2022-09-30-accounts - The Professional Teaching Institute

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CONTENTS				Page
Reference and Administrative			Information	2 —3
Trustees' Report				4 —14
Independent	Auditor's	Report		15 —17
Consolitated	Statement	ofFinancial Activities		18
Consolidated	Balance	Sheet		19
Charity Balance Sheet				20
Consolidated	Statement ofCash Flows			21
Notes to the	Financial	Statements		22-32

Royal Founding	Royal Founding	Patron:	HM The King
Honorary	President		Sir Harvey McGrath
Directors and charity Trustees			Keith M Breslauer (Chairman)
who served	during the year		John Greenshields
			Raj Kumar
			Julie Mercer
			Baroness Sally Morgan		ofHuyton
			Richard Sheriff OBE
Company	Secretary		Julia Bagguley (resigned		30September 2022)
			Claire Clark (appointed		30 September 2022)
Co-directors			Carolyn Roberts
			Christopher N. H. Pope
PTI Education		Ltd	The charity established		atrading	subsidiary,		PTI Education Ltd on 31 August
			2016.It is a company	Limited by			shares numbered		10353080and is registered
			in England dc Wales. Its		registered		office is 14-15		Lower Grosvemor	Place,
			London, SWIW OEX.
Auditor			Haysmacintyre LLP
			10Queen Street Place
			London
			EC4R IAG
Legal advisors			Farrer dt Co
			66 Lincoln's Inn Fields
			London
			WC2A 3LH
			Penningtons Manches	LLP
			125 Wood Street
			London
			EC2V 7AW

Financial	advisors	CCLA Investment
		Two Fitzroy Place
		One Angel Lane
		London
		EC4R 3AB
Bankers		HSBC Bank pic
		69 Pall Mall
		London SWIY5EY
Principal	address	14-15Lower Gosvenor Place
		London
		SWIW OEX

					Unrestricted	Restricted	Endowment	Total	Total
					Funds	Funds	Funds	Funds	Funds
				Note	2022	2022	2022	2022	2021
					f	8	8	8
income and endowments	from:
Grants snd donations					645,878	272,905		918,783	2,624,756
Affiliation
Charitable activities:
Secondary fees					283,278			283,278	251,270
Primary Programmes					38,050			38,050	7,150
Secondary Leadership Residential Programme			and		4,095			4,095
New Teacher Subject Days					21,361			21,361	35,858
Summer Schools					23,833			23,833
Other Continuing Professional		Development			37,107			37,107	37,800
Other trading activities					39,600			39,600
Investments					3,883			3,883	53,584
Total Income					1,097,085	272,905		1,369,990	3,010,418
Expenditure on:
Raising funds					182,711			182,711	162,961
Charitable activities:
Subject Leadership Programme					114,432	108,367		222,799	172,224
Subject Enrichment Residentials					228,824	70,000		298,824	28,872
Primary Programmes					155,114	38,405		193,519	151,147
Secondary Leadership Residential Programme			end		137,482			137,482	93,548
New Teacher Subject Days					179,153	33,300		212,453	147,075
Continuing Professional Development					213,668	22,833		236,501	219,124
Website and CRM					38,837			38,837	48,299
Total Cost ofCharitable	Activities				1,067,510	272,905		1,340,415	860,289
Total Expenditure					1,250,221	272,905		1,523,126	1,023,250
Net income/(expenditure) recognised gains /(losses)	before other and transfers				(153,136)			(153,136)	1,987,168
Net gain / (loss) on investments				7			(127,470)	(127,470)	201,016
Transfer between funds				11	155,000		(155,000)
Net income/(expenditure)	for the year				1,864		(282,470)	(280,606)	2,188,184
Total funds at 1 October 2021					855,649		3,740,146	4,595,795	2,407,611
Total funds at30September 2022					857,513		3,457,676	4,315,189	4,595,795

