent from the previous year. 41 THE PA FOUNDATION IMPACT The Ingenious Investment Fund enables us to provide small charities with unrestricted funding, giving them the freedom to allocate resources where they will have the greatest impact. This support empowers them to create lasting change in our communities.” The PA Foundation distributed £340,000 of funding to 17 charitable organisations for the following initiatives: ## Fiona Scott Senior Community Engagement Manager, PA Consulting 42 THE PA FOUNDATION IMPACT Bristol Creative Industries will run an internship programme for its member organisations, which is open to individuals from diverse/ disadvantaged backgrounds. Empowr aims to equip low-income students with tech skills that lead to high-paying careers after graduation. This will be supported through an AI-powered Learning Management System designed to enhance and expand its educational programme. Kinetic Foundation will use football to engage young people to complete post-16 education, whilst developing their social and emotional skills. Leadership Brainery will provide students from under-represented backgrounds with academic coaching, mentorship, financial aid navigation, test preparation, and admissions support. The programme is designed to give students access to master’s and doctoral degrees. 43 THE PA FOUNDATION IMPACT Lightyear Foundation will support disabled children and young people to practically engage in STEM opportunities through labs, role models, and work inspiration trips. Native Scientists will connect students and scientists from the same migrant community through exciting hands-on activities, where science is communicated in a common heritage language. New Hampshire After School Network will mobilise its partners and networks to create an ecosystem that will increase access to STEM and career learning via out-of-school programmes across New Hampshire, US. Onwards & Upwards will launch XO Barbers, an in-prison barber finishing school, to inspire and train people who, upon release, will gain work experience at the XO Super Salon; offering haircuts and support to others in the community. 44 THE PA FOUNDATION IMPACT Rackets Cubed will offer integrated STEM education, racket sports, and nutrition for under-served young children aged between seven and 11. Red Balloon Learner Centre Cambridge will implement a science lab to increase access to STEM learning for the young people it works with. ReDI School DK will support women with refugee and migrant backgrounds to upskill in tech, by offering increased places on their data science course, and through AI workshops. STEMteachersNYC will provide opportunities for teachers to enhance their teaching practice through innovative, teacher-led STEM professional development workshops; cultivating excellence in STEM teaching, and promoting deep understanding and success for students. 45 THE PA FOUNDATION IMPACT Stichting Move will support children and young people who have fewer opportunities than their peers, to discover their talents and how to use them through community projects and social action. Teach a Man to Fish will run a 12-week Enterprise Adventure programme at five state schools aimed at teenagers from diverse backgrounds, supporting them to expand their horizons and learn vital life skills as they plan and launch a real business. The Jon Egging Trust will add a space-focused offer into its Inspirational Outreach programme to help unlock the potential of space-related opportunities for disadvantaged young people. Undestructable will support survivors of domestic abuse through a sixweek job training programme, whilst building a community of support with other survivors and creating products from post-consumer waste. 46 THE PA FOUNDATION IMPACT Zero Gravity Fund will power the UK’s top STEAM talent from lowopportunity areas with financial and career support, allowing students to realise their academic potential and secure their dream graduate role. We are incredibly grateful to The PA Foundation for supporting our mission to break down barriers in STEM for disabled and neurodivergent young people. With their support, we are expanding our reach, delivering transformative STEM experiences, celebrating disabled role models, and empowering young people to see themselves as the scientists, engineers, and innovators of tomorrow. This partnership is not just about funding – it’s about changing the face of STEM, ensuring that every young person, regardless of ability, has the opportunity to thrive and lead in shaping the future." Jeff Banks CEO, Lightyear Foundation 47 THÉ PA FOUNDATION 4 IMPACT Poch•l Handbook lor Iho•• wllh iimii•d conn•ciivlty Int•r•ctlv• u••r Intorf•c• on th• Pock•i HandtK￿l lof thos• wllh Ilmii•d conn•ctlvlty Virtiial & Augrnont•d Roailiiy Ti•ining Onl• cof Vlrlu•l & Augm•nl•d R•allty Training I'AZ THE PA FOUNDATION PA PEOPLE IN ACTION 2.4 PA people in action PA’s diverse teams give their time and expertise The PA Foundation amplifies its impact through the fantastic work of PA people, who volunteer their time and expertise to support our charity partners. PA people are passionate about building a positive human future and are united in the belief that doing good is the right thing to do. 49 THE PA FOUNDATION PA PEOPLE IN ACTION Thank you so much for PA’s part in running the workshop. This morning a student’s mum stopped me in the car park to tell me how much her son enjoyed it and as a result has asked