Charlty reglstrdtlon number 119￿61
Company reglstratlon number 13240146 (England and Wales)
THE 10,000 INTERNS FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE 10,000 INTERNS FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustoès
Mr O O Kolade
Mr D K Konotey-Ahulu
Ms F Buljer
Mr M B8rringlon-Hibbert
Mr S G 8feyer
Mr D A M Hutthison
Ms A Loderick
(Resigned 11 December 20241
(Appointed 6 March 20241
(Appointed 10 December 20241
CEO
Rebecca Ajulu-Bushell
Charlty numb•r
1199061
Company number
13240146
PrlncSpal address
68 Hanbury Street
London
E1 SJL
R•gl¥ter*d offl¢•
68 Hanbury Slreol
London
E1 5JL
Audltor
Ensors
Connexions
159 Princes Street
Ipswi¢h
IP1 10J
8ank?rB
Unty Trust Bank
Planetary Road
Ilenh811
190G
Sollcltor#
Filanthropia Consuhing LiM￿led
Heath House
Alldens Lane
Surrey
GU8 4AP
Bates Vvells
10 Queen Street Pla¢
London
EC4R 18E

THE 10,000 INTERNS FOUNDATION
CONTENTS
Page
Tnjstees. feport
Statement of trustees, responsibilities
Independent audito¢s report
8-10
Statement ol financjal activitie
B8lan¢e sheet
12
Slalemenl ol ¢gsh flows
13
Notes to the financial statements
14-24

THE 10,000 INTERNS FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEAIBER 2024
The trustees present their annual report and finanaal statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounbng poliaes set out in note 1 to the
financial statements and compty wrth the charity's governing document. the Cornpanie5 Act 2006 and 'A¢counting
and Reporting by Ch8rities.' Statement of Recommended Pracb'oe applicable to Char￿eS preparing their aocounls in
accordance with the Finan￿81 Reporting Standard appltsble in the UK and Republic of Iieland IFRS 1021"
leffective 1 January 20191.
The charitable company was incorporated on 2 March 2021. Charitable status was received from the Charity
Commission on 22 May 2022.
Oblectlvg¥ ond octivitl
Al The 10,000 Interns Foundat￿n, we champion underrepresented talent. at scale, through the 10,000 Black
Interns programmes.
The Foundation challenges the underrepre5entation of Black tslent in the workplace.. creating equity of opportunity
through its internship prtsgramme, and equty ol expeiience in the workpla¢e for minoriti$èd ¢andidate$ through its
wraparound support including training and mènlorin9.
In 2025 we ¥wll achieve our milestone target ol uealing 10.(￿0 paid intemship opportunities for underrepresented
talent.
Our objects slate that The 10,000 Inlems Foundab'm exists to promote equality and diversty for Ihe publi¢ benefit
by:
111 the prowsion and lacilitatK*n of intemships for the benefirAaries particularly in industries where such individuals
are underrepresented.. and
121 th8 provision ol 8dufAts'on 8nd Iraining to devèlop the coPaCitiè$, ¢omp8ten¢iès, skills and knowlèdgè of the
beneficiaries in relation to particular industries includin9 Ac¢ountancy, Education, Health Data Science, Healthcare
Management, Insurance, Investmenl Management. Law. Long4erm Savings. Marketing and Advertising and
Recruitment.
The trustees have had due regard lo the guidan￿ issued by the Charty Commission on public benefit. The trustees
will seek advice on the public beneffit requirement. as necessarylappropriate. 85 the ch8rity's irnpact increases.
Th¥ ¢h8rty Corries out 11$ objects by..
Partn•ring wlth fim)8: liaising wrth corporate partners across numerovs sectors Inclvding Banklng and
Finance, Investment Management, Insurance, Accountancy, Law, Healthcare Management, Education.
Technology. Arts and Culture, Recrurtmenl & Exeojbve Search. Engineering, Marketsng and Advertising
and more to secure inlemship pledges
Tralnlng Interns- developing a roster of training sessions lo ensure that all candidate5 are application.
interview. and work ready. Training sessions are often co-delivered wth organisations or individuals that are
directly engaged with the Foundation, and experts in theii field.
Training lor fimis." supporting and enabling participating organisab.ons to successfijlty recruit new talent
through the Foundation. and c￿ate meaningful experiences lor their interns
Growlng our Alumnl communlty.. supporting Black and disabled lalent to succeed in the workplace
beyond their internship experience. Ihrough online resources. and both online and offline events
Supporting all candidates.. Supporlin9 all randidates thal appty for our programmes. whether they secure
an intemship or not. to better prepare foi their continued lot￿SearCh through 8cce55 to CV workshops. as
well as addrtional guidance to support their 8pplicAtK)n in the next programme cyde
Mentorlng Intems: matching each intem wrth a mentor at their respective employer and training our
mentors in order to meet the specific needs of our inlems li.e.,'meeiing them where they are afl

