2023-09-30-accounts - The Professional Teaching Institute

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CONTENTS				Page
Reference and Administrative			Information
Trustees' Report				4 —13
Independent	Auditor's	Report
Consolitated	Statement	ofFinancial Activities		17
Consolidated	Balance	Sheet		18
Charity Balance Sheet				19
Consolidated	Statement ofCash Flows			20
Notes to the	Financial	Statements		21 -31

The Professional	The Professional	The Professional	Teaching	Teaching	Teaching	Institute	Institute
The Professional			Teaching			Institute	is a registered charity numbered			1116224and			a	company		limited	by guarantee
numbered		05910443.		The charity/company changed its name from The							Prince's Teaching				Institute to The Professional
Teaching	Institute		with effect from				24 July 2019.The company		was	incorporated			on 18August 2006 and effectively
commenced its activities					on	1 January 2007.The company is registered					in	England &Wales				and its	registered office is
14-15Lower Grosvernor					Place, London, SW1W OEX.
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		of Huyton
							Richard Sheriff
Company		Secretary					Claire Clark
Co-directors							Carolyn Roberts
							Christopher N. H. Pope		(to	31 December			2022)
							Hugh Rayment-Pickard		(from 16			January	2023)
PTI Education			Ltd				The charity established		a trading		subsidiary,			PTI Education			Ltd on 31 August
							2016.It is a company	Limited by				shares numbered			10353080and is registered
							in England &Wales. Its		registered			office	is	14-15	Lower Grosvenor Place,
							London, SW1W OEX
Auditor							Haysmacintyre LLP
							10Queen Street Place
							London
							EC4R 1AG
Legal advisors							Farrer &Co
							66Lincoln's Inn Fields
							London
							WC2A 3LH
							Penningtons Manches	LLP
							125Wood 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 SWl Y5EY
Principal	address	l4-15 Lower Gosvenor Place
		London
		SW1W OEX

					Unrestricted	Restricted	Endowment	Total	Total
					Funds	Funds	Funds	Funds	Funds
				Note	2023	2023	2023	2023	2022
					8				K
Income and endowments	from:
Grants and donations					630,142	129,369		759.511	918.783
Charitable activities:
Secondary Affiliation Fees					267.892			267,892	283.278
Primary Hubs					42,000			42.000	30.000
Lcadcrships Residentials and		Programmes			7.175			7,175	12.145
Ncw Teacher Subject Days					25.534			25,534	21.161
Subject Enrichment Residentials					13.185			13.185	23,813
Other Continuing Prot'cssional			Development		24.255			24.255	37,107
Other trading activities					I6.432			16.412	39.600
Investments					16,709			16,709	3.883
Total Income					1,043,:124	129.169		1.172.691	1.369,990
Expenditure on:
Raising I'unde					117.776			137.776	182.711
Charitable activities:
Subject Leadership Programme					96.706	107.250		203.956	222.799
Subject Enrichment Residentials					292.237			292,237	298.824
Primary Hubs					168.352			168,352	142.073
Leadership Residentials and	Programmes				157.916			157.916	188.928
New Teacher Subject Days					208,607	11.850		220.457	212453
Continuing Professional Development					228,423	10.269		238,692	236,501
Website and CRM					46.089			46,089	38,837
Total Cost ofCharitable Activities					1,198.330	129,369		1127699	1140415
Total Expenditure					1.336.106	129,369		1,465,475	1,523,126
Net income / (expenditure) recognised gains /(losses)	before other and transfers				(292.782)			(292,782)	(153,136)
Nm gain /(loss) on investments				7	6,809		151,855	158,664	(127470)
Transfer between funds				ll	286,136		(286,136)
Net income / (expenditure)	for the year				163		(134,281)	(134,118)	(280.606)
Total funds at I October 2022					857.513		3.457.676	4.315,189	4.595.795
Total funds at 30September		2023			857,676		1,323,395	4,181.071	4.315.189

