2023-08-31-accounts

Charity Registration No. 1107640

Company Registration No. 05303883 (England and Wales)

CONFEDERATION OF SCHOOL TRUSTS

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees and Directors Sir Hamid Patel CBE Chair Roy Blackwell Vice Chair Jacqueline Russell Chair - Finance Susan Douglas CBE Lorrayne Hughes Stephen Snelson Luke Sparkes Pamela Tuckett Edward Vainker OBE Pamela Wright OBE Leadership Group Confederation of School Trusts Leora Cruddas Chief Executive Officer Stephen Rollett Deputy Chief Executive Officer Clare Robson-Farrelly Chief Operating Officer & Company Secretary Gary Howard Chief Financial Officer Samuel Skerritt Director of Public Affairs and Policy Samira Sadeghi Director of Trust Governance CST Professional Development Limited Charis Evans Managing Director

National Teacher Accreditation Caroline Whitty Executive Director Charity number 1107640 Company number 05303883 Principal address and registered office Suite 1, Whiteley Mill Offices 39 Nottingham Road Stapleford Nottingham NG9 8AD Auditor Dains Audit Limited 15 Colmore Row Birmingham B3 2BH Bankers Lloyds Bank Plc 70 —71 Cheapside London EC2V 6EN Virgin Money Business Direct 40 St Vincent PLace Glasgow G1 2HL Solicitors Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

CONTENTS

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Page| |Trustees'|Report|(including|Directors'|Report and|Strategic|Report)|1|-|4| |Statement|of Trustees'|Responsibilities|5| |Independent Auditor's|Report|6|-|8| |Consolidated|Statement|of|Financial|Activities|9|-|10| |Consolidated|and|Charitable|Company|Balance|Sheets|11| |Consolidated|Statement|of Cash|Flows|12| |Notes|to the|Financial|Statements|13|-|26|

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT AND STRATEGIC REPORT)

The Trustees present their report and consolidated financial statements for the year ended 31 August 2023,

The finanical statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charitable group's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Charitable object

The charitable object of the Confederation of School Trusts (CST) is to advance education in England and Wales.

Objectives, strategies and activities CST is the national organisation and sector body for School Trusts in England, advocating for, connecting and supporting executive and governance leaders. We have two wholly owned subsidiaries: CST Professional Development (our trading arm) and National Teacher Accreditation (the only national ‘Appropriate Body’ offering a service to all types of schools and trusts). The activities of the whole organisation including the subsidiaries are covered in this report. As a charity, CST membership is offered to all types of Schools and Trusts in England. School Trusts are themselves charitable trusts. CST believes that School Trusts hold trust on behalf of children. We support our members to advance education for the public interest. Key objectives and activities are identified in the strategic plan, informed by significant challenges and opportunities arising from national developments in education policy and funding.

Our charitable activities in 2022-23 have focused on:

• Developing sector-led capacity to support Schools and Trusts;

• • Developing and strengthening governance of school trusts to enhance their capacity to advance education as a public good; * Developing our commercial support offer to School Trusts to enable them to operate more effectively; * Working with government to inform national policy development to advance education; and

• Delivering an ‘Appropriate Body’ service to Schools and Trusts through National Teacher Accreditation.

We have also focused on reviewing our internal capacity, business processes and digital infrastructure in order to ensure an effective and efficient service to our members.

Public Benefit Statement The charity's purpose is help to build an excellent education system in England, through supporting School Trusts to advance education. In so doing, we aim to benefit the public in general and children and young people in particular. Our vision is a system that holds trust on behalf of children - one in which all children (regardless of perceived intelligence, need or economic background) achieve their potential. The trustees have paid due regard to the Charity Commission's public benefit guidance when exercising powers or duties and in deciding what activities the charity should undertake.

Achievements and performance

Since our launch as CST in October 2018, we have been actively shaping the education policy agenda and speaking on behalf of our members. Bringing together school trusts in England from every region and of every size, CST has a strong, strategic presence with access to government and policy makers to drive real change for education on the big issues that matter most.

We have grown considerably and as at end August 2023 we have two thirds (72%) of academy schools in membership — educating more than 3.1 million pupils. We would like to report our achievement with reference to our three strategic aims - to advocate for, connect and support School Trusts in England.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) ————————————————— TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)

—————————————————

• Advocacy: Special Educational Needs and Disability (SEND) Review - Invited to sit on the SEND and AP implementation board overseeing the implementation of the SEND reforms. - Convened a series of influential round tables to develop our 5 Principles for Inclusion.

• Regulation and Commissioning - Invited to sit on the DfE regulation and commissioning review advisory group and influenced the proposals in the report. - Published Building Strong Trusts and our Assurance Framework which is widely adopted in the sector.