THE 10,000 INTERNS FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
8y focusing on these areas, we achieve our strategic pr¥)nties of inueasing opportunty for professional experience
to young Black people across Ihe UK whilsl building a growing community ol alumni who will play a significant role
in nurturing the programme's future talent.
The 10,CKJO Interns Foundation has benefitled froffl extensive Volunteer eng89ement. The most signific8nt volunteer
contribution has come in the forn of training and evènts.
In the 202415 programme cycle we successlulty completed..
91 virtual and in-person training sessions
8 Insight Day5 and Trainings for 10KIF Prernier Mernbers and Strategic Partners
3 Masterclasses delivered by Linkedln lor unsuccessful candidates to support fijture job se8r¢hin9
Counttess hours and expert advice were given lo Ihe charity and its beneficiaries throughout this training period.
A¢hlov¢m•nts •nd yrformon¢•
Ovèr the past 12 months, The 10,000 Inl•ms Foundath)n ha$ ¢onlinu¥d lo bulld on th* SU￿$$ of ils prevlou$
annual programm8 cycles and the founda￿"OnS la￿ in prior yèars.
In 2024 we launched our first Impacl Report highlighting our alumni ne￿rk of 7000+ and unveiling the
Foundation's 10-Year strategic vision. The impact report revealed significant achievements. such as..
over 70% of inlemship alumni currentty being in full-time employment
30Q/o 01 internship alumni being retained at their hosi organis81ions
Sin¢& 2020, w¢ hav6 ¥n9ag*d wilh 1.IJOO+ part￿pabn9 organisations wfth an av&r89& y&arty rollovor
Iretentionl rate of over SS%
The strong growth ol the Foundalion is also evidence of its achievements. especially in light of the Foundation's
Starting point where the trustees initialty set oul to create 1W paid internship opportunrties for beneficiaries from 100
firms
By the &nd ol the 202415 ¢yde, the programme will have ¢￿81¢d 10,0￿ pa￿ inlemship opportunib'es, offer*d by
over 700 fimis across the UK an¢J across 35 sectors. Our Foundab"on has impacted tens of thousands of students
and graduates, as well as hundreds of participating fims.
In line with the 1Wear strategy, The Foundalion plans lo innovaie beyond the intemship programme to deliver an
equitable workplace experience lor our benefiraaries. as well as equilable access lo opportunities. In parallel, we will
launch our Alumni Prograrnme 81 the entl of the 202415 cyde." an annualised calendar tsf adivities and evtrnts lo
support our 10,000 Black Intèm$ Programm¢ alumni.
Developing stronger relationships wrth our exisbng supporters as well as lorging new strategic partnerships has
been a priority lor the Foundation. in order to support achievement of our strategic objectives. Our corporate
mernbership scheme has continued tQ 9row through 2024. wth over 20 Premier Members demgnslr81ing mission
alignment and a mUK￿Year commitment to the Foundalion.
The Foundation continued as the BVCAS Charity Partner. and conlinue(l innovative partnerships with organisalions.
including Bloornberg and Smart Works. Addrtionalty. our p8rtnership wrth Linkedln continued ihrough 2024 as we
built and nurtured our growing alumni communty and supported our wdei community of young Black talent.
We understsnd that our data 15 exlremety irnporlant to how we think about long-tem impact and our unique ability lo
contribute to an irnproved working experience for Blath professionals in the future. We spent 2024 deepening our
partnership with our ATS partner, Pinptsint, to Ixeate even rn0￿ bespoke tracking solutions for our firms and interns
alike, as well as exploring further ted) soluts.ons to facilrtate our understanding of candidate experiences through
better data collection.

THE 10,000 INTERNS FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Looking forward to the next 12 months, the trustees are excrted for the Fthjndatson to".
Celebrate the achievement of creating 10.0(K) paid internship opportunities
Continue enabling more Black talenl to enler the W0￿p1ace.
Support Black talent and enable them to suweed in Ihe workplace
Influence the reframing of the recruitfflent ènvimmènt to make it equitablè lor Black talènt
Launch the 10,OOOAJumni Programme
Be a financially secure and sustainable organisation
A5 the Foundation moves beyond its original mission of offering 10.000 paid opportunities through rts internship
programmes. it will ensure that any future activities are rooted in strategic derAsion8 and support beneficiaries to
thèir rnaximum potential.
FundraS•ln9
The trustees set out to raise £1.4m in 2024. by period end a total of £815.376 was raised. These funds included
donations Ivolunlary donations from firms), contributions Igranlsl and membership fees. We have set a target of
£1.5m for 2025.
Our fundraising strategy saw us approach our partiapating organisations following the completion of the internship
cyc4e for voluntary donations of any amount. in addition lo building out a Corporate Membership Scheme that
allowed participating organisalions lo engage with the Foundation beyond the internship prograrnrne, contributing
more than 80.ts of our total income. Strategi¢ partnerships were also sough¢ with key staktrholdtrrs and leveraged Its
providè funds or support in kind. No proles$ional fvndcais¢rs or third parties were us¥d and we have not r¥¢eivgd
any complaints wth regards to fundraising.
Flnanclal revlew
During the period. the charity raised £815,376 from donations and grants 12023". £912,971). Fundraising activities
are focused on generating income to support key areas of our work, particularly payToII and marketing. The largest
source ol fundraising continues to be the success ol Ihe programme rtsell. with fimis encouraged to make voluntary
donations following their internship period. In additson. Ihe Corporale Membership Scheme which was launched in
the prior year $8W Strong uptake during the Current year. enabling partiripaling organisalions lo engage with the
Found8tion bèyond the intemship programme. The resum for the year was impactèd by the delay in th& reeèipt of a
signrficant grant totaling £175,000 from Bloomberg, which was rècèived in January 2025 and will be accountèd for
In the year to December 2025
The charity reported a defiril of £448.308 12023.. £27.496 deficill. which reflects 8 deliberate and signific8nl
Investment in the charity's future growth and impact. This includes scaling the Corporate Membership Schem& and
enhancing operational capacity to support long-temi sustainabilrty.
At the period end, the chanty held unrestricted funds of £396.56612023.. £784,582) and no rèstricted fvnds 12023."
£59,595). It is the charity's policy to build unrestricted reserves equwalent to belween three and six months,
expenditure, Current￿ estimated al approximatety £285.OIX). The cvrrent level of reserves provides a buffer and
ensures that, in the event of a material drop in income. the charity can continue its core activities while exploring
additional fvnding opportunities. The trustees are salisfied ihat this level of reserves has been achieved.
Going Concèrn
The trustees consider it 8ppropri8te to prepare the financial slatement5 on a going concem basis. Thi5 assumption
is based on the trustees, review of the Foundats"on's financial posrtion under dTffe￿nt scenarios. At the worst case
scenario, trustees are able to utilise levers (o allow the chanty to continue to meet it's liabilities for the next 12
months. The trustee's review ol the pipeline of fjnanaal aclivty is positive and strategic partnerships that provide
funds continue. The FoundatioTh is one year into it's new 10 year strategy with plans to build and grow a larger
foundation. whilst being finanrialty sustainable.