if he can extend two of his days to full time after half term. I also spoke to another mum who was so impressed with her child’s motivation for STEM. Honestly, you are making a huge difference to some really disadvantaged young people.” Sam Nightingale Science Teacher, Red Balloon Learner Centre Cambridge Colleen Boyle PA agile expert and volunteer for Upwardly Global Upwardly Global is an amazing organisation that I’ve had the privilege of working with for the past few years. I was initially motivated to work with Upwardly Global because of my background working with students and parents in the immigrant and refugee community as an educator. I wanted to seize the opportunity to continue working with such a persistent and impressive set of individuals in my new career as a consultant, too. My volunteering with Upwardly Global has included providing individualised mock interviews, small group resumé review sessions, and panel facilitation for job seekers in various industries such as health and life sciences. Each time I volunteer, I am invigorated by the optimism and professionalism that Upwardly Global job seekers have in the face of so many systemic challenges and obstacles. The job seekers I interact with are poised, experienced, and have approached each engagement with a learning mindset – something I hope to emulate in my own interactions. It has been so rewarding to hear back from some of the job seekers I’ve met, to hear they landed a job or got a second-round interview. I hope that others will join us in our future volunteering events with Upwardly Global to share insights from their own professional journey and to hear about the truly inspirational stories of the Upwardly Global community as the future of our US workforce. 50 THE PA FOUNDATION PA PEOPLE IN ACTION ## Simon Hammerschmidt PA defence and security expert and volunteer for The Poppy Factory As a veteran, I have witnessed firsthand the sacrifices made by those who serve. Throughout my time in the military, in both combat and peacetime, I saw colleagues suffer horrific injuries. But it’s only since leaving the Army, that I have truly understood the societal challenges many veterans face after service. This awareness has deepened my commitment to giving back to those who have sacrificed so much for our freedom, yet often find themselves or their families struggling. The Poppy Factory’s mission is to provide life-changing support to wounded, injured, and sick veterans; helping them overcome barriers and regain independence through meaningful employment. Their work not only aligns with PA’s and my own values, but also with The PA Foundation’s core purpose: “To develop and inspire people, especially those facing disadvantage.” Seeing veterans rebuild their lives and careers through this support is incredibly rewarding. Supporting this cause isn’t just the right thing to do; it’s essential. Those who serve our country deserve gratitude, but more importantly, they deserve opportunities. Our partnership with this extraordinary organisation provides hands-on support, reinforcing the importance of purpose-driven work. For all these reasons, I am incredibly proud to sponsor our partnership with The Poppy Factory. ## Nora Hernandez PA operational innovation and improvement expert and volunteer for Start Lighthouse From the moment I learned about Start Lighthouse, I knew it was something special. Literacy is a gateway to opportunity, and every child deserves access to books that inspire and empower them. Volunteering here has been a rewarding experience – I have been able to witness first-hand how stories can spark curiosity and confidence in young readers. One of my favourite moments is when a child finds a book that truly resonates with them. Seeing their excitement as they dive into a story, ask questions, and make connections with their daily life or their dreams is exciting. It's also incredible how the impact extends beyond the classroom. Students become more enthusiastic about school and spark curiosity among their relatives when they bring books home. They also learn simple yet powerful techniques that are applicable to various aspects of their lives beyond reading. In addition to supporting the children, this experience has taught me so much. Communicating ideas in an engaging way, encouraging curiosity, and making literacy fun has been a challenge in the best way possible. Children can be a challenging audience, but their gratitude is heartwarming! Watching these young readers grow and develop their skills reminds me why programmes like Start Lighthouse are so important. I’m grateful to be part of a mission that gives children the tools they need to succeed – one book at a time. 51 THE PA FOUNDATION PA PEOPLE IN ACTION ## Olivia Selbie PA sustainability expert and volunteer for Unltd Over the past year, I have had a great opportunity to connect with UnLtd and the social entrepreneurs that it helps. I took part in the piloting and launch of a new tool UnLtd has developed to help social entrepreneurs monitor and estimate the social value of their work. I also helped deliver a workshop with pilot participants to inform the use of the new tool. At the tool launch, I met more than 20 social entrepreneurs working across the health and wellbeing sectors, and was excited to learn about the range of their work. Hearing some of the day-to-day realities of impact measurement within small organisations has helped bring new perspectives