• Trust Leadership Development - Developed, consulted on and published CEO Standards (Core Responsibilities of the Trust CEO). - Invited to sit on the DfE multi-academy trust leadership development offer expert advisory group. The content framework draws heavily on CST thought leadership.

• Trust-led Improvement - Launched an influential Inquiry on sector-led improvement with the intention of codifying Trust-led improvement.

• Academy Trust Governance Code - Convened and co-chaired the sector group which developed the Academy Trust Governance Code.

• Connecting School Trusts to each other and to Government, Regulators and Policy Makers: Connecting our members to Government, Regulators and Policy Makers - 12,052 trust leaders connecting with CST - Roundtables with the Ministers. - Seminars with Shadow Education Ministers.

• Connecting our members to each other - Wednesday morning open forum enabling CST members to speak directly to CST and each other in a confidential forum as part of an ‘agile’ response to live policy issues.

• • 4,270 professional community members registered across ten professional communities.

• Connecting our members to what they need to know - 131 morning briefings (3 times per week during term time) making sure our members had the information they needed and getting answers for them where they didn't.

• • Published a comprehensive national survey of Trust CEOs.

• Supporting School Trusts: Trusted Professional Development - 2,573 training and events delegates.

• Specialist Consultancy Service for Trusts - A confidential and quality-assured expert consultancy service run by specialists in Academy and Multi-Academy Trust governance.

• • 34 bespoke and quality assured External Reviews of Governance designed exclusively for Trust boards delivered by Trust experts.

• Expert guidance and tools - Arange of guidance documents commanding the respect of members. - A comprehensive knowledge hub including our highly influential and authoritative guidance: Governing a School Trust, Assurance Framework for Trust Boards, Public Benefit and Civic Duty; and suite of guidance on Joining a Trust.

• • Asector-leading Executive Salary Benchmarking Research which will generate an annual national benchmark report to support remuneration decisions.

Strategic report

The descriptions under the headings "Achievements and performance", "Plans for the future" and "Financial review" meet the Company Law requirements for the Trustees to present a strategic report.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT AND STRATEGIC REPORT)

Financial review - Group

The Financial Year to 31 August 2023 saw the group achieve a surplus of £118,564 (2022: surplus of £328,343).

The group's income rose by £171,317 to £2,309,224 reflecting increased activity in all parts of the group from membership income, training and conference income and accreditation income.

During the year the group has invested £191,884 in a new CRM system to help manage relationships with our members and partners and assist in streamlining and controlling processes as we continue to grow.

Financial review - Charity

Total income for the year is £851,437 (2022: £1,010,370). Subscription income of £656,684 represents an increase of £113,064 on the previous year. All our Conferences and Masterclasses during the period were delivered by our trading subsidiary, CST Professional Development Limited.

Total costs of £814,862 for the year (2022: £722,835) relate to the direct costs of providing the member services plus governance costs and bear a direct relationship to the income streams.

The assets of CST are mainly represented by cash, some of which is held in interest bearing accounts.

Reserves policy

The Trustees, having given due consideration to the risks faced by the organisation and its financial and other commitments to members and other stakeholders, consider that an appropriate level of reserves to enable a smooth continuation of services is an amount equal to six months oprating costs. This amount is set aside as a designated Contingency Fund. Based on current activity this would equate to a level of reserves of approximately £702,800. Unrestricted funds have been designated to cover this level of contingency reserves. Two additional designated funds have been created for reserves that are represented by fixed assets and for governance developments in the education sector. At the year end the charity's additional free reserves were £210,278 which will be used to develop the services provided in furtherance of our charitable objects.

Investment policy

It is the policy of the charity to invest any surplus funds in term deposits with the charity's bankers and other financial institutions that are covered by the Financial Services Compensation Scheme.

Risk management The Trustees have considered the risks faced by the charity and have put in place a risk policy and comprehensive risk register with controls in place to mitigate those risks. By managing risk effectively, CST Trustees ensure that:

• Significant risks are known and monitored, enabling trustees to make informed decisions and take timely action; and

• • CST makes the most of opportunities and develops them with the confidence that any risks will be managed.

Our most significant risks are operational:

• Demands on the organisation exceed our capacity

• • Lack of capacity to manage relationships with growing number of members - Data and the potential for a cyber attack - Digital infrastructure - implementation and benefits realisation

The Trustees consider, whilst no system of controls can give absolute assurance against all risks, arrangements in place at CST are strong.

Plans for the future

Having established ourselves as the sector body for school trusts, we are now developing our next 5-year strategy.

• Our trajectory is to: - Build our internal capacity, creating strength and resilience; - Lead the conversation on Trusts; and - Build expert knowledge through networks and support so that the majority of Trusts are in membership. - So that the majority of trusts are in membership.

