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← Confederation Of School Trusts

2024-08-31-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 2024

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 OBE 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 Julie Lerbech Chief Operating Officer & Company Secretary Samuel Skerritt Director of Public Affairs and Policy Samira Sadeghi Director of Trust Governance Elizabeth Jack Director of Membership CST Professional Development Limited Charis Evans Managing 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 2 Chamberlain Square Birmingham B3 3AX 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

NTENTS
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 - 27

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 2024.

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 Limited (our trading arm) and National Teacher Accreditation Ltd (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. National Teacher Accreditation Ltd ceased trading on 31 August 2024.

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 2023-24 have focused on:

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 31 August 2024 we have two thirds (75%) of academy schools in membership - educating more than 3.5 million pupils.

We would like to report our achievement with reference to our three strategic anchors - to advocate for, connect and support school trusts in England.

1

(A Company Limited by Guarantee)

CONFEDERATION OF SCHOOL TRUSTS

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

Advocacy:

Special Educational Needs and Disability (SEND) and Alternative Provision National Implementation Board

Trust Leadership Development and Knowledge Building

Trust-led Improvement

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

Connecting our members to each other

Connecting our members to what they need to know

Supporting School Trusts:

Trusted Professional Development

Specialist Consultancy Service for Trusts

Expert guidance and tools

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.

2

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 2024 saw the group achieve a surplus of £45,681 (2023: surplus of £118,564).

The group's income rose by £974,846 to £3,284,070 reflecting increased activity in all parts of the group from membership income, training and conference income.

During the year the group has invested an additional £84,406 in the 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 £1,293,541 (2023: £851,437). Subscription income of £772,662 represents an increase of £115,978 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 £1,020,752 for the year (2023: £814,862) 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 operating 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 £774,700. 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 £202,886 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:

Our risk register records the following main risks:

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, the board has now agreed our next 3 to 5 year strategy.

Our trajectory is to:

3

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

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 Lorrayne Hughes OBE Stephen Snelson Luke Sparkes Pamela Tuckett Edward Vainker OBE Pamela Wright OBE

The ultimate decision-making body of CST is its Trust Board which is made up of up to 15 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.

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 was also the sole member of National Teacher Accreditation Ltd, a company limited by guarantee. The results of National Teacher Accreditation Ltd are also incorporated in this set of consolidated financial statements to the date on which they ceased operations.

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. Sir Hamid Patel CBE Hoa Pars Chair of Trustees

Date: 07 February 2025

4

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:

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.

5

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

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 2024 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:

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:

6

(A Company Limited by Guarantee)

CONFEDERATION OF SCHOOL TRUSTS

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:

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:

7

(A Company Limited by Guarantee)

CONFEDERATION OF SCHOOL TRUSTS

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:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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.

Mark Gurney FCCA Date: 07 February 2025 Senior Statutory Auditor For and on behalf of Dains Audit Limited Statutory Auditor Chartered Accountants Birmingham

8

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 2024

Notes
Incoming from:
Donations and legacies
1
Income from charitable activities:
Charitable activities
2
Income from other trading activities:
Other trading activities
3
Investments
4
Other Income
5
Total income
Expenditure on:
Expenditure on raising funds:
Trading activities
6
Expenditure on charitable activities:
Charitable activities
7
Total expenditure
Gross transfers between funds
Funds balances at 01 September 2023
Funds balances at 31 August 2024
Net incoming/(outgoing) resources before
transfers
Net income/(expenditure) for the year/
Net movement in funds		 £
250
772,662
2,469,747
14,780
26,631
3,284,070
2,217,637
993,260
3,210,897
73,173
(152,835)
(79,662)
1,387,357
1,307,695
Unrestricted
Funds		 £
-
-
-
-
-
-
-
27,492
27,492
(27,492)
152,835
125,343
-
125,343
Restricted
Funds		 Year ended 31
August 2024
Total Funds
£
250
772,662
2,469,747
14,780
26,631
3,284,070
2,217,637
1,020,752
3,238,389
45,681
-
45,681
1,387,357
1,433,038		 Year ended
31 August
2023
Total Funds
£
200
656,684
1,627,550
7,152
17,638
2,309,224
1,375,797
814,863
2,190,660
118,564
-
118,564
1,268,793
1,387,357

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.

