INSTITUTE OF SCHOOL BUSINESS LEADERSHIP ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charfty Reglstratlon No. 1114623 Company Regl8tration No. 03425492 (England and Wales) INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (Acom any Llmlted by Guarantee) Contents Page Legal and Administrative Informatlon Trustees, Report (including Directors, Report and Strate8ic Report) Statement of trustees, responsibilltles 10 Independent auditor's report 11 Consolidated Statement of Financial Actlvities 14 Charlty and Consolidated Balance Sheets 16 Consolldated Statement of Cash Flows 17 Notes to the financial statements 18 **INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited by Guarantee)** 1 ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees and Directors**|Paul Armstrong|| |---|---|---| ||Debra Beazer|| ||Nigel Brunning|| ||Helen Burge|| ||Matthew Burrell|Chair of Trustees| ||Cheryl Campbell|| ||Jonathan Coates|| ||Gary Corban|Resigned 12 February 2024| ||Wendy Farrier|| ||Luci Jones|| ||Stephen Lester|| ||Ben March|| ||Stephen Rayner|Resigned 24 March 2024| ||Yvonne Spencer|Resigned 19October 2023| ||Emma Swann|Appointed 27 March 2024| ||Russell Dalton|Appointed 27 March 2024| ||Samantha Finch|Appointed 27 March 2024| ||BenedicteYue|Appointed 27 March 2024| ||Sandy Tomlinson|Appointed 21 March 2024| |**Chief Executive**|Stephen Morales|| |**Company Secretary**|Stephen Morales|| |**Charity number**|1114623|| |**Company number**|3425492|| |**Principal address and registered office**|Highdown House|| ||11 Highdown Road|| ||Leamington Spa|| ||CV31 1XT|| |**Auditor**|UHY Hacker Young (Birmingham) LLP|| ||9 - 11 Vittoria Street|| ||Birmingham|| ||B1 3ND|| |**Bankers**|The Royal Bank of Scotland plc|| ||757 Attercliffe Road|| ||Sheffield|| ||S9 3RF|| INSTITUTE OF SCHOOL BUSINE55 LEADERSHIP Acom Limited Guarantee TRUSTEES, REPORT IINCIUDING DIRE￿oR5, REPORT AND STrATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2014 The Trustees present thelr report and consolldated flnan¢lal statements lor the year ended 31 March 2024. The flnandal statements have been prepared In accordance wlth the accountlng polleles set out In note I to the accounts and comply with the charftable group'5 Memorandum and Artlcles of Association. the Companles Art 2006 and "Accountlng and Reporti￿ by Charltles: Statement of Recommended Prartlce appllcable to charltle5 preparin8 thelr accounts In accordancÈ with the Flnanclal Reporting Stsnd#rd appllcable In the UK and Republlc of Ireland (FR5 1021" leffectlve l January 20191. T￿ste￿, ex*￿tIVe $ummary ISBL'S core purpose 15 to support contlnuous professional development, promote career asplratlon and Inspire new entrants to the Khool buslness professlon. Our value proposltlon15 desl8ned wlth the followlng maln aims, always wlth a golden thread of Improvement but with 5UPPOrt and care at the heart of our sÈrvlce'. • We set clear professlonal expectations throu8h natlonally recognlsed standards We provlde ac￿5 to contlnulng professlonal development ICPDI Our pro8rammes are de51gned to rneet the need5 of a range of ab115tles and spedallst areas • We guide colleagues through a professional development journey usin8 career pathways • We encourage the most experienced and well-9uallfTed practitioners to share knowledge with colleagues • We host events to brlng colleagues t¢4ether and learn frorn practitioner and sector *xpÈrts We help collea8ues under5tsnd the pollcy landscape and the Impact It may have on thelr role and settin8 Isource,. IS8L Strategy Framework) All of the actlvity listed below Is un(lerplnned by thls strate8lc Intent. Membershlp Mernbership h¥s remained steady throughout 2023124 with the Introduttlon of new ¢ate8orles In¢ludlng a trust group offer and re8lonal group scheme, Membershlp for both these cate8ories has grown by 270% and 33% respectlvely. We have a target of IO% new membershlp In 2024125. Thls pace of membershlp growth wlll support our appllcatlon for hartered membershlp rtatus by 2026. Trnlnlnz and prof•sslon•l development ISBL profe551onal 5tandard5 (revised In 2023) underpln a portfollo ot quallficatlons overseen by a natlonal boaf(i hosted by ISBL. We work In rollaboratlon with tralnlng provlders, unlversttles and professlonal bodies In the desSgn and dellvery of a range of quallfi¢atlons and courses. These Include: • Level 2 and 3 Flnance In Education qualifications CIPFA Dlploma In School Financlal and Operatlonal Leadership CMI Level 5 Diploma in Mana8ement and Leadership Certificate In Strate8lc Educational Leadershlp CIPD Level 5 Assoclate Diploma In People Management for School 8uslness Profes5iona15 CIPD Level 7 Athanced Olploma in People Mana8ement for School 8usine5s Professlonals CIPFA Certlflcate In Publ1¢ Sector Asset Management for School Buslness Profes51onals INSTITitrE OF SCHOOL BUSINESS LEADERSHIP A Company Limited Guarantee TRUStEES' REPORT (INCLUDING DIRECTORS. REpoiYf AND STrATEGIC REPORn FOR THE YEAR ENDED 31 MARCH Z024 (cont'dl • CIPS Award for School Bu51ne55 Profe551onals • CMI Level S Certitlcate In Project Management Level 5 Dlploma In Dlgltal Leamlrq Deslgn L4 ILM Dlploma for School Buslness Managers • LS ILM Dlploma for School Buslnw Loaders Level 4 School Buslnes5 Professlonal Apprentlceshlp ISBPAI Level 6 Chartered Manager De8ree Apwentlceshlp ICMDAI Level 7 5enlor Leadershlp (Degree) Apprenticeship Tralnlng Income grew by 8.6% In 2023124 and ts a reflertlon of Increased en8a8ement In our professlonal dÈvèlopment offer. In addltlon, we have seen slgnlflcant growth in the demand for our inte8rated currlculum and financlal plannlni toDls-ASOT and ASOT Essentlals Iwith 117 ASOTsales and 35 ASOT Essentials 5ale51. In 2023. we introdueed a new self-assessment tool and certlfi¢atlon pathway. Slnce hunch, 350 5elf4S5es5ments have been completed, wlth SO prictlttoneTrlevel accredttotlons beln8 awarded, Includlni two at As50¢1ate level, 22 at Leid l•v•l •nd 26 at Stratéilc level. CoNull•ncy ••r¥lc We have developed a panel of on4emand experts throu8h our subject matter experts and consultancy panel. These hlih skilled Individuals are avallable to 5UPPOrt schools and trusts wlth any aspect of thelr operatlon includln8 change management, finance. estates, technolo8yi procurement and legal issues. In November 2023, we dellvered a very successful annual natlonal conference wtth deletye satlsfartlon at i(wJ%. Our carousel of regional events extended to ensure vlslblllty In the followlna reglons: Elst of En8land (Norfolkl- Apdl 2023 • South West IBrfstol}- May 1023 • London and the South E&5t- Saptember 2023 • London and the South East- F•bruary 2024 North West- March 2024 2023 culmln8ted wlth our natlonal award5 event In collaboration with GovNet and hosted at the House of Lord5, where we were able to celebrate the success at both an Indfvldual and an organlsatlonal I￿e1. We contlnue to work wlth strateglc partners to support and attend thelr events (see sectlon 71 and ensure our attendan￿ at local and reglonal network leaders. events throu8lKiut the year to provlde Informatlon on professlon31 developrnent and career pathways for the sector. RI￿r¢h 5.1 Op•rntlon•l Exc4llqnt• Throughout the flrst half of 2024, we were engaged In deep re5e?rch Into the appllcablllty of Operatlonal Excellence IOpEx) to the educatlon system. This research Indude5 an Intematlonal dlmenslon with PerwtI￿ and Inslghts from the US, Australia and New Zealand. Later In 2024, we wlll publtsh the findlngs and launch an educatlon-5peclflc OpEx framework. This means that alongslde professlonal standards, we wlll set outthe in8redlents for both Indlvldual and oraanlsatlonal-level success. INSTITUTE OF SCHOOL BUSINESS LEADERSHIP Acom an Llmlted by Guarantee TRUSTEES. REPORT IINCLUDIP4G DIREcfoRS' REPORT AND sfRATEGIC REPORT) FOR THE YFAR ENDED 31 MARCH 2024 toTht'dl Pay Iramework During the flnanclal year 2023124. we conducted exten51ve research to underpin our thlnkSn8 in the de518n phase of a sthool buslness profe551onal ISBPI pay framework. The pay framework wa5 subsequently pub115hed In July 2024, 5.3 Equlty. dlvefslty and Ind￿lon Impa¢t Qvaluatlon As part of an equlty, dlversity and Incluslon {EDII fellowshlp programme with the Instltute for Educational & Soclal Equlty. ISBL'S