Annual Impact Report 2023-24 GOVERNORS FOR SCHOOLS We supported the appointment of 2,165 governance volunteers in over 1,650 schools. academies and trusts across England and Wales. We achieved a 50h increase in volunteers appointed to school governance roles in 2023-24. 350/9 of these volunteers are from a global majority background, 690/0 are under 45, and 8 % identified as being LGBT+. We are delighted with the impact we have had over the past 12 months. Now into our 25th year, we are working to evolve our services - both to meet the needs of the sector and ensure our long-term sustainability as an organisation years
Annual Report 2023-24 GOVERNORS ,. SCHOOLS Contents Legol ond Administrative Information 2-17 Report of the Trustees 18-22 Independent Auditors, Report to the Trustees 23 statement of Financial Activities 24 Income and Expenditure 25 Stateinent of Financiol Position 26 Statement of Cash Flows 27-35 Notes to the Finoncial Statements
Annual Report 2023-24 GOVERNORS SCHOOLS Legal and administrative information Board of Trustees Dominic NcGonigol (Choir) lon Armitage Adrian McLean Anita Rolli Mork Twigg Sean Alleyiie (appointed 17th Jonuary 2024) Neil Collins loppointed 28th June 20231 Emma Gregory lappoirnted 28th June 2023) Angela Norrish lappointed 17th January 20241 Dovid Rowsell (resigned 27th June 20231 Anne Punter (resigned 27th June 20231 Jane Higgins (resigned 17th Jonuary 20241 Company Secretary Taro Hill Chief Executive Hannah Stolton Registered Off ice Sycomore House Sutton Quays Business Park Sutton Weaver Runcorn England WA7 3EH Company Registration number 3879854 Ck)arity Registration number 1078330 Auditors AGP Chartered Accountants Sutton Quoys Business Park Sutton Weaver Runcorn WA7 3EH Bankers Uoyds Bank PO Box 1000 Andover BXI ILT Solicitors A&0 Shearman LLP One Bishops Square London Page I
4Annual Report 2023-24 GOVERNORS ,SCHOOLS Who are we? Governors for Sck)ools is o nationol educotioii ck)ority that sources and supports skilled people oiito governonce boards across England and Wales. For almost 25 years, we hove beeii recruiting Migh-colibre volunteers froim a range of k)ockgrounds, ollowing tliem to briiig their knowledge to school ond trust boords and moking o differeiice to how schools ore run. we're pai-t of our" voliiiiteers, |OLirneys oiid are committed to ploying on active role in their developmeiit os school governors and academy trustees. We believe thot placing skilled volunteers from diverse bockgrounds on governing boards contributes to eff ective goveriiance. A strong ond diverse board enables schools ond trusts to provide pupils with the best education possible, helping children and young people reach their full potentiol. Our mission Our vision We're committed to providing those responsible f or governance appointments with the best governor and trustee recruitment service in the sector. We're working to ensure that every school ond trust irn England and Wales has excellent governonce, driving improved educational outcomes f or all children and young people. Our aspirations for the sector In Januory 2024, we IoLinched our five key aspirotions for the school governance sector, olongside our five-yeor impact report. 1. Schools and trusts need to invest in governance, recognising the vital role it plays in securing strong leadership and improving pupil outcomes. 2. All boards need to show their commitment to staff and pupil mental health by having a wellbeing governor. 3. Schools and trusts should ensure diversity of skills, backgrounds and experiences on their boards. 4. All governors and trustees need to be provided with induction and ongoing training, including access to peer support, to help them in their first six months. 5. All employers should recognise the value of their employees volunteering in school governance roles ond support them to do so, creating valuable links with industry. We ore committed to ochieving them alongside our many collaborative partners. To reod more about how we are working towards these aspirations, and how you can support them, please visit our website re Page 2
' Annual Report 2023-24 GOVERNORS FOR SCHOOLS Chair's foreword From September 2024, there will be r)0 government f uiiding provided to the school governance sector. Given our position os the market-leading governor recruitment service across England and Wales, the support we provide schools is now more important than ever. As a charity, we have evolved our services to off er school governor, chair of governors, and academy trustee recruitment over the past eighteen months. We ore now the only organisotion capoble of supporting the entire breadth of the stote school sector. From our conversations with mony in the space, five-yeor impact report and practical experience os governonce volunteers ourselves, we Ljnderstand the importance of effective school governance at all levels, ond in oll types of settings. The Chartered Governance Institute stotes that long-term success and organisationol stability requires.. a systemic approach to orgonisotional decision- making, performance monitoring, and accountobility. In short, good governance. With the demand for our services as strong as ever, we have invested in our teom and systems to be able to recruit the skilled volunteers the sector needs. Skills such as finance, safeguarding and experience in education remain omong the most requested - and we will be developing new woys to support schools with these recruitment needs in the year ahead. We are excited to share these plans with you. I would like to take the opportunity to thank all those who freely give their time ond expertise to support the school sector through governance roles of all kinds. The volue you add individually and collectively is enormous, and we are proud to have supported so many of you to take on roles over the post year. We are committed to being here in the long run to provide invaluable support to the sector. We also thonk you for your commitment and look forword to our continued journey together ahead. Dominic McGonigal Chair, Governors for Schools Page 3