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CONFEDERATION OF SCHOOL TRUSTS
(A Company Limited by Guarantee)
SSS
TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT AND STRATEGIC REPORT)
Structure, governance and management
Governing Document, Company Status and Constitution
The Confederation of School Trusts is constituted as a company limited by guarantee and a registered charity. It is governed by its
Memorandum and Articles of Association (as revised in 2018) and was incorporated on 3 December 2004.
The Trustees, who are also the Directors for the purpose of company law, and who served since the commencement of the year were:
Sir Hamid Patel CBE Chair from 18 October 2023
Robert McDonough Chair until resigned 12 October 2023
Roy Blackwell Vice Chair
Jacqueline Russell Chair of Finance
Susan Douglas CBE (Appointed 30 September 2022)
Lorrayne Hughes
Sir Martyn Oliver (Resigned 02 December 2022)
Stephen Snelson
Luke Sparkes
Pamela Tuckett
Edward Vainker OBE (Appointed 30 September 2022)
Pamela Wright OBE
The ultimate decision-making body of CST is its Trust Board which is made up of up to 12 Appointed Trustees who are elected or
appointed by the Trust Board in accordance with Article 5.8 and any number of Nominated Trustees who may be appointed by the
Trust Board from time to time in accordance with Article 5.3.
The Trust Board meets five times per year. The Trust Board have various powers in the administration of the charity in their capacity
as Trustees. One of these powers is to appoint a Chair and Vice Chair from existing members.
In October 2023, our Chair of Trustees, Robert McDonough decided to stand down after five years in the role. We would like to thank
him for his service in those five years as we have built CST to the size and scale that it is today. We were pleased to appoint Sir
Hamid Patel as his successor.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to
contribute £1 in the event of a winding up.
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Related parties

Where Trustees are conflicted due to positions held within organisations or local and/or regional groups, this conflict is recorded in the charitable company's register of pecuniary interests, and conflicted Trustees withdraw from discussions and decisions. Confederation of School Trusts has a trading subsidiary, CST Professional Development Limited, for the purposes of organising and running the trading activities previously within the main charitable company. The results from the trading activities have been incorporated in this set of consolidated financial statements. Confederation of School Trusts is also the sole member of National Teacher Accreditation, a company limited by guarantee. The results of National Teacher Accreditation are also incorporated in this set of consolidated financial statements.

Disclosure of audit information

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the Auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the Auditor is aware of such information.

Auditor

The auditors, Dains Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

The Trustees’ Report was approved by the Board of Trustees.

ON 9a Sir Hamid Patel CBE Chair of Trustees Date: 01 February 2024

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees, who are also the directors of Confederation of School Trusts for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that year.

• In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• • make judgements and estimates that are reasonable and prudent;

• 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 statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) — SSS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONFEDERATION OF SCHOOL TRUSTS

Opinion

We have audited the financial statements of Confederation of School Trusts (the ‘charity’) and its subsidiaries (the 'group’) for the year ended 31 August 2023 which comprise the consolidated statement of financial activities, the group and charity balance sheets, the consolidated statements of cash flows, the principal accounting policies and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

• In our opinion, the financial statements: - give a true and fair view of the state of the group's and of the charitable company's affairs as at 31 August 2023 and of the group's incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• • have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statement is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the parent charitable company or group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard,

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the trustees’ report, which includes the directors report prepared for the purposes of company law, for the financial period for which the financial statements are prepared is consistent with the financial statements; and

• • the directors’ report included within the trustees' report has been prepared in accordance with applicable legal requirements.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONFEDERATION OF SCHOOL TRUSTS

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you

• if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or - adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records; or

• • certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. . the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that 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 cease operations, or have no realistic alternative but to do so.

Auditor's 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 Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures 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 noncompliance with laws and regulations, was as follows:

• . the senior statutory auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• • we identified the laws and regulations applicable to 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, including the financial reporting legislation, Companies Act 2006, taxation legislation, anti-bribery, employment, and environmental and health and safety legislation;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

• • identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of noncompliance throughout the audit.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

SSeS

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONFEDERATION OF SCHOOL TRUSTS

Auditor's responsibilities for the audit of the financial statements (continued)

We assessed the susceptibility of the company’s financial statements to material misstatement, 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;

• • 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 whether judgements and assumptions made in determining the accounting estimates set were indicative of potential bias;
• • investigated the rationale behind significant or unusual transactions.