THE 10,000 INTERNS FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Prlnelpal Rlsks and une•rta1n￿eS
All significant activities undertaken are subject to a risk review as part of the inth.al activity assessment and
implementation. Major risks are identified and ranked in temis of their potenb.al impact and likelihood. Major risks,
lor this purpose, are those that may have a signrficant effect on..
Operat￿nal perfomance, including risks to our personnel and volunteets."
Financial sustainabilty, induiling $tabilty and se¢uiity of lund$',
Achievement of our aims and objectives..
Meeting the expectations of our beneficiaries OT SUPPOrters
The trustees review these risks on an ongoing basis and satisfy themselves that adequate systems and procedures
are in place to manage the risks identified. Where appropriate. risks are covered by insurance. The following
framework is central to ensuring adequate risk a5suranrx'.
Regular Monitoring ol major risks and developmenl of aclion plans.,
Embedding risk identification and assessment wilhin operaling procedures,.
Adegr structure ol delegated authority and ￿ntrol.,
Review of key $y$lems and procedures through inlemal audil arrangements..
Income tsrgets lor our fvndraising activrties;
Maintaining reserves in line wrth set policies.

THE 10,000 INTERNS FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Struetur•. gov•mane• and managèment
The 10,000 Interns Foundation is a non%ovemrnÈntal, non-p01￿*1r￿1, non-religious organisation èstablished in 2021.
It is constituted as a company limited by guarantee under a mernorandum and attides of association incorporated 2
March 2021 as amended by special resolution registered at Companies House on 7 June 2021, as amended by
special resolution registered at Companies House on 20 May 2022. It is registered as a charity with the Charity
Commission.
Our Chief Executive Officer, appointed in September 2022, has been responsible for driving improvements and
innovation in all a￿aS of the charty, starting wrth people and Ofganisational slwcture.. building out a more extensive
senior management team and developing capacty and capability at the junior end of the organisation. as well as
refining our tech-stack. and creating standard operating procedu￿$ for all charitable activity to manage risks.
Our Chief Executive Officer is supported by a Chief Operating Officer and Chief Impact Officer, comprising the
Foundation's C-suite. The Senior Leadership Team also indudes a Head ol Operations. Head of Comrnunications
and Marketing. and a Head of People, Culture 8nd Community. The wider staff team work5 closely wrth the Senior
Leadership Team, meeting as needed lo liaise on str8te9y. relatsonship management. and safeguarding.
Key Tum M•mb•rs
Chief Executive Officer. RebeGca Ajulu.8ushell
Cljief Operating Officer- Jame&l8 R8ymond
Chiellmpo¢1 Officgr- Nona Campbg11
Head ofPeopl&. CultuTr & Community- Julie Quist-Thern
Head of Op8ralions- T8mJidAhmed
Heod ol Communi¢alion$ and Mark&tsng- Rge Philip
Key management remuneration was set based on a skills assessment undertaken by MSCI. This was rnapped
against average industry rates and an independent ￿pOrt was created by Resource Solutions lan HR research
company) (hat provided recommendations.
The trustees, who are also the directors lor the purpose of ¢orry)any law. and who strrved during ihe period and up
lo the dale of signature of the financial $t81emenls were..
Mr O O Kolade
(Resigned 110ecember 2024
Mr D K Konot$y-Ahulu
Ms F Butler
Mr M Barrington-Hibbert
Mr S G Breyer
Mr D A M Hutchison
Ms A Loderick
(Appointed 6 March 20241
(Appointed 10 December 20241
The articles allow for new trustees to be appointed on a rolling basis and serve until they resign. All our exlsb.ng
trustees have long experience ol being a charrty Iruslee and are not remunerated for their trusteeship. Our trustees
are unpaid. and details ol trustee expenses and any related party transactions are disdosed in the accounts.
Where new trustees are appointed. they are given a fomial induciion to the work of the charity and provided with the
information they need to futhl their roles, Wh￿ indudes infornialion about the role of trustees and charity law. New
trustees are nominated by members of the board of trustees. inte￿IeWed by a panel of three trustees and appointed
where they have the necessary skills to contribute lo the chanty's management and development.

THE 10,000 INTERNS FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Dlselosura of Infomiatlon to audltor
Ther8 is no r818vant audit information of which the chartty's auditors are unaware." and the trustees have taken 811
the steps that they ought to have taken as trustees in older to rnake ihern5elves awaie of any ielevant audit
infomation an¢J to establish that the chanty's auditors afe awa￿ of that infomab"on.
Thè tiustees. report was approvÈd by thè Board of Trustees.
2knvi&(
M Ih&ckiso
Mr D A M Hutchison
Trustoè
1510912025
Dale..

THE 10,000 INTERNS FOUNDATION
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEAIBER 2024
The trustees, who are also Ihe directors of The 10,000 Intems Foundation lor the purpose of company law, are
responsible lor preparing the Trustees, Report and the finanaal stalements in accordance with applicable law and
United Kingdom Accounting Standards Iunited Kingdom GeneraltyAccepted Accounting Practice).
Company law requires the trustees to prep8re financial statements for e8ch finanryal period which give a true 8nd
fail view of the stat8 of alfairs of the charty and of the incorning resources and applieAtion of resouicès, induding
the income and expenditure, ol the charrtable company for that period.
In preparing these financial statements. the truslees are required to..
select SUlt8ble accounting policies and then appty them consistently..
- obs8ni¥ th& methods and prin¢ipl¥$ in th¢ Charities SORP.,
- rnake judgements and estsmates that a￿ reasonable and pwdent..
state whether applicable UK Accounting Standards have been followed. subject to any material departures
disclosed and explained in the financial statements.. and
prepare the financial stat•m8nts on the 90in9 cOn￿M bas1$ unl8$$ 11 1$ Inapproprfgle lo presumè that the ¢harfty
wlll continue in operation.
The Iruslees are responsible for keeping adequate accnunthng records that disdose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that Ihe financial s¢alements comply wrth the
Companies Aet 2006. They are also responsible for $8fe9uar¢Jing the assets of the charty and hence for taking
re8$on8ble steps for the prevention and deledion ol fraud 8n¢J other irre9ul8riti¢s.