9

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

Prior financial year
Notes
Incoming from:
Donations and legacies
1
Income from charitable activities:
Charitable activities
2
Income from other trading activities:
Other trading activities
3
Investments
4
Other Income
5
Total income
Expenditure on:
Costs of raising funds:
Fundraising activities
6
Expenditure on charitable activities:
Charitable activities
7
Total expenditure
Funds balances at 01 September 2022
Funds balances at 31 August 2023
Net income/(expenditure) for the year/
Net movement in funds		 £
200
656,684
1,627,550
7,152
17,638
2,309,224
1,375,797
814,863
2,190,660
118,564
1,268,793
1,387,357
Unrestricted
Funds		 £
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds		 Year ended
31 August
2023
Total Funds
£
200
656,684
1,627,550
7,152
17,638
2,309,224
1,375,797
814,863
2,190,660
118,564
1,268,793
1,387,357

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.

10

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

CONSOLIDATED AND CHARITABLE COMPANY BALANCE SHEETS 31 AUGUST 2024

Group Charity Group Charity
Notes 2024 2024 2023 2023
£ £ £ £
Fixed assets
Intangible assets 11 276,290 276,290 191,884 191,884
Tangible assets 12 12,436 12,436 11,750 7,384
Fixed Asset Investments 13 - 1 - 1
288,726 288,727 203,634 199,269
Current assets
Debtors 15 515,923 313,809 687,929 191,954
Current asset investments 16 170,000 170,000 170,000 170,000
Cash at bank and in hand 28 2,091,849 1,195,187 1,788,429 1,096,842
2,777,772 1,678,996 2,646,358 1,458,796
Creditors: amounts falling due within one year 17 (1,633,460) (534,685) (1,462,635) (497,816)
Net current assets 1,144,312 1,144,311 1,183,723 960,980
Net assets 1,433,038 1,433,038 1,387,357 1,160,249
Income funds
Restricted funds 20 125,343 125,343 - -
Unrestricted funds 21
General funds 202,886 202,886 437,386 210,278
Designated funds 1,104,809 1,104,809 949,971 949,971
1,433,038 1,433,038 1,387,357 1,160,249

The financial statements on pages 9 to 27 were approved by the Trustees and authorised for issue on 07 February 2025 and are signed on their behalf by:

Sir Hamid Patel CBE Chair of Trustees Company Registration Number: 05303883

Jacqueline Russell Trustee

11

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024

Notes
Cash flows from operating activities
Cash generated from operations
27
Investing activities
Purchase of intangible assets
11
Purchase of tangible fixed assets
12
Interest received
4
Net cash generated from/(used in) investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
28		 2024
£
379,211
(84,406)
(6,164)
14,780
(75,790)
303,421
1,788,428
2,091,849		 2023
£
451,680
(191,884)
(6,435)
7,152
(191,167)
260,513
1,527,916
1,788,429

12

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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.

13

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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.

14

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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.

15

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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.

16

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1
2
3
4
5
6		 Donations and legacies
Funds
Funds
£
£
Donations and gifts
250
-
Charitable activities
Governance
Leadership
£
£
Membership income
772,662
-
Other trading activities
Unrestricted
Funds
Restricted
Funds
£
£
Income from trading activities
2,469,747
-
Investments
Unrestricted
Funds
Restricted
Funds
£
£
Interest receivable
14,780
-
Other Income
Unrestricted
Funds
Restricted
Funds
£
£
Other Income
26,631
-
Trading activities
Unrestricted
Funds
Restricted
Funds
£
£
Fundraising activities
Expenditure from trading operations
2,217,637
-
Memberships		 £
250
£
772,662
£
2,469,747
£
14,780
£
26,631
2024
£
2,217,637
2023
2023
2023
2023
2023		 £
200
2023
£
656,684
2023
£
1,627,550
2023
£
7,152
2023
£
17,638
2023
2023
£
1,375,797

17

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

7
Charitable activities
Member
Services
Governance
Leadership
Member Services
£
£
£
Staff costs
-
707,024
-
Other staff costs
-
22,216
-
Depreciation
-
5,140
-
Bursaries
-
6,520
-
Travel and meeting costs
-
53,846
-
Insurance
-
4,674
-
Office costs
-
21,076
-
Computer costs
-
28,987
-
Promotional and marketing costs
-
30,844
-
Professional fees
-
134,336
-
Governance costs
-
5,000
-
Bank charges
-
1,089
-
-
1,020,752
-
Member
Services		 £
707,024
22,216
5,140
6,520
53,846
4,674
21,076
28,987
30,844
134,336
5,000
1,089
1,020,752
2024		 £
546,043
67,109
2,728
22,175
37,564
4,819
41,658
10,148
19,985
57,198
4,475
961
2023
814,863