• 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; - reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: http://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 group's trustees, 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 group's trustees those matters we are required to state to them in an auditors' 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 group and the group’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

SeniorMark Gurney Statutory FCCA Auditor Dains Audit Limited Statutory Auditor Chartered Accountants Birmingham

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating a consolidated income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2023

					Yearended
				Yearended 31	31 August
	Notes	Unrestricted Funds	Restricted Funds	August2023 Total Funds	2022 Total Funds
		£	£	£	£
Incoming from: Donationsand legacies	1	200	-	200	2,200
Incomefromcharitableactivities:
Charitable activities	2	656,684	-	656,684	543,620
Income from othertrading activities: Othertrading activities	3	1,627,550	-	1,627,550	1,582,154
Investments	4	7,152	-	7,152	1,534
OtherIncome	5	17,638	-	17,638	8,396
Totalincome		2,309,224	-	2,309,224	2,137,904
Expenditure on:
Expenditure on raisingfunds: Trading activities	6	1,375,797	-	1,375,797	1,086,726
Expenditureon charitable activities: Charitable activities	7	814,863	-	814,863	722,835
Totalexpenditure		2,190,660	-	2,190,660	1,809,561
Netincoming/(outgoing) resources before transfers		118,564	-	118,564	328,343
Gross transfers between funds		-	-	-	-
Net income/(expenditure) fortheyear/ Netmovement infunds		118,564	-	118,564	328,343
Fundsbalances at01 September2022		1,268,793	-	1,268,793	940,450
Fundsbalancesat31August2023		1,387,357	-	1,387,357	1,268,793

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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: CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) a

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating a consolidated income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2022

				Yearended
				31 August
Priorfinancial year		Unrestricted	Restricted	2022
	Notes	Funds	Funds	Total Funds
		£	£	£
Incoming from:
Donations and legacies	1	2,200	-	2,200
Income from charitable activities:
Charitable activities	2	543,620	-	543,620
Incomefromothertrading activities:
Othertrading activities	3	1,582,154	-	1,582,154
Investments	4	1,534	-	1,534
OtherIncome	5	8,396	-	8,396
Totalincome		2,137,904	-	2,137,904
Expenditure on:
Costsofraising funds:
Fundraising activities	6	1,086,726	-	1,086,726
Expenditure on charitable activities:
Charitable activities	7	722,835	-	722,835
Total expenditure		1,809,561	-	1,809,561
Net incoming/(outgoing) resources before
transfers		328,343	-	328,343
Gross transfers between funds		-	-	-
Net income/(expenditure) fortheyear/
Netmovement infunds		328,343	-	328,343
Funds balances at 01 September2021		940,450	-	940,450
Fundsbalancesat31August2022		1,268,793	-	1,268,793

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

CONSOLIDATED AND CHARITABLE COMPANY BALANCE SHEETS 31 AUGUST 2023

		Group	Charity	Group	Charity
	Notes	2023	2023	2022	2022
		£	£	£	£
Fixed assets
Intangible assets Tangible assets FixedAssetInvestments	11 12 13	191,884 11,750 -	191,884 7,384 1	- 9,867 -	- 6,592 1
		203,634	199,269	9,867	6,593
Current assets Debtors Current assetinvestments Cash atbank and inhand	15 16 26	687,929 170,000 1,788,429	191,954 170,000 1,096,842	282,577 170,000 1,527,916	171,221 170,000 1,202,038
		2,646,358	1,458,796	1,980,493	1,543,259
Creditors: amountsfallingduewithinoneyear	17	(1,462,635)	(497,816)	(721,567)	(426,178)
Netcurrentassets		1,183,723	960,980	1,258,926	1,117,081
Netassets		1,387,357	1,160,249	1,268,793	1,123,674
Income funds
Unrestricted funds Generalfunds	20	437,386	210,278	416,733	271,614
Designated funds		949,971	949,971	852,060	852,060
		1,387,357	1,160,249	1,268,793	1,123,674

The financial statements on pages 9 to 26 were approved by the Trustees and authorised for issue on 01 February 2024 and are signed on their behalf by: CW beh CS | ee a Sir Hamid Patel CBE Jacqueline Russell Chair of Trustees Trustee Company Registration Number: 05303883

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) ee eee ee

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023

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|||||||||| |---|---|---|---|---|---|---|---|---| |Notes|2023|2022| |£|£| |Cash|flows from|operating|activities| |Cash|generated|from|operations|25|451,680|154,604| |Investing|activities| |Purchase|of intangible|assets|11|(191,884)|-| |Purchase|of tangible|fixed|assets|12|(6,435)|(11,281)| |Interest received|4|7,152|1,534| |Net cash generated from/(used|in)|investing|activities|(191,167)|(9,747)| |Net increase|in cash and cash|equivalents|260,513|144,857| |Cash|and|cash|equivalents|at beginning|of year|1,527,916|1,383,059| |Cash|and|cash|equivalents|at end|of year|26|1,788,429|1,527,916|

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

• 1 Accounting policies

Charitable group information

Confederation of School Trusts is a private company limited by guarantee, incorporated in England and Wales and registered with the Charity Commission in England and Wales.