to my own work within impact management. I also took part in an UnLtd proposalwriting clinics, in which the PA team help social entrepreneurs strengthen fundraising proposals. Together, with PA colleagues, I worked with the organisation Guardian Ballers, which helps young people in disadvantages communities in Coventry. It was inspiring to meet the team and help them tell their story clearly to bring in much needed support. ## Morten Meltinis PA agile expert and volunteer for Coding Pirates As part of PA’s community engagement programme, I chose to volunteer with Coding Pirates to share my passion for computers and help children discover the world of IT. Technology is shaping the future, and I want to give children a solid introduction to coding in a fun and engaging way. At the same time, this experience has helped me grow, particularly in my ability to communicate complex topics in a simple and relatable manner. Our first season with Coding Pirates has been incredibly rewarding. Seeing the children’s enthusiasm, creativity, and eagerness to learn has been inspiring. Their curious and often unexpected questions have challenged me to adapt my explanations and improve my teaching skills. I volunteer for two main reasons: first, to equip children with skills that will be increasingly valuable in the future; and second, because I genuinely enjoy teaching. Watching children grasp new concepts and make rapid progress is truly fulfilling. It’s a pleasure to be part of a programme that sparks curiosity and builds confidence. Coding Pirates is more than just coding – it’s about learning, problemsolving, and having fun together. I’m grateful to be part of this journey. 52 1/1. 53 THE PA FOUNDATION ADDITIONAL REPORTING ## 2.5 ## Additional reporting A Structure, governance, and management The Charity was registered with Companies House in England and Wales as a company limited by guarantee with Articles of Association (as of 2 June 2021, registration number 13435338) and the Charity Commission for England and Wales (as of 15 November 2021, registration number 1196581). The PA Foundation is a wholly owned subsidiary undertaking of PA Holdings Limited (registration number 02235016), or ‘PA’ as referred throughout. Jacobs Solutions Inc. (“Jacobs”), a US-based company is the ultimate controlling party. ## Governance The Charity is governed by a Board of Trustees, who are also directors for the purposes of company law, which includes members who are connected to PA and members who are independent. While the Charity bears PA’s trading name, it is independent of PA and the trustees perform their duties under this guiding principle. New trustees are appointed by the existing trustees through an ordinary resolution and appointed for a twoyear term. The number of trustees shall not be less than five but shall not exceed eight. At the end of 2024, the Board comprised of seven trustees selected based on integrity and professional experience required by the Charity including legal, marketing, fundraising, and financial management. The Board decides on the overall strategic direction of the Charity, as well as approving and overseeing all policies. This includes determining the Charity’s priorities, setting budgets, authorising all grant-making activity and oversight of audit and risk management. The trustees met four times in 2024. All newly appointed trustees are given an induction to their role, including guidance on their responsibilities as trustees and the objects of the Charity. In addition, trustees are provided with a copy of the Charity’s Articles of Association, strategy, and policy documents. Trustees are not remunerated but are entitled to claim reasonable expenses for going about their work in support of the Charity and its objects. None of the trustees has any beneficial interest in the company. All trustees are members of the company and guarantee to contribute £1 in the event of a winding up. 54 THE PA FOUNDATION ADDITIONAL REPORTING ## Management The trustees delegate the day-today running of the Charity to the Charity’s Secretariat led by PA’s Head of Communities, who functions as the Head of The PA Foundation. The Head of The PA Foundation is ultimately accountable to the trustee Board for ensuring that the trustee Board meets its obligation to perform its functions within the available financial resources. The Head of The PA Foundation has overall executive responsibility for the Charity’s activities; is responsible to the Chair and the trustee Board for ensuring that its financial obligations and targets are met, and has overall executive responsibility for the Charity’s system of internal control. ## Risk management The trustees have reviewed the major strategic, operational, and financial risks to the Charity and have established systems to mitigate those risks. The Secretariat is responsible for management of risk and guiding trustees to consider further risks that could negatively impact the objects of the Charity. The trustees review the risk register at each general meeting, to test their relevance and to oversee any mitigation plans being carried out. The following risks have been identified as having the greatest potential impact on the achievement of the Charity’s strategic objectives: **----- Start of picture text -----**
Risk Mitigation
The reputational risk • The trustees are advised in their decision-making
of making awards
through expertise from within the Secretariat.