THE 10,000 INTERNS FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE 10,000 INTERNS FOUNDATION
Oplnlon
We have audited the financial staternents of The 10.000 Intems Foundation (the 'charity'l for the year ènded 31
Decembei 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows
and notes to the finanaal statements, induding signthcant accounb.ng poliaes. The financial reporting framework
that has been applied in their p￿paratIOn is applicable law and Uniled Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
Iunited Kingdom Generalty Accepted Accountsng Pracb'rEI.
In our opinion, the financial staternents..
give a tnje and lair view of the stale of the charitable companrfs affairs as at 31 December 2024 and of its
incoming resources and application of resourcEs. induding its income and expenditure. for the year then
ended..
have been properfy prepared in accordance wrth United Kingdom Generalty Accepted Accounting Practice,.
and
have boen preparetj in a¢¢ord8nce wrfh the requirtrments of the Companies Ad 2006.
Ba818 for oplnlon
We conducted our au¢Jit in ac￿rdanc? wrth Intem8bonal siandards on Auditing IVKI IISAS IUKII 8nd 8ppli¢able
law. Our responsibilities under those standards ar& fvrther (Je￿ribed in lh& Audiloffs fyspon$ibilili&s for tha 8udil of
the financial stètem8nÈs section of our report. We are independent of the charity In accordance wrth the ethlcal
requirements that are relevant to our audit of the finanual statements in the UK, including the FRC'S Ethical
Standard, and we have fU￿illed our other ethical responsibilil*s in accordance wrth these requirements. We believe
that the audit evidence we have oblained is sufficAent and appropriate to provide a basi5 for our opinion.
ConcluJlon• relatlnq to golng concern
In auditing the financial statements. we have conduded that the trustees, use of the going concern basls of
accounting in the preparation of the financial slatemenis is appropriate.
Based on the work we have perforned. we have not identified any m8leri81 vncertsintTes relating lo evenl$ or
conditions that. individually or ¢olle¢tivety, may ¢a$t $ignifi¢ani doubt on the ¢h8rity'$ ability to continue as a going
Concern for a period of 8t least Iwelve month$ Irom wh&n the fin¥noal $tslem¥nt$ aro gu¢hori$e4 for issue.
Our responsibilities and the responsibilities of the trustees wth respect to going concern a￿ described in the
relevant sections of this report.
other InforrnatSon
The other infomiation comprises the infomialion induded in the annual ￿pOrt other than the fjnanaal statements
and our auditors report thereon. The trustees are responsible for Ihe other inforniation contained within the annual
report. Our opinion on the financial statements does nol cover Ihe other infomiation and. except to the extent
otherwise explicitly stated in our report. we do not express any form ol assurance conclusion thereon. Our
responsibility is lo read the other inforrnabon and. in doing so. consider whether the other inforrn8tion is material
inconsistent wrth the Iinancial statements 01 our knO￿edge obtained in the course of the audrt, or otherwise appears
to be materialty misstated. If we Identrfy such material inconsistencies or apparent material misstatements, we are
required to determine whether this gives rise lo a material misstatement in (he financial statements themselves. If.
based on the work we have performed, we condude thal there is a mateiial misststement ol Ihis oiher infomiation,
we are required to report thal fact.
We h8ve nothing to report in this re9ard.
Oplnlons on other matters prescrlbed by the Companles Act 2006
In our opinion. based on the work undertaken in the course of our audrt-
the information given in the trustees, ￿pOrt for the finanual year for which the finanaal statements are
prepared, which includes the direciors, report prepared for the pu￿)seS ol company law, is consistent with the
rinancial ststements.. and
the directors, report induded within the trustees, report has been prepared in accordance wrth applicable legal
requirements.

THE 10,000 INTERNS FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE 10,000 INTERNS FOUNDATION
Mattèrs on whlch w• ar• requlred to r•port by eX￿pIlon
In the light of th8 knovAedge and understanding of the tharity and its environment obtained in the cours8 of the
audit, we have not identified material misstatements in the directors. report induded within the trustees, ieport.
We have nothing to report in ￿spect of the follthwng mattets in relab.on to which the Companies Act 2006 requires
us to report lo you rf, in our opinion..
8dequ8te accountlng rectsrds havè not bèèn kept. or rètums 8dèquatè for our audit havè not bèèn rèceivèd
from branches not visrted by us, or
the financial statements are not in agreement wrth the accounbng records and retums.. or
certain disclosures ol trustees. remuneration speufied by law are not made., or
we have not received all the information and expl8n8tion5 we require for our 8udil.' or
the trustees We￿ not entitled to p￿pa￿ the financial statements in accordance wrth the small companies
gime and take advantage of the small companies, exempbons in p￿paring the trustees, report and from the
requirement to Prepa￿ a strategic report.
R•$pon$lbllltl•$ of tru$t•••
As explained more fully in the statement of Iruslees. responsibilities. the trustees. who are also the directors of the
charity for the purpose of company law. a￿ responsible for the p￿parat￿)n of Ihe financial statements and for being
satisfied that they give a true and fair view. and for such internal Control as the truslees delemiine is necessary 10
enable th& preparation of financial statÈmenis that are free from matèri81 misstatement, whether dye to fraud oi
error. In praparing thè financial stalemènts. thè trusleès ar¢ resptsnsib￿ for assessing th$ charity's ability to
continue as a going concern, disdosing. as applicable. matters relaled to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate Ihe charitable company or to cease
operations, or have no realistic allematNe but to do so.
Audltorf$ rgJpon¥lbllllle8 lor Ihe audlt of the financlal 8tstements
Our objectives are to obtain reasonable assurance aboul whether the financial sialements as a whole are free from
material misslalement, whether due lo fraud or error. and lo issue an audilorfs report that includes our opinion.
Reasonable assurance is a high level of assuran￿ but is not a guaranlee thal an audit conducted in accordance
with ISAS IUKI will always detect a material misstatement when it exisls. Misstatements can arise frorn fraud or
èrror and are considered m8tèrial if, individualty or in the aggrègatè. they Could feasonabty be expe¢l¥d lo influ&n¢&
the ¢¢onomic dècisions ol users taken on Ihè basis of thesè financial statem¥nl$.
The extent to which our procedures are capable of detecting irregu18rib"es. Induding fraud, is detailed below.
In planning our audit, we identfy and assess the risk of material misststernenl within the financial stalements.
whether due to fraud or error. In assessing the risks, constderation is given to the control environrnent (including
Iruslee5' and managemenfs ¢)wn pr￿sseS for identffiGation and risk a55e$5mentl a5 well as the nature of the
entity, the sector in which it operates and the undertying performance. Consideration is a150 9iven to the attitudes
8nd incentives of management to commrt fraud, wrth specrfic pn)cedures planned and performed to respond to the
dsk of inappropriate managemenl override of controls.
We also obtain an understanding ol the applicable laws and regulations to which Ihe chanty must adhere. through
discussions with management and those tharged with govemance. as well as commerrial knowledge of the sector
and statutory legislation. in order lo determine the key laws and regulation5 8pplic3ble to the charty.