Annual Report 2023-24" , GOVERNORS FOA SCHOOLS CEO report As tlie coiring pages sliow, tliis yeor lios beeii one of ropid growth and development f or LIS OS o cliority. 2023 sow tlie start of OLir 3-yeor strotegy to PLlt tlie orgonisotion on o SLlStoinoble footing. We are iiMIMensely proLid of OLir viork over tlie post 25 yeors, ond it is now Imore crLicioI than ever that we secLire OLir fLItLire. It has been o pleasure to collaborate with OLir trustees os we develop OLir plons to continue to serve the sector, by finding the skilled, diverse, ond dedicatecl volLinteers tliat are so vitol to scliool iinproveiment Thank YOLI to the dedicated Gfs staff wlio have odapted so well to our new strotegy, bringing enthLlSiOSln and forward thinking to our planning. I would like to thank the execLltive teaim, in porticu5or, vvho hove been key to our decision-making progress, providing ample challenge, thought ond leodership to ensure we moke this journey together. We ore also grotefLII for pro bono SLipport f rom Deloitte, who hove helped challenge and shape OLir strotegy tlirougli cor)SLiltoncy. Over the year, we were deliglited to SLipport schools and trLlSts in secLiring over two thoLisand oppointinents to tlieir goveriionce boards. We maintained cn importont level of diversity in OLir recruits, witli over 400h being Linder 3J. and 37Wo from o globol Imaiority bockgi-OLind EnsLiring bocjrds liave diversity in skillset, perspective, and experience continues to be key to oiir Irission. In Septeinber we set LIP OLir Chair RecrLlltment offering to sit olongside OLir growing Trustee Recruitment Service. The Imove was immediately popular with boords across the COLintry While we still odvocote for succession planning being the optimum source of clioirs, we recognise tliat soimetimes it IS |LlSt not pos.sible to find tlie riglit person from within. In tliose cases, o dedicoted seorcli is needed to bring tlie required expertise to the table. We have continLied to listen to tlie sector, cjnd in response to focus groups and feedback liove estoblislied our Enhanced RecrLlitinent Service. Tlionk YOLI to everyone who contribLlted to tliose discLissions aiid lielped shope tlie development of our provision For schools In need of specifiG skills ond o bespoke liead hunt for their role, we now have a team ready to work with you to secure the right person for your board. We look forward to GontinLiing our work with schools and trusts, sourcing volunteers for the tliousonds of governing board voconcies across Englond and Wales. Finolly, ond most importantly, none of OLir work WOLild be possible witlioLlt tlie will ond dedicotion of the excellent volLlllteers we SOLirce. Thonk YOLI to everyone who Iios Lised our service to be appointed to a governiiig board, ond in particular to our partners wlio help us to engoge people wlio miglit not otlierwise consider the role. We look forward to continLiing QLir work with YOLI all in the coming yeor. Hannah Stolton CEO, Governors for Sck)ools Page 4
Annual Report 2023-24 GOVERNORS , SCHOOLS Testimonials '1 had a brilliant experience with Governors for Schools overoll. Becoming a School Governor has opened the doors for me to contribute directly to raising educational standards for pupils in the North East. l am able to give back to my local community in a meaningful and lasting wayi drawing on my background in finance to provide robust challenge to senior leadership and drive improvement in my school. Thunks to the support in the application process, I felt prepured for the role bef ore I started." George Gardner Governor, Silverdale School, PJorth Tyneside "I have found working with Governors for Schools to be fantastic overall. I huve already recommended it to many others, and some have gone on to use Gfs and have been matched to a school themselves." Florence Pritchett Governor, Eostlands Primary School, Rugby "It was an amozing experience all round becoming a governor through Gfs. I discovered it via LSE alumni communications, and thought it would be a good fit based on my degrees and professional background. l am happy to be able to volunteer in this wayp and to give back to my local community. Limara Malouangout Governor, Heavers Farm Primary School. Croydon ééusing the service has been very straightforward, and the support from our contact has been excellent. We are delighted with the candidate put forward by Governors for Schools. We will definitely use the service again. The volunteer has substantial experience in areas that will undoubtedly benefit the school, and has been very enthusiastic & flexible in making time to meet us und get to know the school. We very much look forward to working with them." Mark Frost Chair of Governors, Anderton Primory School, Lancs Ul have sourced more than one Governor through you at Governors for Schools - they have always been high quality und committed individuals that have made a real difference to our Board.11 Sally Judge Headteocher, Delamere School, Troff ord Page 5
Annual Report 2023-24: GOVERNORS SCHOOLS Key achievements of the year We supported... An average of 216 appointments in each COGS region 60 % of our volunteers to be appointed in primaryg and 230h in secondary schools 24% more volunteers from our corporate partners into school governance positions 14 volunteers directly into Chair of Governors roles We launched.. Our highly popular hair er itment Service Our STEM programme overnor New eLearning resources to support MAT Trustees - Becoming a Trustee and the First 100 days as a Trustee Our Inclusive Governance campaign, highlighting inclusivity across all governance responsibilities Our innovative Pathway to Governance programme designed to inspire more people from underrepresented backgrounds into school governor roles Page 6
Annual Report 2023-24 GOVERNORS , SCHOOLS Our work on the Trustee Recruitment Service (TRS) During 2023~24, the Trustee Recruitment Service delivery gothered pace, with successes arising f ollowing the appointment of key Portnership Managers within the team. This meant that by the middle of the year, we had an oppropriate level of resource to meet the growing need ond demand from the sector, leading to almost a third of appointments being secured in the lost 2 montk)s of the year. Across the year., 110 vacancies were registered with the service, with a good spread across England and including trusts of varied ethos. size. and demography. It took. on average, 71 days for each vacancy to have o fully vetted prospective trustee introduced. The service has seen repeat activity with trusts, reflecting high levels of satisfaction with our work. 286 prospective trustees applied and were ossessed for suitubility for the role. 35 trustees were appointed, with many more under consideration with trusts moving into 2024-25. We worked closely with the Confederation of School Trusts ICSTI on two premium pieces of eLearning content, designed to f urnish volunteers with the requisite knowledge and oworeness of the role bef ore registering I'Becoming a Trustee'l, and to equip them as they take on the role I'The First 100 Days as a Trustee'l TRS has partnered with a number of organisations to increase exposure in the sector, includir)g the Multl Academy Trust Association (MATAI and CST, as well as regular attendance at the MAT Governance Group - a quarterly meeting of governance leads from some of the largest trusts in the country. TRS undertook a signif icant amount of output f or Trustee Week in November 2023, including advertising presence in Schools week's online edition. The decision by Gfs not to submit a bid f or the Df E contract for delivery of academy trust recruitment services was taken in order to allow continued f ocus on service development and evolution. TRUSTEE RECRUITMENT SERVICE GOVERNORS SCHOOLS Page 7