to inappropriate
recipients and • Robust due diligence process in place for all grant
purposes failing to recipients which is renewed on an annual basis.
qualify for public
benefit requirements. • Public benefit test assessed with each grant.
• Reporting process in place to capture evidence
of positive outcomes for public benefit.
The financial risk
of income source • Public commitment by PA to donate £10 million
dependency from of funding to the Charity over five years.
the founding • Diversification of funding from other
corporate donors.
sources to include individual giving.
• Maintenance of reserves policy and regular
scrutiny/management of finances to avoid
over-commitment of funds.
Safeguarding of
• Due diligence process on all grant
participants taking
part in activities recipients carried out which is
funded by the Charity. renewed on an annual basis.
• Check that policies exist for grant
recipients regarding safeguarding,
child protection, and do no harm.
• Grant recipients required to comply
with charities’ safeguarding policy.
• Regular reporting requirements
regarding safeguarding.
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The trustees consider that there is minimal credit risk and some exposure to foreign currency risk given its operations abroad. 55 THE PA FOUNDATION ADDITIONAL REPORTING ## B Strategy and objectives for the public benefit ## Grant making policy The Charity’s primary function is to disburse grants to charitable organisations through activities that align to its objects. The Charity’s grant making policy sets out the criteria and due diligence requirements for all organisations (charities and nonprofits) seeking to apply for grant funding. To be awarded a grant, trustees must first be satisfied that the activities proposed in the grant proposal are in furtherance of the Charity’s objects. Trustees can award grants to recipients on either a restricted or unrestricted basis, and either a onetime or multi-year basis. The Secretariat supports trustees by developing a pipeline of eligible grant applications and carrying out due diligence before trustees are asked to consider a grant proposal. The Charity considers applications from organisations that have been invited to apply or that choose to apply through its Ingenious Investment Fund. It is not currently accepting any ad-hoc unsolicited proposals. ## C Reference and administrative details Trustees Sheridan Ash Appointed 23 September 2024 Christine Berry Resigned 1 March 2024 Anita Chandraker (Chair) Neil Clayton Kully Janjuah Gemma Rogers Jo Scarlett Martin Tillisch Management Team (Secretariat) Jack McMahon Head of The PA Foundation ## Fiona Scott Senior Community Engagement manger Jasia Maczkiewicz Finance lead Megan Stanley Legal 56 THE PA FOUNDATION ADDITIONAL REPORTING ## Administrative details ## Charity number 1196581 (England and Wales) Company number 13435338 (England and Wales) ## Registered office 10 Bressenden Place London SW1E 5DN United Kingdom ## Website paconsulting.com/ the-pa-foundation ## Accountants RSM UK Tax and Accounting Limited Chartered Accountants The Pinnacle 170 Midsummer Boulevard Milton Keynes Buckinghamshire MK9 1BP ## Auditors Azets Audit Services 2nd Floor, Regis House 45 King William Street London EC4R 9AN United Kingdom ## Solicitors BDB Pitmans One Bartholomew Close London EC1A 7BL United Kingdom 57 THE PA FOUNDATION ADDITIONAL REPORTING ## D Financial review ## Income In March 2022, PA made a public commitment to support the Charity through donations of £10 million over a five-year period. The Charity’s fundraising policy sets out the approach to fundraising. The Charity generates funds from a number of sources including: - **I** annual monetary and in-kind donations from PA and its benefactors During 2024, the Charity recognised income of £2,120,026. To support fundraising efforts, the Charity is registered with the Fundraising Regulator in England, Wales and Northern Ireland, as well as engaging with the third-party portal JustGiving to receive donations. The Charity is grateful for the support of PA, its employees, and its benefactors for their generous continued donations and continued support. ## Expenditure The Charity’s expenditure in 2024 was £2,291,959 and 91 percent of all expenditure was directed towards grant funding to charitable organisations. - **II** donations from individuals connected to PA, including PA employees, their friends and family - **III** donations from individuals and third parties unconnected to PA. 58 THE PA FOUNDATION ADDITIONAL REPORTING ## Reserves policy As of 31 December 2024, the Charity has £468,304 of total / free reserves, all