2025-12-31-accounts

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PA Foundation Annual Report and Accounts Twenty twenty-h've

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 2025

1.0 INTRODUCTION 2.0 TRUSTEES’ REPORT 3.0 INDEPENDENT AUDITORS’ REPORT 1.1 A note from our Chair 2 2.1 Introduction 6 3.1 Overview of 68 2.2 Strategy overview 7 key matters 3.2 Statement of 72 2.3 Impact 10 financial activities 2.4 PA people in action 55 3.3 Balance Sheet 73 2.5 Additional reporting 58 3.4 Statement of 74 cash flows 3.5 Notes to the 75 financial statements

THE PA FOUNDATION A NOTE FROM OUR CHAIR

1.1

A note from our Chair

In 2025, we took time to look back over our first four years: four years of investment, partnership and real, on the ground activity. What stood out most was not just the scale of what has been achieved, but the people behind it: those whose lives have been changed through our support, and the colleagues whose expertise and energy have helped make that change possible. The review was not about patting ourselves on the back; it was about understanding where we have genuinely added value and where we need to push harder. And while the stories and data were inspiring, they also underscored something important: the need that first brought us together remains as urgent as ever.

Every day, we meet people who lack even the most basic digital skills, and many who are entirely offline. This limits their ability to participate fully in modern life. Meanwhile, employers continue to face fast growing shortages in technical skills, with STEM roles projected to grow more than three times faster than other jobs. These pressures remind us why our mission matters and why our activity this year has been so important.

Over the past 12 months, we have sharpened our focus on the areas where we can create the greatest change, becoming even more intentional about how we deliver impact across our communities. STEM has remained a central pillar of our work, and we have strengthened our commitment to supporting women and girls – now representing 60 percent of our participants across our portfolio

and 57 percent of our funding. We have also fine tuned our portfolio to strike the right balance between breadth and depth, ensuring we support

organisations with the potential to reach many people while still investing deeply where our impact can be truly transformative. This is reflected in some of the highlights from 2025.

Highlights from 2025

One of my personal highlights was the industry challenge we ran with Ada, the National College for Digital Skills. As a judge, it was inspiring to see first hand the talent, ambition, and hard work of more than 100 students as they tackled a real-life medtech brief. The project takes months of planning and a small army of volunteers, and this year around 30 PA people supported the intense three day sprint – running workshops, mentoring teams, and helping students turn their ideas into working concepts. Watching the teams pitch

their solutions was a powerful reminder of what happens when young people are given the space, skills, and encouragement to push their creativity and technical thinking further.

I was pleased to see our work with The Economist Educational Foundation expand to the US. We took one of our Topical Talk resources, funded by The PA Foundation, to New York, where we explored the fast-growing influence of deepfakes on society. With guidance from PA volunteers, students examined how AI generated media is shaping politics, culture, and education. The session helped them build the critical thinking skills needed to navigate an increasingly complex digital world.

I was also delighted to see more of our charity partners getting involved in PA’s Raspberry Pi Competition in the UK and the Netherlands. This annual celebration of STEM education, challenges school teams to design and code solutions to real world problems using a Raspberry Pi microcomputer. Watching students bring their ideas to

THE PA FOUNDATION A NOTE FROM OUR CHAIR

continued investment will be

life – combining creativity, technical skills, and a genuine desire to make a positive impact – was a reminder of why this competition matters.

PA’s win in the Tech for Social Mobility category at the UK Social Mobility Awards 2025, a national celebration of organisations driving meaningful, long term progress on social mobility, has further strengthened The Foundation’s reputation as a force for good.

Our partnership with PA

Our success this year can also be attributed to the deepening partnership between The PA Foundation and PA. We have built an even stronger sense of unity and shared purpose, and we are hugely grateful for the commitment PA

continues to show as our corporate partner. This partnership has allowed us to bring the very best of PA’s skills to our charity partners – tackling complex challenges with creativity and rigour, and amplifying our impact far beyond the grants we provide.

In 2025, a third of PA people

volunteered their time, passion, and expertise, with contributions ranging from delivering global live lessons with The Economist Education Foundation to running CV workshops and mock interviews with Making the Leap. During Global Volunteer Week alone, 170 volunteers contributed 1,400 hours across 13 of our charity partners, with many describing the Foundation as one of the most meaningful parts of working at PA. We have also seen PA people recognised externally – as mentors, pro bono consultants, and impact leaders – reflecting the quality of their contribution.