Annual Report 2023-24, GOVERNORS FQ SCHOOLS Our work on the Chair Recruitment Service (CRS) In Septeimber 2023, we laLincliecl OLir Clioir Recruitment Service Tlie service provides a dedicated, prooctive opproacli to recrLllting choirs of governors to governing lJoords. Lots of scliools were quick to sign up, validoting OLir view that there is a real need for tlie service Iii tlie sector. Seven Imontlis on, we are already Inoking plans to increase capocity witliin tlie teoiii to Imeet deimand Since tlie service IoLinclied. 720h of roles registered with the service have either been filled by Governors for Schools, or are at the meeting stage with schools. 800/0 of the volunteers placed into Chair roles through the service were sourced through headhunting activities carried out by our dedicated recruitment team. We know thot this proactive approocli to recruiting clioirs of governors is highly effective and ollows LIS to find higlily skilled aiid quolified condidotes to step into tliese vitol roles We've received soime great feedback from schools who liave used t5ie service including.. Iwe were recommended by CST to approach Governors For Schools to help with our recruitment process for new Chairs. Following a conversation, we then commissioned Governors for Schools to recruit to 5 Chair roles across Nottingham and Derby. I have been really impressed by the level of prompt communication in terms of keeping us up-to-date with potential candidates. as well as the calibre of candidates that has been sent to us. For each school we have received two potential new Chairs and we have so far appointed 4 new Chairs with our final school hoping to make a decision shortly. We were informed thot we should expect the process for recruiting 5 Chairs to take at least a year, but happily this has only taken just over 2 terms: The time this has saved us from having to do our own recruitment has been invaluable and I would definitely recommend this service to any school or Trust that is looking to recruit new Chairs. Thank you to the team at Governors for Schools., Transform Trust We've set challenging targets for 202412J wliich will see us increase oworeness of tlie service across trLlSts and LAS, os well as registering more roles. Tliis will enable LIS to place Inore clioirs on boards cjcross Englond. We look forward to continLiing to bLiild on the successes of tlie programme, to ensLire it can continue to support schools where succession plonning has not yielded new chairs. CHAIR RECRUITMENT SERVICE GOVERNORS SCHOOLS Page 8
Annual Report 2023-24 GOVERNORS ., SCHOOLS Our work to improve diverse representation Over the past year, we have made it a key priority to diversify representation on governing boards. Our Inclusive Governance campoign hos been at the f oref ront of this effort, with a wide ronge of resources aiming to inspire typically underrepresented groups to volunteer. 593 applicants ref erenced the campaign as motivating them to apply. Our belief that sck)ools and trusts should ensure diversity of skills, backgrounds ond experiences on their boards was also captured os one of our key aspirotions for the governance sector. With that in mind, we closely monitor data about our volunteers to guide our diversity eff orts. For data collection around ethnicity, we follow government guidelines and include 'White, other, as a category on our monitoring forms to ensure our findings ore accurate. Over the past year, our placed volunteers were: 510/0 White British 21Vo AsianlAsian British 110/0 BlacklAf riconlCaribbeonlBlack British 90/0 White Other 5 % other or Undefined 30/0 from a Mixed Ethnic Background 101 2% 12% Ethnl¢lty breakdown of our 2.142 pp•lntmfrnts Whlt• Brltlsh 19 Ailanl 54% We also started to capture the sexual orientation of placed volunteers in 2023-24, as part of our monitoring. They identif led as follows. othtltt• 2%
ihrAc
9•h 849/0 Heterosexuallstraight 3Q/o Bisexual 40/0 Gay Male 1% Gay Female 80/0 declined to say GOVERNORS .SCHOOLS 10% 18 to 24 55 to04 While we're delighted at the diversity of our governance volunteers, there is always more to be done to ensure a range of perspectives are represented on governing boards. 4$t•64 Age broakdown of our 2.143 pp•Intmtl "25 t•34 34% 65+ 4% We're continuing to work towards increasing recruitment among underrepresented groups through our work with partners, professional networks, ar)d community groups. 36to44 30% GOVERNORS .SCHOOLS Page 9
Annual Report 2023-24 GOVERNORS SCHOOLS The year ahead In 2024-25, we plan to Continue to place over 2000 volunteers into school governance positions Fully launch our new Enhanced Recruitment Service to provide more bespoke support to those in need Build on the impact of our corporate partnerships Keep growing our sources of income to sustain our work Further develop our website and technology to keep improving user experience Continue to invest in oll our recruitment streams to best serve the sector uaooo Continue to run our campaigns and engagement events to support the sector, and introduce governance roles to more individuals Page 10
Annual Report 2023-24 GOVERNORS SCHOOLS Supporters The chority is fortunote to work with a wide range of portners, without whom our work would not be possible. Through these partnerships, we are able to extend our reach ond f urther strengthen and diversify school governance. Thank you to all of the partners we have worked with this year, including, Deutsche Bank BANKOF ENGLAND AtklnsRéalls Deloitte. EhrJ.1)QliJI ali¢ Tth09y NetbvorkRail A&0 SHEARMAN Admiral GOVERNORS FOR SCHOOLS I'll//z HERBERT SMITH -.ii,iiIX- FREEHILLS overnorHub Knowledge BARCL4YS LLOYDS BANKING GROUP CARDIFF UNIVERSITY amazon PRIFYSGOL CAERDYtfy) pwc RIDGE | Ll Pinsent Masons Swansea University Prifysgol Abertawe CRONFA GYMUNEDOL COMMUNITY FUND Page 11