of which are unrestricted. The Charity’s reserves policy is reviewed annually and was amended by trustees on 9 December 2024. The trustees consider that the minimum level of reserves required to protect the Charity from the potential financial impact of known risks are between £300,000 - £500,000. The purpose of the reserves is primarily to: - protect the Charity and ensure that it can continue to operate if experiencing any fluctuation in income from year to year, including the minimal risk that PA funding commitment changes - meet all planned operational costs for the following year ## Investment policy The Charity’s approach to financial investments includes due consideration to ensuring the best possible financial return, exposure to risk of losing market value, and ability to manage liquidity risk. In 2024, no investments were made. - provide access to emergency funding for grants beyond the current year’s budget. 59 THE PA FOUNDATION ADDITIONAL REPORTING ## E Plans for future periods In its third year of operations, the Charity continued to build on its impact, develop strong partnerships, and begin funding at scale. In 2025, the Charity aims to: - **1** Continue refining our strategy and increase our support for women and girls across our portfolio by: - Adding new projects targeted at specifically supporting women and girls in STEM - Increasing our reach and support for women and girls across our existing projects - Looking at ways we can include men and boys within our projects to positively support more women and girls in STEM. - **2** Strengthen our approach to delivering and demonstrating our impact through: - Implementing a new log-frame which focuses our interventions strategically and provides a framework to communicate impact - Aggregate the monitoring and evaluation of data across our portfolio of projects to improve our evidence base of impact across our intervention areas. - **3** Create opportunities to increase and diversify income by: - Supporting new fundraising initiatives within PA and directly engaging with employees and alumni to share ways in which donations can be made - Engaging with key stakeholders to plan for future funding opportunities beyond 2026/27. 60 THE PA FOUNDATION ADDITIONAL REPORTING ## F Statement of trustees’ responsibilities The trustees, who are also directors for the purposes of company law, are responsible for preparing the Strategic report, Trustees’ Annual Report, and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently - observe the methods and principles in the Charities SORP - state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures 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 charitable company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for the safeguarding of assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - There is no relevant audit information of which the charitable company’s auditor is unaware - The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information - The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statement may differ from legislation in other jurisdictions. ## Independent auditor Azets Audit Services has expressed its willingness to be reappointed as the Charity’s auditor. A resolution to appoint Azets Audit Services will be put to the Trustee Board before the end of the next financial year. This report is prepared in accordance with the provision of Part 15 of the Companies Act 2006 relating to companies subject to the small companies regime. By order of the Board of Trustees ## Anita Chandraker Trustee (Chair) MAY 2025 - make judgements and estimates that are reasonable and prudent 61 THÉ PA FOUNDATION ADDifioNAL ItÉPOkTING 62 THE PA FOUNDATION INDEPENDENT AUDITORS REPORT 3.0 Independent auditors’ report to the members of The PA Foundation 63 THE PA FOUNDATION OVERVIEW OF KEY MATTERS ## 3.1 ## Overview of key matters ## Opinion We have audited the financial statements of The PA Foundation (the ‘charitable company’) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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). In our opinion, the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. 64 THE PA FOUNDATION OVERVIEW OF KEY MATTERS ## Basis for opinion ## We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## Conclusions relating to going concern In auditing the financial statements, we have concluded that the Report of the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. ## Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## Other information The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. ## Opinions on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees' report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees’ report has been prepared in accordance with applicable legal requirements. We have nothing to report in this regard. 