CST Professional Development Limited is a private company limited by shares, incorporated in England and Wales.

National Teacher Accreditation Ltd is a private company limited by guarantee, incorporated in England and Wales. The registered office for all organisations is Suite 1 Whiteley Mill Offices, 39 Nottingham Road, Stapleford, Nottingham NG9 8AD.

The principal activity of the group and charity is set out in the Trustees’ Report.

1.1 Accounting convention The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable group. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Group financial statements The financial statements consolidate the results of the charity and its wholly owned subsidiaries CST Professional Development Limited and National Teacher Accreditation Ltd on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by Companies Act 2006, s.408.

1.3. Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The trustees continue to adopt the going concern basis of accounting in preparing the financial statements, and no adjustments to the results or the carrying values declared in these financial statements are required, and none have been made. No material uncertainties exist.

• 1.4 Fund accounting Unrestricted Funds are available to spend on activities that further any of the purposes of the charity.

Designated Funds are unrestricted funds of the charity which the trustees have decided at their descretion to set aside to use for a specific purpose. Restricted Funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.5 Income Income is recognised when the charitable group is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable group has been notified of the donation, unless performance conditions require deferral of the amount.

Membership income is recognised incrementally over the period of the member's subscription year.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) SS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

• 1.6 Expenditure

• Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources, Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

1.7 Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

• Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

CRM Software

over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the period.

1.8 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

• All assets costing more than £1,000 are capitalised.

• Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the period.

1.10 Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price, except for the shares in the trading subsidiary which are carried at cost. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the period.

The charity does not acquire put options, derivatives or other complex financial instruments.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial period. Unrealised gains and losses are calculated as the difference between the fair value at the period-end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. A subsidiary is an entity controlled by the charitable company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. Investments in subsidiaries are stated at cost less provision for impairment.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1.11 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.12 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.13 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest, Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled.

1.14 Taxation

Charitable company

The activities of the charitable company are exempt from Corporation Tax to the extent that they are applied to the organisation's charitable objectives.

Trading subsidiary

The tax expense represents the sum of the tax currently payable and deferred tax.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) a SS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

It is the policy of the company to make a corporate donation equivalent to the taxable profits for the period ended to its parent company and registered charity under the applicable regulations. This payment is to be made within 9 months of the end of the accounting period and as such, under corporation tax regulations, the company is eligible to carry back the effect of this payment to the current period. No provision for corporation tax is made within the financial statements.

1.15 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16 Retirement benefits

Payments to defined contribution pension schemes are charged as an expense as they fall due.

1.17 Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant leases.

1.18 Legal status

Charitable company

The charitable company is a company limited by guarantee. In accordance with the Articles of Association, the members of the charitable company are the Trustees, who must sign a declaration of willingness to act as a Member. Membership is terminated when the individual ceases to be a Trustee. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company.

Trading subsidiaries

CST Professional Development Limited is a company limited by shares. The members of the company are its shareholders. Directors are appointed on behalf of the members to oversee the day-to-day operations of the subsidiary and ensure good governance in its activities. National Teacher Accreditation is a company limited by guarantee, Confederation of School Trusts is its only member.

2 Critical accounting estimates and judgements

In the application of the charitable company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1	Donationsand legacies	2023	2022
		£	£
	Donations and gifts	200	2,200
2	Charitable activities	2023	2022
		£	£
	Membership income	656,684	543,620
3	Othertrading activities	2023	2022
		£	£
	Income from trading activities	1,627,550	1,582,154
4	Investments	2023	2022
		£	£
	Interest receivable	7,152	1,534
5	Other Income	2023	2022
		£	£
	Other Income	17,638	8,396
6	Trading activities	2023	2022
		£	£
	Fundraising activities
	Expenditurefromtradingoperations	1,375,797	1,086,726

17

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) EEE CR RC nn nnn nnn nnn nnnnn

SSS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

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||||||| |---|---|---|---|---|---| |7|Charitable|activities|2023|2022| |Member Services|2|£| |Staff costs|546,043|467,822| |Other|staff costs|67,109|12,407| |Depreciation|2,728|958| |Bursaries|22,175|4,923| |Travel|and|meeting|costs|37,564|22,046| |Insurance|4,819|3,289| |Office|costs|41,658|26,766| |Computer costs|10,148|21,818| |Virtual|learning|platform|.|11,898| |Promotional|and|marketing|costs|19,985|19,456| |Professional|fees|57,198|124,549| |Governance|costs|4,475|6,250| |Bank|charges|961|653| |814,863|722,835|

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Description of charitable activities Member Services

Membership income and related services connected to assisting and administering memberships.