Annual Report 2023-24 GOVERNORS vo SCHOOLS Corporate partnerships In JanLiary 2024, we releosed OLir aspirations for tlie governonce sector. OLir fifth cspirotion is thot oll eiiiployei-s slioLilcl i-ecognise the volLie of tlieir eniployees volunteering in scliool governonce roles ond SLipport their to do so, creating volLioble links between schools ond indLlStry. Tliese aspirotions were portly inspired by pro bono work undertoken by FTI ConsLilting on our five yeor iimpoct report for which we ore very gratefLII We are deliglited to liove iiiade strong strides towords tliis over the past yeor, witli OLir corporate partners playing an increasingly Integral role in the work tlie cliarity does. In 2023-24, we savv 331 volunteers from OLir corporote partners appointed into school governance roles, whicli is a 24 % increose on the previous year. Over two years, we have seen 0 570k rise in the nuiT)ber of volunteers appointed throLigli these partnerships, ref lecting the growing populority of scliool governance as o skilled volunteering opportLinity. Working witli corporate portners offords LIS excellent opportLinities to recrLlIt volunteers wlio differ f rom tlie majority of tliose serving in governonce roles. Across 2023-24. 55Yo of appointed volunteers were under the age of 35 430/0 came from a global majority background, with a further 9% being non-white British The chority lounched SLiccessfLII new relationsliips with Amozon, IG Group, Network Roil, and Ridge ond Partners over tlie post yeor, witli a nuimber of exciting portnerships set to louncli in the montlis alieod. OLir work witli AtkinsReolis, cliompioning tlie STEM Governor role, lios been o big feature of OLif SLiccess tliis yeor, seeing Imore employers signing up to enoble their people to toke on strategic positions in schools. Tliese volLinteers lielp build links with busir)ess to inspire young people to consider careers witliin the STEM industries, and in doing so help safeguord the future skills needs of the sector. The chority is also thankful for other SLipport provided by partners including sponsorship, the cliompioning of our work witliin tlieir owr) professionol networks, ond pro bono strotegic consLiltoncy lin tlie case of Deloitte) "I work closely with our account manager. They are very knowledgeable and constantly share new opportunities we can get involved in. Governors for Schools are doing on incredible job with creating new pathways to step into governance roles. l am purticularly pleased we have managed to recruit so many junior members of the company. Paula Rocque, KPMG Page 12
Annual Report 2023-24 GOVERNORS SCHOOLS Pathway to Governance We are pleased to have fully launched our CPD-accredited Pathway to Governance programme in 2024, following a successf ul pilot lost yeor. The charity is currently running the programme in partnership with Kings College London, the Sutton Trust, Amazon, and Camden Learning, ond looks forward to launching f urther cohorts in the months ahead. Governors for Schools believes that strong governance requires a diverse ronge of perspectives and experiences. Those aged 30 or under moke up only 3 % of all school governors, meaning younger voices are largely missing f rom boards. With over 20,000 vaconcies in England olone, there is o huge missed opportunity to add passionate and knowledgeable perspectives to boards across the country. Pathwoy to Governonce oims to f ulf il this need by providing an immersive learning experience designed to educate and inspire potential governors f rom underrepresented backgrounds. Over a period of two months, participants learn about becoming an effective governor and goin practical experience in mock governing board meetings. Following completion of the progromme, they are given tailored support to opply via our service and be appointed into schools in their local communities. The charity looks forward to seeing the programme grow across the year ohead. eLearning Short reglstration of interest LEABNINa Prioritised placement* APPLY Mock board meeting Information session Pre- 1.1 call to support application programme survey Post-programme survey Page 13
Annual Report 2023-24, GOVERNORS ott SCHOOLS Training To lielp support ocodemy trLlStees in preporing for tlieir governonce roles, we introduced some iiew odditions to OLlI- eLeariiiiig portfolio In 2023-24. Developed in colloborotion with the Confederotion of Scliool TrLlSts ICSTI we IoLinched. Becoming a Trustee The first 100 days as a trustee module Tliese offeriiigs liave l)een well received by tlie sectoi-, ond lielp ensLire academy trustees stort their roles eqLiippecl with key inf orimation tliat will SLipport them tliroLighout tliei r iourney Similarly, we liave continLied to update the comprehensive Become on Effective New Governor series to reflect the most recent sector updates for governors who ore new to tlie role. The resoLirce continLies to grow in POPLilarity ond is ovoilcjble for purchase on OLir website. We believe all governors neecl occess to Q qLiality Induction, ond this resoLirce enobles us to SLipport schools ond trLlSts In providing this. OLir ever-POPLilar webinar series, delivered by Better Governor, lias continLied to be SLiccessfLII this yeor. We ore gratefLII to Imootliwoll for their sponsorsliip in 2023-24, Imoking the series f reely uccessible to all. This yeor, the webinars liave beeii wotclied by more thon 4,000 people. '1 always find these webinars really useful as they provide up-to-date, pertinent information in a very clear, succinct way. They alvways lead me to thinking about areas to follow up in school to continue to improve our practice and effectiveness. Thank you!IP Webinar attendee Conference Our online conference continued to grow in POPLilority in 2023. Taking ploce over two doys, Governors for Schools wcjs deliglited thot the Institute f Physics, IIOPI Limit Les campaign sponsored the event. Over 4,000 governors ond sector professionols joined the sessions in live time or watclied tlie recordings on YoLITLibe. Neorly 50 expert speakers f rom o variety of orgonisations helped tlie conference sessions Inointain their excellent stondords froin previous yeors, wit5i an overage roting of 4.3 out of J. "Very comprehensive and accessible. Ansvvers to the questions were spot on." IIExcellent contributions f rom the panel, well chosen to represent each sector. This remains a challenge in my setting but the discussion inspired me to keep trying. Page 14