Through our programmes, young people from disadvantaged backgrounds have gained not only skills and confidence but also access to meaningful employment pathways at PA. We are proud that a number of participants have since gone on to secure roles within the organisation. Education alone is not enough: it is these connections, relationships, and hands on experiences that open doors, and this partnership is making that possible.

The road ahead

Looking forward, we are committed to sharing our impact more widely, celebrating the work of our partners, demonstrating the success of our collaboration with PA, and showing others what can be achieved when purpose and expertise come together.

We have already distributed £7.1 million to date and we intend to build on this momentum. The need in our communities is not diminishing, and

essential if we are to meet it. Every donation and contribution directly supports high quality initiatives that change lives.

It is clear that when we align our investment, our partners, and the expertise of our volunteers, the impact is not only measurable, but also meaningful. With that in mind, the following report highlights the progress and results that have defined 2025, and the foundations they lay for the years to come.

It remains a privilege to lead this work, and I am excited for all that lies ahead as we continue to extend opportunity where it is needed most.

Anita Chandraker

Chair of The PA Foundation Board of Trustees

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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 2025.

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.

THE PA FOUNDATION STRATEGY OVERVIEW

2.2

Strategy overview

Our model combines targeted grantmaking with skilled corporate volunteering. We support charities delivering high-quality interventions while offering the skills, expertise, and passion of PA’s global workforce to make a difference through mentoring, STEM skills, and pro bono work.

Key components of our model include:

Strategic charity partnerships with a strong track record and reputation
Evidence-based programmes to scale what truly works
Skilled employee volunteering that amplifies our financial investment
Long-term support that consolidates our impact

To deliver our mission, we invest in STEM education and career pathways that build critical capabilities, such as innovative thinking, creative problem solving, and strategic decision making. In doing so, we support interventions with strong evidence of effectiveness: STEM education, personalised mentoring, community support networks, and programmes that build confidence and capability in young people (around 80 percent of our

reach) and vulnerable adults (around 20 percent of our reach).

The interventions within our portfolio focus on both scale and depth of impact:

Scale comes from programmes that reach large audiences through open resources or broad platforms. These help us extend opportunity across different regions, communities, and age groups, ensuring we engage people who might otherwise be overlooked.
Depth comes from long-term, intensive support such as mentoring, high-quality training, and hands-on learning. These investments do more than spark interest; they build the confidence, skills, and resilience that people need to succeed over time.

Together, this balanced approach allows us to broaden access while also developing future leaders with the capabilities employers and industries value most.

Seeking out innovation that delivers clear, added value.

THE PA FOUNDATION STRATEGY OVERVIEW

The PA Foundation’s logical framework

Target reach: 9,000 people per year

----- Start of picture text -----
Who we support How we support Outcomes Impact
• Disadvantaged young peple • School group insight days • Inspired to pursue STEM
(under 20 years of age) education and careers
• Out of school/non-
mainstream interventions • Improved STEM education
and life skills
• Bursaries
• Pursuing a STEM related
higher education course
Women and girls • Equitable access to education,
60:40 skills and employment
• Disadvantaged adults • Training workshops • Improved skills and knowledge opportunities, particularly
and mentoring to succeed in work in STEM
• Veterans
• Migrants and Refugees
• Prisoners/prison leavers
• Low-income
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The PA Foundation’s logical framework sets out how we turn our mission into demonstrable impact, linking who we support with how we deliver programmes and the outcomes we achieve. By focusing on disadvantaged young people and adults, and combining interventions such as school engagement, training, mentoring and bursaries, we aimed to reach 9,000 participants while building the skills, confidence, and pathways needed for long-term success in STEM education and employment.

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THE PA FOUNDATION IMPACT

IMPACT Introduction

Our impact continues to grow yearon-year, and 2025 gave us real cause for celebration. This was a year in which the scale of our ambition, the strength of our partnerships, and the clarity of our purpose all came together to deliver meaningful and measurable change for young people. It also marked a moment of reflection – an opportunity to share the progress we are making, demonstrate the value of our investment, and highlight the communities whose futures are brighter because of our work

THE PA FOUNDATION IMPACT

IMPACT

2025 in numbers

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£1.6m
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>£1.6m

Funding distributed across the UK, US, Nordics, and Netherlands.

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9,019
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9,019

Participants being reached directly.

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22,250
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22,250

Participants being reached indirectly.

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1,240
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1,240

Teachers and educators being supported directly.

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26
26
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Charitable organisations funded across the UK, US, Nordics, and The Netherlands.

