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|NTENTS||||||
|---|---|---|---|---|---|
|||||Page||
|Trustees'
Report (including
Directors'|Report and Strategic Report)||1|-11||
|Statement oftrustees'
responsibilities|||12|||
|Independent
auditor's
report|||13|-|15|
|Consolidated
Statement ofFinancial|Activities||16|-|17|
|Consolidated
and Charitable
Company||Balance Sheets|18|||
|Consolidated
Statement ofCash Flows|||19|||
|Notes to the financial statements|||20|-|33|
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|Trustees,
who are also the di
ture
ofthe financial statements,|rectors for the
were:|purpose
of company|
|---|---|---|
|Paul Armstrong|||
|Helen Burge|(Appointed|24 March 2021)|
|Matthew
Burrell|||
|Matthew
Clements-Wheeler|(Resigned|13November 2020)|
|Jonathan
Goatee|(Appointed|25 March 2021)|
|Gary Corban|||
|Alison Jefferson|||
|Stephen
Lester MBE|(Appointed|28 July 2020)|
|Josephine
Marchant|||
|Rachel Prince|(Resigned|20 November 2020)|
|Stephen
Rayner|(Appointed|24 March 2021)|
|Yvonne Spencer|||
|Trevor Summerson|||
|Sandy Tomlinson|(Appointed|23 September 2020)|
|Michael White|(Appointed|24 March 2021)|
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||||||||Yearended
31|
|---|---|---|---|---|---|---|---|
|||||||Period ended|December|
|||||Unrestricted|Designated|31March 2021|2019|
||||Notes|Funds|Funds|Total Funds|Total Funds|
||||||f||f|
|Donations
and legacies|||3|11,213||11,213||
|income from charitable|activities:|||||||
|Charitable
activities|||4|288,217||288,217|266,349|
|Income from other trading||activities:||||||
|Other trading activities|||5|644,133|948,465|1,592,598|2,244,140|
|Investments|||6|1,196||1,196|1,890|
|Total income||||944,759|948,465|1,893,224|2,512,379|
|E~df||||||||
|Expendilure
on charitable||activities:||||||
|Charitable
activities|||8|691,314|29,154|720,468|652,999|
|Expenditure
from alber trading aciivitiss:||||||||
|Other trading
activities|||10|473,746|738,436|1,212,182|1,729,776|
|Total expenditure||||1,165,060|767,590|1,932,650|2,382,775|
|Net incoming/(outgoing)||resources before||||||
|transfers||||(220,301)|180,875|(39,426)|129,604|
|Gross transfers
between||funds||196,692|(196,692)|||
|Net incomei(expenditure)||forthe periodi||||||
|Net movement
in funds||||(23,609)|(15,817)|(39,426)|129,604|
|Funds balances at 01 January 2020||||338,002|15,817|353,819|224,215|
|Funds balances at 31 March 2021||||314,393||314,393|353,819|
##
##
|||||||Year ended 31|
|---|---|---|---|---|---|---|
|||||||December|
|Prior financial year||||Unrestricted|Designated|2019|
||||Notes|Funds|Funds|Total Funds|
|||||6|f|6|
|Ilail f|||||||
|Income from charitable|activities:||||||
|Charitable
activities||||266,349||266,349|
|Income from other trading activities:|||||||
|Other trading
activities||||915,135|1,329,005|2,244,140|
|investments||||1,890||1,890|
|Total income||||1,183,374|1,329,005|2,512,379|
|~Ed%|||||||
|Expenditure
on chan'table||activities:|||||
|Charitable
activities||||653,831|(832)|652,999|
|Expenditure
from other trading activities:|||||||
|Other trading
activities|||10|653,999|1,075,777|1,729,776|
|Total expenditure||||1,307,830|1,074,945|2,382,775|
|Net incomingl(outgoing)||resources before|||||
|transfers||||(124,456)|254,060|129,604|
|Gross transfers
between||funds||261,034|(261,034)||
|Net income/(expenditure)||for the year/|||||
|Net movement
in funds||||136,578|(6,974)|129,604|
|Funds balances at 01 January 2019||||201,424|22,791|224,215|
|Funds balances at 31 December 2019||||338,002|15,817|353,819|