## **THE 10,000 INTERNS FOUNDATION** 

## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE 10,000 INTERNS FOUNDATION** 

After assessing the risk of fraud, we performed audit procedures to gain assurance regarding fraud and management override as follows: 

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the rationale behind significant transactions outside the normal course of operations. 

- Assessment of accounting estimates within the financial statements in order to assess their reasonableness to determine whether there is any bias in the estimates. 

- Review of meeting minutes of trustees and management 

- Enquiring of management and trustees as to whether they are aware of any alleged, suspected or actual fraud during the period 

We also performed procedures to satisfy ourselves regarding compliance with applicable laws and regulations, including: 

- Enquiry of trustees and management around actual and potential litigation and claims 

- Reviewing minutes of meetings of those charged with governance 

- Reviewing correspondence with relevant legal authorities 

- Reviewing legal expense accounts for any indicators of litigations 

All audit team members were made aware of the applicable laws and regulations, as well as potential fraud risks during the planning stage of the audit and this was discussed at the audit team planning meeting. It was therefore determined that team members all had the relevant awareness and competence to identify any instances of non­ compliance or fraud. 

There are, however, inherent limitations to our above audit procedures. Auditing standards only require us to enquire of the trustees and management regarding non-compliance with laws and regulations, as well as review regulatory and legal correspondence (if there is any). It is therefore possible that instances of non-compliance could be missed, particularly where the law in itself is far removed from any financial transactions. 

A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// 

www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 

## **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. 



## **Helen Rumsey (Senior Statutory Auditor)** 

For and on behalf of Ensors 

Chartered Accountants Statutory Auditor 

-10- 



THE 10,000 INTERNS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEAIBER 2024
Unrestrlcted Restrlcted
lunds
funds
2024
2024
Total Unrestrlcted Restrlcted
fund8
funds
2023
2023
Total
2024
2023
Notès
Income from:
Donations and legacies
815,376
815.376
786,971
126,000
912,971
Total Ineom•
815,376
815.376
786.971
126,000
912,971
Expendlture on..
Raising fund5
Charitable activities
267.404
936,685
267.404
996.280
245.069
519.061
245,069
695,398
59,595
176.337
Total exp8ndltur•
1.204.089
59.595 1.263.684
764.130
178.337
940,467
Net expendltur•
1388.713}
159.595) 1448.3081
22.841
150.3371
127.4961
Othèr rèeognl8•d
galn8 and lo#st#'.
Forex movements
11
697
897
Ngt movement In
fund•
1388,016}
159,595) {447,611}
22,841
150,3371
127,4961
R•conclllatlon ol fund8:
Fund balances al 1 January
2024
764,582
59,595
844,177
761,741
109,932
671,673
Fund balanc•• at 31
D•c•mb•r 2024
396,566
3%.586
784.582
59.595
844,177
Thè statement of financial acbvibes indudes all gains and b)$w r8cognisèd in the year. All incomè and expenditure
derive from continuing activities.

THE 10,000 INTERNS FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Flxed assets
Intangible assets
Tangible assets
12
13
876
46,218
1.237
3.560
47,455
Current a8set8
Debtors
Cash at bank and in hand
14
169.335
330.476
418.471
481.497
499.811
899.968
Cr•dltors'. amounts falllng du• vAthln
one year
15
11C6.8051
1103,2461
Net curront aosets
393.006
798,722
Total a8•ets leos current Ilabllllle8
396.566
644.177
The lund8 of the charSty
Restricted income lunds
Unrestricted funds
17
18
59,595
784,582
396.566
3￿.566
844.177
1510912025
The financial statements were approved by the trustees on .......................
Mr D A M Hut¢hi$on
Trustee
Company registration number 13240148 IEngland 8nd Wales)
12_

THE 10,000 INTERNS FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEAIBER 2024
2024
2023
Note$
Cash flows from opèrating aetlvltl•s
Cash absorbed by operatsons
23
1148.7711
1196.7201
Inv•stlng actlvltl•s
Purchase of tangible fixed assets
{2.250}
11.4881
Net cash used In Investing activitie8
{2.2501
11.4881
Net co¥h us¥d In financlng octlvltl
N•t d¢¢r¥a$* In ¢•$h •nd ¢a$h •qul¥oltrnt•
1151.021)
1198,2081
Cash and cash equivalents at beginning of year
481,497
679,708
Cash and ca8h equlval•nts at •nd of y•ar
330.476
481,497
13-