THE PA FOUNDATION IMPACT

IMPACT

About our participants

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100%
87% Disadvantaged young people
(under 20 years of age)
60% women and girls
50%
13% Disadvantaged adults
(including veterans 2%,
migrants/refugees 9%, those with
experience of the prison system 2%)
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THE PA FOUNDATION IMPACT

IMPACT

Celebrating four years of impact

By the end of 2025, The PA Foundation had been operational for four years, and this milestone gave us a powerful moment to celebrate the impact we have delivered with our charity partners. Since launching, we have supported more than 33,000 people – helping young people and those facing disadvantage to build confidence, develop new skills, and access opportunities that might otherwise have been out of reach. Our mission has always been clear: to inspire and equip the innovators and leaders of tomorrow, and to ensure that talent and potential are not limited by circumstance.

By investing in STEM, we are not only helping people gain valuable knowledge and skills; we are opening doors to high growth careers, economic mobility, and the chance to shape the industries of the future. This work is also about equity – ensuring that those historically excluded from STEM have the support, encouragement and access they need to thrive.

Over the past four years, we have supported organisations and programmes that reach people in different ways, from large scale digital resources to intensive, hands on support. Together, these efforts have created a strong, diverse, and meaningful impact. One we are proud to build on in the years ahead.

A central part of this mission is our commitment to STEM education and careers. STEM is the foundation on which future solutions will be built, and it remains one of the most powerful pathways to opportunity.

Overview of our impact to date

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3,600 18
Hours of workshops High-quality
delivered to improve and publicly
education, skills, available STEM
and employment resources
915 outcomes 4,558
Hours of quality Teachers
STEM education and facilitators
delivered supported to promote
STEM education
£415,750 368
Distributed directly Students awarded formal
to those pursuing STEM qualifications
a STEM course
through higher
education 10,251 13
Hours of one-to- Mentoring
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coaching delivered delivered annually
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THE PA FOUNDATION IMPACT

IMPACT

Investing in STEM skills and education

STEM education sits at the heart of our mission because it opens doors to opportunity and breaks down long-standing barriers to employment. Working through our charity partners, we have expanded access to STEM learning for people who are underrepresented in these fields.

We have seen the difference this makes. Participants are not only learning technical skills, they are also joining supportive communities, building networks with employers, and discovering new possibilities for their future. Safe, inclusive spaces help individuals grow in confidence, manage their wellbeing, and take meaningful steps towards work or further study.

Our programmes take many forms: coding bootcamps, mentoring schemes, hands-on workshops, and immersive experiences that bring technology to life. These initiatives are designed for all ages and starting points, ensuring that even those with no prior experience can participate and thrive.

Career coaches and mentors provide tailored guidance, helping people navigate challenges and move forward with purpose.

915 Hours of quality STEM education delivered.

3,600 Hours of workshops delivered to improve education, skills, and employment outcome.

It’s easy to stay in a dark place. Focusing on something positive, something that you can use in the future, empowers you and gives you confidence – Code4000 has definitely done that for me. I believe in myself, I am much more confident, and I look forward to the future now.”

Anna, supported through the Code4000 programme

THE PA FOUNDATION IMPACT

IMPACT

Investing in teaching and learning

From space exploration to artificial intelligence, students are exposed to expert led content that brings complex ideas to life.

High quality STEM teaching materials can transform a classroom, giving teachers the tools they need to inspire curiosity, build confidence, and spark long term interest in STEM. Through our partnerships, we are helping to bring these kinds of resources into schools around the world – supporting educators to deliver engaging and up to date STEM lessons, even when they do not have a specialist background.

We have seen the difference this makes for teachers. With access to well designed materials, they can deliver more engaging lessons that boost students’ understanding and enthusiasm. This enthusiasm translates into higher achievement, greater confidence, and a growing interest in STEM pathways. When teachers are equipped to teach STEM well, they inspire more young people to see themselves as future innovators, researchers, and problem solvers.

All our resources are developed with educators, scientists, and subject experts, and they are completely free and publicly available. This levels the playing field for schools that may lack funding for advanced materials or training, ensuring that every student, regardless of background, can access high quality STEM learning.

18 High-quality and publicly available STEM resources produced.

4,558 Teachers and facilitators supported to promote STEM education globally.

For the teachers, it is extremely motivating to see students with fire in their bellies, talking about issues they really care about, and offering authentic opinions. For some students, it can be the first time they have volunteered an answer or contributed to a group discussion.”