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|||||||Notes|2021|2019|
|---|---|---|---|---|---|---|---|---|
|||||||||6|
|Cash flows from operating|||activities||||||
|Cash generated
from||operations||||26|4,842|254,220|
|Investing|activities||||||||
|Purchase|oftangible|fixed assets||||15|(2,160)|(10,060)|
|Interest received||||||6|1,196|1,890|
|Net cash|generated|from/(used||in) investing||activities|(964)|(8,170)|
|Net increase in cash||and cash||equivalents|||3,878|246,050|
|Cash and|cash equivalents||at beginning||ofperiod||698,758|452,709|
|Cash and|cash equivalents||at end of||period|27|702,636|698,759|
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|3|Donations|and legacies||Unrestricted|Designated|Period ended 31|Year ended 31|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|March 2021|December 2019|
|||||6|||6|
||Grants receivable for core||activities|11,213||11,213||
||Forthe year ended 31December 2019|||||||
||Grants receivable for core activities|||||||
||Coronavirus|Job Retention|Scheme Grant|11,213||11,213||
|4|Charitable|activities||Conference|Other|Period ended 31|Year ended 31|
||||Memberships|and Training|activities|March 2021|December 2019|
||||6|6|6|6||
||Membership|income|284,430|||284,430|263,497|
||Conference|income|||||371|
||Training
income||||||(400)|
||Consultancy|income|||3,787|3,787|2,824|
||Other income||||||57|
||||284,430||3,787|288,217|266,349|
||Forthe year ended 31December 2019|||||||
||Membership|income|263,497||||263,497|
||Conference|income||371|||371|
||Training
income||||(400)||(400)|
||Consultancy|income|||2,824||2,824|
||Other income||||57||57|
||||263,497|371|2,481||266,349|
|5|Other trading activities|||Unrestricted|Designated|Period ended 31|Year ended 31|
|||||Funds|Funds|March 2021|December 2019|
|||||6|6|6|5|
||income from|trading activities||644,133|948,465|1,592,598|2,243,995|
||Website income||||||145|
|||||644,133|948,465|1,592,598|2,244,140|
||For the year|ended 31 December 2019||915,135|1,329,005||2,244,140|
|6|Investments|||Unrestricted|Designated|Period ended 31|Year ended 31|
|||||Funds|Funds|March 2021|December 2019|
|||||6|5|6||
||Interest receivable|||1,196||1,196|1,890|
||For the year|ended 31 December 2019||1,890|||1,890|
##
##
|7|Expenditure|Expenditure||||||Period ended 31|Year ended 31|
|---|---|---|---|---|---|---|---|---|---|
||||||StaffCosts|Premises Costs|Other Costs|March 2021|December 2019|
|||||||8|6|||
||Expenditure||on charitable||activities:|||||
||Charitable||activities||467,708|13,404|239,356|720,468|652,999|
||Total expenditure||||467,708|13,404|239,356|720,468|652,999|
||Prior financial year|||||||||
||Expenditure||on charitable||activities:|||||
||Charitable||activities||376,537|13,581|262,881||652,999|
||Total expenditure||||376,537|13,581|262,881||652,999|
|8|Charitable|activities||||Conference|Other|Period ended 31|Year ended 31|
||||||Memberships|and Training|Activities|March 2021|December 2019|
||||||6|6|K|6|6|
||Conference||expenses|||467||467||
||Training costs|||||(11,562)||(11,562)|(1,132)|
||Marketing||||23,248|1,995||25,243|31,056|
||Special Interest Group costs||||||297|297|1,721|
||Otherexpenses||||||||1,823|
||||||23,248|(9,100)|297|14,445|33,468|
||Share ofsupport costs (see note|||||||||
||9)||||660,443||8,793|669,236|584,817|
||Share ofgovernance|||costs|(see|||||
||note 9)||||36,304||483|36,787|34,714|
||||||719,995|(9,100)|9,573|720,468|652,999|
||Analysis
by||fund|||||||
||Unrestricted||Funds||719,995|(38,254)|9,573|691,314||
||Designated|Funds||||29,154||29,154||
||||||719,995|(9,100)|9,573|720,468||