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||||||||| |---|---|---|---|---|---|---|---| |8|Net movement|in|funds|2023|2022| |Net movement|in|funds|is|stated|after charging/(crediting):|£|£| |Operating|lease|charges|320|320| |Audit of the charitable|group's|annual|accounts|8,950|6,250|

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9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration from the charity during the year.

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||||||||| |---|---|---|---|---|---|---|---| |2023|2023|2022|2022| |Trustee|reimbursed|expenses:|No|£|No|g| |Travelling|and|Subsistence|Costs|5|875|6|3,624|

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

10	Employees Number ofemployees The average monthly numberofemployees (including directors) during theyearwas:	2023 Number	2022 Number
	Directors	11	11
	LeadershipTeam	7	7
	MembershipTeam	8	8
	TrainingandConference ServicesTeam	8	4
		34	30
	EmploymentCosts (Group)	2023	2022
		£	E
	Wagesand salaries Social securitycosts Otherpension costs	969,498 101,020 104,097	510,784 37,313 50,464
		1,174,615	598,561
	EmploymentCosts(Charity)	2023	2022
		£E	£
	Wagesand salaries Social securitycosts Otherpension costs	450,653 45,195 50,195	278,631 26,248 39,749
		546,043	344,628
	The numberofgroup employeeswhose remuneration fortheyearwas £60,000 ormore were:	2023	2022
	£70,001 -£80,000	2	1
	£100,001 -£110,000	.	1
	£110,001 -£120,000	1	-
	Contributions for the year totalling £17,935 (2022: £17,030) were made to defined contribution pension schemes on behalf of
	employees whose emoluments exceed £60,000.
11	Intangibleassets	CRM Software	Total
	Group& Charity	£	£
	Cost
	Additions	191,884	191,884
	At31 August2023	191,884	191,884
	Amortisation
	At01 September2022 and 31 August2023	-	.
	Net book value
	At31 August2023	191,884	191,884
	At31August2022	=	¢

Software asset relates to anew CRM system that commenced build and development during the year. Completion is due in the next accounting period and no amortisation has been provided in these accounts.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) EEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

12	Tangibleassets Group					Computers £	Total £
	Cost
	At01September 2022 Additions					11,281 6,435	11,281 6,435
	At31 August2023					17,716	17,716
	Depreciation
	At01 September 2022 Depreciation charge fortheyear					1,414 4,552	1,414 4,552
	At31 August2023					5,966	5,966
	Net book value
	At31 August2023					11,750	11,750
	At31 August2022					9,867	9,867
13	FixedAssetInvestments Charity					Subsidiary undertakings £	Total £
	Cost
	At01 September 2022 and 31 August2023					1	1
	Depreciation
	At01 September 2022 and 31 August2023					-	:
	Net book value
	At 31 August 2022 and 31 August	2023				1	1
	The charitable company holds	1 share of £1 each	in its wholly owned		trading subsidiary company, CST Professional
	Development Limited, which is incorporated in the United Kingdom.			These arethe only	the only shares	allotted, called upand fully paid.
	The activities and results ofthiscompany is summarised		in note 24.
14	Financial instruments			Group		Charity
			2023		2022	2023	2022
				£	£	£	£
	Carrying amount offinancial assets
	Instrumentsmeasured at fairvalue through SOFA		170,000		170,000	170,000	170,000
15	Debtors			Group		Charity
			2023		2022	2023	2022
				£	£	£	£
	Tradedebtors		231,982		243,446	56,840	116,105
	Amountsowed bygroup undertakings			.	-	106,435	43,173
	Otherdebtors		2,409		22,905	1,134	1,188
	Prepayments and accrued income		453,538		16,226	27,545	10,755
			687,929		282,577	191,954	171,221

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CONFEDERATION OF SCHOOL TRUSTS

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

16	Current asset investments	Group		Charity
		2023	2022	2023	2022
		£	£	£	£
	Fixed term bankdeposits	170,000	170,000	170,000	170,000
17	Creditors: amounts fallingduewithin oneyear	Group		Charity
		2023	2022	2023	2022
		£	£	£	£
	Trade creditors	249,988	29,715	93,742	21,052
	Othertaxation and social security	35,461	19,197	14,108	9,389
	Deferred income (see Note 18)	1,127,722	619,735	376,582	375,056
	Other creditors	4,230	12,889	3,599	12,889
	Accruals	45,234	40,031	9,785	7,792
		1,462,635	721,567	497,816	426,178
18	Deferred income	Group		Charity
		2023	2022	2023	2022
		£	£	£	£
	Arising from charitable activities	376,582	375,056	376,582	375,056
	Arising from trading activities	751,140	244,679	.	-
		1,127,722	619,735	376,582	375,056
	Deferred income is included in the financial statements as follows:
		Group		Charity
		2023	2022	2023	2022
		£	£	£	£
	Deferred income at 01 September	619,735	662,531	375,056	249,531
	Resources deferred during theYear	1,127,722	619,735	376,582	375,056
	Amounts released from previous Year	(619,735)	(662,531)	(375,056)	(249,531)
	Deferredincomeat31August	1,127,722	619,735	376,582	375,056

Deferred income arises where income has been received in respect of membership income, platinum partner income, conference events and training courses that are due to take place after the year end.