Annual Report 2023-24 GOVERNORS SCHOOLS Working in collaboration with the sector Over the past year, we have continued to actively collaborate with a wide range of organisations within the education and charity sectors. Our aspirotions outline the impact we want to have on education governance, and our collaborative ethos is key to achieving them. We have long-standing relationships with other governonce orgonisations including GovernorHub, Better Governor and Strictly Education. These continued to grow f rom strength to strength across 2023-24, ond we are excited to see what we can achieve together in the next twelve months. We ore gratef ul f or the many ways in which partner organisations have supported our Inclusive Governance compaign. For example, we teamed up with the Bell Foundation for a populor webinar on how school governors can best support children who use English as an Additional Language. Some highlights of our collaborotive work in 2023-24. A highly successful National School Governors, Awareness Day held in partnership with Strictly Education Our annual conference bringing together speakers from 34 different organisations The many governance volunteers and organisations that supported our Inclusive Governance campaign Our work with the Conf ederation of School Trusts to develop high quality induction support for newly appointed trustees We look forward to continuing to build on these relationships, and creating more, in the year ahead. Page 15
Annual Report 2023-24 GOVERNORS "l.FOH SCHOOLS Objectives We focilitate the recrLlitment and placement of people with business and manogemeiit skills who are willing to act as governors and trustees with the oim of strengthening the goveriiing boards of schools and mLilti academy trusts. We believe tliis Is of benef it to the PLiblic throLigh the advancement of edLlCQtion by making available odvice and assistance to all schools. The compony reviews its aims, objectives and activities each year ensuring tliey I"emaiii focused on the stated PLlI-pose of tlie charity The TrLlStees refer to the giiidonce giveii by the Cliarity Commission or) public benefit during this process arid assess liow successful each octivity has been and what benef its have been brought to the groups of people the charity is set up to help. Good Governance The trLlStees meet qLi0rterly to monitor progress and to make decisions concerning the strategic direction of the charity The Chief Executive attends all board Ineetings. The board approves the annual Business Plan and detailed budget. The staff of Goveriiors for Schools are outhorised to work within the f ramework of tlie Busiiiess Plon aiid bLidget under the direction of the Chief Executive. The trustees receive reports f rom the Chief ExecLltive, comprising financial, stotistical and other information to enable them to measure the company's performonce agaiiist budget, targets and objectives for the year. New trustees ore recruited to the board as required in order to ensure thot the board membersliip hos the proper range of skills and competencies. A skills aLidit is undertoken regLilarly to identify gaps iii expertise. None of the trustees receive remuneration or other benef it from their work with tlie cliority Any coniiectioii between a trustee or senior manager of the charity mLlSt be disclosed to the full board of trustees. In the CLirrent year no such related party transactions were reported, other than as disclosed in the notes to the accounts. Reserve policy The trLlStees' CLirrent policy is to hold SLif ficient reserves to provide working capitol to meet conti-acted commitmeiits, 3 months operoting costs, and on organised winding down of the compaiiy should this ever be required. These reserves ore ref lected in the designated reserve f und shown in the occouiits. Donotioiis f rom supporting organisations ore sought early in the fiiiancial year to provide working capital for the year ahead. Reserves at the end of the year consisted of Restricted Fund £5,000,. Eiesignated Fixed Asset Fund (to be matched against future depreciation charges) £14,176, Designated Reserve Fund £215,000,. and Unrestricted Funds of £111,972. Page 16
Annual Report 2023-24 GOVERNORS FC SCHOOLS Risk management The Company has o comprehensive on-going and up-to-dote risk register. The boord takes direct responsibility for management of risk in two business critical areas,. these areas are cessation or reduction of funding and the performance of the Chief Executive. The other risks ore designated as operational and the Chief Executive is responsible for monitoring changes and alerting the board. Trustees. responsibilities The trustees (who are also directors of Governors for Schools for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the f inancial statements in accordonce with opplicable law aiid United Kingdom Accounting Standards (United Kiiigdom Generally Accepted Accounting Proctice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financiol stotements unless they are satisfied that they 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 choritoble company for that period. In preparing these f inancial statements, the trustees are required to.. Select suitable accounting policies and apply them consistently Observe the methods and principles in the Charities SORP Make judgments and estimates that are reosonoble and prudent State whether applicable accounting standards have been followed, subject to ony departures disclosed and explained in the financial statements Prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business The trustees are responsible f or maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small Company Provision This report has been prepared in accordance with the provisions applicable to componies entitled to the small companies, exemption. The Report of the Trustees, wos ,£i,i//l ned on behalf of the board of directors By Dominic McGonigal Chair of Trustees Page 17
GOVERNORS FOR SCHOOLS Independent Auditor's Report to the Members of Govemors for Schools Year ended 31 March 2024 Opinion We have audited the financial statements of Governors for Schools (the 'charily') for the year ended 31 March 2024 which comprise the statement of financial activitie5 (including income and expenditure account), statement of financial position, statement of cash fEows and the related notes, 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 FRS 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 charily's affairs as at 31 March 2024 and of its incoming reSoUrS and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice-, have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducled 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 charily 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 the provisions available for small entities, in the circumstances set out in note 25 to the financial statements, and we have fulfilled our other ethical responsibililies 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 trustees, use of the going concern basis of accounting in the preparation of the financial slatements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling to events or conditions that, individually or collectively, may cast significant doubt on the charity'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. 18