||Forthe year||ended 31December 2019|||||||
||Unrestricted||Funds||644,335|181|9,315||653,831|
||Designated|Funds|||(832)||||(832)|
||||||643,503|181|9,315||652,999|
##
##
|Support Costs||||||||Support|Governance|Period ended 31|Period ended 31|Year ended 31|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||costs|costs||March 2021|December 2019|
|||||||||6|6||f||
|Staffcosts|||||||467,708||||467,708|376,537|
|Staff training
and other|staff costs|||||||2,828|||2,828|2,990|
|Depreciation||||||||33,436|||33,436|25,658|
|Rent and service charge costs||||||||43,169|||43,169|38,973|
|Premises costs||||||||13,404|||13,404|13,581|
|Associate Practitioner costs||||||||(7,067)|||(7,067)|(460)|
|Travel and subsistence|costs|||||||2,306|||2,306|7,563|
|Computer
and website|costs|||||||58,629|||58,629|41,750|
|Oflice costs||||||||26,850|||26,850|32,062|
|Bad debt write offand provision||||||||||||16,595|
|VAT Partial exemption||||||||24,972|||24,972|23,496|
|Trustee expenses||||||||150|||150|2,623|
|Bank and finance charges||||||||2,651|||2,651|3,449|
|Charitable
Donations||||||||200|||200||
|Audit fees|||||||||7,000||7,000|11,675|
|Legal and professional|costs||||||||22,721||22,721|15,035|
|Governance
costs|||||||||7,066||7,066|8,004|
||||||||669,236||36,787||706,023|619,531|
|Governance
costs include||fees|paid to the Auditors|||for|audit services
in relation to the Charitable||||Company.|Audit services
in|
|relation to the Trading Subsidiary||||are included|within|Expenditure||from trading|activities (Note 10below).||||
|Other trading activities|||||||Unrestricted||Designated|Period ended 31||Year ended 31|
|||||||||Funds|Funds|March 2021||December 2019|
|||||||||6|6||6|f|
|Expenditure
from trading|activities||||||473,746||738,436||1,212,182|1,729,776|
|Forthe year ended 31 December||||2019|||653,999||1,075,777|||1,729,776|
|Net movement
in funds||||||||||Period ended 31||Year ended 31|
|||||||||||March 2021||December 2019|
|Net movement
in funds|is|stated|after charging/(crediting):||||||||6|E|
|Depreciation
ofowned|tangible||fixed assets||||||||6,106|3,794|
|Amorlisation
ofintangible||assets|||||||||27,330|21,864|
|Operating
lease charges|||||||||||41,756|30,683|
|Audit ofthe charitable|group's||annual accounts||||||||8,950|11,175|
##
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##
|13|Employees|Employees|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||Number ofemployees|||||||Period ended 31||Year ended 31|
||||||||||March 2021|December 2019|
||The average
monthly|number||ofemployees|during the period was:||||Number|Number|
||Direct charitable
and|support||staff|||||14||
||Employment
Costs|(Group)||||||Pediod ended 31||Year ended 31|
||||||||||March 2021|December 2019|
||||||||||f||
||Wages and salaries||||||||618,299|482,657|
||Social security costs||||||||59,930|46,934|
||Other pension costs||||||||61,903|50,896|
||||||||||740,132|580,487|
||Employment
Costs (Charity)|||||||Period ended 31||Year ended 31|
||||||||||March 2021|December 2019|
||||||||||6|6|
||Wages and salaries||||||||385,135|310,641|
||Social security costs||||||||37,686|30,936|
||Other pension costs||||||||44,887|34,960|
||||||||||467,708|376,537|
||The number ofemployees||whose remuneration|||for the period was f60,000or more|were:|Period ended 31||Year ended 31|
||||||||||March 2021|December 2019|
||F70,001 - 680,000||||||||||
||f90,001 - 6100,000||||||||||
||6130,001 - f140,000||||||||||
||Contributions
for the period||totalling 627,863|||(2019:F11,144)were made to defined|contribution||pension schemes on behalf of||