				2023	2023	2022	2022
			Note			5	5
Fixed assets
Tangible	fixed assets				46,007		58,025
Investments					3,693,705		3,253,670
					3,739,712		3,311,695
Current	assets
Debtors				413,084		192,547
Cash at bank		and in hand		368,825		1,243,535
				781,909		1,436,082
Creditors
Amounts	falling due within
one year			9	(322,441)		(404,210)
Net current		assets			459,468		1,031,872
Creditors
Amounts	falling due after one
year			10		(18,109)		(28,378)
Net assets					4,181,071		4,315,189
Funds
Restricted	funds		ll
Endowment		funds	11		3,323,395		3,457,676
Unrestricted		funds	11		857,676		857,513
					4,181,071		4315 189

				2023	2023	2022	2022
			Note			5	5
Fixed assets
Tangible	fixed assets				46,007		58,025
Investments					3,693,706		3,253,671
					3,739,713		3,311,696
Current assets
Debtors				345,085		256,799
Cash at bank		and in hand		242,473		902,168
				587,558		1,158,967
Creditors
Amounts	falling due within
one year			9	(128,091)		(127,096)
Net current		assets			459,467		1,031,871
Amounts	falling due after one
year			10		(18,109)		(28,378)
Net assets					4,181,071		4,315,189
Funds
Restricted	t'unds		ll
Endowment		I'unds	11		3 323 395		3457 676
Unrestricted		funds	II		857,676		857,513
					4,181,071		4,315,189

						2023	2022
Cash flow from operating	activities
Ner cash (used in)/provided	by operating	activities				(606,813)	(381,723)
Cash flow from investing	activities
Investment income						16,709	3,883
Purchase of tangible fixed assets						(3,235)
Acquisition of fixed asser	investments	through		investment
manager						(415,000)	(3,381,140)
Proceeds from disposal of	fixed asset	investments			through
investment manager						133,629	3,381,140
Net cash (used in)/provided	by investing		activities			(267,897)	3,883
Change in cash and cash equivalents						(874,710)	(377,840)
Cash and cash equivalents	at the start	ofthe year				1,243,535	1,621,375
Cash and cash equivalents	at the end	ofthe year				368,825	1,243,535
(i) Reconciliation of net	income to net		cash	flow from
operating activities
						2023	2022
Net expenditure						(292,782)	(153,136)
Adjustments for:
Depreciation charge						15,253	15,054
Investment income						(16,709)	(3,883)
Increase in debtors						(220,537)	(1,924)
Decrease in creditors						(92,038)	(237,834)
Net cash (used in)/provided	by operating		activities			(606,813)	(381,723)

				Leadership	New	Other
2023	Subject	Subject		Residentials	Teacher	Continuing	Website	Total
	Leadership	Enrichment	Primary	And	Subject	Professional	And	Funds
	Programme	Residentials	Hubs	Programmes	Days	Development	CRM	2023
Activities direct costs	65.450	156.865	31,910	36,071	79,167	30.215	24,740	424.418
Support costs
Wages and salaries	95,533	84.886	98,632	69.287	95,098	137.914	15,866	597.216
Consultancy	9,181	17.458	4.521	22,831	11.721	11.573	275	77,560
General office cosIs	27.601	26.977	27,190	24,281	28,156	49,672	4,254	188,131
Governance cosIs	6,191	6.05 1	6.099	5,446	6,315	9.318	954	40,374
	138.506	135,372	136.442	121.845	141.290	208,477	21.349	903,281
	203,956	292,237	168,352	157.916	220.457	238.692	46.089	1,327.699
				Leadership	New	Other
2022	Subject	Subject		Residentials	Teacher	Continuing	Website	Total
	Leadership	Enrichment	Primary	And	Subject	Professional	And	Funds
	Programme	Residentials	Hubs	Programmes	Days	Development	CRM	2022
Activities direct
costs	92.737	170,931	15.831	43,126	82,159	69,483	17,856	492,123
Sappon costs
Wages and salaries	85,117	78,466	78,913	92,802	85,023	100.712	14.893	535,926
Consultancy	9,063	14,142	12.500	12.776	9,325	9,658	300	67.764
General office cosIs	29.887	29,390	29.010	33,503	29,940	48,949	4,821	205,500
Governance cosIs	5.995	5,895	5.819	6.721	6,006	7,699	967	39,102
	130.062	127,893	126.242	145,802	130.294	167.018	20.981	848.292
	222.799	298,824	142,073	188,928	212.453	236.501	38,837	1,340.415