Description of charitable activities

Member Services

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

8 Net movement in funds 2024 2023
Net movement in funds is stated after charging/(crediting): £ £
Operating lease charges 320 320
Audit of the charitable group's annual accounts 10,000 8,950
9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration from the charity during the year.
2024 2024 2023 2023
Trustee reimbursed expenses: No £ No £
Travelling and Subsistence Costs 5 866 5 875

18

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

10
Employees
Number of employees
The average monthly number of employees (including directors) during the year was:
Directors
Leadership Team
Membership Team
Training and Conference Services Team
Employment Costs (Group)
Wages and salaries
Social security costs
Other pension costs
Redundancy costs
Employment Costs (Charity)
Wages and salaries
Social security costs
Other pension costs
10
Employees (cont d)
£60,001 - £70,000
£80,001 - £90,000
£90,001 - £100,000
£100,001 - £110,000
£130,001 - £140,000
£140,001 - £150,000
The number of group employees whose remuneration for the year was £60,000 or more
were:		 Number
11
7
8
8
34
£
1,309,503
141,256
141,899
21,506
1,614,164
£
573,645
65,727
67,652
707,024
3
1
1
1
-
1
2024
2024
2024
2024		 Number
11
7
8
4
2023
30
£
969,498
101,020
104,097
-
2023
1,174,615
£
450,653
45,195
50,195
2023
546,043
-
2
-
-
1
-
2023

Contributions for the year totalling £17,935 (2023: £17,030) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000.

11
Intangible assets
Group & Charity
Cost
At 01 September 2023
Additions
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023		 CRM Software
£
191,884
84,406
276,290
276,290
191,884		 Total
£
191,884
84,406
276,290
276,290
191,884

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

19

(A Company Limited by Guarantee)

CONFEDERATION OF SCHOOL TRUSTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

12
Tangible assets
Fittings
Group
Cost
At 01 September 2023
-
Additions
-
Disposals
-
At 31 August 2024
-
Depreciation
At 01 September 2023
-
Depreciation charge for the year
-
Disposals
-
At 31 August 2024
-
Net book value
At 31 August 2024
-
At 31 August 2023
-
13
Fixed Asset Investments
Charity
Cost
At 01 September 2023 and 31 August 2024
Depreciation
At 01 September 2023 and 31 August 2024
Net book value
At 31 August 2023 and 31 August 2024		 Computers
£
17,716
6,164
(2,618)
21,262
5,966
5,140
(2,280)
8,826
12,436
11,750
Subsidiary
undertakings
£
98
1
-
1		 Total
£
17,716
6,164
(2,618)
21,262
5,966
5,140
(2,280)
8,826
12,436
11,750
Total
£
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 are the only shares allotted, called up and fully paid. The activities and results of this company is summarised in note 26.

14
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through SOFA
15
Debtors
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 2024
2023
£
£
170,000
170,000
2024
2023
£
£
205,231
231,982
-
-
20,308
2,409
290,384
453,538
515,923
687,929
Group
Group		 2024
2023
£
£
170,000
170,000
2024
2023
£
£
63,985
56,840
222,603
106,435
1,134
1,134
26,087
27,545
313,809
191,954
Charity
Charity		 2024
2023
£
£
170,000
170,000
2024
2023
£
£
63,985
56,840
222,603
106,435
1,134
1,134
26,087
27,545
313,809
191,954
Charity
Charity
191,954

20

(A Company Limited by Guarantee)

CONFEDERATION OF SCHOOL TRUSTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

