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INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Charity Registration No. 1114623
Company Registration No. 03425492 (England and Wales)
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(A Company Limited by Guarantee)
INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
Contents
Page
Legal and Administrative Information
Trustees' Report (including Directors' Report and Strategic Report)
Statement of trustees' responsibilities
Independent auditor's report
Consolidated Statement of Financial Activities
Charity and Consolidated Balance Sheets
Consolidated Statement of Cash Flows
Notes to the financial statements
1
2
10 11
14 16
17
18
INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
1
(A Company Limited by Guarantee)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees and Directors Paul Armstrong Debra Beazer Nigel Brunning Helen Burge Matthew Burrell Chair of Trustees Cheryl Campbell Resigned 28/9/2024 Jonathan Coates Wendy Farrier Luci Jones Stephen Lester Ben March Resigned 25/9/2024 Emma Swan Russell Dalton Samantha Finch Benedict Yue Sandy Tomlinson 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
.
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er 2025
INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
10
(A Company Limited by Guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025
The trustees, who are also the directors of Institute 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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that year.
In preparing these financial statements, the trustees are required to:
@® select suitable accounting policies and then apply them consistently;
@ observe the methods and principles in the Charities SORP;
@® make judgements and estimates that are reasonable and prudent; @® state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and @ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
11
INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
Opinion
We have audited the financial statements of Institute of School Business Leadership (the charitable company) and its subsidiaries (the group) for the period ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charitable Company Balance Sheets, the Consolidated Statement of Cash Flows and the related notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) and the Charities SORP (FRS 102) 2019.
In our opinion, the financial statements:
-
give a true and fair view of the state of the group's and of the charitable company's affairs as at 31 March 2025 and of the group's income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and the provisions available for small entities 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 financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
-
the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the trustees' report has been prepared in accordance with applicable legal requirements.
12
INSTITUTE OF SCHOOL BUSINESS LEADERSHIP (A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
Matters on which we are required to report by exception
-
In the light of the knowledge and understanding of the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
-
the parent charitable company financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
-
.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement set out on page 10, 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 group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or 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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always 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:
Based on our understanding of the group and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charitable company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls, and determined that the principal risks were related to inflated revenue and the charitable company’s net income for the year.
Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, review of correspondence with and reports to the regulators, including correspondence with the Charities Commission review of correspondence with legal advisors and enquiries of management so far as they related to the financial statements, and testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
13
INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE INSTITUTE OF SCHOOL BUSINESS LEADERSHIP
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent charitable company and group’s internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
-
Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the parent charitable company’s and group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the parent charitable company and group to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the group’s members, 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 parent charitable company and group’s members those matters we are required to state to them in an auditor's 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 parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
…………………………………………………………………… Malcolm Winston Senior Statutory Auditor UHY Hacker Young (Birmingham) LLP Statutory Auditor 9-11 Vittoria Street Birmingham B1 3ND
Date …… 24 September 2025 ……………………………
UHY Hacker Young (Birmingham) LLP is eligible for appointment as auditor of the charitable group by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.
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Unrestricted Designated %&%' %&%(
Funds Funds Total Funds Total Funds
* *
- 209,095 - 209,095 152,435
( 1,063,036 475,208 1,538,244 1,964,745
' 6,967 - 6,967 6,163
./%01/&12 (0'/%&2 ./0'(/-&3 %/.%-/-(-
3 779,432 - 779,432 666,494
1 558,428 406,705 965,133 1,467,969
./--0/23& (&3/0&' ./0((/'3' %/.-(/(3-
(58,762) 68,503 9,741 (11,120)
%& 68,503 (68,503) - -
9,741 - 9,741 (11,120)
136,389 - 136,389 147,509
.(3/.-& - .(3/.-& .-3/-21
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Unrestricted Designated %&%(
Funds Funds Total Funds
*
- 152,435 - 152,435
( 913,865 1,050,880 1,964,745
' 6,163 - 6,163
./&0%/(3- ./&'&/22& %/.%-/-(-
3 666,494 - 666,494
1 492,426 975,543 1,467,969
./.'2/1%& 10'/'(- %/.-(/(3-
(86,457) 75,337 (11,120)
%& 75,337 (75,337) -
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.-3/-21
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.-3/-21
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%&%' %&%' %&%( %&%(
* 2 2
.- 26,665 26,665 40,578 40,578
.( 6,290 6,290 - -
.' - 1 - 1
32,955 32,956 40,578 40,579
.3 151,165 4,058 828,730 27,370
%3 737,737 254,097 397,748 232,188
888,902 258,155 ./%%3/(02 %'1/''2
.0 (775,727) (281,751) (1,130,667) (243,457)
113,175 (23,596) 1'/2.. .3/.&.