||employees
whose emoluments|||exceed 660,000.|||||||
|14|Intangible assets||||||||Software|Total|
||Group and Charity||||||||f|6|
||Cost||||||||||
||At 01 January 2020 and 31||March 2021||||||109,322|109,322|
||Amortisation||||||||||
||At 01 January 2020||||||||43,729|43,729|
||Amortisation
charge for the||period||||||27,330|27,330|
||At 31 March 2021||||||||71,059|71,059|
||Net book value||||||||||
||At 31 March 2021||||||||38,263|38,263|
||At 31 December 2019||||||||65,593|65,593|
##
##
|ES TO THE FINANCIAL STATEMENTS
THE 15MONTH PERIOD ENDED 31MARCH|2021|||
|---|---|---|---|
|Tangible assets|Fixtures and|Computers|Total|
||Fittings|||
|Group and Charity|6|||
|Cost||||
|At 01January 2020|38,686|15,557|54,243|
|Additions||2,160|2,160|
|Disposals|(21,825)|(677)|(22,502)|
|At 31 March 2021|16,861|17,040|33,901|
|Depreciation||||
|At 01 January 2020|36,180|6,419|42,599|
|Depreciation
charge for the period|1,824|4,282|6,106|
|Disposals|(21,825)|(677)|(22,502)|
|At 31 March 2021|16,179|10,024|26,203|
|Net book value||||
|At 31 March 2021|682|7,016|7,698|
|At 31 December 2019|2,506|9, 'I 38|11,644|
##
||||||||
|---|---|---|---|---|---|---|
|Debtors|||Group||Charity||
||||2021|2019|2021|2019|
||||f||6|6|
|Trade debtors|||152,122|239,052|540|4,936|
|Amounts
owed by group undertakings|||||23,302||
|Other debtors|||214,546|436,573||55,358|
|Prepayments|and accrued income||56,863|44,216|22,989|17,010|
||||423,531|719,841|46,831|77,304|
|Creditors: amounts||falling due within one year|Group||Charity||
||||2021|2019|2021|2019|
||||6||6|f|
|Other taxation|and social security||66,244|114,540|28,130|13,959|
|Deferred income (see||Note 19)|390,228|370,073|97,055|97,848|
|Trade creditors|||125,262|172,405|31,673|15,529|
|Amounts
owed to group undertakings|||||202,771|280,009|
|Other creditors|||8,827|6,101|8,827|6,101|
|Accruals|||267,174|478,899|16,661|47,975|
||||857,735|1,142,018|385,117|461,421|
##
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|21|Designated
Funds (continued)|Designated
Funds (continued)|||At|01|January|January||Incoming|Incoming|||Resources||||At 31 March|At 31 March|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2020||resources||||expended|Transfers||||2021|
||Charity||||||||||||||||||f|
||Training - SRMA Supply|||||||||||||(29,154)||29,154||||
||Training - Clerking
Programme||||||(32,076)|||||||||32,076||||
||||||||(32,076)|||||||(29,154)||61,230||||
|||||At||01January||||Incoming||||Resources|||At|31|December|
|||||||||2019||resources||||expended|Transfers||||2019|
||Charity|||||||6|||6|||f||6|||6|
||Training - SRMA (Pilot Scheme)||||||4,170|||||||||(4,170)||||
||Training - SEA Grant|||||||||||||833||(833)||||
||Training - Clerking
Programme||||||(32,076)||||||||||||(32,076)|
||||||||(27,906)|||||||833||(5,003)|||(32,076)|
||Description ofDesignated|Funds:||||||||||||||||||
||Training - SRMA (Pilot Scheme) relates|||||to funds received towards the||||||DfE School Efficiency Advisor Pilot.||||||||
||Training
- SRMA Induction|&|Accreditation||||relates||to|funds received||in conjunction
with the|||contract awarded|||to|ISBLfrom|
||DIE to induct and underlake|all|accreditation||||of|School Resource Management||||||Advisers
(SRMAs).||||||
||Training - SRMA Deployment||relates||to|funds||received||in conjunction||with the contract awarded|||to|ISBLby DfE||to supply
and||
||manage SRMAs deployments.|||||||||||||||||||
||Training
- Clerking
Programme||relates|||to funds received,
in conjunction|||||||with another
organisation|||(Confederation|||of School|