			Note	2022	2022f	2021 8	2021 8
Fixed assets
Tangible	fixed assets				58,025		73,079
Investments					3,253,670		3,381,139
					3,311,695		3,454,218
Current	assets
Debtors				192,547		190,623
Cash at bank		and in hand		1,243,535		1,621,375
				1,436,082		1,811,998
Creditors
Amounts	falling due within
one year			9	(404,210)		(631,774)
Net current		assets			1,031,872		1,180,224
Creditors
Amounts	falling due atter one
year			10		(28,378)		(38,647)
Net assets					4,315,189		4,595,795
Funds
Restricted	funds		11
Endowment		funds	11		3,457,676		3,740, 146
Unrestricted		funds	ll		857,513		855,649
					4,315,189		4,595,795

		Note	2022	2022 8	2021	2021f
Fixed assets
Tangible fixed assets				58,025		73,079
Investments				3,253,671		3,381,140
				3,311,696		3,454,219
Current assets
Debtors			256,799		154,767
Cash at bank	and in hand		902,168		1,392,168
			1,158,967		1,546,935
Creditors
Amounts falling due within
one year		9	(127,096)		(366,712)
Net current	assets			1,031,871		1,180,223
Amounts falling due atter one
year		10		(28,378)		(38,647)
Net assets				4,315,189		4,595,795
Funds
Restricted funds		11
Endowment	funds	11		3,457,676		3,740,146
Unrestricted	funds	11		857,513		855,649
				4,315,189		4,595,795

								2022	2021
								8
Cash flow from operating		activities
Net cash (used in)/provided		by operating	activities					(381,723)	2,161,457
Cash flow from investing	activities
Investment income								3,8$3	53,584
Purchase oftangible fixed assets									(75,268)
Acquisition of fixed asset		investments	through		investment
manager								(3,381,140)	(5,285,667)
Proceeds from disposal of		fixed asset	investments			through
investment manager								3,346,241	3,387,715
Net cash provided by/(used		in) investing		activities				(31,016)	(1,919,636)
Change in cash and cash equivalents								(412,739)	241,821
Cash and cash equivalents		at the start	ofthe year					1,656,274	1,414,453
Cash and cash equivalents		at the end	ofthe year					1,243,535	1,656,274
(i) Reconciliation of net	income to net			cash	flow		from
operating activities
								2022f	2021f
Net income/(expenditure)								(280,606)	2,188,184
Adjustments for:
Depreciation charge								15,054	2,189
Dividend income									(51,065)
Interest received								(3,883)	(2,519)
(Gain)/Loss on investments								127,470	(201,016)
Increase in debtors								(1,924)	(71,872)
(Decrease)/Increase in creditors								(237,834)	297,556
Net cash (used in)/provided		by operating		activities				(381,723)	2,161,457

.Cost ofCharita	ble Activities
				Secondary
				Leadership	New	Other
2022	Subject	Subject		Residential	Teacher	Continuing	Website	Total
	Leadership	Enrichment	Primary	And	Subject	Professional	And	Funds
	Programme	Residentials	Programmer	Programme	Days	Development	CRM	2022
Activities direct costs	92,737	170,931	25,197	33,760	82,159	69,483	17,856	492,123
Support cosls
Wages and salaries	85,117	78,466	105,217	66,498	85,023	100,712	14,893	535,926
Consultancy	9,063	14,142	16,667	8,609	9,325	9,658	300	6""44
General office costs	29,887	29,390	38,679	23,834	29,940	48,949	4,821	20&,AIO
Governance costs	5,995	5,895	7,759	4,781	6,006	7,699	967	39,102
	130,062	127,893	168,322	103,722	130,294	167,018	20,981	848,292
	222,799	298,824	193,519	137,482	212,453	236,501	38,837	1,340,415
				Secondary
				Leadership	New	Other
2021	Subject	Subject		Residential	Teacher	Contmwng	Website	Total
	Leadership	Enrichment	Primary	And	Subject	Professional	And	Funds
	Programme	Residentials	Programmes	Programme	Days	Development	CRM	2021
Activities direct costs	49,361	4,447	1,675	6,952	33,779	56,943	26,607	179,764
Support costs
Wages and salaries	93,651	15,062	103,378	62,049	73,315	111,770	14,636	473,861
Consultancy	15,000	4,300	16,500	8,100	6,500	7,300	300	58,000
General office costs	8,067	4,033	24,201	13,109	28,234	35,293	5,035	117,972
Governance costs	6,145	1,030	5,393	3,338	5,247	7,818	1,721	30,692
	122,863	24,425	149,472	86,596	113.296	162,181	21,692	680,525
	172,224	28,872	151,147	93,548	147,075	219,124	48,299	860,289