16
Current asset investments
Fixed term bank deposits
17
Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Deferred income (see Note 18)
Other creditors
Accruals
18
Deferred income
Arising from charitable activities
Arising from trading activities
Deferred income is included in the financial statements
Deferred income at 01 September
Resources deferred during the Year
Amounts released from previous Year
Deferred income at 31 August		 2024
2023
£
£
170,000
170,000
2024
2023
£
£
157,664
249,988
54,126
35,461
1,363,208
1,127,722
13,433
4,230
45,029
45,234
1,633,460
1,462,635
2024
2023
£
£
437,614
376,582
925,594
751,140
1,363,208
1,127,722
as follows:
2024
2023
£
£
1,127,722
619,735
1,363,208
1,127,722
(1,127,722)
(619,735)
1,363,208
1,127,722
Group
Group
Group
Group		 2024
2023
£
£
170,000
170,000
2024
2023
£
£
32,388
93,742
54,126
14,108
437,614
376,582
5,255
3,599
5,302
9,785
534,685
497,816
2024
2023
£
£
437,614
376,582
-
-
437,614
376,582
2024
2023
£
£
376,582
375,056
437,614
376,582
(376,582)
(375,056)
437,614
376,582
Charity
Charity
Charity
Charity		 2024
2023
£
£
170,000
170,000
2024
2023
£
£
32,388
93,742
54,126
14,108
437,614
376,582
5,255
3,599
5,302
9,785
534,685
497,816
2024
2023
£
£
437,614
376,582
-
-
437,614
376,582
2024
2023
£
£
376,582
375,056
437,614
376,582
(376,582)
(375,056)
437,614
376,582
Charity
Charity
Charity
Charity
376,582

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 £141,899 (2023: £104,097).

The pension creditor at the year end was £355 (2023: £1,081).

21

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

OTES TO THE FINANCIAL STATEMENTS
OR THE YEAR ENDED 31 AUGUST 2024
20
Restricted Funds
Group
£
NTA Fund
-
Charity
£
NTA Fund
-
At 01
September 2023
At 01
September 2023		 Incoming
resources
£
-
Incoming
resources
£
152,835		 Resources
expended
£
(27,492)
Resources
expended
£
(27,492)		 Transfers
£
152,835
Transfers
£
-		 £
125,343
At 31 August
2024
£
125,343
At 31 August
2024

Description of Restricted Funds:

NTA Fund was created from the funds remaining in our subsidiary company, National Teacher Accreditation on its closure on 31 August 2024. The funds are restricted to purposes agreed with the board of directors of National Teacher Accreditation before its cessation.

21 Unrestricted Funds


Group
£
General Funds
437,385
Designated Funds
949,971
Contingency Fund
702,800
Fixed Asset Fund
199,268
Governance Development Fund
47,903
1,387,356
Group
£
General Funds
416,732
Designated Funds
852,060
Contingency Fund
781,982
Fixed Asset Fund
-
Governance Development Fund
70,078
1,268,792
At 01
September 2023
At 01
September 2022		 Incoming
resources
£
3,284,070
-
-
-
-
3,284,070
Incoming
resources
£
2,309,224
-
-
-
-
2,309,224		 Resources
expended
£
(3,204,377)
(6,520)
-
-
(6,520)
(3,210,897)
Resources
expended
£
(2,168,485)
(22,175)
-
-
(22,175)
(2,190,660)		 Transfers
£
(314,193)
161,358
71,900
89,458
-
(152,835)
Transfers
£
(120,086)
120,086
(79,182)
199,268
-
-		 £
202,885
1,104,809
774,700
288,726
41,383
At 31 August
2024
1,307,694
£
437,385
949,971
702,800
199,268
47,903
At 31 August
2023
1,387,356

22

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

22 Unrestricted Funds (continued)

Charity
£
General Funds
210,278
Designated Funds
949,971
Contingency Fund
702,800
Fixed Asset Fund
199,268
Governance Development Fund
47,903
1,160,249
Charity
£
General Funds
271,614
Designated Funds
852,060
Contingency Fund
781,982
Fixed Asset Fund
-
Governance Development Fund
70,078
1,123,674
At 01
September 2023
At 01
September 2022		 Incoming
resources
£
1,140,706
-
-
-
-
1,140,706
Incoming
resources
£
851,438
-
-
-
-
851,438		 Resources
expended
£
(986,740)
(6,520)
-
-
(6,520)
(993,260)
Resources
expended
£
(792,688)
(22,175)
-
-
(22,175)
(814,863)		 Transfers
£
(161,358)
161,358
71,900
89,458
-
-
Transfers
£
(120,086)
120,086
(79,182)
199,268
-
-		 £
202,886
1,104,809
774,700
288,726
41,383
At 31 August
2024
1,307,695
£
210,278
949,971
702,800
199,268
47,903
At 31 August
2023
1,160,249

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 tangible and intangible fixed assets.

The governance development fund has been set up to fund initiatives to advance governance in the education sector.