65 THE PA FOUNDATION OVERVIEW OF KEY MATTERS ## Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ## Responsibilities of trustees - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - adequate accounting records have As explained more fully in the not been kept, or returns adequate trustees’ responsibilities statement, for our audit have not been the trustees, who are also directors received from branches not visited for the purposes of company law, by us; or are responsible for the preparation of the financial statements and for - **•** the financial statements are not being satisfied that they give a true - in agreement with the accounting and fair view, and for such internal - records and returns; or control as the trustees determine is - **•** certain disclosures of trustees’ necessary to enable the preparation remuneration specified by law are of financial statements that are free not made; or from material misstatement, whether due to fraud or error. - we have not received all the information and explanations we require for our audit; or In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. - the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report. ## Auditor’s responsibilities for the audit of financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 66 THE PA FOUNDATION OVERVIEW OF KEY MATTERS ## Extent to which the audit was considered capable of detecting irregularities, including fraud - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; - A further description of our - disclosures and testing to responsibilities is available on supporting documentation to the Financial Reporting Council’s assess compliance with applicable website at: www.frc.org.uk/Ourlaws and regulations; Work/Audit/Audit-and-assurance/ Standards-and-guidance/Standards- - **•** Performing audit work over the and-guidance-for-auditors/ risk of management bias and Auditors-responsibilities-foroverride of controls, including audit/Description-of-auditorstesting of journal entries and other responsibilities-for-audit.aspx. adjustments for appropriateness, evaluating the business rationale This description forms part of our - of significant transactions outside auditor’s report. - the normal course of business and reviewing accounting estimates for indicators of potential bias. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: - Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will - Reviewing minutes of meetings of those charged with governance; - Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection; be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. ## Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ## J Howard FCA (Senior Statutory Auditor) for and on behalf of Azets Audit Services Statutory Auditor 2nd Floor Regis House 45 King William Street London EC4R 9AN Date: 3 June 2025 67 THE PA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES ## 3.2 Statement of financial activities for the financial year ended 31 December 2024 **----- Start of picture text -----**
Year ended 31 Year ended 31
December 2024 December 2023
Notes £ £
Income
Donations
and legacies L 2,120,026 1,177,482
Total income 2,120,026 1,177,482
Expenditure
Cost of raising funds M 14,431 6,216
Charitable activities: N 2,277,528 2,168,795
Promotion of
education and skills
Total expenditure 2,291,959 2,175,011
Net income (171,933) (997,529)
Fund balances at 640,237 1,637,766
1 January
Fund balances at
31 December
468,304 640,237
**----- End of picture text -----**
All income and expenditure has arisen from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. All income and expenditure relates to unrestricted funds. The notes on pages 71 to 75 form part of these financial statements. 68 THE PA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES ## Balance Sheet as at 31 December 2024 **----- Start of picture text -----**
2024 2023
Notes £ £ £ £
Current assets:
Cash at bank 478,804 655,687
and in hand
478,804 655,687
Creditors:
amounts falling
due within one year P (10,500) (15,450)
Net current assets 468,304 640,237
Total assets less
current liabilities 468,304 640,237
Funds
Unrestricted funds
468,304 640,237
468,304 640,237
**----- End of picture text -----**
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies. The accounts were approved by the Board of Trustees on Friday 30 May 2025 2025 and signed on its behalf by: ## Anita Chandraker, Chair of The PA Foundation's Board of Trustees, Friday 30 May 2025. The notes on pages 71 to 75 form part of these financial statements. 69 THE PA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES Statement of cash flows for the year ended 31 December 2024 **----- Start of picture text -----**