Beth, a secondary school teacher using The Economist Education Foundation resources

THE PA FOUNDATION IMPACT

IMPACT

Awarding formal accreditation and acknowledging success

STEM qualifications and

But the impact goes far beyond the qualification itself. Learning in a supportive environment builds confidence, pride, and a sense of possibility. For many, gaining an accreditation is the first time they have had their skills formally recognised.

accreditations do more than validate technical skills – they open doors. For people facing disadvantage, they provide a recognised pathway into employment, further education and entrepreneurship, helping talent that is sometimes overlooked.

That recognition can be

Through our partners, we are making high quality STEM accreditations accessible to those who need them most. These programmes give participants the chance to gain industry recognised credentials that clearly signal their capabilities to employers and align with real career opportunities in areas such as engineering, IT, and digital technology.

transformative, strengthening self belief, fuelling ambition, and helping people take control of their next steps.

368 Students awarded formal STEM qualifications

I have gained a number of qualifications during my time with Bytes. I have taken part in the Bytes Digital Champions Programme and have qualifications in youth work. I have completed the first two OCN levels in Youth Work Practice and I am currently studying for Level 3. I am aiming to go to university to do my Level 4 to become a fully qualified youth worker.”

Maria, a participant in the Bytes project who has become a youth group leader and Bytes employee

THE PA FOUNDATION IMPACT

IMPACT

Providing financial stability and support

Bursaries are more than financial support. They open doors that talent alone cannot always unlock. For students from low income backgrounds, the cost of books, travel, or essential equipment can be the barrier that stops them pursuing higher education. Through our partners, we fund bursaries that remove these pressures and give students the freedom to focus on their studies and their future.

This combination helps students stay enrolled, stay motivated and stay on track, especially when financial stress might otherwise force them to step away.

Bursaries send a powerful message: we believe in you. For students who may have felt excluded from higher education or underrepresented in STEM, that belief can be transformative. It builds confidence, strengthens ambition, and creates a sense of belonging in spaces where they may not have seen themselves before.

Our approach is simple: trust students to know what they need. The bursaries come without restrictions or debt, and are paired with mentoring and guidance for those pursuing STEM related courses.

£ 415,750 Distributed directly to those pursuing a STEM course through higher education.

The bursary changed everything. With that support, I was able to buy a stethoscope, medical textbooks, scrubs, and a lab coat. I could finally afford the travel costs for clinical placements. But more than that, the bursary was a message: that my dreams were valid, and that others believed in me.”

Adnan, a young refugee supported by Helena Kennedy Foundation

THE PA FOUNDATION IMPACT

IMPACT

Building confidence and professional networks

Mentoring and exposure to role

These relationships provide

models can change the trajectory of a young person’s life. For those facing disadvantage, limited networks and a lack of visibility often make it hard to imagine a future in professional or STEM careers. Working with our partners, we are helping to close that gap by connecting young people with mentors who can guide, encourage and open doors.

something many young people have never had before: someone in their corner who understands the world they want to enter and can help them take the next step. For newly arrived migrants and refugees, this support can be especially powerful, offering guidance on credential recognition, retraining and how to access the labour market.

Our mentoring programmes offer long term, one to one support that helps individuals set goals, navigate career choices and build confidence.

Mentoring is more than career guidance – it is about being seen, supported, and believed in. When young people gain access to networks and role models, they begin to imagine new possibilities for themselves. And that shift can be transformative, shaping not just careers but futures.

10,251 Hours of one-to-one mentoring and coaching delivered.

13 Mentoring programmes supported annually.

The programme gave me tools: a mentor, the mentoring platform, the other people who could keep me steady, and the events. My takeaway is that the mentor is there to guide me. It’s up to me to make the most of these opportunities, but he is there when I need him.”

Kishan, a migrant supported by Belong in Sweden

Investing in the leaders and innovators of tomorrow.

Download report

The PA Foundation's impact reporting series

Equipping young people for a fair chance at a bright future.

Download report

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.

Go to our website www.paconsulting.com/ the-pa-foundation to read the following impact reports and learn more about the impact of The PA Foundation.

Supporting a positive, post-prison future.

Download report

Supporting migrants and refugees to thrive, not just survive.

Download report

THE PA FOUNDATION IMPACT

Recognition of our work in 2025

We were delighted to receive external recognition in 2025 for our partnership with PA Consulting through the following awards and nominations:

Awards won

Tech for Social Mobility Programme of the Year UK Social Mobility Awards 2025
CSR Leader of the Year Highly Commended (Jack McMahon, Head of The PA Foundation) Better Society Awards 2025

Finalists

Pre-Recruitment Programme of the Year UK Social Mobility Awards 2025
Mentor of the Year (James Anscombe-Bell) UK Social Mobility Awards 2025
Corporate Volunteer Programme of the Year Better Society Awards 2025
Philanthropy Award Better Society Awards 2025

This year has shown that when people are given the right support, skills and opportunities, they can rewrite what is possible for their futures. The achievements across our programmes reflect the commitment of our partners and the determination of those we work with. Our impact is measured not only in scale but in the confidence, progress and ambition we see every day. Together we are creating pathways that allow talent to flourish and helping more individuals shape the future on their own terms.”