CEO has produced a report evaluatln8 IS8L's EDI work, Includlng an Impact assessment of varlou5 inltlatlve5, forum5, survey5 and events. Pollcv ISBL contlnues to engage with the Government and stakeholders In the followln8 key policy area5.' Workforce capability Slmpllfication lassurance and regulatoryl • School ￿source management • Funding Commerdal Iproeurement capabllltyl • Estates Nallon•l ￿sIbIlIty In 2023124, ISBL enjoyed hlgh-proflle visibillty at the foll¢)wln8 natlonal events: Schools and Academies Show- London and Birmlngham Department for Educatlon IDFEI 5choDI Resource Management Summlt Optimu5 Educatlon MAT Excellence Awards • National Schools Awards Optlmus Educatlon- The MAT Show • MarCommEd Conference Intern￿lon￿l ISBL contlnues to collaborate wlth Internatlonal School leaders across a ranBe of lurlsdlrtlons. In 2023124, we were Involved In the followlng collaboratlve Inltlatlves,. Attendanco and speaker sessions at ASBO Internatlonal Conftrence and Executive Leader Forum Jolnt research wlth ASBO International into Operational Excellence • Collal>oratlon wlth the Japanese ministry of education as part of thelr research Into global approaches to school buslness leadershlp. It Is worth notlng that accordlng to thelr research findlni5, ISBL'S approach underplnned by dearly deff ned professional standard5 was amongst the most advanced In the world. The Volce ISBL contlnue5 to pub115h terrnly our member magailne Yhe Volce", which provldes Insl8hts on professlonal development, practltloner case studles and prartlcal Buldance from sector speclallsts In¢ludln8 our approved partners. io Commerclal partner5hlps We malntained sponsor5hlp arrangements wlth 32 approved partners, generatln8 Income of over £90k INSTrniTE OF SCHOOL BUSINESS LEADERSHIP Acom Limited Guarantee) TRU5fEE5' REPORT {INCWDING DIRECTORS, REPORT AND STRATEGIC REPORn FOR THE YEAR ENDED 31 MARCH 2024 Government eontrncts We contlnue to deliver a serles ofgovernment contracts supportln8 the 5ertoV5 capabillty In scknol resource management. Include: • School Resource M4n4ernent Adviser ISR￿) programme • CFO mentorlng deployments vla the SRMA pro8ramme dellvery CIPFA level 7 DfE tloséd cohorts (75% funded by DfE bursarfe5} DuTln8 the 2023124 year. ISBL retalned on average across the year 115 SRMAS. These SRMAS undertook 473 deployment5, of whlch 55 were CFO mentorln8 deployments. whlch equates to an aver88È of four deployments. There Is contlnued demand for sthool and trust deployrnents wlth slBnlficant srowth thls year for local authorfty deployments, ISBL Is pleased to support thls system leader-drlven Inltlatlve and re¢elve hlth levels of posltlve feedback from partlclpant school and trust leaders. •mbltlon$ Underplnned by our strate8y framework de5i¥ned to support contlnuous prolessloMI developm•nti promDt• career asplratlon, and Insplre new entrants to the school buslness professlon, we alm to: Increasè membershlp by IO% In 2024125 • Increase the number of Fellows by 20X • stt more practltloners pursue certfficatlon contlnue our journey to chartered status • Introduce a new C-sulte qualSflcation Introduce a new Operation31 Excdlence accredttation scheme to replace Schoolmark • contlnue our Internatlonal collaboration work wlth new opportunltles ernergln8 In Scotland, Dubal, Japan, the US and Australla develop a new relationshlp wlth the future government host an event focused Dn soft leadershlp s*llls Includlng self-awareness and 8motk*nal intelllgence • develop an event dedlcated to I￿lrIn￿$tudent-le￿l practltloners INSTITUTE OF SCHOOL BUSINESS LEADERSHIP Acom Umlted b Guarantee) TRUSTEES. REPORT IINCLUDING DIREcfoRS' REPORT AND STrATEGIC RE14)RT) FOR THE YEAR ENDED 31 MARC>1 2024 If•nt'dl Reserve5 pollry The Trustees belleve the level of reserves wlthln the organisation to be at an appropriate level for an or£anlsatlon of Its slze and turnover. The current level gives the organ15atlon a modest level of working capltal to furthèr grow its service5 to members In the form of course5 Ind wlder opportunities but to retsln a degree of caution so a5 not to overcommlt the organisation. R15k management The Trustees assessed the major rlsks to whlch the charitable 8roup Is exposed and are satisfied that 5y5tem5 are In place to mltlgate exposure to the major rlsk5. The major rlsk fated by the organlsatlon relates to educatlon pollcy reform uncertainty and the Impact on the SBP professlon. Tlie Trustees dre aware of Ihe need5 to safeguard a&dinst such rlsks and re8ularly revlew the organisation to ensure that It has sufflclent strategies In place to mltl8ate any risks. Succe551on plannlng at board level 15 a 5hort-terni risk resultlng from the length of tenure of a key Indlvldual. The Trustees hav8 Identlfled ènd are Implementin8 actlons to address thls. Rlsk rnltlgatlon As a thlrd sector organisati()n, 15BL has a responsibility not only to clearly artlculat? its strategic vlslon but also to hl8hli8ht potential risks to these ambltion5. The Trustees maintsin a reglster of rlsks to whith1SBL15 exposed, In partlcular those related to the reputatlon, operations, and finances of IS8L, and are 5at15fled that systems ahd procedures are in Pla￿ to mltl8ate exposure. OPer￿Onal ISBL Is cornmitted to optlmlslng operatlonal effectlveness and reco8nlses the rlsks assoclated wlth ne81i8ence in any of the followlng areas., ystems and processes must be clear, robust and workable. Staff structures and outsourcinB afran8ements must provlde approprlate leve15 of competency and cap41cIty. The workin8 envlronment must be conducl¥¥ to productlvlty and staff wellbelng. EffeLtlve perfomiance management must ensure staff engaBerr,ent and career developmerrt. Flnancl•l Beyond Its cornmitment to assurance. regularlty and proprlety, ISBL must demonstrate hlgh levels of flnanclal ac¢ountabillty nd transparency. as thls Is at the Core of school busine55 leadership prartlce. ISBL therefore takes very serlously Its responsibilityto Its subscrlblng members far the effective 5afeguardln8 of all fund5. Management Information system5 are revlewed on a rè8ular basis to ensure fltness for purpose. We have en8a8ed the 5ervlees of a reputable audlt flrm to carry out our annual audlt and asslst wlth the annual report, and, In addltlon, we have committed to perlodlc Internal audits. The Trustees have cre8ted a ftnance subcommlttee that presides overthe detall of flnanclal reports and perlodlc financlal monltorlng. Fundrnllni praclkes The maln focu5 for the group In respect of ralslng funds is through its membershlp and through its varlous tralnlng programme5. As a result, the group does not engage In any dlrect or Indlrect fundr8isin8 practlce5 wSth the general publlc or select 8roup5, The group doe5 not use any professlonal fundra15ers or Involve any commerclal partlclpator5. No complalnts have been recelved in thls regard. The group has not slEned up to any Fundraising Code of Practlce as it does not See thls a5 relevant to its artivities; however, If deemed relevant. it would revSew thls. INsllTirfE OF SCHOOL BUSINESS LEADERSHIP Limited Guarantee TrUSIEES' REPORT IINCLUDING DIREUORS REPORT AND STRATEGIC REPORn FOR THE YEAR ENDED 31 MARCH 2024 (rmed) ExterTh•l reputatlon Our reputatlon hln8e5 on the Inte8rlty of our wmmunication. We must ensure we communlcate authoritatlvely In the areas in whkh we are quallfied to da 50. Thls wlll be further underplnned a5 we develop our research capablS1ty. Whllst we do not have dlrect natlonal competltor, many of the Instltutes and educatlon sep41ce provlders occa51onally overlap with our artivilie5. By developlng closer worklng relatlonshlps wlth key stakèholders and partners, we hwe been able to eradlcate th15 o￿laP and ensure a $ufFlclently dlfferentlated offerto mltlgate aylnst any potentlal duplkatlon. We are working with reglonal school bu51ne55 network leaders to ensure they are clear about the distinction between ISBL as profe55ional body and the local support offered to thelr members through reglonal activity. Gi¥¥ern•n¢è Strow govemance Is Important In any organlsation, but arguably of partlcular Importan¢e In the charlty sector, where the oblects of the organlsation are clearly defined and for publlc benefit. It 15 essential that In thls