Notes 2024 2023
£ £
Cash inflows from operating
activities:
Cash generated from operations R (176,883) (1,101,259)
Net increase in cash and cash (176,883) (1,101,259)
equivalents
Cash and cash equivalents at the
beginning of the year 655,687 1,756,946
Cash and cash equivalents at the 478,804 655,687
end of the year
Cash and cash equivalents
comprise:
Cash at bank and in hand 478,804 655,687
**----- End of picture text -----**
The notes on pages 71 to 75 form part of these financial statements. 70 THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ## 3.3 Notes to the financial statements for the financial year ended 31 December 2024 ## Accounting policies ## **A** Company formation The PA Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 Bressenden Place, London, SW1E 5DN. ## **B** Accounting convention These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”). “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charity is a Public Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. 71 THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ## **C** Going concern The Trustees consider that there are no material uncertainties over the Foundations ability to continue as a going concern due to its significant cash balances and reserves. ## **D** Charitable funds Unrestricted funds are available for use at the discretion of the directors in furtherance of the charitable objectives unless the funds have been designated for other purposes. ## **E** Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. ## **F** Expenditure All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probably that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under headings that aggregate all costs relating to the category, as follows: - Cost of raising funds are subscription fees payable for the provision of the JustGiving online fundraising site. - Expenditure on charitable activities includes the costs of promotion of education and the skills needed in employment, instruction or training in professions, vocations, industries, crafts, or trades and other activities to further the purposes of the charity and their support costs. - Grants payable in furtherance of the charity’s objects are recognised in the year in which the grant is formally approved by the Charity and has been communicated to the recipient, expect to the extent that it is subject to conditions that enable the charity to revoke any award. - Support costs represent other costs and governance costs, which are recognised on an accruals basis. Governance costs represent those costs associated with the governance arrangements relating to the general running of the charity. Such costs include external audit fees, related trustee costs and compliance with statutory requirements. ## **G** Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. ## **H** Financial instruments The Charity has elected to apply the provisions of Section 11 Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issued’ of FRS 102 to all of its financial instruments. Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument. ## Basic fnancial assets Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs. ## Basic fnancial liabilities Basic financial liabilities, including other payables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, in which case it is measured at the present value of future cashflows. Derecognition of fnancial liabilities Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. 72 THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ## **I** Foreign exchange Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net incoming reserves for the period. ## **J** Taxation The charity is exempt from tax on income and gains to the extent that these are applied to its charitable objects. ## **K** Critical accounting estimates and judgements In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only the period, or in the period of revision and future periods where the revision affects both current and future periods. ## **L** Donations and legacies **----- Start of picture text -----**
2024 2023
£ £
Donations from institutions 2,100,000 1,150,000
Donations from individuals 20,026 27,482
2,120,026 1,177,482
**----- End of picture text -----**
## **M** Cost of raising funds **----- Start of picture text -----**
2024 2023
£ £
Secretariat 14,100 6,000
Subscription fees 331 216
14,431 6,216