											2023	2022
Wages and salaries											91,193	93,849
General office costs											24,037	29,782
Direct fundraising	and event-related			costs							22,546	59,080
											137,776	182,711
Governance costs
											2023	2022
												g
Wages and salaries											19,320	19,056
General oft)ce costs											6,054	6,946
Auditor's remuneration-		The Professional				Teaching		lnsututc	(audit fees)		9,700	8,400
		- PTI Education			Limited		(audit fees)				2,900	2,500
		- The Professional				Teaching		Institute	(non-audit	fees)	1,200	1,100
		- PTI Education			Limited		(non-audit		fccs)		1,200	1,100
											40,374	39,102
Staff costs
											2023	2022
Wages and salaries											592,013	540,151
Social security costs											59,717	55,778
Contributions to personal		pension	schemes								55,999	52,902
											707,729	648,831


6.	Tangible Fixed Assets —Charity and Consolidated	Website and	Office
		Computer	Fittings and
		Equipment	Equipment	Total
				g
	Cost
	As at 1 October 2022	73,302	83,557	156,859
	Additions	3,235		3,235
	At 30September 2023	76,537	83,557	160,094
	Depreciation
	At 1 October 2022	73,302	25,532	98,834
	Charge during the year		15,253	15,253
	At 30September 2023	73,302	40,785	114,087
	Net Book Value
	At 30September 2023	3,235	42,772	46,007
	At 30September 2022		58,025	58,025
7.	Fixed Asset Investments		Listed	Listed
			2023	2022
	Consolidated
	Market value brought forward		3,253,670	3,346,241
	Acquisitions at cost		415,000	3,381,140
	Less disposal proceeds		(133,629)	(3,346,241)
	Gains and losses on investments		158,664	(127,470)
	Market Value Carried Forward		3,693,705	3,253,670
	Historic cost oflisted investments		3,664,564	3,381,140

ts trading results	, extr	acted from its audited accounts were as	follows:
			2023	2022
				g
Turnover			1,641,474	1,702,324
Cost ofsales			(399,678)	(474,266)
Gross profit			1,241,796	1,228,058
Administrative	expenses		(1.209,551)	(1,069,780)
Operating profit			32,245	158,278
lntcrcst			1,764	528
Prul'it before taxation			34,009	158,806
Tax on profit
Profit for the financial		period	34,009	158,806
Gift Aid Payment			(34,009)	(158,806)
A summary of its assets is shown below:			2023	2022
				g
Debtors			158,313	108,095
Cash at bank and in hand			126,352	341,367
Creditors falling	due	within one year	(284,664)	(449,461)
Net current assets

Debtors
		Consolidated	Consolidated	Charity	Charity
		2023	2022	2023	2022
			K
Trade debtors		89,664	92,760
Prepayments		76,023	46,429	57,537	33,094
Accrued income		202,428	7,297	202,265	5,297
VAT recoverable		5,969	1,735	12,275	15,277
Intercompany	debtor			34,008	158,805
Rent deposit		39,000	44,326	39,000	44,326
		413,084	192,547	345,085	256,799