GOVERNORS FOR SCHOOLS Independent Auditor's Report to the Trustees of Governors for Schools (conllnued) Year ended 31 March 2024 Other inforniation 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. Our opinion on the financial statements does nol cover the other information and, except to the extent OtheISe explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial stalements or a material misstatement of the other information. 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. We have nothing to report in this regard. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Charities Acl 2011 requires us to report to you if, in our opinion.. the information given in the trustees, report is inconsistent in any material respect with the financial statements,. or adequate accounting records have not been kept., or the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied thal they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity'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 charity or to cease operations, or have no realistic alternative but to do so. 19
GOVERNORS FOR SCHOOLS Independent Auditor's Report to the Trustees of Governors for Schools (¢ontinued) Year ended 31 March 2024 Auditorfs responsibilities for the audit of the 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 detecl a material misstatement when il exists. Misstatements can arise from fraud or error and are considered malerial 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. 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 misstalements in respect of irregularities, including fraud. The extent to which our piocedures are capable of detecting irregularities, including fraud is detailed below= Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulalions; we identified the laws and regulations applicable lo the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector., we focused on specific laws and regulations which we considered May have a direct material effect on the financial statements or the operations of the company., we assessed the extent of compliance with the laws and regulations through making enquiries of management and inspecting legal correspondence- and identified laws and regulation5 were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misslatemenl, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud,. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls. we: performed analytical procedures to identify any unusual or unexpected relationships., tested journal entries to identify unusual transactions- assessed whetherjudgements and assumptions made in determining the accounting estimates were indicative of potential bias., and investigated the rationale behind significant or unusual transactions. 20
GOVERNORS FOR SCHOOLS Independent Auditorfs Report to the Trustees of Governors for Schools (Continued) Year ended 31 March 2024 In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statement disclosures to underlying sUPPOrting documentation., reading the minutes of meetings of those charged with governance; enquiring of management as to actual and potential litigation and claims., and reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inhererbt limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. As part of an audit in accordance with ISAS {UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not forthe purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness ofthe trustees, use ofthe going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 21
GOVERNORS FOR SCHOOLS Independent Auditor's Report to the Trustees of Governors for Schools (continued) Year ended 31 March 2024 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of Ihe audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. AGP Chartered Accountants are eligible to act as an auditor in terms of section 1212 of the Companies Act 20C6. Use of our report This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those malters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. AGP Chartered Accountant5 & statutory auditor Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH 2 1 IlJivLO16c-R .2024 22
GOVERNORS FOR SCHOOLS STA TEMENT OF FINANCIAL ACTIYJTIES For the year ended 31" March 2024 Note Restrieted Funds Total Funds 202312024 Total Funds 202212023 Restricted Funds Income Income from Charitable Activities: Donations Grants Investmeiit Income Chargeable Services Other Total Income 105,747 900,000 5,033 283,493 20,000 125,747 900,000 5,033 283,493 821,302 414 145,731 1,294,273 20,000 1,314,273 967,447 Expenditure Expenditure on Charitable Activities: Raising funds Recruiting & Placement of School Govemors Chargeable Services Total Expenditure 230 976,484 230 998,167 21,683 973,544 310,050 1,286,764 310,050 1,308,447 127,608 1,101,152 21,683 Net (Expenditure) I Income for the Year Before Transfers Traiisfers between Fwids.. 7,509 (1,683) 5,826 (133,705) Net (Expenditure) I Income for the Year 7,509 (1,683) 5,826 (133,705) Other Recognised Gains and L05se5 Net Movement in Funds 7,509 1,683) 5.826 (133,705) Reconciliation of Funds Balances brought fonvard at I Apiil 2023 333,639 6,683 340,322 474,027 Balances Carried forivard at 31 March 2024 341,148 5,000 346,148 340,322 The statement of financial activities includes all gain5 and losses and losses recognised in the year. All income and expenditure derives from continuing activitics. 23
GOVERNORS FOR SCHOOLS INCOME & EXPENDITURE For the year ended 31" March 2024 TOTAL 202312024 TOTAL 202212023 Note Income Otlier Restricted Donations Unrestricted Grants Unrestricted Otlier Unrestricted 20,000 105,747 900,000 288,526 1,314,273 118,062 703,240 146,145 967,447 Total Income Expenditure Salaries Other Operational Charges Depreciation 1,063.431 234,839 10,177 1,308,447 872,097 218,146 10,909 1,101,152 10 Total Expenditure Surplus of expenditure over income 5,826 (133,705) Net Transfer tolfrom Funds Restricted fund Designated Fixed Asset Fund Designated Reserve Fund Unrestricted Fund (1,683) (888) 6,683 553 8,397 5,826 140,941 133,705 24
GOVERNORS FOR SCHOOLS STATEMEIYT OF FINANCIAL POSITION As at 31" March 2024 Note 202312024 202212023 Fixed Assets Tangible fixed assets 10 14,176 15,064 Current Assets Debtors & Prepayments Cash at bank and in hand 11 96,770 366,682 463,452 53,136 374,843 427,979 Liabilities Creditors falling due within oiie year 12 131,480 102,721 Net Current Assets 331,972 325,258 Total Assets less Current Liabilities 346,148 340,322 Net Assets 346,148 340 322 Funds Restricted Fund Designated Fixed Ass¢t Fund Designated Reserve Fund Unrestricted Fund 13 5,000 14,176 215,000 111,972 346,148 6,683 15,064 215,000 103,575 340,322 For the ycar ending 31 Marcli 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. Th¢ members have not required the company to obtain an audit of its financial statements for the year in question iii accordance with section 476. The directors acknowledge theii responsibilities for complying with the requirements of thc Act with respect to accounting records and the preparation of financial stat¢mentS. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small compaiii¢s' regim¢. ese finan al statements were approved by the board of trustees and authoris¢d for issue on and are signed on altTryf the board by.. IC MCGONIG IR 25