context Trustees dtstharge their governance dutles wlth Inte8rlty and absolute Smpathllty. ft Is Important that they understand the scope and limltatlons of thèlr responslblllty and that they hold the Chlef Executl￿ to ccount through effectlve performance management and overslght of adherence to the organlsatlon's ststutory responslbllEtle5. Loni-twm plans for th• futur• ISBL plan5 to contlnue the actlvltles outllned under the Obledlves of the Charlty and "Objectlves for 2024125" sectlons of thls do¢umenL enhance the current offer, and embrace technologlcal advancements. We contlnue to bulld stron8 rélatlonshlps with all educatlon stskeholders, and we are Committed to workin8 wlth the Department for Education and Indeed other government agencles, Irrespective of the political orSentstlon of the Govemment. We are committed to ralsln8 the profile and status of school buslne5s leadershlp waclke and ensurlng that St is seen credlble professlon In Its own right. Stru￿re. ¥ovèm•nce and management 6o¥ernln8 docum￿¢ company st•tw and consdtutlon The charltsble company is a company Ilmtted by guarantee, whlch was Incorporatod on 27 Aulust 1997, The Tru5tee5, who are also the dlrector5 for th• purpos• of company14w, Hnd WI￿ served durlni the year and up to the dat¢ of sIBnature of the flnJn¢lal statements, were: Paul Armstron8 Debra Beazèr Ni8el ￿unnIng Helen Burge Matthew Burrell Cheryl Campbell Jonathan Coate5 Gary Corban Wendy Farrier Lucl Jone5 Stephen Lester Ben March Stephen Rtyner Yvonne S￿nCer Emmèswan Russell Dalton Samantha Flnch Benedlrt Yue SandyTornllnson Chalr of Trustees Rèslgnèd 12 F•bruary 2024 Reslgned 24 March 2024 Re51gned 31 October 2023 Appolnted 27 March 2024 Appolnted 27 Marth 2024 Appointed 27 March 2024 Appolnted 27 March 2024 Appointed 21 March 2024 INSTrruTE OF SCHOOL 8USINESS LEADERSHIP Acom an Limited by Guaranteel TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORTI FOR THE YEAR ENDED 31 MARCH 2024 lconi'dl The directors of the company are also tharlty Trustees for the pUrF￿se of charty law and under the company's Artldes are known as Trustees and Dlrectors. Under the requirements of the Artides of Association, the member5 of the Trustee Board are elected to serve for a period of three years. after whlch they must be reelected at the next Annual General Meetlng IAGMI or c(Fopted by exi5tlng Trustees until the earller of the next AGM or 12 months from the date of to-option. If any Trustee 15 a corporate bady. it must act throu8h a named representative whose contact detalls are notified to the Trustees. A Trustee who retlres at the AGM may, rf wllllng to act, be re-èlected In accordance wlth the Articles UP to a maxlmum of two further consecutlve terms of offlce and must then not seek further re*lection for a perlod of 12 months, ISBL has a Board of Trustees who meet a mlnlmum of four tlme5 per year and are responsible for the strateglc dlreetlon and policy of the charltable company. The Board of Trustees had 16 member5 at the 31 March 2024. A scheme of delegation Is In place, and day-to-day re5ponsibillty for the provlslon of the services rests wlth the Chlef Executlve. The Chlef Executlve Is responslble for ensurlng that the ¢harity dellvers the ser4kes spetlflèd and that key performance Indlcators are met. Aspects of the charitsble companls work are then monltored on a routlne basls by standing 5ubcommitt8os of the Board of Trustees and ad hoc worklng partles as requlred. The Board of Trustees is made up of prèctisin8 school buslness professionals lor equivalentl and Indlvlduals With relevant protesslonal expertise that will enhance ISBL'S abillty to deliver Its core oblerts. 8oard members complete self.revlew a5ses5ments aaalnst relevant benchmark standards, the results of whlch a￿ dlscussed by the Nomlnatlon5 and Remunentlon Commlttee. Thp Nomlnatlons and Remuneratlon Cufflmlttee then niake tralnln8 and Induttlon recommendations to the Board of Trustees In order to Increase thp Knowled8e, skills and experlence of the Board as a whole. New Trustees undertake an Inductlon workshop coordinated by the Chalr of Trustee5. i'hey are als9 encouraged to famlllarlse themsel¥es wlth the charitable cumpany and the context wlthin whlch St operates through dlalogue wlth the Lhalr of Trustees, the Chair of the Nomlnatlons and Rétnuneratlon Commlttee and the Chlef Executlve of the charity. All new Trustees are each Ilnked wlth an experienced Trustee who supports and guldes them for their inltlal period in thelr role. The Trust￿ have dete￿Ined that the process for maklng decision5 on the pay of staff shall be delegated to a 5taffln8 comm￿tee, There shall be a quorum of three. Trusteos have declded that no Trusteo who Is an employee of IS8L will be a member of any committee that make5 declslons about the pay of other staff. The commlttee shall dècide the pay of all staff bv the effective appllcatlon of the pollcy in all clrcum5tsnces, Includin8 upon appointment and when the staffing 5trurtu changes. In the case of the Chlef Executlve'5 salary review. the two Trustees appolnted to undertake the Chlef Executlve, appralsal wlll make a recommendation about performance pay where the ChSef Executlvels ell8ible. The Chief Executlve Is responslble for the appra15al of all 5tsff and the ￿¢0mMendatIon regardlng performance pay declslons If relevant. However, the Chlef Executlve may delegate responslblllty lor the appralsal of staff but retaln the responslbllity for anv a550dated recommendation regardln8 performance pay decisions or may delegate responsibility in its entlrety for the appralsal of staff and the a550cSated recommendatlon ￿gardIng perfomiance pay declslons. INSTITIITE OF SCHOOL BUSINESS LEADERSHIP Acom Umlted Guarantee) TRusfEES' REPORT (INCWDING DIREcfoRS' REPORT AND 5TRAIEGIC REPORn F(Xt ThE YEAR ENDED 31 MARCH 2024 (a)Nthll In50far as It Is complementary to the charltable tompany's oblerttV￿, ISBL ts 8ukled by both local and natlonal poly. 15BL works closèly wSth the Dopartm•nt far Educatlon And the Educatlon and Sk1115 Fundlnx The repre5entatlpn of lo￿1 and r•£lonil groups wfthln th15 group has woved Invaluable to the charftable company In est•bllshlTr8 Improved Ilnks wlihln the communlty and Identlfylrd relevant pol* dev•k>pmants and prosp@ctl¥e fundlr R¢kntsd ￿rtI Where Tntstees are eonflIct￿ duè to posltlong held wlthln or8anlsatlons or local andlor reqional 8roups, thls confitrt 15 recorded In the charltablè companvs realster rf pecunlary Interests, and tonffllctod Trurtees wlthdraw from dlscusslons arKI dedslon& At the end of 2017, IS8L estsbllsh•d a tradln4 subsldlary, ISBL Tradlnz Llmtted. for the purposes of organlsln8 and rwffilng the tradlry actlvltles prevlously vAthln the matn tharltable company. The trJdln8 company became actl¥e as of 01 January 2018. The results have been Incorporated In th1$ Set of consolklated ftThanclal ststements. DlS¢loJ￿ of •udlt Inform•tlon Each of the Tru5tee5 has conflrmed that there b no Informatlon of whlth they are aw?re whlth15 relevant tt> the #udlL but of thl¢h the JudFtor1s uTrmv•re. They h•¥e further conftrm•d thit they hav• tsken •pproprf•te steps to Id¢ntlfy such r•l•v#nt Infomiatlon and to •stabSlsh thatth• audltor Is •ware of suth Informatlon. Aud*or UHY Hacker Youn8 {Blrmln8haml LLP were appolnted as audltor to the charIta￿e woup and in accordance wlth section 485 UF the Companles Art 2006, a resolutlon proposlng that they be rtrappolnted will be put at the Gener41 Meetln8. The trustees, report was approved bythe Board of Trustees. M•tt Bwrnll th•lr of Trurt••i . 