					2022	2021
					8
Wages and	salaries				93,849	91,611
General office costs					29,782	20,168
Direct fundraising		and	event-related	costs	59,080	7,432
Investment	management		fees			43,750
					182,711	162,961

										2022f	2021f
Wages and salaries										19,056	15,280
General	office	costs								6,946	3,062
Auditor's	remuneration		-	The Professional		Teaching	Institute	(audit fees)		8,400	8,000
			-	PTI Education Limited (audit fees)						2,500	2,350
			-	The Professional		Teaching	Institute	(non-audit	fees)	1,100	1,000
			-	PTI Education Limited (non-audit				fees)		1,100	1,000
										39,102	30,692
Staffcosts
										2022f	2021f
Wages and salaries										540,151	485,260
Social security		costs								55,778	48,616
Contributions		to personal		pension	schemes					52,902	46,875
										648,831	580,751

The average as follows:	number ofpeople employed by the charit	y during the year were
		2022	2021
Charitable	activities	13.1	12.0
Governance		0.3	0.2
		13.4	12.2

	and Partnerships Manager, Senior Events Manager a costs (including employers' national insurance and (2021:f396,601).	nd the Senior Program pension contributions)	mes Manager. The tot for these individuals	al employment was f392,928
6.	Tangible Fixed Assets —Charity and Consolidated	Webstte and	Office
		Computer	Fittings and
		Equipment f	Equipment f	Totalf
	Cost
	As at 1 October 2021 and 30September 2022	73,302	83,557	156,859
	Depreciation
	At 1 October 2021	73,302	10,478	83,780
	Charge during the year		15,054	15,054
	At 30September 2022	73,302	25,532	98,834
	Net Book Value
	At 30September 2022		58,025	58,025
	At 30September 2021		73,079	73,079
7.	Fixed Asset Investments		Listed	Listed
	Consolidated		2022f	2021 f
	Market value brought forward		3,346,241	1,247,273
	Acquisitions at cost		3,381,140	5,285,667
	Less disposal proceeds		(3,346,241)	(3,387,715)
	Gains and losses on investments		(127,470)	201,016
	Market Value Carried Forward		3,253,670	3,346,241
	Cash held			29,668
	Accrued interest			5,230
	Total value		3,253,670	3,381,139
	Historic costoflisted invesimenis		3,381,140	2,488,197

s trading res	ults,	extracted from its audited accounts were as	follows:
			2022f	2021f
Turnover			1,702,324	1,082,451
Cost ofsales			(474,266)	(153,249)
Gross profit			1,228,058	929,202
Administrative		expenses	(1,069,780)	(892,595)
Operating profit			158,278	36,607
Interest			528
Protit before	taxation		158,806	36,607
Tax on profit
Protit for the financial period			158,806	36,607
Gift Aid Payment			(158,806)	(36,607)
A summary	ofits assets is shown below:		2022	2021
			f	f
Debtors			108,095	89,209
Cash at bank	and in hand		341,367	229,207
Creditors falling		due within one year	(449,461)	(318,415)
Net current	assets

Debtors
		Consolidated	Consolidated	Charity	Charity
		2022	2021	2022	2021
			f		f
Trade debtors		92,760	75,626		3,000
Prepayments		46,429	23,753	33,094	10,170
Accrued income		7,297	46,918	5,297	46,918
VAT recoverable		1,735		15,277	13,746
Intercompany	debtor			158,805	36,607
Rent deposit		44,326	44,326	44,326	44,326
		192,547	190,623	256,799	154,767