GOVERNORS FOR SCHOOLS STATEMEIYT OF CASH FLOWS As at 31" March 2024 202312024 202212023 Cash flows from operating activities Net incoine 5,826 (133,705) Adjiistn?eiils.for.' Depreciation aiid impainrjent of tangible fixed assets Otlier interest receivable aiid similar iiicome Accrued (income)/expeiises 10,177 (5,0_3_3) 5,805 11,591 (414) 27,527 Changes in.. Trade and other debtors Trade and other creditors (43,634) 22,954 6,255 2,923 Cash generated from operatioiis (3905) (85.823) Interest received 5,033 414 Net cash (used in}/from operating activities 1,128 (85,409) Cash flows from investing activities Purchase of tangible assets (9,289) (12.145) Net cash used in investing activities (9,289) (12,145) Net (decrease)lincrease in cash and cash equivalents Cash and cash equivalents at beginning of year (8,161) 374,843 (97,554) 472.397 Cash and cash equivalents at end of year 366,682 374,843 26
GOVERNORS FOR SCHOOLS NOTES TO THE ACCOUNrs General information The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Sycamore House, Sutton Quays Business Park, Sutton Weaver, Runcorn, Cheshire, WA7 3EH. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reportiiig Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK ]d Republic of Ereland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting Policies Basis of preparation The financial statements have been prepaTed on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the nCtIOnal currency of the entity. Going concern There are no material unccrtainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires maiiageinent to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based oil experiejice and other factors, including expectations of future events that are believed to be reasonable under the circumstance5. Fund Accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectiv¢s of the charity. Designated funds are unrestricted funds earniarked for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor. 27
NOTES TO THE ACCOUNTS (Continued) Recognition of Income All incoming resources are incliided in ilie statement of fiiiancial activities wlien the charity IS entitled to the income and tlie ainount can be quantified with reasoiiable accuracy. Encoming resources received for specific pUoseS are incliided in the statement of financial activities. The balance of incoine received for speciflc pUoseS but not matched to relevant expenditure during the period is shown in ilie Restricted Income Fund and Balance Sheet. Income from cliaritable activities aiid donations is received by way of grants, sponsorship and doiiations and is included iii full iii the Statement of Financial Activities when receivable. Grants. where entitleineiit is not coiiditional on the delivery of a specifi performance by tlie charity, are recognised when the cliarity becomes unconditionally entitled to tlie grant. Intangible income represents services aiid facilities donated by third parties and is included at the value to Governors for Schools where this can be quantified by the Board and where provided at a cost to the third party. Expenditure All payments ar¢ recognised in tlie accounts in the year to which tliey relate. Expenditure is recognised on an accruals basis as a liability is incurred. Charitable expenditure comprises those costs incurred by the charity in tlie delivery of its activities. It iiicludes hoth costs that can be allocated directly to such activities and those cosls of an indirect nature Iiecessary lo support tliem. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic mana&Fement of the charity. All costs are allocated between tlie expenditure categorie5 of tlie SOFA on a basis designed to reflect the use of tlie resource. Costs relating to a particular activity are allocated directly. others are apportioned on an appropriate basis. Chargeable Services Where chargeable services relate to a specific period, income i.s recognised on a monthly basis with the balance Ireated as deferred iiicovne. Chargeable services income is shown net of VAT. Costs are allocated montlily against annual fees to cover delivery resource, with cost apportionment lating to direct salary costs incurred and the direct operational costs of service delivery. Fixed Assets and Depreciation Purchases are capitalised where the expected useful life of th¢ items exceed one year and wher¢ tlie cost of acquisition exceed5 £500 including VAT. Assets are depreciated over their expected useful life by the straiglil line metliod. The classes and standard asset lives are reviewed ai]nually. The depreciation rates applied to the inain categories of assets are as follows: Class of Asset Standard Useful Life Computer Equipment & Furniture 3 years 28
GOVERNORS FOR SCHOOLS NOTES TO THE ACCOUNTS (Continued) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discounl offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. 3.10 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of ndS to a third party and the amount due to settle the obligation can be measured or estiinated reliably. Creditors and provisions are normally recognised ai iheir settlement amount after allowing for any trade discounts due. 3.11 Taxation The company is a registered cliarity and as such is exempl from Income and Corporation taxes under the provision of the Income and Coryoration Taxes Act 1988. Tlie cost of Value Added Tax incurTed by th¢ company has been included in the Income and Expenditure Account. 3.12 Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the carying value at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using tlie effective interest method. 3.13 Pensions Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that th¢ prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees r¢nder the related service. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. 3.14 Operating lease agreements Kentals applicabl¢ to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. Limited by guarantee The company is limited by guarantee and does not have a share capital. The liability of the members is limited in the event of the company being wound up to such amount as may be required not exceeding one pound. 29