Jack McMahon Head of The PA Foundation

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THE PA FOUNDATION IMPACT

Our restricted funding partners

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.

We are supporting 95 young people to build confidence, skills, and clear pathways into the world of work. This includes mentoring and employability masterclasses and access to workplace visits. Ten students are also offered paid summer work experience placements at PA that give real insight into the world of work and open doors to diverse career routes.

PA people are volunteering as one-toone mentors, masterclass facilitators, and workplace hosts, offering intensive guidance to ten students on the Career Ready programme.

THE PA FOUNDATION IMPACT

Catch22 / Code4000

Catch22 designs and delivers public services that build resilience and aspiration in people and communities. Its Code4000 programme delivers computer programming training/coding to people with experience of the prison system.

Our impact together

We are supporting 50 women with experience of the criminal justice system to build coding skills through community based Code4000 courses that strengthen their employment prospects and reduce reoffending.

We are helping to establish strong referral pathways and personalised career support, working with partners across prisons, probation, and employability services to ensure women receive the right support throughout their journey. We are enabling the programme’s expansion across England and Wales, increasing access for more women.

PA people are providing specialist coding support, high impact employability sessions, and focused one to one guidance, while mentoring graduates to accelerate their technical and career development.

THE PA FOUNDATION IMPACT

The Economist Educational Foundation

PA people are contributing to the summer camp experience and taking part in the ongoing mentoring programme, offering homework support, encouragement, and practical workshops during the group sessions.

THE PA FOUNDATION IMPACT

Point Foundation

Point Foundation supports the educational aspirations of LGBTQ+ and ally students to become impactful leaders in their lives, careers, and communities.

Point seeks to build community and springboard a new generation of LGBTQ+ and ally leaders toward success. Point does this through scholarship financing, leadership development, mentorship, and community support.

Our impact together

We are supporting LGBTQ+ and ally students in the US to pursue their educational ambitions and become confident, impactful leaders in their lives, careers and communities. We are helping fund 25 Point Scholars through Community College and Access Scholarships, based on financial need, academic achievement and commitment to the LGBTQ+ community. This includes financial support, leadership training, and mentoring

PA people are contributing as mentors and role models, offering guidance, encouragement, and professional insight to Point Scholars as they navigate their education and early careers.

THE PA FOUNDATION IMPACT

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THE PA FOUNDATION IMPACT

Other unrestricted funding

In addition to our restricted funding partners, we have provided unrestricted funds to GoodWork in the UK.

THE PA FOUNDATION IMPACT

GoodWork

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 delivering four programmes that will enable 100 young people from low-income backgrounds to gain the skills, confidence and support they need to step into professional work. The young people taking part are 18 to 25-year-olds with talent and ambition who have not had access to traditional routes into professional careers. We are ensuring that alumni continue receiving lighter-touch help once they complete their six-month programme. We are also helping to maintain the Community Hub where young people can learn, prepare for interviews and focus on their job search.

PA people are mentoring young people and running practical skills sessions that help them feel more prepared and confident about their next steps.

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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.

THE PA FOUNDATION PA PEOPLE IN ACTION

Ned Davy

PA commercial expert and volunteer for Ada, the National College for Digital Skills

“Having taken the vocational route myself, I’m familiar with both the challenges and practical experience it involves. Coaching a first-year student from Ada, the National College for Digital Skills as they work toward a BTEC National Diploma in Computing felt meaningful as it’s a path I’ve been down myself.

Volunteering in this way also gave me a better understanding of what motivates people. While some are focused on academic achievement, others are interested in creativity, practical skills, financial independence, or the opportunity to build something of their own. These motivations are deeply personal and often shaped by cultural, social, or family influences. This reaffirmed to me that there is no single path to success, and part of me wishes I had received this kind of support at his age.

Throughout our coaching sessions, my focus was on helping my student to focus on ‘what comes next?’; a topic that can often feel overwhelming at the start of a career journey. By providing an open space for him to articulate his ideas, interests, and motivators, I was able to support him in shaping a clearer picture of his future aspirations. Our conversations touched on a range of pathways, including extended learning through university degrees, degree apprenticeships, apprenticeships, and potential roles within the technology sector. It was rewarding to see his confidence grow as he connected his strengths to tangible opportunities and even developed his first CV.