2*9..lJ1 INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited by Guarantee) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 io -rhe trustees, who are also the dlrector5 of In5tltute of School Business Leadership 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 Accountin8 Standards (United Kln8dom Generally AcLepted Accounting Practice). Con)pany Law requires the trustees to prepare financial statements ft)r eacn flnancial year whlch give a true and falr view of the state of affairs of the charitable group and of tlie incoming resources and appllcation of resources. Including the income and expenditure, of the cliaritable group for that year. In preparing these financlal statements, the trustees are requlred to: select suitable accounting policies and then apply them con515tently• • observe the methods and principles in the Charities SORP; make Judgements and estlmates that are reasonable and prudent; • state whether applicable UK Accounting Standards have been followed, subject to any material departures d15closed and explalned in the flnanclal statements; and prepare the financial statements on the 80in8 concern basss unless It Is Inappropriate to presume that the charltable group will continue in operation. The trustees are responsible ft)r keeping adequate accounting records that disclose with reasonable accuracy at any tlme the financial position of the charitsble group and enable them to ensure that the financial statements comply with the Companles Act 2006. They are also responsible for safeguarding the a55ets of the charltable group and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularities. 11 INSTrrurE OF SCHOOL BUSINESS LEADERSHIP (A Conyany Limited by Guarantse) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE INSTrnirE OF SCHOOL BUSINESS LEADERSHIP Opknl¢ We ha* audlled the ffin8ncl818tstsm8nts of Inthrte of sth￿l Bu81n858 L88der8hlp (the (*•Aable ccffipanyl and 5ts subsldlarf8s (the group) for1￿ perfod anded 31 2024 cii¥ tri tlie llnanclal 8tknments, th818ss likely wo Yniild ￿￿ornft 8W8re of It. Also, Ihe risk ol Iiot detrttiwj a malerial misstatement due to fraud is higher Ih8n the risk ol not d8tecbng one Tesuliwig error, as fraud may irivolve delibw?te GOn￿￿M￿t by, for eX￿pIe, fNgery oi intenllonal MI￿presen￿￿On$, or through colu8iM. As part of ￿ audil in ￿rdan￿ *fjlh IU8 (UK). exwdse p￿leSs1(￿al judwent and mantain professlonal 8￿pIle1$M throughout the audit. We a180-. Identify and assess the risks of materfal misstatement of th¢ financ4al statements, whether due to fraud ￿ error, and wform 13 INSTifLrrE OF SCHOOL BUSINESS LEADERSHIP (A Company Limtted by Guarantso) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE INSTITUTE OF SCHOOL BUSINESS LEADERSHIP udl wcedur88 fe8ponth8 to those rf8k8, and obtain ard5t ￿denrA9 Ihatls su11kae￿ and approprfate to kyovlde a basjs trrf our oplnk)n. The rlsk of rd detécling a m*rial rni88tth￿nt r8gulting from fr8ud 18 Trigherthan for on8 rn8ultirfj from ewor, aB may Invd¥* collu8lon, forgery, Intmlonal misrepr68entatlon8, or the Dverth of htsmal (*ntrol. Ob￿n ￿ und8rstsnding of Intemal ¢c￿1rd rebmt to th? audrt kn order lo deslgn •)Jt prDc&Jures that are approprfate In tho clriwmstanc•8, Imrt not forth6 purpox8 of oxpfBBulry an op1n1(￿ on th• •lled¥qneB8 oftho poront ch8rft8blo Comp￿Y group'i intema ontrol. Eva￿* ￿ appro￿￿tene&￿ of •cc(Nmthg wlra8S U88d and th8 r888onablene85 ol ac&￿￿n9 e8timales and relaied dixa08ufBB by trustees. Comauts on th& appropriatene83 ofthe tru&ees' U8e of the Ong concem basis ol xcourity ￿d, based on the audit fftryden obtakN*J. %thether a rnaterfal Unr￿rta1ntyex￿ r*d to events or Cor￿lt￿lnS that may cast wgnillcant doubt on the parent charllabla I￿7panY$ and sThP'S ability to continue as a gc4ng cfjncem. Ifwe condude that a unL%rt8inty exists, we are required to thawaitsntion in our audltor's report to lh8 rnl*d O8dowrès in the financial statements or. rf Such dlsclosuras are to Mod￿ our cwnlon. Our ojndusions we based cm th8 audlt e￿onI% obtaln8d up to the date ol our auditorfs rew)rt. lulurn or c4)ndlllon8 may cau8• tho p&•nt tharitable wnpany group to ceae• io conunue a6 4 gc¥ng (¥n¢xm. E￿luate the overall pM8ntthn, £tr￿re c¥)ntontof the fin￿d81 8t*ments, Indudkng tho dl8cIo8Um, PJKI whethertho Ilnandal 8tatements r•pr88enl the Ir￿￿￿10n$ events In a M￿fi￿that a*lv488 falr pr88entstk)n. We (Thinmmlcata *lth tho$8 ¢horgod qwman￿ rngwdlng, •ncfflg othpA mattern, tho plann￿1 s¢opo and tknlng ofthg audt rthd 3iwificant audlt findlng8, Includlng any 8igniknnt defi(xenGie$ wi intemal ccffltrd that￿￿ durfng our audtt. ol ourr•port ThB report 18 made 801ety to th8 group'$ memb&5, as a body, in accordance Ch*r 3 of ￿16 of the Ccthpanies 2(￿. Our audft vnrk has been undert*en 80 that ￿ mlght state to tho pamnl charltatle group's members those mabrs ￿ we r¢quired to Slats to them in an audltorfs no othw purp08e. To the fulle8t extenl pemiitted by law, vn do not acr¥ ￿ assume msp￿mIllI1ty to anyon• other than the chadlabla company and tho p8rnnt chaitatrk nKmber8 as a bcoy, for aKlit DrK for thi8 reporL orfortho oplnlons ￿ hm forn￿d. Maknkn Wknslon SMi(f &attrtory Auditor UHY Hthryoung {Blmim￿am) LLP Stathy Au(Itor 11 Wrtt(¥la Street BIM￿￿JhaM 813ND UHY H￿k￿Y￿ng {8knMlngham) LLP is eligUp *)r a￿￿ntMent as wJdltorofth8 &roup by vtrtue of IiB ellBibllty for 48 wlkorof a company under of 1212 ofthe Companles Act 2006. INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited by Guarantee CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES (INCORPORATING A CON50LIDATED INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 14 Notes Unrestricted Deslsnated 2024 2023 Funds Funds Total Funds Total Funds Incomlng from: Donations and legacies Income from charitable activities: Charitable activitie5 152,435 152,435 201,176 Income from other tradlng actlvltie5: Other tradin8 activities 913,865 1,050,880 1,964,745 2,100,457 Investments 6,163 6,163 1,662 Total Income 1072 463 2 123 343 2,303,295 Expendlture on: Expendlture on charltsble activltie5: c.haritable activities 666,494 666,494 859,985 Expenditure from other tradlng actlvltles: Other tradln8 activities io 492,426 975,543 1,467,969 I,S04,987 Total expendlture 1,158,920 975 S43 2 134 463 2,364,972 Net In￿MIng/10Uts0InS) resources before transfers {86,457} 75,337 111,1201 161,6771 Gross transfers between funds 21 75,337 175,337) Net expendlture for the yearlNet movement In funds 111,1201 (11,120) {61,677} Funds balances at 31 March 2023 147,509 147,509 209,186 Funds balances at 31 March 2024 136 389 136 389 147 509 The statement of financial actlvities includes all galns and1055e5 recognised in the year. All incominE resources and resources expended relate to contlnulng actlvltles of the group. The statement of fSnancSal actlvltles also complles with the requlrements for an Income and expenditure account under the Charltles Act 2011. INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Llmlted by Guarantee CONSOUDATED STATEMEKf OF HNANaAL AcfNITIES (INCORPORATING A CONSOUDATED INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 15 PRIOR FINANCIAL YEAR Notes Unrestricted Funds Deslsnated Funds 2023 Total Funds Incomln8 from: Donatlons and le8acles Income from charitable activities: Charitable activities 201,176 201,176 Income from other tradin8 actlvltles: Other trading activitles 1.033,618 1,066,839 2.ICKI,457 Investments 1,662 1,662 Total Income Expendlture on: Expenditure on charltable activitie5: Charitable activities 859,985 859,985 Expenditure from other trading activitles: Other tradin8 activities io 476,455 1,028,532 1,504,987 Total •xp•ndfturn Net Incomln81(outyolryl re$ourc•$ b•lorn tranrfers (99.984) 38,307 161.677) Gross transfers between funds 21 38,307 (38,307 Net expendlture for the yearlNet movement In funds (61,6771 (61,677) Funds balances at 31 March 2022 209,186 209,186 Funds balance5 at 31 March 2023 The statement of flnancial actlvlties indudes all gains and losses recognlsed In the year. All incomlng resources and resources expended relate to continuing artmtles of the group. The statement of financlal activities a150 complles with the requirements for an Income and expenditure account underthe Charities Act 2011. INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited by Guarantee) CHARITY AND CONSOLIDATED BAIANCE SHEEfs FOR THE YEAR ENDED 31 MARCH 2024 16 Notes Group 2024 Charlty 2024 Group 2023 Charlty Z023 Flxed assets Intanglble assets Tangible assets Fixed asset Investments 14 40,578 40,578 54.490 54.490 15 16 630 630 40.578 40,579 55.120 55,121 Current assets Debtors 17 828,730 397,748 1.226.478 27,370 1,022,784 47,406 241,490 288,896 Cash at bank and In hand 27 232,188 259.558 415,936 1.438,720 Credltors: amounts falllng due wlthln one year 18 (1.130,667) 1243,4571 11,346,331) 1264,334) Net current assetsllllabllltle5) Total assets less current liabilltles 95￿11 136,389 136,389 16,101 56.680 56.680 92.389 24,562 