GOVERNORS FOR SCHOOLS NOTES TO THE ACCOUNTS (Continued) Donations 202312024 202212023 80=20 Charitable Trust 687,312 Allen & Overy Allen & Overy Foundatioii Teiizing Amazon Smile 10,500 5,000 50,000 50,000 29 39 Frances Jacob 48,000 243 48,000 366 JustGiving Smoothwall Ltd 3.000 GovernorHub 10,000 10,000 Jack Petcliey Foundation IET 2,000 2,800 Deloitte 1,575 Hoddesdon 260 Cliarities Trust 200 National Lottery Coinmunity CAST 5,250 5,000 Benevity Amazon 190 2,085 100 School% Support Services Services for Schools 100 Institute of Physics 5,000 125,747 821,302 Grants 202312024 202212023 80..20 Charitable Trust 900,000 900,000 Investment Income 202312024 202212023 Bank Interest 5,033 414 5,033 414 30
GOVERNORS FOR SCHOOLS NOTES TO THE ACCOUNTS (Continued) Charitable Activities 202312024 202212023 Marketing Business Development Impact aiid Governor Support Website & Database Salaries & Expenses Administration Occupancy Costs Depreciation Offic¢ Equipment Legal & Professional 18,782 16,090 13,558 59,318 829,806 32,599 4,707 10,177 2,587 5,023 992,647 23,999 1,720 61,181 50,219 788,584 2,786 23,555 10,909 1,278 4,033 968,264 Governance Costs Auditors, Remuneration - Audit Fee 5,520 5,520 5,280 5,280 Chargeable Services Costs Salaries & Expenses Operational costs 264,539 45,511 310,050 108,948 18,660 127,608 Remuneration The Board Chairnian & Directors The Chairn]an & Directors did not receive any remuneration for their services. No expenses were paid during the year. Employees Analysis of Employees Average Number Of Employees 202312024 Average Number Of Employees 202212023 Category of Employment Chief Executive Administration Delivery & Impact 27 32 23 26 31
GOVERNORS FOR SCHOOLS NOTES TO THE ACCOUNTS (Continued) Analysis of Staff Cost5 Total staff costs for the year were Salaries Total 202312024 Total 202212023 Salaries Einployer's Pension Employer's NIC 947.777 26,580 89,074 1,063,431 775,034 21,955 75,108 872,097 The amount recognised in the Statement of Financial Activities as an expense in relation to defined contributioii pension plans was £26,580 The number of employees whose emoluments (salaries, wages and benefits in kind) fell within the following band= 202312024 £'ooo 202212023 £'ooo £70,000 - £79,999 £80,000 - £89,999 During the year pe115ioii contributions of £7,060 weiE paid for tliis inember of staff. io Fixed Assets Analysis of Fixed Assets Computers & Furniture Total 202312024 Total 202212023 Cost as at l April 2023 Purchased iii year Disposal of equipment Cost as at 31, March 2024 56,683 9,289 56,683 9,289 84.754 12.145 (40,216) 56,683 65,972 Depreciation as at l April 2023 Charge for th¢ year Depreciation on Disposal as at 3 1st March 2024 41,619 10,177 41,619 10.177 70,243 10,909 (39,533 41,619 Net Book Value as at l April 2023 as at 3 1st March 2024 15,064 14,176 15.064 14,176 14,511 15,064 32
GOVERNORS FOR SCHOOLS NOTES TO THE ACCOUNTS (Contlnued) 11 Assets Debtors & Prepayments Total 202312024 Total 202212023 Trade Debtors Prepayments 55.230 41.540 96,77 29,210 23,926 53,136 12 Liabllities Creditors falling due wlthin one year Total 202312024 Total 202212023 Creditors Accruals and Deferred Income Taxation 17,211 97,230 17,039 131,480 4,990 91,425 6,306 102,721 Where chargeable services relate to a specific period, income is recognised on a monthly basis with the balance treated as deferred income. Total 202312024 Total 202212023 Deferred income brought fonvard Released from tlie prior year Deferred in the current year Deferred income carried forward 85,633 (85,633) 91,470 91,470 54,389 (54,389) 85.633 85.633 13 Restricted Funds Balance 202212023 Incoming Expenditure, Gains, Losses & Transfer Total 202312024 Allen & Overy 2,501 2,501 Allen & Overy Foundation 5,000 5,000 Institute of Physics 5,000 5,000 National Lottery 4,182 4,182 GovernorHub i 0,000 10,000 6,683 20,000 33
GOVERNORS FOR SCHOOLS NOTES TO THE ACCOUNTS (Continued) Restriction Allen & Overy Foundation Restricted donation supportiiig a patliway to govemance coliort of Slltton Trust alumni. Institute of Physics Spoiisorship of tl)¢ Governors foi Schools conference held in September 2023. GovernorHub Restricted donation to support the delivery of tlie Govemors for Schools ' Inclusion, campaign launclied in September 2023. Allen & Overy Sponsorship of the Governors for Scliools 'Counting the cost, campaign running during Spring 2023. National Lottery Community Fund Restricted doiiation to support tlie organisations governor recruitment and placement work specifically in Wales. 14 Analysis of Net Assets Between Funds Unrestricted Funds Restricted Total 202312024 Tangible Fixed Assets Current Assets Liabilities 14.176 458,452 131,480 341,148 14,176 463.452 131,480 346 148 5,000 Unrestricted Funds Restricted Total 202212023 Tangible Fixed Assets Current Assets Liabilities 15,064 421,296 102,721 333 639 15,064 427,979 102.721 340,322 6,683 6,683 34
GOVERNORS FOR SCHOOLS IYOTES TO THE ACCOUNTS (Continued) 15 Related Party Transactions During the year the charity received donations totalling £900,000 from the 80..20 Charitable Trust which is exclusively funded by the Annitage family. Mr Ian Annitage is a Trustee of Governors for Schools. During the year, the charity received th¢ amount of £50,000 from Tenzing. This is for work undertaken by lan Annitage but his fees donated to the charity. During the year, the charity received donations totalling £ l 0,000 from GovernorHub. lan Annitage is a director and shareholder of The Key Services Ltd, who own/control GovernorHub. Governors for Schools Trustee Neil Collins was a director of Ortoo Technologies (GovernorHub) until the company was dissolved in May 2023. Neil Collins is now an employee and shareholder of The Key Services Ltd, who ownlcontrol GovernorHub. During the year, the charity received donations totalling £5,000 during the year from the Allen & Overy (Foundation), a company in which Trustee Jane Higgins is a Partner. Th¢ charity also received payment of £3,465 for services. During the year, th¢ charity received payment of £11,550 for services from Lloyds Banking Group, a company in whicli Trustee David Rowsell is an employee. During the year, the charity received payment of £3,564 for services from Weslcyan Assurance, a company in which Trustee Adrian McLean is a member of the members advisory board. No further transactions with related parties were undertaken such as arc required to be disclosed. 35
GOVERNORS FO .SCHOOLS Visit our website: www.governorsforschools.org.uk Follow us on socials.. @SchoolGovNet @governorsforschools Governors for Schools is the legal entity for different recruitment services and is a registered charity in England and woles No. 1078330