Coaching has reminded me of the importance of listening, nurturing curiosity, and meeting individuals where they are. It has been genuinely inspiring to support someone at the very start of their professional journey, and I’m grateful to be part of a mission that empowers young people to discover their direction and gain confidence one conversation at a time.”

Nuala Carland

PA digital and data expert and volunteer for Orchardville

“Supporting others to realise their potential has always been important to me, and that’s what drew me to Orchardville, a charity dedicated to empowering people with learning disability and autism to live their best lives.

With this in mind, I was delighted to have the opportunity to organise and deliver a coding workshop for Orchardville’s service users, a first step into the world of digital skills for many participants. The session was designed to be engaging and accessible, introducing core concepts such as HTML elements, CSS, and how web services function. The workshop also included a hands-on activity where participants created a binary keyring, using coloured beads to represent the binary code for their initials - something they could take home as a reminder of the beginning of their coding journey.

Being part of this workshop was incredibly rewarding. As a former STEM ambassador, I am passionate about making technology approachable and fun, and it was inspiring to see participants’ curiosity and confidence grow throughout the session. The positive feedback from service users, and their enthusiasm for continuing to build their digital skills, was a powerful reminder of the impact that accessible STEM education can have.

Supporting Orchardville’s mission has reinforced for me the value of nurturing confidence and unlocking potential. I am proud to play even a small part in helping others discover what they can achieve.”

THE PA FOUNDATION PA PEOPLE IN ACTION

Mohammed Issa

PA operating model and transformation expert and volunteer for Belong

“Supporting newcomers to integrate into Swedish society by helping them find meaningful employment that matches their skills and experience is incredibly important to me and is why I got involved with Belong (formerly Nema Problema), a non profit organisation focused on building bridges between newly arrived and established Swedes.

As someone with experience navigating the Swedish labour market, I became a mentor for an internationally born jobseeker. Over a seven month period, I met with my mentee monthly to support them in areas such as career planning, networking, and job searching. In addition to these one on one sessions, participants also joined group workshops focused on practical tools like CV writing, interview preparation, and understanding Swedish workplace culture.

Participating in Belong’s mentorship programme was a deeply rewarding experience. I gained a much greater understanding of the challenges newcomers face when entering the Swedish labour market, including structural barriers, cultural differences, and the emotional aspects of starting over in a new country.

Having mentored twice, I’ve helped my mentees develop their CVs, prepare for interviews, practise Swedish, and navigate the ups and downs of their job search journeys. Beyond the practical support, we formed a meaningful connection, and I am proud to have contributed to their confidence, cultural understanding, and progress towards their career goals.”

David Trieu

PA architecture engineering & devops expert and volunteer for GoodWork

“I’m passionate about helping remove barriers in the job market and supporting young people who may not have access to the same resources or networks as others which is one of the reasons I wanted to volunteer with GoodWork. Their mission to empower young people with the confidence, skills, and networks needed to begin their careers really resonated with me.

After completing GoodWork’s training programme, I became a Volunteer Assessor at their assessment centre. In this role, I observed and assessed candidates during various activities designed to showcase their strengths, potential, and employability skills. I also helped guide them through the process, offered supportive feedback, and contributed to creating a positive and encouraging environment that helped candidates feel at ease while demonstrating their abilities.

The experience gave me a much deeper appreciation of the challenges many young people face when entering the workforce and strengthened my own skills in communication, active listening, and constructive feedback. I made a meaningful impact by helping candidates recognise their strengths, build confidence, and feel more prepared for future opportunities. It was rewarding to know that my support contributed, even in a small way, to their personal and professional development.”

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 two-year term. The number of trustees shall not be less than five but shall not exceed eight. At the end of 2025, 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 2025.

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.

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 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
dependency from million of funding to the Charity.
the founding • Continued fundraising engagement with PA employees.
corporate donors.
• Diversification of funding from other
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 recipients
participants taking
part in activities carried out which is renewed on an annual basis.
funded by the Charity. • 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.
----- End of picture text -----

The trustees consider that there is minimal credit risk and some exposure to foreign currency risk given its operations abroad.

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 non-profits) 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. It is not currently accepting any ad-hoc unsolicited proposals.