79.683 79.683 147.509 Net assets 147.509 Income funds Unrestricted funds Other unrestricted funds Deslgnated funds 136.389 56,680 147,509 79,683 21 136 389 147 509 The charitable company Is entltled to the exemption from the audit requlrement contained in sectlon 477 of the Companie5 Act 2006, for the year ended 31 March 2024, although an audlt has been carried out under section 151 of the Charitles Act 2011. No member of the charitable company has dep051ted a notlce, pursuant to section 476, requlrlng an audlt of these flnanclal statements under the requirements of the Charltles Act 2011. The trustees acknowled8e their responslbllities for ensurlng that the group and charitable company keeps accountlng records which comply with section 386 of the Act and for preparin8 financial statements which give a true and fair view of the state of affairs of the group and charitable company as at the end of the financial year and of its incomin8 resources and appllcatlon of resources, Including Its income and expendlture, for the financlal year in accordance with the requlrements of sections 394 and 395 and which otherwlse comply with the requlrements of the Charltles Act 2011 relatinB to financial statements, so far as appllcable to the charltable company. The financial statements have been prepared in accordance with the provlsions applicable to companie5 Subject to the small companies reglme. 25.914 The financial statements on pages 14 to 30 were approved by the Trustees, and authori5ed for Issue on............-..-. and are slgned on thelr behalf by: Matt Burrell Chair of Trustees Helen Bur8e Trustee INSTITillE OF SCHOOL BUSINESS LEADERSHIP A Compan Limited by Guarantee) CONSOLIDATED STATEMEhrr OF CASH FLOWS FOR ThE YEAR ENDED 31 MARCH 2024 17 Notes 2024 2023 Cash flows from operatln8 actlvltles Cash used In operatlons 26 124,351) (275.3381 Investlng artmtles Interest received 6,163 1.662 Net cash generated 6,163 1,662 Net decrease In cash and cash equhAlents I￿,188) (273.676) Cash and cash equlvalents at beginning of perlod 27 415,936 689.612 Cash and cash equlvalents at end of perlod 397,748 415,936 Cash per balance sheet 397,748 415.936 INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Llmited b Guarantee) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18 Atcountlng polldÈs Charitible 8roup infomiatlon Institute of School Business Leader5hlp Is i private company Ilmlted by guarantee Incorporated in England and Wales. ISBL Trading Limlted Is a prlvate company Ilmlted by shares incorporated In England and Wales. The reglstered office for both organlsatlons is $3 8uttS. Coventry, West Mldlands, C￿1 3BH. 1.1 Aceountlni conventlon The financlal statements have been prepared In accordance with the charitable group's Memorandum and Article5 of A550clatlon, the Companles Act 21x16 and "A¢¢ountlng and Reporting by Charltles: Statemeiit of Recommended Practice appllcable to charities prepaflng thelr accounts In accordance with the Flnanclal Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 1021" (effective l January 20191. The charitable group Is a Publlc Benefit Entty as defined by FRS 102. I'he financial statement5 are prepared In sterlln& whlch is the functlonal currency of the ¢harltable group. Monétsry amounts In these financlal statement5 Ire rounded to the nearest £. The flnancial statements have been prepared under the historical cost convention. The princlpal accounting pollcles adopted are set out below. 1.2 Group Ilnandal statements The flnanclal statements consolldate the results of the charSty and It5 wholly owned subsldiary ISBL Trading Limlted on a Ilne-by-line basis. A separaté Statement of Financlal Actlvities and Income and Expenditure Account for the charity has not been presented because the charity has tsken advantage of the exEmptlon afforded by Companies Act 2006. s.408. 1.3 Golni conorn The current yearfs small deficit shows signlflcant improvement on the prlor year and follows careful and consldered Investment by tho Board in Significant reven8lneerlng and addltlonal system irifrastructure following the concluslon of outsourcii)g arrangements and the reintroductlon of dlrect dellvery and oversl8ht of all Cofe actlvltles by employed members of the ISBL team. 'rhe Board worked clostly wlth the ISBL Executlve Team to determine i revlsed structure and development of new roles to 5UPPOrt the ambltlofis for bu5ines5 growth. These included the appolntment of a Head of Events and the internal promotlon of the Head of Professlonal Development to the role of Dlrector of Profe551onal Development and Sector Engagement. The new infrastructure and clear priorlties afforded to each member of the team has seen the effectlve delivery of key prolects during the year ended 31 March 2024. The new systems pro¥lde flmi foundatlons for the buslness to now further develop its a¢qulsltlon and growth plans wlth prioritisatlon on reglonal network and trust or8anlsatlon enga8ÈmÈnt ovèr the next 12 months. Durlng 2023124 the Board ha5 Invested 5i8nificantly in new technology 501utions to allow practitioners to complete self-assessment against the ISBL Professional Standard5, detemilne their level of practlce to then been accredlted by the Instltute IISBLI and determlne thelr next professlonal development ambition5. Based on thls achievement, alon8side the Structural systems In place, the Executlve Team and Board remain optlmistlc In the or8anisation's future 8rowth plan5 and ablllty to meet and exceed our members, needs. During the flnanclal year 202412025. the charltable group will prioritlse further development of strategic partnershlp arnd Investment in 5?le5 and marketln8 to capitalise further on its investment and ensure wlder knowledge and engagement from professlonals to support Its growth strate8V. The Board is assurèd followlng the further investment during the 2023124 perlod In technology. personnel and revlslon5 to the ISBL Professlonal Standards to ensure they contlnued to meet sertor needs, that the or8anlsatlon is now well placed to Brow its reserve5 Posltion In future years. The Board continue to adopt the going concern basis of accountlng In preparing the financial statements and no adjustments to the results or the Carr￿n& values declared in these financial statements are rÈqulred, and none have been made. Tlie Board have revlewed the currènt operatlng costs and liabilities and are content that the buslness can effecttvely operate and meet it5 reserve policy. INSTmJrE OF SCHOOL BUSINESS LEADERSHIP A Compan Ilmlted by Guarantee) NOTESTO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 ￿R(m 20241cMVd) IA F￿d acMuntlng Unrestricted Funds ère awdilable to Spend on attlvltles that further any of the purposes of the charity. Designated Funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a speclfk purpose. Restrltted Fund5 are sublert to specffic condltlons by donors as to how they may be used. The purposes and uses of the restrlcted fvnds are set out In the note5 to the finandal ststements. 1.5 hxpmlnl rnwur Income Is reco8n15ed when the tharftable group 15 legally entltled to It after any performance condltions have been met the amounts tan be measured rellably, and It Is probable that Income wlll be recelved. 19 Cash donatlons are recognlsed on recelpt. Other donations are recognlsed once the charltable 8roup has been notlfled of the donatlon, unle55 performance condltlons requlre deferral of the amount. Income tsx recoverable In relatlon to donatlons re￿iVed under Glft Ald or deeds of covenant Is re￿nISed at the tlme of the donation. 1.6 Resourc•s expended Expendlture13 accounted for on an accruals basis and has been Included under expense categories that sgre8ate all Costs for alloeÈtk)n to actlvltles. Where costs cannot be dlrertly altrlbuted to partlcular actlvltles, thèy hav¢ been allocated on a basls conslstent wlth the use of the resources. Support costs Bro thos• costs Incurred dlrectly In support of expendlture on the objects of the company and Include project management carried out at headquarters. Govemance costs are those Incurred In connection wlth admlnistratton of the company and compllance wlth con5tltutlonal and statutory requlrements. Irrecoverable VAT 15 charged as a cost agalnst the artivlty for whlch the expendlture was Incurred. 