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEAIBER 2024
Aecountlng pollel•s
Charfty Snforniatlon
The 10,000 Interns Foundation is a private company limrted by guarantee incorporated in England and Vwdles.
The registered office is 68 Hanbury Street, London, E15JL.
1.1 Accounting convention
The financial statements have beèn prepared in accordancè vAth thè charity's goveming documènt, thè
Companies Act 2006, FRS 102 "The Finanaal Reporting Standard applicable in the UK and Republic of
Ireland I"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charit￿S preparing Iheir accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. leffeclive 1 January 20191. The
charity is 8 Public Benefit Entity as defined by FRS 102.
The financial $tatemenl$ a￿ p￿pared in slewling, whicj) is the lunth'onal curnency of th¥ ¢harty. Monetsry
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prePa￿d under the hISt￿lCa1 cost convention. The principal accounting
policies adopted a￿ set out below.
1.2 Golng concern
At the time of approving the financial slalements. the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the loreseeable lulure. Thus the trustees
continue to adopt the going concem basis of accounbng in preparing the financsal staternents.
1.3 Charttabl• funds
Unrtrstri¢led lun¢y8 ar& availablo fcrf use at the dis¢r&tion of Ihe Iwsl¢e$ in lurtheran¢e of their ¢harit8ble
objectives.
Reslrieled lunds a￿ subject lo spe¢ffi¢ ￿nd1110ft$ by donors or grantors as lo how they May be used. Th&
purposes and u$e$ of the restricted lund$ arts set out in the note$ l(tr the financial statements.
1A Income
Income is recognised when the chanty is legalty enlrtled to it after any perfomanc8 conditions have been met,
the amounts can be measured Teliabty, and it is probable thal income will be received.
Cash donations are recognised on receipt. Other donats.ons are recognised once the charty has been notsfied
of the donation, unless perfonnance condth.ons require deferral of the amount. Income tax recoverable in
lalion to donations re￿Ned under GiftAid or deeds ol covenant is recognised at the lime of the donation.
Legacies and grants are recognised on receipl or otherwise rf Ihe charity has been notffied of an impending
distribution, the amount is known, and receipl is expected. If the amount is not known, then it is t￿ated as a
contingent asset.
Mernbership income is re￿nised upon stsrt dale of membership period.
14_

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Accounting policies
(Continuedl
1.5 Exp•ndltur•
Eypenditure is recognised once Ihere is a legal or constructive obligation to Iransfer economic benefit to a
third paty. r( is probable that a transfer of e￿nOMiC benefits will be iequired in settlement, and the amount of
the obligation can be rneasured reli8bty.
Expenditure is dassified by athvty. The costs of each adivrty are made up of the total of direct costs and
shared costs. including support costs involved in undertaking each acbvity. Direcl costs attributable to a single
activity are allocated directy to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned befvleen those activitie5 on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and
depreciation charges are alk)raleiJ on the portion of the assel's us&.
Raising funds includes all assoaated costs wrth building felationships with donors and prospective donors.
Charitsble acts'vits'es indudes all costs incurred by ihe charity in Ihe delivery of rts activi￿.e8 and services for its
beneficiaries. 11 includes both costs that can be alocated diredty to 8uth activities and those costs of an
indirect nature ne¢e5sary lo support them.
1.6 Intanglble fixed a88et8 Other than goodwlll
Intangible assets are recognised al cost and are subsequentty measured at cost lèss accumulated
amortisation and accumulated impaimwnt losses. Amortisation is charged once the asset is complete and in
use.
Amortlsatlon is recognlsed so as lo write off the cost or valualion of assets less thelr resldual values over thelr
useful lives on the following bases..
Softwar¥
33% slraighl ts'ne
1.7 Tanglble Ilxed assets
Tangible fixed assets are inrtialty measured at cost and subsequenty measured at cost or valuation, net of
depreciation and any impairment losses.
Depreaation is recognised so as to wnte off the cost or valuation of assets less their residual values over their
useful Iwes on the follow'ng bases..
Computers
33% straight line
The 98in or loss arising on the di￿0581 of an asset i¥ delewrnined a$ the dtherence befvrfeen the s81e proceeds
8nd the c81rying valuè of the asset. and is r8cognisèd in the ststemenl of finanu81 actt¥Tbes.
1.8 Impainnent of fixed assets
At each reporting end date. the charity reviews the carrying amunts ol its tangible and intangible assets to
detemiine whether there is any indication that those assets have suffered an impairrnent loss. If any such
indication exists. Ihe recoverable amount of Ihe asset is estimaled in order to detemiine the extent of the
impairment loss lif any).
1.9 Cash and cash equlvalents
Cash and cash equivalents Include cash in hand, deposits hekl at call wrth banks, other short-temi liquid
investments with original maturities of three monlhs or less, and bank overdrafts. Bank overdrafts are shown
wrthin borrowings in ojrrent lia￿'bitIes.
15-