146,130 1/-3& .-3/-21 '3/32&
146,130 1/-3& .-3/-21 '3/32&
146,130 9,360 136,389 56,680
%& - - - -
146,130 1/-3& .-3/-21 '3/32&
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25
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%&%' %&%(
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0-0/0-0 -10/0(2 737,737 -10/0(2
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Other activities **%&%' %&%( * * * ***
%&%' %&%( funds *** * * ***
%&%' %&%( funds funds *** * * *** 6,967 - 6,967 6,163 6,163 - 6,163 Premises Costs Other Costs **%&%' %&%( * * * * ***
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|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|0|Charitable|activities|Conference|&|Other|
|Memberships|training|activities|%&%'|%&%(|
||||||
|9|
|Training|costs|-|-|-|-|
|9|
|Marketing|et|
|9|9|
|Share|of|support|costs|(see|note|8)|680,159|-|-|680,159|583,772|
|Share|of governance|costs|(see|note|8)|99,273|-|-|99,273|82,722|
|779,432|-|-|779,432|666,494|
|Analysis|by fund|
|Unrestricted|funds|779,432|-|-|779,432|666,494|
|9|
|Designated|funds|-|-|-|-|
|-|-|-|779,432|666,494|
|For|the|period|ended|31|March|2024|
|Unrestricted|funds|666,494|-|-|666,494|
|Designated|funds|ee|—|
|—866,494|__ 666,494|
|Description|of charitable|activities|
|Memberships|
|Membership|income|and|related|services|connected|to|assisting|and|administering|memberships.|
|Conference and training|
|Income|and|costs|related|to|hosting|national|and|regional|conferences|and|supplying|training|courses|for|members.|
|Other|activities|
|General|charitable|activities|undertaken|by|the|organisation.|
|2|Support|costs|Governance|
|Support|costs|costs|%&%'|%&%(|
||||2|
|Staff costs|499,242|-|499,242|431,869|
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41,395
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funds %&%' %&%( * * * *** 406,705 965,133 1,467,969 975,543 1,467,969 %&%' %&%( * ***
..
:
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%&%' %&%( Number Number 10 10 %&%' %&%( *** 2 409,890 351,428 41,505 33,292 47,847 41,805 499,242 426,525 %&%' 2024 2 280,283 237,896 29,349 22,809 37,106 32,516 346,738 293,221 *%&%' 2024
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.- Intangible assets Software Total
Group and Charity *
Cost
As at 1 April 2024 69,561 31/'3.
Additions - -
Disposals et
As at 31 March 2025 —69,56. 31/'3.
Amortisation
As at 1 April 2024 28,983 %2/12-
Amortisation charge for the period 13,913 13,913
Disposals - -
At 31 March 2024 42,896 42,896
Net book value
As at 1 April 2024 40,578 40,578
At 31 March 2025 26,665 26,665
.( Tangible assets
Group and Charity Fixtures &
Fittings © Computers Total
*
Cost
At 01 April 2024 13,991 11,106 %'/&10
Additions 2,683 5,096 7,779
Disposals - - -
At 31 March 2025 16,674 16,202 -%/203
Depreciation
At 01 April 2024 13,991 11,106 %'/&10
Depreciation charge for the period 280 1,209 1,489
Disposals - - -
At 31 March 2025 14,271 12,315 26,586
Net book value
At 31 March 2024 - - -
At 31 March 2025 2,403 3,887 6,290
.' Fixed asset investments
The charity holds 1 share of £1 in its wholly owned trading subsidiary company, ISBL Trading 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 are summarised in note 24.
.3 Debtors Group Charity
%&%' %&%( %&%' %&%(
* *
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%&%' %&%( %&%' %&%(
* *
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.2
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—775,727 1,130,667_ __ 281,751 243,457
Group Charity
%&%' %&%( %&%' %&%(
* *
76,205 105,553 76,205 105,553
488,027 341,075 - -
564,232 446,628 76,205 105,553
as follows:
Group Charity
%&%' %&%( %&%' %&%(
* *
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.1
**%&%( %&%' * * * * ***
%&
%&
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* * *
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%%
%-
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%&%'
Funds Funds
*
26,665 - 26,665
6,290 - 6,290
113,175 - 113,175
— [146,130,] 130
Unrestricted Designated %&%(
Funds Funds
*
40,578 - 40,578
- - -
95,811 - 95,811
— [136,389] [=][ 6,389]
Unrestricted Designated
Funds Funds %&%'
*
26,665 - 26,665
6,290 - 6,290
1 - 1
(23,596) - (23,596)
9,360 - 9,360
Unrestricted Designated
Funds Funds %&%(
*
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%&%' %&%(
725 7,788
- 725
725 8,513
%&%' %&%(
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%-
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%&%' %&%(
1,964,745
(1,653,427)
311,318
(231,609)
79,709
- -
79,709
67,825
1,056,794
(977,084)
79,710
%&%' %&%(
9,741 (11,120)
(6,163)
13,912
1,489 630
194,054
(215,664)
(24,351)
%&%' %&%(
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