23

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

23
Analysis of net assets between funds
Group
Fund balances at 31 August 2024 are represented by:
Intangible assets
Tangible assets
Current assets/(liabilities)
Group
Fund balances at 31 August 2023 are represented by:
Tangible assets
Current assets/(liabilities)
Charity
Fund balances at 31 August 2024 are represented by:
Intangible assets
Tangible assets
Fixed Asset Investments
Current assets/(liabilities)
Charity
Fund balances at 31 August 2023 are represented by:
Intangible assets
Tangible assets
Fixed Asset Investments
Current assets/(liabilities)		 £
276,290
12,436
991,477
1,280,203
Unrestricted
Funds
£
11,750
1,183,723
1,387,357
Unrestricted
Funds
£
276,290
12,436
1
991,475
1,280,202
Unrestricted
Funds
£
191,884
7,384
1
960,980
1,160,249
Unrestricted
Funds		 £
-
-
152,835
152,835
Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
-
152,835
125,343
Restricted
Funds
£
-
-
-
-
-
Restricted
Funds		 £
276,290
12,436
1,144,312
Year ended 31
August 2024
1,433,038
£
11,750
1,183,723
Year ended 31
August 2023
1,387,357
£
276,290
12,436
1
1,144,310
Year ended 31
August 2024
1,433,037
£
191,884
7,384
1
960,980
Year ended 31
August 2023
1,160,249

24 Operating lease commitments Lessee

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:

Group and charity Land and buildings Other
2024 2023 2024 2023
Expiry date: £ £ £ £
Within one year 5,356 7,205
Between two and five years - - - 320

24

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

25 Related party transactions
Remuneration of key management personnel Year ended 31 Year ended 31
August 2024 August 2023
The remuneration of key management personnel is as follows: £ £
Aggregate compensation 750,256 525,181

Key management personnel includes the senior management team and trustees. Trustees are not remunerated for their role in the charitable company.

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:

2024 2023
£ £
Distribution to charity under gift aid 311,183
 154,563

At the year end, the amount owed by CST Professional Development Limited to Confederation of School Trusts was £131,987 (2023: £97,741).

During the year, Confederation of School Trusts raised invoices to National Teacher Accreditation Ltd of £94,092 relating to staff costs, £8,039 relating to shared expenses and £15,200 relating to oversight and administrative services.

Following the closure of National Teacher Accreditation Ltd the remaining funds of £152,835 have been donated to Confederation of School Trusts with restricted purposes that were agreed by the Board of National Teacher Accreditation Ltd.

25

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

26 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 as a distribution under gift aid.

The summary financial performance of the subsidiary company alone is:
Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Interest receivable and similar income
Profit on ordinary activities before taxation
Tax on profit
Profit on ordinary activities after taxation
Distribution to parent charity under gift aid
The assets and liabilities of the subsidiary were:
Fixed assets
Current assets
Current liabilities
Total net assets		 £
2,369,719
1,564,563
805,156
493,973
311,183
-
311,183
-
311,183
311,183
2024
£
-
1,220,661
(1,220,660)
1
Year ended 31
August 2024		 £
1,221,868
694,927
Year ended 31
August 2023
526,941
372,378
154,563
-
154,563
-
154,563
154,563
2023
£
4,028
1,013,971
(1,017,998)
1

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:
Turnover
Administrative expenses
Other operating income
Operating profit
Interest receivable and similar income
Surplus on ordinary activities before taxation
Tax on surplus
Surplus on ordinary activities after taxation
The assets and liabilities of the subsidiary were:
Fixed assets
Current assets
Current liabilities
Total net assets		 £
94,930
193,475
3,822
(94,723)
1,276
(93,447)
(19,174)
(74,273)
2024
£
-
100,717
(100,717)
-
Year ended 31
August 2024		 £
394,969
302,341
10,713
Year ended 31
August 2023
103,341
-
103,341
21,353
81,988
2023
£
338
280,025
(53,255)
227,108

26

CONFEDERATION OF SCHOOL TRUSTS (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

OTES TO THE FINANCIAL STATEMENTS
OR THE YEAR ENDED 31 AUGUST 2024
27
Cash generated from/(absorbed by) operations
Group
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Write off of intangible fixed asset
Movements in working capital:
Decrease/(increase) in debtors
Increase/decrease in creditors
Cash generated from/(absorbed by) operations
28
Analysis of cash and cash equivalents
Group
Cash in hand and at bank		 2024
£
45,681
(14,780)
5,478
-
172,006
170,826
379,211
2024
£
2,091,849		 2023
£
118,564
(7,152)
3,044
1,508
(405,348)
741,062
451,678
2023
£
1,788,429

27