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Accounting policies
(Continuedl
1.10 Flnanelal Instrnm•nts
The charity has elected to appty the provisions of Section 11 'Basic Financial Instwments, and Sects'on 12
'Other Finanri81 Instruments Issues. of FRS 102 to all of its financial instruments.
Flnancial instruments are recognisefl in the chanty's balance sheet when the chailty becomes party to the
contractual provisions of the instrument.
Financial assets and liabilitEs are offset. wth the net amounts presented in the financial statements, when
there is a legalty enforceable right lo set off the recognised amounts and there is an intention lo settle on a net
b8515 or to realise the asset and 5elUe the liability simuhaneou5ty.
Basle finanelal •ss•ts
Basic financial asset5. whKh indude debtor5 and cash and bank balances. a￿ initially measured at
tr8ns8Ction price induding Iransaction costs and are subsequentty carried at 8morty.sed c05t Using the effective
interest method unles5 the 8rr8ngemenl wnstilules a finan￿n9 transaction. where the transaction 1$
measured at the present value of the lulure receipls discounl•d at a market rate of interest. Finanaal assets
classified as r￿1Vable within one yeai ale not amortbsed.
Baslc flnancial liabilltlos
B8sic fin8n¢ial liabilities. indudin9 Creditors and bank 108n$ ao initk?Ily recognised al tr8n$adion pri¢e unl•$$
the arrangement conslilules a finanong transaction. where the debt Inslwment is measured at the present
value ol the future payments discounted at a market ratè of inlerest. Finanaal liabilities classified as payable
wrthin one year are not amortised.
Debt instruments are 8ubsequentty carried at amortl8ed cosl. using the effective interest rate method.
Trade ¢re¢Jilor$ a￿ obligations lo pay for 9oc4Js or servi¢*$ Ihal have b¢•n acquirea in the ordinary ¢ours¥ of
operations from suppliers. Amounts payable are dassified as current liabilrties if payment is due wthin one
year or less. If not, they are presente¢J as non-current liabilitses. Trade credrtors are recognised iniually at
transaction price and subsequentty measured at amortised cost using the effectNe interest rnethod.
Dorecognition of finonclal liabilities
Financial Iiabilrties are derecognised when the charty's contractual obligations expire or are discharged or
cancelled.
1.11 Employee benellts
The cost of any unused holiday entthment is recognised in the period in which the employee's seNus are
received.
Terrnination benefits are recognised immediatety as an expense when the charity is demonstrably cornmrtted
lo tenninale the employment of an employee or to provKle lewrninatson beneffts.
1.12 R•tir•mènt btnèfits
Payments to defined ￿ntribut￿n retiremenl benefft scheffjes are charged as an expense as they fall due.
1.13 Leases
Rentals payable under operating leases. induding any lease incenlives receNed, are charged as an expense
on a straight line basis over the temi of the relevant lease.
1.14 Forelgn exchange
Transactions in currencies other than pounds sterfing are recorded at the rates of exchange p￿Valling at the
dates of the transactions. At each reporting end date, monelary assets and liabilits.es that are denominated in
foreign currenues are retranslated at the rates prevailing on the repo￿"ng end date. Gains and losses arising
on translation in the period are included in the statement of financal activrties.
16-

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
c￿tIcal accoun￿ng •stlmat•s and ludg•mènts
In the application of the charity's accouniing policies. the trustees are required to make judgements, estimates
and assumpts'ons aboul the carying amount of asseis and liabilrties that are not readily apparent from other
source5. The estirnates and as50¢iateil assumptions are based on historical experience and other factor5 that
are considered to b8 relevant. Actual reSU￿S rnay drffei from Ihe5e estimates.
The estimates and un¢Jertying assumptions afe reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimale is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.
In¢om• from donatlons and l•gael
Unre•trlet•d R•strlet
fund¥
lund¥
2024
2024
Total Unrnstrlet•d R￿trIcted
fund$
funds
2023
2023
Total
2024
2023
Donatlons and grfl$
Grants
Membership fees
199,801
130.2C
485,389
199.801
130.2C6
48S.369
373.580
155.391
258,000
373,580
281.391
258,000
126.000
815,376
815.376
786.971
126.000
912,971
Donatlon8 and ylfts
Donations
Other
197.815
1.986
197.815
1.986
373.580
373.580
199.801
199.801
373.580
373,580
Ralslng lund8
2024
2023
Travel and subsistence
Advertising
Computer costs
Staff costs
5,772
49,811
5.259
206,562
11.285
53,211
677
179,896
267,404
245,069
17_

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Exp•ndltur• on charltsbl• aetlvltl•s
Total
2024
Total
2023
Dlrect costs
Stsff costs
Advertising
onsutsncy lees
403.861
41,808
5,143
299.823
21,567
20,705
450,812
342,095
Share of Support and go¥emance c08ts (see note 6)
Support
Governance
346,721
198,747
255,125
98,178
996.280
695.398
Analy¥l¥ by fund
Unrestricted funds
Re81ri¢ted funds
938,685
59,595
519,061
176,337
996,280
695,398
Support ¢o$t• ollo¢•t•d IO •¢llvltl•s
2024
2023
Staff costs
Depreciation
Rent
Bank chargès
Printing, postage and stationery
Irrecoverable VAT
Insurance
Web development
Subscriptions
Accountan
Govèmance costs
88,854
46.145
59.420
331
7.687
26,954
2.769
50,796
39.758
44.007
198,747
59,968
49.014
58,918
107
913
3.252
56,441
17.256
11,258
98,178
545,468
353,303
Analysed between..
Gharitable act￿￿'e5
545.468
353,303
18-

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Support costs allocated to activities
(Continuedl
2024
2023
Govemance costs comprise:
Stsff costs
Audit fees
Leg81 and prolessional
68.654
13.000
116.893
59,966
13,826
24,386
198.747
98,178
N•t mov•m•nt In funds
2024
2023
Th¥ not movèment in fund$ 1$ $tat8tl aft&r ¢har9ingllrJ8(liti"n91:
Fees payable for th8 audit of the charity's ffinancial slatem8nts
Depre¢i8lion of owned lan9ible fixed assets
Amortisation of intangible assets
Operating leasè charges
13,000
803
45.342
59,420
13,828
1,964
47.050
56,918
TrU￿te￿ •nd r¢l•ted party tr4nsa¢tJo
Nonè of the trust¢e$ lor any persons wineded wrth them) rec¢lved any rèmun&rallon durfng ether p&rfod
and no trustees were reimbursed for any expenses.12023". Nill.
Donations of £27,9C¥)12023.' £80,000) were ￿rRIved wilhout CAinditions from organisations connected to the
trustees.
Payment$ of £1.262 12023.. £4,157) were mad& lo ¢ompani¥$ ¢onne¢ted lo the Irusle&$ for s&rvi¢es provided
on an arms length basis.
Employ•e8
The average monthty number of employees during the yearwas..
2024
Number
2023
Number
13
Employment costg
2024
2023
Wages and salaries
Social security costs
Other pension costs
666,302
71,433
10.396
538.846
54,996
7.809
748.131
599.651
19-