**----- End of picture text -----**
73 THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ## **N** Charitable activities **----- Start of picture text -----**
Support Grant Total 2024 Total 2023
costs
£ £ £ £
Grants paid and - 2,092,000 2,092,000 2,066,000
committed
Other costs 185,528 - 185,528 102,795
185,528 2,092,000 2,277,528 2,168,795
Grants 2024 2023
£ £
Grants to Institutions – 43 (2023: 34) 2,092,000 2,066,000
2,092,000 2,066,000
Other costs 2024 2023
£ £
Professional fees 2,975 5,255
Bank charges 707 680
Foreign exchange (169) (12)
(gain)/loss
Secretariat 77,550 33,000
Other costs 29,415 1,224
Governance costs:
• Travel expenses 1,925 3,248
• Secretariat 49,350 21,000
• Auditors remuneration 10,500 10,500
• Accountancy 13,275 27,900
185,528 102,795
**----- End of picture text -----**
## **O** Trustees The Trustees, being the key management personnel, received no remuneration and three were reimbursed £1,758 (2023: £3,935) for travel and related expenses during the year. There were no employees employed during the year (2023: Nil). ## **P** Creditors: amounts falling due within one year **----- Start of picture text -----**
2024 2023
£ £
Grants payable - -
(note Q)
Accruals 10,500 15,540
10,500 15,540
**----- End of picture text -----**
74 THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ## **P** Grants Payable **----- Start of picture text -----**
2024 2023
£ £
At 1 January - 50,000
Grants 2,092,000 2,066,000
approved
(note N)
Grants Paid (2,092,000) (2,116,000)
At 31 December - -
**----- End of picture text -----**
## Grants to institutions **----- Start of picture text -----**
Grants to institutions: 2024 2023
£ £
The Economist Educational Foundation (UK) 157,000 112,000
Stemette Futures (UK) 120,000 215,000
Helena Kennedy Foundation (UK) 100,000 165,000
Raspberry Pi Foundation (UK) 100,000 100,000
MYBNK (UK) 85,000 150,000
Sammen om en jobb 85,000 100,000
The Poppy Factory (UK) 85,000 100,000
Nema Problema (Norway) 85,000 100,000
ADA, The National College for Digital Skills (UK) 85,000 85,000
The Foundation for Social Entrepreneurs (UK) 80,000 76,000
The Social Mobility Foundation (UK) 75,000 75,000
UAF (Netherlands) 60,000 65,000
Making the Leap (UK) 60,000 60,500
Upwardly Global (US) 60,000 60,000
Point Foundation (US) 60,000 -
StandOut (US) 60,000 -
Loekkefonden (Denmark) 50,000 50,000
Coding Pirates (Denmark) 50,000 50,000
Learn for Life (Denmark) 50,000 100,000
Big Friends (Netherlands) 50,000 40,000
Bytes (UK) 50,000 27,500
Other (22 institutions) 485,000 335,000
2,092,000 2,066,000
**----- End of picture text -----**
75 THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ## **R** Cash generated from operations **----- Start of picture text -----**
2024 2023
£ £
Net income for (171,933) (997,529)
the period:
Adjustments for:
Movements in
working capital:
Decrease in creditors (4,950) (103,730)
Cash generated (176,883) (1,101,259)
from operations
**----- End of picture text -----**
## **S** Related Party Transactions During the year, PA Holdings Limited, the controlling party provided management and back office administrative services to support the dayto-day operations of the charity totalling £141,000 (2023: £60,000). ## **T** Controlling entity The PA Foundation is a wholly owned subsidiary undertaking of PA Holdings Limited (registration number 02235016), part of the PA Group of companies, or ‘PA’ as referred throughout. Jacobs Engineering Group Inc. (“Jacobs”), a USbased company is the ultimate controlling party. 76 Supporting migrants and refugees to thrive, not just survive. Download report The PA Foundation's impact reporting series Sharing the experiences of those we are reaching through our funding is important, not least to highlight the resilience and determination many of our participants show us every day. In 2024, we began a new impact reporting series, which provides first-hand testimonials and evidence of the impact we are having across the UK, US, Nordics, and Netherlands. Supporting a positive, post-prison future. Download report Download our reports to find out more about the work of The PA Foundation Equipping young people for a fair chance at a bright future. Download report 77 qlfLI ## The PA Foundation 10 Bressenden Place London SW1E 5DN United Kingdom enquiries@pafoundation.org paconsulting.com/ the-pa-foundation The PA Foundation is registered with Companies House in England and Wales (company number 13435338) and the Charity Commission for England and Wales (charity registration number 1196581). - © The PA Foundation 2025. All rights reserved. Produced by Design Studio at PA - 5-458050 PA Foundation May 2025. Inspiring the innovators and leaders of tomorrow