9.	Creditors:	Amounts	falling due
	within one	year

within o	ne year
					Consolidated	Consolidated	Charity	Charity
					2023	2022	2023	2022
							8
Trade creditors					23,393	52,454	72,311	42,664
Deferred	income				226,032	273,053	22,069	35,919
Other creditors					3,600	3,600
Accruals					69,416	75,103	33,711	48,513
					322,441	404,210	128,091	127,096
					Consolidated	Consolidated	Charity	Charity
					2023	2022	2023	2022
								K
Deferred	income	at	1 October	2022	301,431	531,887	64,297	312,122
Deferred	income	—general			203,963	301,431		64,297
Amount	released	to	restricted	and
unrestricted funds			in the SOFA		(261,253)	(531,887)	(24,119)	(312,122)
Deferred	income	at	30September 2023		244,141	301,431	40,178	64,297

10.	Creditors: Amount	s f	alling due after	one year	one year
				Consolidated		Consolidated		Charity		Charity
				2023		2022			2023	2022
					g	g			g	K
	Deferred income				18,109 28,378				18,109	28,378
					18,109 28.378				18,109	28.378
11.	Movement in funds
	Group					Expenditure
				At I		Income &		&		At 30
				October		Investment Investment				September
				2022		gains	Losses		Transfers	2023
				g					f,	g
	Restricted Funds
	Subject Leadership	Programme				107,250		(107,250)
	New Teacher Subject Days					11,850		(11,850)
	Continuing Professional		Development			10,269		(10,269)
	Total restricted ftmds					129.369		(129,369)
	Endowment Funds
	Teacher Training Fund			3,457,676		151,855			(286,136)	'3,323,395
	Unrestricted General		Funds	857,513		1,050,133	(1,336,106)		286,136	857,676
	Total Funds			4,315,189		1,331,357	(1,465,475)			4,181,071
	Movement in funds	—prior year comparative
						Expenditure
				At I		Income & & losses on				At 30
				October		Investment	foreign			September
				2021		gains	exchange		Transfers	2022
								K
	Restricted Funds
	Sublect Leadership Programme					108,367		(108,367)
	Subject Enrichment Residentials					70,000		(70,000)
	Primary Hubs					38,405		(38,405)
	New Teacher Subject	Days				33,300		(33,300)
	Continuing Professional		Development			22,8'33		(22,833)
	Total restricted ftmds					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

15.Comparative Consolidated	15.Comparative Consolidated	SOFA
				Unrestricted	Restricted	Endowment	Total
				Funds	Funds	Funds	Funds
			Note	2022	2022	2022	2022
				f.	5	g	8
Income and endowments from:
Grants and donations				645,878	272.905		918.783
Charitable activities:
Secondary Affiliation Fees				283.278			283,278
Pi imary Hubs				30.000			30,000
Lmdership Residentials and	Programtnes			12,145			12.145
Ncw Teacher Subject Days				21,361			21.361
Stthject Enrichment Residentials				2'3,833			23,833
(8her Continuing Professional		Development		17,107			37.107
Other trading activities				39.600			39,600
Investments				3,881			3,883
Tutal Income				1.097.085	272,905		1,369,990
Expenditure on:
Raising funds				182.711			182.711
Charitable activities:
Subject Leadership Programme				114432	108,367		222.799
Suhiect Enrichment Residenti	ala			228,824	70.000		298,824
Primary Kubs				103.668	38.405		142,073
Leadership Rcsidentials and	Programmes			188,928			188,978
New Teacher Subject Days				179,153	31,100		212,453
Cotainuina Professional Development				213,668	22,833		236,501
Webs tto and CRM				38,837			38.837
Total Cost ofCharitable Activities				1,067.510	272.905		1.340A I5
Total Expenditure				1.250.221	272,905		1.523.126
Net income / (expenditure) before other recognised gains / (losses) and transfers				(153.136)			(153.136)
Net gain / (loss) on investments			7			(127,470)	(127.470)
Transfer between funds			II	155,000		(155.000)
Net income / (expenditure)	for	the year		1.864		(282,470)	(280.606)
Total I'ands at I October 2021				855,649		3,740.146	4,595,795
Total funds at 30September	2022			857,513		3,457.676	4.315.189