1.7 Intsnglble flxed asse18 Other than 8ootrAII Inlan8ible assets atqulred separately from a buslness ère recognised at cost and are subsequently measured at cost less accumulatsd amorti5ation and accumulated Impairnient losses. Intan8lble assets acqulred on busSness cornblnatlons are reco8nlsed separatety from goodwlll at the acqulsltlon date where It Is probable that the expected future economk benefits that are attrlbutable to the asset wlll flow to the entlty and the falr value of the 45set can be measured rellably. Amortlsatlon Is recognlsed so as to wrfte off the cost or valuatlon of assets less their resldual value5 over thelr useful lives on the followin8 bases: Software over 5 years The gain or1055 art51ng on the dlsposal of an asset Is determlned as the dlfference between the sale proceeds and the carrylng valuè of the asset, and Is reco8nlsed In net Incomel{expendlturel for the year. 1.8 Tawlble flxed assets Tan8lble flxed asset5 are Inltlally measured at cost and subsequently measured at cost or valuatlon, net of depreclatlon and Jny imp¥lrment losses. All assets costlryg more than £LLXX> 4re capltsllsed. Depreclatlon Is recogn15ed 50 a5 to wrfte off the cost or valuatlon of assets less thelr resldual value5 over thelr useful lives on the followin8 bases: Flxture5 and Flttlngs between 4 and 5 years Computers over 3￿rS The 8aln or1055 ar151n8 on the dlsposal of an a￿et15 determlned as the dlfference between the sale proceed5 and the carrying value of the asset, and is recognlsed In nÈt IncomÈ/(expenditure} for the year. INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (Gont'dl 20 1.9 Investments Investments are a form of basic financial Inrtrument and are initially I'ecognised at their transactlon value and subsèquently measured at thelr falr value as at the balance sheet date u5in8 the closln8 quoted market price, except for the shares In the trading subsidlary whlch are carried at cost. The 5tatemÈnt of flnandal actlvlties includes the net galns and losses arisin8 on revaluation and dlsp05als throughout the year. The charity does not acqulre put optlons, deriVa￿veS or other complex financial Instruments. All galns and losses are taken to the Statement of Flnanclal ActNltie5 as they arlse. Realised gain5 and losses on investments are calculated as the difference between sales proceeds and their openln8 carrylng value or their purchase Value if acqulred subsequent to the first day of the financial year. Unrealised galns and losses are calculated as the dlfference between the falr value at the year-end and their ca￿1n8 value. Reallsed and unrealised Investment gains and losses are combined In the Statement of Flnandal Actlvlties. A subsldiary Is an entlty controlled by the charitsble company. Control Is the power to govern the Ilnanclal and operatlng pollcles of the entity so as to obtaln benefits from Its actlvltles. 1.10 Impalrment of flxed assets At each reporting end date, the charltable company revlews the carrying amount5 of Its tangible assets to determlne whether there Is any indicatSon that those assets have suffered an Impalrment loss. If any such Indicatlon eKlsts, thè recoverable amount of the a55et is e5tlmated In order to detemiSne the extent of the Impalrment loss {if anvl. Intan8lble a55ets with indefinlte useful Ilves and intan8lble assets not yet avallable for use are tested for impalrment annually, and whenever there 15 an indicatlon that the a55et may be Impalred. 1.11 Cash and cash equlvalent$ ash and cash equivalent5 include cash In hand, deposlts held at call with banks, other short-term liquld Investments with 0ri8lnal maturlties of three months or le55, and bank overdrafts. Bank overdrafts are shown within borrowln85 in current liabllltles. 1.12 Flnandal Instruments The charltable company has elected to apply the provlslon5 of Sectlon 11 'Baslc Flnanclal Instruments, and Section 12 '0ther Financlal Instruments Issues, of FRS 102 to all of its financlal Instrument5. Flnancial Instruments are recognlsed In the charltable company's balance Sheet when the charFtable company becomes party to the contrartual provlslons of the Instrument. Flnanclal assets and Ilabllltles are offset, with the net amounts presented in the financial statements, when thère Is a legally enforceable rlght to set off the recognlsed amounts and there is an IntÈntlon to settle on a net basls or to reallse the asset and settle the liablllty slmultaneously. Boskjlnanclal ossets Baslc flnancial a55ets, whlch Include debtor5 and cash ènd bank balan￿5, are Inltlally measured at transactlon pr6￿ includinB transactlon costs and are subsequently carrled at amortlsed c05t uslng the effectlve interest method unles5 the arrangement constltutes a financlng transactlon, where the trans3Ctlon is measured at the present value of the futuie receipts discounted at a market rate of Interest. Finanaal assets classlfled as receivable withln one year are not amortlsed, Baslcylnonclol Ilobllltles Baslc flnandal liabilitles. includlng credltors and bank loan5 are Inltially recognlsed at transartlon prlce unless the arrangement constltutes a financing transattlon, where the debt instrument Is measured at the present value of the future payments discounted at a market rate of interest. Flnanclal liabilities classlfied a5 payable wlthln one year are not amortlsed. Debt instruments are subsequently carrled at amortised cost, usln8 the effective interest rate method. INsrtrurE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited Guarantee NOTE5 TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH Z024 l￿dI Trade creditor5 are obligations to pay for 8oods or 5er¥lces that hve been acquI￿d In the ordlnary course of opertions from suppliers. Amounts payable are classlfled as current liabilities if payment Is due wlthln one year or less. If not. are presented as non-current Ilabllkies. Trade credltors are reco8nlsed initially at tran5actlon prkn and 5ub5equently measured at amortised cost uslng the effectlve Interest method. 21 L>trewqnltlon oyflnandalllabllllles Flnonclal Ilabllltles are dereco8nkÉd wthen the ehar1table companls contractual obllgatlons explre or are di%harged or cancelled. 1.13 Taxatlon tharltsble company The actlvltles of the ¢harltablÈ company are exempt from Corporatlon Tax to the extent that they are applied to the or8anlsatlon's tharitsble obiectives, Tradlng subsldlary The tsx expense represents the Sum of the tsx currently payable and deferred tsx. Current tax The tsx currently payable Is based on taxable proflt for th• yelr. Taxable profft dfffer5 from net proflt as reported In the proflt and loss account because It excludes Items of Income or expense that are taxable or deductlble In other years and It further exclud•s Items that are never taxabl• or deductlble. The company's Ilablllty for current tsx Is calculated usln8 tax rates thot have been enacted or substantlvely enacted by the reportlng end date. It is the pollcy of the company to make a corporate donatlon equivalent to the taxable proflts for the period ended to its parent company and registered charity under the appllcable regulatlons. Thls payment Is to be made wlthln 9 months of the end of the accountlng perlod and as such, under corporatlon tax re8ulatlons, th8 company Is @llglble to carry back the effect of thls payment to the current year. No provislon for corporatlon tsx Is rnade wlthln the flnanclal 5tstements. 1.14 Employ•e benefits The cost of iny unused hollday ontftl•mant 15 rq¢o6nlsed In the pqrlod In whlch the employeés rvlces are received. Ternilnatlon beneffts are reco8n15ed Immed14tely as an expense when the charltable company Is demonstrabty commltted to termln4te th• Qmployment of an employee or to provlde termlnatlon beneflts. 1.15 Retlrement benefits Payments to deflned contrlbution retirement benefit sthemes are charged as an expense as they fall due. 1.16 Leases Leases are clas51fled a5 fInan￿ leases whenever the temis of the lease transfer substantlally all the rlsks and rewards of ownership to the lessees. All other leases are classffled as operatln8 leases. Assets held under flnance leases are recognlsed as assets at the lower of the assets falr value at the date of Inceptlon and the present value of the mlnlmum lease payments. The related Ilablllty Is Included In the balance sheet as a finan￿ lease obll8atlon. Lease payments are treated as conslstlng of capltsl and Interest elements. The Interest Is charged to net Incomellexpendlturel for the year so as to produce a con5tsnt periodlc rate of Interest on the remalnlng balance of the Ilability. 