||Trusts) to deliver training
and|accreditation||||to|School Clerks.|||||||||||||
||Training - DfE - ICFP Contract||relates||to funds|||received,
in conjunction|||||with the contract awarded|||by DfE to ISBL,to develop||||
||and deliver workshops
and webinars|||on|ICFP which commenced
from||||||November 2019.|||||||||
|2|Analysis of net assets between||funds|||||||||||Unrestricted|Designated||Period||ended 31|
|||||||||||||||Funds||Funds||March 2021||
||Group|||||||||||||6||6|||6|
||Fund balances at 31 March 2021 are|||represented||||by:||||||||||||
||Intangible assets|||||||||||||38,263|||||38,263|
||Tangible assets|||||||||||||7,698|||||7,698|
||Current assetsl(liabilities)|||||||||||||268,432|||||268,432|
|||||||||||||||314,393|||||314,393|
||||||||||||||Unrestricted
Designated||||Year||ended 31|
|||||||||||||||Funds||Funds|December 2019|||
||Group|||||||||||||6||6|||6|
||Fund balances at 31 December 2019|||are represented|||||by:|||||||||||
||Intangible assets|||||||||||||65,593|||||65,593|
||Tangible assets|||||||||||||11,644|||||11,644|
||Current assets/(liabilities)|||||||||||||260,765||15,817|||276,582|
|||||||||||||||338,002||15,817|||353,819|
##
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##
##
|OR|THE 15MONTH PERIOD ENDED 31MA|RC|H 2021||||
|---|---|---|---|---|---|---|
|22|Analysis ofnet assets between funds (cont'd)|||Unrestricted|Designated|Period ended 31|
|||||Funds|Funds|March 2021|
||Chadity|||6|6|6|
||Fund balances at 31 March 2021 are represented|by:|||||
||Intangible assets|||38,263||38,263|
||Tangible assets|||7,698||7,698|
||Fixed Asset Investments|||1||1|
||Current assets/(liabilities)|||(60,479)||(60,479)|
|||||(14,517)||(14,517)|
|||||Unrestricted|Designated|Year ended 31|
|||||Funds|Funds|December 2019|
||Charity|||6|6|6|
||Fund balances at 31 December 2019are represented||by:||||
||Intangible assets|||65,593||65,593|
||Tangible assets|||11,644||11,644|
||Fixed Asset Investments|||1||1|
||Current assets/(liabilities)|||(104,506)|(32,076)|(136,582)|
|||||(27,268)|(32,076)|(59,344)|
##
|Operating
lease commitments
Lessee
At the reporting
end date the charitable
group
had outstanding
cancellable
operating
leases, which fall due as follows:|commitments
for future
minimum
lease payments|under
non-|
|---|---|---|
|Group and charity|Other||
||2021|2019|
|Expiry date:|6|f|
|Within one year|34,401|32,963|
|Between two and five years|76,289|114,378|
||110,690|147,341|
##
|OR|THE 15MONTH PERIOD END|ED 31M|ARCH 2021|||
|---|---|---|---|---|---|
|24|Related party transactions|||||
||Remuneration
of key management|personnel||Period ended 31|Year ended 31|
|||||March 2021|December 2019|
||The remuneration
of key management|personnel|isas follows:|E|E|
||Aggregate
compensation|||255,492|187,988|
##
##
##
##
##
|26|Cash generated
from/(absorbed|by) operations|by) operations||2021|2019|
|---|---|---|---|---|---|---|
||Group||||6||
||(Deficit)/surplus
for the period||||(39,426)|129,604|
||Adjustments
for:||||||
||Investment
income recognised|in statement|offinancial|activities|(1,196)|(1,890)|
||Amortisation
and impairment
of|intangible|assets||27,330|21,864|
||Depreciation
and impairment
oftangible gxed assets||||6,106|3,794|
||Movements
in working
capital:||||||
||Decrease/(increase)
in debtors||||296,310|(366,774)|
||(Decrease)fincrease
in creditors||||(284,282)|467,622|
||Cash generated
from operations||||4,842|254,220|
|27|Analysis ofcash and cash equivalents
Group||||2021
6|2019
f|
||Cash in hand and at bank||||702,636|698,759|
||Total cash and cash equivalents||||702,636|698,759|