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Employees
(Continuedl
The number ol employees whose annual iemuneralion was more than £60.000
is as follows..
2024
Number
2023
Number
£60.000- £70.000
£80.001 - £90,000
£140.001- £150.000
£150,001- £160.000
10 Taxatlon
The charity is exempt from Corporation Tax as li has no taxable trading income and applles all Income for
charitable purposes.
On 1 July 2024. the charity registered for VAT and is now partially exempt. This means it incurs input VAT on
certain purchases which m8y nol be lulty re¢ovef8ble. The ¢h8rity reviews its VAT r￿0Very positr'on regularly
and 8ppli&s the appropriate p8rtial trxemplion method in lin& vrith HMRC guid8n¢¥.
11 Other galns and lo•••s
Unre8trtcted Unre8trlcted
fund•
funds
2024
2023
Galnslllossesl upon..
Foreign exchange
697
12 Intanglbl• Ilx•d assèts
Softwaro
Cost
At 1 January 2024 8nd 31 Decembèr 2024
141,150
Amortlsatlon and Impalmient
At 1 January 2024
Amortisation charged for the year
94,932
45,342
At 31 December 2024
140.274
Carrying amount
At 31 December 2024
876
At 31 December 2023
46.218
-20-

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
13 Tanglblè (lx￿ ass•ts
Computors
Cost
At 1 January 2024
Additions
5.893
2,250
At 31 December 2024
8,143
Oepreclation and impainnent
At 1 January 2024
Depreciabon charged in the year
4,656
803
Al 31 December 2024
5.459
Corrylng amount
At 31 December 2024
2,684
At 31 December 2023
1,237
14 O•btorn
2024
2023
Amounts falllng due wlthln on• year:
Trade debtors
Other debtors
Prepaymènt$ and a¢¢rued in¢om&
96.280
86.500
6,575
328.519
86,500
25,452
169,335
418,471
15 Credltor¥'. amounts f•lllng due wlthln one ye•r
2024
2023
Other taxation and social security
Trade creditors
Other credrtors
Accrual$
39,867
28,209
24,494
14,235
59,977
10,961
18,178
14,130
106,805
103,246
16 R•tir•m8nt bonèfit seh•m•s
2024
2023
Dèfined contrlbutlon schemes
Charge to profft or loss in respect of defined contribution schemes
4,006
3,905
21

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
16 Retirement benefit schemes
(Continuedl
The charity operates a defined contribution pension scheme for all qualrfying employees. The assets of the
scheme are held Separate￿ from those olthe charrty in an independently administered fund.
The amount recognised in the Stalement of Financial Activities as an expense in respect ol defined
contribution schemes was £10.39612023'. £7.8091.
17 RO$t￿¢tr￿ fund$
The restricted lunds ol thè d)anty comprisè thè unexpended balancès of donations and grants hèld on trust
subject to speafic conditions by donors as to how they may be used.
Movement in funds
Incoming
Agwur¢
8•l•n¢• •t
*xpgndg¥1 J•ny•ry 2024
8•l•nu •t
l J•nu•ry 2023
8•l•nce at
9x￿n￿*d 31 Dgcgmbfrr
2024
Sillicon Valley
109.932
126.0(￿}
1176.3371
59.595
159.5951
The Silicon Valley fvnding was awarded to develop the capacty and capabilty of our team. The funds are
the￿lOre restricted to HR spend induding key management. employees, and consultants salaries and
remvner81ion as well as Ir8ining and development costs.
18 Unr*$trl¢tod fund$
The unrestricted funds ol the charity comprise the unexpended balances of donations and grants which are
not subject to specAfic conditions by donors and grantors as to how they may be used.
Al 1 January
2024
Incomlng
Sou￿e5
Resource$
expended
Galns and
1088e8
A131
December
2024
Gener81 fvnds
784.582
815.376
11.204.089>
697
396.566
Prevlous year:
At 1 January
2023
Incomlng
reSOu￿e￿
Resources
expended
Galns and
10s8e8
At31
December
2023
Gen8ral funds
761,741
786.971
1764.1301
784,582
-22_

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
19 Analysls of nèt assèts b•tw••n funds
Unr•strlet•d
fund8
2024
Rèstrtctèd
funds
2024
Total
2024
At 31 December 2024:
Intangible fixed assets
Tangible assets
Curr8nt assetsllliabilrti¢sl
876
876
2.684
393,006
393.006
396,568
396,566
Unre•tdcted
fund$
2023
Re8tricted
fund8
2023
Total
2023
At 31 D￿eMber 2023:
Intangible fixed assets
Tangible assets
Current assetsllliabilities
46,218
1,237
737.127
48,218
1,237
796,722
59.595
784.582
59.595
644,177
20 Gu4rant••
The charity is a company limrted by guarantee", in the event of the charlty b&ing wound up, the liabllty In
spect ol the guarantee is limited to £10 per member of the charty.
21 Operatlng lease commltments
L¢$¥ee
At the reporting end dale the charity had othstanding commitments for future minimum lease payments under
non-cancellable operating leases, which fall due as lollows..
2024
2023
Within one year
63,360
51.840
-23-

THE 10,000 INTERNS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
22 R•muneratlon of k•y manag•m•nt p•rsonn•l
Key managernent personnel indud8 all persons that have authority and rospon$ibility for planning, directing
and controlling the activities of the chafty.
The remuneration of key managemenl personnel is as follows.
2024
2023
Aggregate compensation
448,233
397,252
23 Co8h g•norat•d from oporatlons
2024
2023
DefieA for the year
1448,3081
127,4961
Adlustments for..
Foreign exchange drfferences
Amortisation and impaimient ol Intangible assets
Depre¢iabon and impairment ol langible fixed assets
697
45,342
803
47,050
Movements in working capital".
Decreasellincreasel in debtors
Increase in C￿ditOrS
249,136
3,SS9
1243.0671
24,829
Cash absorbed by operntlon*
1148,7711
1196,7201
24 Analysls of changes In net debt
The charty ha¢J no material ¢Jebt durin9 the year.
-24_