• 19 Retirement benefit schemes Defined contribution schemes

The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

The charge to statement of financial activities in respect of the defined contribution schemes was £104,097 (2022: £50,464). The pension creditor at the year end was £1,081 (2022: £10,088).

21

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee) SS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

20	UnrestrictedFunds Group	Atot September 2022 P r £	Atot September 2022 P r £	Incoming resources £	Resources expended £	Transfers £	At31 August 2023 £
	General Funds		416,732	2,309,224	(2,168,485)	(120,086)	437,385
	Designated Funds
	Contingency Fund Fixed AssetFund Governance Development Fund		781,982 - 70,078	- - -	- - (22,175)	(79,182) 199,268 -	702,800 199,268 47,903
			1,268,792	2,309,224	(2,190,660)	-	1,387,356
			At01	Incoming	Resources		At31 August
	Group	September2021 £		resources £	expended £	Transfers £	2022 £
	General Funds		196,579	2,137,904	(1,804,639)	(113,112)	416,732
	Designated Funds
	ContingencyFund Governance Development Fund		668,870 75,000	- -	- (4,922)	113,112 -	781,982 70,078
			940,449	2,137,904	(1,809,561)	-	1,268,792
	Charity	At01 September 2022 £		Incoming resources £	Resources expended £	Transfers £	At31August 2023 £
	GeneralFunds		276,536	851,438	(792,688)	(120,086)	215,200
	Designated Funds
	Contingency Fund FixedAssetFund Governance DevelopmentFund		781,982 - 70,078	- - -	- - (22,175)	(79,182) 199,268 -	702,800 199,268 47,903
			1,128,596	851,438	(814,863)	-	1,165,171
			At01	Incoming	Resources		At31 August
	Charity	September2021 £		resources £	expended £	Transfers £	2022 £
	General Funds		92,269	1,010,370	(712,991)	(113,112)	276,536
	Designated Funds
	Contingency Fund Governance Development Fund		668,870 75,000	- -	- (4,922)	T3412 -	781,982 70,078
			836,139	1,010,370	(717,913)	-	1,128,596

Description of Designated Funds:

The Contingency Fund has been created to provide funds to enable smooth continuation of the charity's services in line with the charity's reserves policy. This amount equals six months operating costs The Fixed Asset Fund was created in response to the acquisition of a material asset in terms of the charity's CRM system. It was decided to create a fund equal to the net book value of the charity's fixed assets. The governance development fund has been set up to fund initiatives to advance governance in the education sector.

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

21	Analysis ofnetassets betweenfunds	Unrestricted	Restricted	Restricted	Yearended 31
	Group	Funds	Funds		August2023
	Fund balances at 31 August2023 are represented by:	£		£	£
	Intangible assets	191,884	-		191,884
	Tangible assets	11,750	-		11,750
	Current assets/(liabilities)	1,183,723	-		1,183,723
		1,387,357	-		1,387,357
		Unrestricted	Restricted		Yearended 31
	Group	Funds	Funds		August2022
	Fund balances at 31 August2022 are represented by:	£		£	£
	Tangible assets	9,867	-		9,867
	Currentassets/(liabilities)	1,258,926	-		1,258,926
		1,268,793	-		1,268,793
		Unrestricted	Restricted		Yearended 31
	Charity Fund balances at 31 August2023 are represented by:	Funds £	Funds £		August2023 £
	Intangible assets	191,884	-		191,884
	Tangible assets	7,384	-		7,384
	Fixed Asset Investments	1	-		1
	Current assets/(liabilities)	960,979	-		960,979
		1,160,248	-		1,160,248
		Unrestricted	Restricted		Yearended 31
	Charity Fund balances at 31 August2022 are represented by:	Funds £	Funds £		August2022 £
	Tangible assets	6,592	-		6,592
	Fixed Asset Investments	1	-		1
	Currentassets/(liabilities)	1,117,081	-		1,117,081
		1,123,674	-		1,123,674
22	Operating leasecommitments
	Lessee
	At the reporting end date the charitable group had outstanding	commitments for future minimum lease		payments under non-
	cancellable operating leases, which falldue as follows:
	Group and charity			Other
			2023		2022
	Expiry date:			£	£
	Within oneyear		320		9,500
	Between twoand fiveyears		>		320
			320		9,820