1.17 Legal statss thwltable ￿mPanY The charftable company Is a company Ilmlted by guarantee. In attOrdan￿ with the Articles of •Kssociation, the members of the charftsble company are the Trustees, must sign a declaration of wUIITh8n￿ to act as a Member. Membershlpls termlnated when the Indlvldual ceas¢s to be a Trustee. INSTITWE OF SCHOOL BUSINESS LEADERSHIP Acom an Limited Guarantee 22 NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {¢ont'd) In the ovent of the charitsble company belng wound up. the Ilablllty in resped of the guarantee Is Ilmited to £1 per member of the charitable company. Tradln8 subsldlary The trading 5ub5idiary is a company limited by Shares. The members of the company a￿ Its shareholders. Dlrectors are appolnted on behalf of the members to oversee the day-to-day operatlons of the subsidiary and ensure good governance in its activitie5. Crltlcal accountlni estlmates ind ludgements In the appllcatlon of the charitable companys accountlrig pollcles, the trustees are required to make lud8ements, estlmates and assumptlons about the carryln8 amount of assets and Ilabllltles that are not readlly apparent from other 50urces. The e5tlmates and a5soclated assumptlons are based on historical experlence and other factors that are consldered to be relevant. Actual results may dlffer from these estimates. The estimates and underlyln8 a5sumptlons are revlewed on an oneolng basls. Revlslons to accountlng estimates are recognlsed in the period in which the e5tirnate Is revised where the revision affects only that period, or in the perlod of the revision and future periods where the revision affects both current and future period5. INsrmirE OF SCHOOL BUSINESS LEADERSHIP Acom Limlted Guarantee NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (wrfdl 23 Donatlons and legades Unrestrlcted funds Deslgnated fund5 ZOZ4 Gr•nts recelvable for ¢or• actlvltles Foryear ended 31 March 2023 4 Charltable actlvltles Membershlps Other actlvltles 2024 Membership income Consuftancy income Other Income 147,695 147,695 187,738 2,600 10.838 201176 4,740 4,740 152,435 147.695 Prforfvandolyear Mernbershlp Income Consultancy Income Other Income 187,738 187,738 2,6rxi 10.838 201 176 2,600 10,838 187 738 Other trndlng actlvltl•s Unrestrlrted funds Deslgnated funds 2024 2013 Income from tradlng activities 913 865 1050 880 1964 745 2 100457 For the year ended 31 March 2023 1033 618 1066 839 2 100 457 6 Investments Unre5trfrt•d funds D￿l￿ated funds 2024 Interest recelvable Forthe year ended 31 March 2023 7 Expendlture staff Co•ti Premls•5 Costs other Costs 2023 Expendlture on charltable artlvles Charitsble activltles 184 554 For the year ended 31 March 2023 390 109 426 965 INSTITUTE OF SCHOOL BUSINESS LEADERSHIP Acom any Llmlted Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {cont'd) Conference & trainin8 24 8 Charttable activities Member ships other activities 2024 2013 Trainin8 CQ5t5 Marketing Share of support costs (see note 9) Share of governance r05ts1see note 91 583,772 82,722 666 494 583,772 82,722 840,011 19,974 859.985 Analy51s by fund Unre5trlrted funds Designated funds 664,494 664,494 859,985 664,494 859 985 For the perlod ended 31 Marth 2023 Unrestrlcted funds Designated funds 859,985 859,985 859 985 859,985 Descrfptlon ol tharotable actlvltlej Membershlps Membershlp Income and related services connected to asslstlng and admlnlsterlng membershlps. Confrrence and tralnlng Income and costs reldted to hostln8 natlonal and regional conference5 and supplyin8 trainin¥ courses for rnembers. other ocdvltles General charitahle activitips undp.rtaken by the organlsation. 9 Support costs Governance costs Support ￿$t1 2024 2013 staff costs Staff tralnlng and other Staff cost5 Depreclation Operatin8 lease charges Premises costs Travel and subsistence costs Computer and webslte costs Office costs VAT partlal exemption Trustee expenses Bank and finance charge5 GovNet 5UPPOrt fee5 Audit fees Legal and professional costs GovNet Proflt Share 431,869 2,053 14,542 33,517 16,554 18,566 20,807 15,402 18,243 431,869 2,053 14,542 33,517 16,554 18,566 20,807 15,402 18,243 390,109 470 16,276 24,947 881 6,118 31,356 22.401 23.411 59 4,637 273,168 8,800 11,174 46.178 859,985 2,929 2,929 12,100 70,622 12,100 70,622 9,290 666.494 9,290 583,772 82,722 INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited Guarantee NOTES TO THE FINANaAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024{￿rfd) 10 Other tradlng a¢tlvitie5 Unrestricted Designated fund5 funds 25 2024 ZOZ3 ExPend￿re from tradln8 actlvltles {see note 251 For the ￿ar ended 31 March 2023 11 Net movement In funds 492A26 1028 532 975,543 IA67.969 1.504.987 2024 2023 Net movement in funds is stated after chargln8llcredltln81'. Depredatlon of owned tangible fixed assets Amort15atlon of intangible assets Operatin8 lease charges Audlt of the group's annual account$ 12 Trustees None of the Trustees lor any persons connerted with them) recelved any remuneratlon from the charlty durin8 the perlod, but four of them were relmbursed a total of £93412023: £332) for travellln8 and subslstence expenses12023: 2 were relmbursed). 630 13,912 33,517 12,100 2.364 13.912 24,947 11,545 Durln8 the perlod, dlrectors S Lester, M Burrell, P Armstron& J Coates. H Burge. D Beazer,W Farrler. N Brunnln8 and G Corban had atte55 to free attendance at the Natlonal Conference at a cost of £570 each; C Campbell recelved a full conference place at a cost of £435 and B March attended on one day at a c05t of £202. The £5,770 of conference expenses have been included In the cost of the National Conference12023: £4,975). 13 Employtts Number of employees The average monthly number of employees durlng the period was: 2024 Number io Number Dlrect char￿able and 5UPPQrt staff Employm•nt wrt• (Group) 2024 2023 Wa8es and salarles Soclal securFty costs Other pension costs 351,428 33,292 41,805 426,525 2024 307,795 30,651 37.052 375,498 2023 Employment COSts (Charlty) Wages and salaries Sodal securlty costs Other penslon costs 237,896 22,809 199.010 17.347 23,812 240,169 293,221 The number of employees whose annual remuneratlon was £60,¢J)O or more were: ZO24 2023 £60,001- £70,000 £70.001- £80,000 £90.001- £100,000 £i￿.(M}I - £iiO.000 Contributions for the 12-month perfod totallln8 £25,09512023: £24,364) were made to defined contributlon penslon scheme5 on behalf of employee5 whose emoluments exceed £60,000. INSTITUTE OF SCHOOL BUSINESS LEADERSHIP {A Company Limited by Guarantee) NOTES TO THE FINANaAL STATEMEhrrs FOR THE YEAR ENDED 31 MARCH 2024 (cont'd) 14 Intangible assets Group and Charlty Cost As at l Apr51 ?.023 Additlons Disposals As at 31 March 2024 26 Software Totsl 69,561 69.561 Amortlsatlon As at l April 2023 Amortisation charge for the period Disposals At 31 March 2024 15,071 13,912 15.071 13.912 28.983 Net book value As at l Aprll 2023 At 31 March 2024 54,490 54.490 40,578 15 Tanglble assets Group and Charlty Flxtures & Fittin8s Computers Total Cost At 01 April 2023 Additions Disposals At 11 March 2024 16,861 17,1)40 33.901 (2,870 (5,9341 11,106 18,804) Depreciatlon At 01 Aprll 2023 Depreciation char8e for the perlod Disposals At 31 March 2024 16,861 16,410 630 (5,9341 33.271 630 8,804) 12,8701 Net book valué At 31 March 2023 630 630 At 31 March 2024 16 Flxed asset Investments The charity holds I share of £1 in its wholly owned tradln8 subsldlary companyi ISBL Tradln8 Limited, which is incorporated In the United Kingdom. These are the only shares allotted, called up and fully paid. The activltles and results of thi5 company are summarised in note 25. 