C Reference and administrative details

Trustees

Anita Chandraker (Chair)

Sheridan Ash

Neil Clayton

Kully Janjuah

Gemma Rogers

Jo Scarlett

Martin Tillisch

Management Team (Secretariat)

Jack McMahon Head of The PA Foundation

Fiona Scott Community Engagement Lead

Jasia Maczkiewicz

Finance lead

Megan Stanley Legal

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

Wedlake Bell LLP 71 Queen Victoria Street London EC4V 4AY United Kingdom

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 2025, the Charity recognised income of £2,010,124. 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 2025 was £1,901,789 and 89 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.

THE PA FOUNDATION ADDITIONAL REPORTING

Reserves policy

As of 31 December 2025 the Charity has £567,639 of total / free reserves, all of which are unrestricted. The Charity's reserves policy is reviewed annually and no amendments were proposed in 2025. 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 2025, no investments were made.

provide access to emergency funding for grants beyond the current year’s budget.

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 2026, the Charity aims to:

1 Secure long-term corporate support and funding by:
Engaging corporate partners and senior stakeholders to secure additional funding that sustains and grows the Foundation beyond current commitments
Diversifying income streams to build a more resilient financial model and reduce reliance on single sources.
2 Deepen focus on STEM and social mobility across the portfolio by:
Embedding STEM and social mobility as core priorities across programmes and partnerships
Prioritising initiatives that improve access to education, skills and career opportunities for young people from disadvantaged backgrounds.
3 Expand volunteering and fundraising opportunities by:
Increasing opportunities for PA people and stakeholders to engage in meaningful, skillsbased volunteering aligned to partner needs
Support participation in fundraising activities by providing simple, accessible routes for volunteers to raise funds.

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)

23 JUNE 2026

make judgements and estimates that are reasonable and prudent

THE PA FOUNDATION INDEPENDENT AUDITORS REPORT

3.0 Independent auditors’ report to the members of The PA Foundation

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 2025 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 2025 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.

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.

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.

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

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;

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

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:

THE PA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES

3.2

Statement of financial activities for the financial year ended 31 December 2025

----- Start of picture text -----
Year ended 31 Year ended 31
December 2025 December 2024
Notes £ £
Income
Donations
and legacies L 2,010,124 2,120,026
Total income 2,010,124 2,120,026
Expenditure
Cost of raising funds M 15,421 14,431
Charitable activities: N 1,886,368 2,277,528
Promotion of
education and skills
Total expenditure 1,901,789 2,291,959
Net income 108,335 (171,933)
Fund balances at 468,304 640,237
1 January
Fund balances at
31 December
567,639 468,304
----- 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 75 to 80 form part of these financial statements.

THE PA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES

3.3

Balance Sheet as at 31 December 2025

----- Start of picture text -----
2025 2024
Notes £ £ £ £
Current assets:
Cash at bank 587,829 478,804
and in hand
587,829 478,804
Creditors:
amounts falling
due within one year P (11,190) (10,500)
Net current assets 576,639 468,304
Total assets less
current liabilities 576,639 468,304
Funds
Unrestricted funds
576,639 468,304
576,639 468,304
----- 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 Tuesday 23 June 2026 and signed on its behalf by:

Anita Chandraker,

Chair of The PA Foundation's Board of Trustees, 23 June 2026.

The notes on pages 75 to 80 form part of these financial statements.

THE PA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES

3.4

Statement of cash flows for the financial year ended 31 December 2025

----- Start of picture text -----
Notes 2025 2024
£ £
Cash inflows from operating
activities:
Cash generated from operations R 109,025 (176,883)
Net increase in cash and cash 109,025 (176,883)
equivalents
Cash and cash equivalents at the
beginning of the year 478,804 655,687
Cash and cash equivalents at the 587,829 478,804
end of the year
Cash and cash equivalents
comprise:
Cash at bank and in hand 587,829 478,804
----- End of picture text -----

The notes on pages 75 to 80 form part of these financial statements.

THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

3.5

Notes to the financial statements for the financial year ended 31 December 2025

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.

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.