At the reporting end date the charitable group had outstanding commitments for future minimum lease payments under noncancellable operating leases, which fall due as follows:

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

a NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

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||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |23|Related|party transactions| |Remuneration|of key management|personnel|Yearended|31|Year ended|31| |August 2023|August|2022| |The|remuneration|of key|management|personnel|is|as|follows:|£|£| |Aggregate|compensation|§25,181|358,601| |Key|management|personnel|includes|the|senior|management|team|and|trustees.|Trustees|are|not|remunerated|for|their|role|in| |the|charitable company.|

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Owing to the nature of the charity's operations and the composition of the board of trustees being drawn form interested and affiliate parties, transactions may take place with organisations in which the charity has an interest. All transactions involving such organisations are conducted at arm's length and in accordance with the charity's financial regulations and normal procurement procedures.

The following related party transactions were approved during the year.

During the year CST Professional Development Limited incurred the following expenditure with Confederation of School Trusts: 2023 2022 Administration and accounting services - 78,565 Distribution to charity under gift aid 154,563 360,855

At the year end, the amount owed by CST Professional Development Limited to Confederation of School Trusts was £97,741 (2022: £43,173).

During the year, Confederation of School Trusts raised invoices to National Teacher Accreditation Ltd of £101,996 (2022 : £101,304) which related to staff costs and shared expenses and £15,200 (2022: £13,810 for oversight and administrative services,

At the year end, the amount owed by National Teacher Accreditation to Confederation of School Trusts and included within trade creditors was £8,944 (2022: ENil).

24

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |24|Subsidiaries| |The|wholly|owned|subsidiary,|CST|Professional|Development|Limited,|is|incorporated|in|England|and|Wales|(company|number| |10354936) and|pays|all|of|its|taxable|surpluses|to the|parent|charitable company asa|distribution|under|gift|aid.| |The summary|financial|performance|of the|subsidiary company alone|is:|Yearended|31|Year ended|31| |August 2023|August 2022| |£|3| |Turnover|1,221,868|1,286,789| |Cost of|sales|415,632|634,874| |Gross|profit|806,236|651,915| |Administrative|expenses|651,671|291,060| |Operating|profit|154,565|360,855| |Interest|receivable|and|similar|income|.|-| |Profit on|ordinary|activities|before|taxation|154,565|360,855| |Tax|on|profit|<|:| |Profit on|ordinary|activities|after taxation|154,565|360,855| |Distributions|to|parent charity|under|gift|aid|154,563|360,855| |The|assets|and|liabilities|of the|subsidiary were:|2023|2022| |£|£| |Fixed|assets|4,028|2,771| |Current|assets|1,013,971|200,802| |Current|liabilities|(1,017,998)|(203,572)| |Total|net|assets|1|1|

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|||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The|wholly|owned|subsidiary,|National|Teacher|Accreditation|Ltd,|is|incorporated|in|England|and|Wales|(company|number| |08650911).|National|Teacher|Accreditation|Ltd|is|ceasing|to|trade|at|31|August|2024|and|so|its|accounts|are|prepared|on|a| |non|going|concern|basis.| |The summary|financial|performance|of the|subsidiary company|alone|is:|Yearended31|Year ended|31| |August 2023|August|2022| |£|£| |Turnover|405,682|295,365| |Administrative|expenses|302,341|244,749| |Operating|profit|103,341|50,616| |Interest|receivable|and|similar|income|.|-| |Surplus|on|ordinary|activities|before|taxation|103,341|50,616| |Tax|on|surplus|21,353|9,808| |Surplus|on|ordinary|activities|after taxation|81,988|40,808| |The|assets|and|liabilities|of the|subsidiary were:|2023|2022| |£|E| |Fixed|assets|338|504| |Current|assets|280,025|279,606| |Current|liabilities|(53,255)|(134,990)| |Total|net assets|227,108|145,120|

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CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

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||||||||| |---|---|---|---|---|---|---|---| |25|Cash|generated from/(absorbed|by) operations|2023|2022| |Group|£|£| |Surplus|for the year|118,564|328,346| |Adjustments|for:| |Investment income recognised|in|statement of financial|activities|(7,152)|(1,534)| |Depreciation|and|impairment|of tangible|fixed|assets|4,552|1,414| |Write|off of intangible|fixed|asset|.|1,508| |Movements|in|working|capital:| |(Increase)|in|debtors|(405,351)|(91,173)| |Increase/decrease|in|creditors|741,067|(83,957)| |Cash generated|from|operations|451,680|154,604| |26|Analysis|of cash|and|cash|equivalents|2023|2022| |Group|2|£| |Cash|in|hand|and|at bank|1,788,429|1,527,916|

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