Creditors: Amounts falling	Creditors: Amounts falling	Creditors: Amounts falling	due
within one year
				Consolidated	Consolidated	Charity	Charity
				2022	2021	2022f	2021 f.
Trade creditors				52,454	48,098	42,664	33,263
Deferred	income			273,053	493,240	35,919	273,475
Other creditors				3,600	3,600
VAT payable					4,268
Accruals				75,103	82,568	48,513	59,974
				404,210	631,774	127,096	366,712
				Consolidated	Consolidated	Charity	Charity
				2022	2021	2022	2021
					8	f.
Deferred	income at	1 October	2021	531,887	280,200	312,122	120,960
Deferred	income —general			301,431	479,316	64,297	259,551
Deferred	income - The Hintze		Rooms		52,571		52,571
Amount	released to	restricted	and
unrestricted funds		in the SOFA		(531,887)	(280,200)	(312,122)	(120,960)
Deferred	income at	30 September 2022		301,431	531,887	64,297	312,122

				Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Charity	Charity	Charity	Charity
					2022f		2021 f			2022		2021f
	Deferred income					28,378		38,647		28,378		38,647
						28,378		38,647		28,378		38,647
11.	Movement in funds
	Group							Expenditure
				At 1			Income &		&			At 30
				October			Investment	Investment				September
				2021 f			gainsf	Losses f		Transfers f		2022f
	Restricted Funds
	Subject Leadership	Programme					108,367		(108,367)
	Subject Enrichment	Residentials					70,000		(70,000)
	Primary Programmes						38,405		(38,405)
	New Teacher Subject Days						33,300		(33,300)
	Continuing Professional			Development			22,833		(22,833)
	Total restricted funds						272,905		(272,905)
	Endowment Funds
	Teacher Training Fund			3,740,		146			(127,470)	(155,000)		3,457,676
	Unrestricted General			Funds	855,649		1,097,085	(1,250,221)			155,000	857,513
	Total Funds			4,595,795			1,369,990	(1,650,596)				4,315,189
	Movement in funds	—prior year comparative
								Expenditure
					At I		Income &	& losses on				At 30
				October			Investment	foreign				September
				2020f			gains	exchange f		Transfers		2021
	Restricted Funds
	Subject Leadership	Programme					105,016		(105,016)
	Subject Enrichment	Residentials					6,960		(6,960)
	Primary Programmes						21,820		(21,820)
	Total restricted funds						133,796		(133,796)
	Endowment Funds
	Teacher Training Fund			1,556,814			2,252,082		(43,750)	(25,000)		3,740, 146
	Unrestricted General		Funds		850,797		825,556		(845,704)		25,000	855,649
	Total Funds			2,407,611			3,211,434	(1,023,250)				4,595,795

		2022	2021
		g	g
Payable	in less than one year	65,000	65,000
Payable	within two to five years	177,904	242,904
		242,904	307,904

15.Comparative Consolidated	15.Comparative Consolidated	SOFA		Unrestricted	Restricted	Endowment	Total
				Funds	Funds	Funds	Funds
			Note	2021	2021	2021	2021
					f		f
Grants and donations				490,960	133,796	2,000,000	2,624,756
Charitable activities:
Secondary Affiliation Fees				251,270			251,270
Primary Programmes				7,150			7,150
Secondary Leadership Residential		and
Programme
New Teacher Subject Days				35,858			35,858
Other Continuing Professional Development				37,800			37,800
Other trading activities
Investments				2,518		51,066	53,584
Total Income				825,556	133,796	2,051,066	3,010,418
Expenditure on:
Raising funds				119,211		43,750	162,961
Charitable activities:
Subject Leadership Programme				67,208	105,016		172,224
Subject Enrichment Residentials				28,872			28,872
Primary Programmes				144,187	6,960		151,147
Secondary Leadership Residential		and
Programme				93,548			93,548
New Teacher Subject Days				147,075			147,075
Continuing Professional Development				197,304	21,$20		219,124
Website and CRM				48,299			48,299
Total Cost ofCharitable Activities				726,493	133,796		860,289
Total Expenditure				845,704	133,796	43,750	1,023,250
Net income / (expenditure)	before other			(20,14$)		2,007,316	1,987,168
recognised gains /(losses) and transfers
Loss on foreign exchange
Net gain /(loss) on investments			7			201,016	201,016
Transfer between funds			ll	25,000		(25,000)
Net income/(expenditure)	for	the year		4,$52		2,183,332	2,188,184
Total funds at 1 October 2020				850,797		1,556,814	2,407,611
Total funds at30September 2021				855,649		3,740,146	4,595,795