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 -----
2025 2024
£ £
Donations from institutions 2,000,000 2,100,000
Donations from individuals 10,124 20,026
2,010,124 2,120,026
----- End of picture text -----

M Cost of raising funds

----- Start of picture text -----
2025 2024
£ £
Secretariat 14,100 14,100
Subscription fees 1,321 331
15,421 14,431
----- End of picture text -----

THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

N Charitable activities

----- Start of picture text -----
Support Grant Total 2025 Total 2024
costs
£ £ £ £
Grants paid and - 1,689,000 1,689,000 2,092,000
committed
Other costs 197,368 - 196,368 185,528
197,368 1,689,000 1,886,368 2,277,528
Grants 2025 2024
£ £
Grants to Institutions – 26 (2024: 43) 1,689,000 2,092,000
1,689,000 2,092,000
Other costs 2025 2024
£ £
Professional fees 5,148 2,975
Bank charges 638 707
Foreign exchange 406 (169)
(gain)/loss
Secretariat 77,550 77,550
Other costs 25,930 29,415
Governance costs:
• Travel expenses 4,956 1,925
• Secretariat 49,350 49,350
• Auditors remuneration 11,490 10,500
• Accountancy 21,900 13,275
197,368 185,528
----- End of picture text -----

O Trustees

The Trustees, being the key management personnel, received no remuneration and 3 were reimbursed Nil (2024: £1,758) for travel and related expenses during the year.

There were no employees employed during the year (2024: Nil).

P Creditors: amounts falling due within one year

----- Start of picture text -----
2025 2024
£ £
Grants payable - -
(note Q)
Accruals 11,190 10,500
11,190 10,500
----- End of picture text -----

THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

Q Grants Payable

----- Start of picture text -----
2025 2024
£ £
At 1 January - -
Grants 1,689,000 2,092,000
approved
(note N)
Grants Paid (1,689,000) (2,092,000)
At 31 December - -
----- End of picture text -----

Grants to institutions

----- Start of picture text -----
2025 (£) 2024 (£)
Economist Educational Foundation £140,000 £157,000
Raspberry Pi Foundation £100,000 £100,000
Stemmette Futures £100,000 £120,000
Helena Kennedy Foundation £95,000 £100,000
Ada, National College for Digital Skills £85,000 £85,000
Catch22 £80,000 -
Poppy Factory £80,000 £85,000
Money Ready £80,000 £85,000
Nya Kompisbyran / Belong £80,000 £85,000
Sammen om en Jobb £80,000 £85,000
Social Mobility Foundation £75,000 £75,000
Making the Leap £60,000 £60,000
UAF £60,000 £60,000
StandOut £60,000 £60,000
Point Foundation £57,000 £60,000
Upwardly Global £56,000 £60,000
Bytes Project £52,000 £50,000
Tech She Can £50,000 -
Coding Pirates £50,000 £50,000
Big Friends £50,000 £50,000
Loekkefonden £50,000 £50,000
Career Ready £44,000 £40,000
Start Lighthouse £35,000 £35,000
Orchardville £30,000 £30,000
GoodWork £25,000 £20,000
Revolving Doors £15,000 -
Other (19 institutions) - £490,000
£1,689,000 £2,092,000
----- End of picture text -----

THE PA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

R Cash generated from operations

----- Start of picture text -----
2025 2024
£ £
Net income for 108,335 (171,933)
the period:
Adjustments for:
Movements in
working capital:
Decrease in creditors 690 (4,950)
Cash generated 109,025 (176,883)
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 (2024: £141,000).

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.

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).

Produced by Design Studio at PA

5-521050 PA Foundation June 2026.

44 É2

Inspiring the innovators and leaders of tomorrow

MISSION STATEMENT

Contents

A note from our Chair

Highlights from 2025

continued investment will be

Our partnership with PA

In 2025, a third of PA people

The road ahead

2.1

Introduction

Mission

Charitable objects

Public benefit

Strategy overview

The PA Foundation’s logical framework

IMPACT

2025 in numbers

>£1.6m

9,019

22,250

1,240

IMPACT

About our participants

Celebrating four years of impact

Overview of our impact to date

IMPACT

Investing in STEM skills and education

IMPACT

Investing in teaching and learning

IMPACT

Awarding formal accreditation and acknowledging success

STEM qualifications and

That recognition can be

IMPACT

Providing financial stability and support

IMPACT

Building confidence and professional networks

Mentoring and exposure to role

These relationships provide

Download report

The PA Foundation's impact reporting series

Awards won

Finalists

IMPACT

Ada, the National College for Digital Skills

Our impact together

Bytes

Our impact together

Career Ready

Our impact together

Our impact together

The Economist Educational Foundation

The Economist Educational

Our impact together

Our impact together

Making the Leap

Our impact together

Our impact together

Orchardville

Our impact together

Our impact together

Raspberry Pi Foundation

Our impact together

Our impact together

Social Mobility Foundation

Our impact together

Standout

Our impact together

Stemettes

Our impact together

Tech She Can

Our impact together

IMPACT

Belong

Our impact together

Big Friends

Our impact together

Coding Pirates

Our impact together