17 Debtor5 Group 2024 Charlty 2024 2023 2023 Trade debtors Amounts owed to group undertaklnEs Other taxation and social security Other debtors Prepayments and accrued income 271,017 543.277 11,460 11,305 12,730 490,300 67,413 828 730 433,200 46,307 1022 784 15,910 23,371 INSttruTE OF SCHOOL BUSINESS LEADERSHIP IA Company Llmited b Guarantee NOTES TO THE FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 MARCH 2024 (cont'dl 18 Creditors: amounts falllnz due wlthln one year Group 2024 27 Charlty 2024 2023 2023 Other taxation and soclal securlty Deferred income (see Note 19) Trade credltors Arnounts owed by group undertaklng5 Other creditors Accruals 37,675 446,628 98.343 78,734 493.867 26A62 21,824 105,553 10,472 89.874 4,247 11,487 243 457 IL126 66.251 4,311 43,403 4,250 134,993 264 334 9,748 538,273 1130 667 5.697 742.971 1346 331 19 Deferred Income Group 2024 Charity 2024 2023 Arlsln8 from charitable actlvltles Arlsln8 from tradlng actlvltles 105,553 341,075 446 628 66,251 427,616 493 867 105,553 66,251 105 553 Deferred income is included in the financial statements as follows: Group 2024 Charfty 2024 2023 2023 Deferred income at 01 Aprll 2023 Resources deferred during the period Amounts released from prevlous perlod Deferred income at 31 March 2024 Deferred Income arises where income has been received In respect of membershSp Income, approved partner Income, conference events and trainin8 courses that have not yet been fully provlded by the company. 493,867 446,628 (493,867 446 628 395,140 493,867 66,251 105.553 66,251 105 $53 79,158 66.251 79,158 20 Retlrement benefft schemes Deflned contrlbutk>n schemes The charltable company operates a defined contribution penslon scheme for all quallfying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund, The charge to proflt or loss in respect of the defined contribLrtion schemes was £41,806 12023: £37,051). 21 D•sl8nated fund5 Group Asat l Aprll 2023 Incomlng resources R•sources expended 31 Mar¢h 2024 Transfers Tralnlng-SRMA Deployment Training-SRMA Supply 871,936 178,944 1871.936) (103.607) 975 543 (75,3371 INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Com any Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {cont'd} Zl Deslgnated funds Icont'd) Group 28 Asat l Aprll 2022 Incomlng re50urce5 Resources expended Asat 31 March 2023 Transfers Training- SRMA Induction & Accredit< Training- SRMA Deployment Tralnlng- DfE CFO Mentorlng 840,933 170,446 55,460 (840,9331 (147,4331 140,1661 1028,532 123,013) 115,294) 38,307 Charlty Incomln8 resources Resources expended 2023 Transfèrs 2024 Tralnlng- Clerkln8 Programme Charlty Incomin8 resources Resources expended 2022 Transfers 2023 Trainin8- SRMA Supply Tralnlng- Clerking Programme Descrlptlon of Oesl8nated Fund5: Tralnln8- CFO Mentorlng Pro8ramme relates to funds received In conjunction with the contract awardeL4 to ISBL from IXE to supply and train school/trust CFOS to support new, aspiring and existing CFOS within schools and trusts. Tralnln8 - SRMA Inductlon & Ac¢reditation relates to funds received in conjunrtion with the contract awarded to ISBL from DfE to Induct and undertake all accredltation of School Aesource Management Advisers ISRMASI. Tralnlng - SRMA Deployment relates to funds received In conjunctlon with the contract awarded to1SBL by the DfE to supply and manage SRMA deployments. Tralnlnl Clerklng Programme relates to funds recelved, in conjunction with another organisation {Confederation of School Trusts) to dellver tralnlng and accredltatlon to school clerks. During the financial year, a review of the fund accounting and their Indlvidual funding streams was undertaken by the Trustees. Further to thi5 review. It was agreed that the previous reported restricted funds relatlng to the training programmes were conducted under a servlce level agreement wlth the funder and were not as the result of restricted grants received. As a consequence, the prevlous desiBnatlon as beln8 restricted fund was consldered to be incorrect by reference to Charlty Commisslon guidance relating to restricted funds. The Trustees have agreed that the corrert deslgnation should be to report the Income and expenditure as unrestricted fund5, and In furtherance have agreed to report designated funds wlthln unrestricted funds, wlth all necessary corrections to the prior year figures to be made as a prior-period adjustment. INSTITUTE OF SCHOOL BUSINESS LEADERSHIP A Compan Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icont'd) Unrestricted Funds 29 22 Analysls of net assets between funds Des18nated Funds 2024 Group Fund balances at 31 March 2024 are represented by: Intsnglble assets Tan8lble a&%ets Current assets/(Ilabllltles) 40,578 40.578 95,811 136,389 95,811 136 389 Unrestricted Funds Group Deslgnated Funds 2023 Fund balances at 31 March 2023 are represented by: Intangible assets Tanglble assets Current assetsllliabilities) 54,490 630 92,389 147 509 54A90 630 92,389 147 509 Ch•rlty Fund balances at 31 March 2024 are represented by.. Intangible assets Tan8lble assets Flxed A55et Investments Current as5ets/lliabilitiesl Unr•strfrted Fundi Des1￿lted Funds 40,578 40,578 16,101 16,101 Unr•strlrted Fundg Charfty Deslgnated Funds 2023 Fund balances at 31 March 2023 are represented by.. Intanglble assets Tanglble assets Flxed Asset Investments Current assets/(Ilabllltlesl 54.490 630 630 24.56Z 24.562 23 Operatini lease commltments At the reportlng end date, the charltable group had outstandins commltments for future mlnlmum lease payments under non- cancellable operatlng lea5e5, which fall due a5 follows: Group and charlty Explry date: Wlthln one year Between two and flve years Z024 2023 7,788 725 34,701 8.513 24 Related party transactlons Remuneratlon of key mana8ement personnel The rernuneration of key management personnel15 as follows.. Aggregate compensation 2024 2023 198,763 198,763 191,977 191977 INSTrruTE OF SCHOOL BUSINESS LEADERSHIP (A Compan Limited by Guarantee) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (wnt'd) Related party transactlons (cont'd) Key management personnel include5 the senior management team and trustees. Trustees are not remunerated for their role in the tharltable Company. Owlng to the nature of the charity's operatlons and the composition of the board of trustees being drdwn from Interested and affiliate parties, transartlons may take place with or8anisations in whlch the charity has an Interest. All transactions involving such organisatlons are conducted at arm's length and In accordance with the charity's financial regulatlons and normal procurement procedure5. The followlng related party transaction5 were approved durlng the period. Expenditure of £9,01412023.. £5,493) was Invoiced by SKL Consultancy in relatlon to work completed by 5 Le5ter, a director, on behalf of the charlty. The expenditure was in relation to SRMA and CFO deployments and consultancy and 5UPPOrt services provided. 30 The Artlcles of Association permit a Trustee or Connected Person to supply goods or servlces in return for a payment or other material benefit only whÈre clrcumstantes outlined in the Articles are appllcable. 15 Subsldlarles The wholly owned 5ubsidi3ryJ ISBL Tradlng Llmlted, Is Incorporated In the Unlted Klngdom (company number 11105488} and pays all of Its taxable surpluses to the parent charitable company as a dlstribution under gift aid. The summary financlal performance of the subsidiary alone is: 2024 2023 Turnover Cost of sales 1,964,745 11,653,427) 311,318 {231,6091 79,709 2,100,457 11,886,120) 214,337 1146,5121 67,825 Gr0$5 proflt Administrative expenses Proflt on ordlnary actlvltles before taxatlon Tax on profit Profit on ordinary attlvltles after taxatlon Distributions to parent charlty under glft ald The assets and Ilabllltle$ of the subsidiary were: Current assets Current Ilabllltles Total net assets 139 428 1,056,794 {977,084 1,205,957 1,138,131) 26 Cash (used In)18enerated from operatlons Group Deficit for the perlod Adjustments for.. Investment Income reco8n15ed in statement of flnanclal activities AmDrtisatlon and impairment of Intangible assets Depreciation and Impalrment of tan8ible fixed assets Movements in worklng capital: Decreasel(increase) in debtor5 IOecrease)Ilncrease in credltors Loss on disposal of fixed assets Cash used in operatlon5 Analysls of ca$h and cash equlvalents Group Cash in hand and at bank Total cash and ¢ash equivalents 2024 2023 111,119) (61,6771 16,163) 13,912 630 {1,6621 13.912 2,364 194,053 {215,664) 1619,7961 391,521 275 338 27 2024 2023 397,748 397.748 415,936 415.936