THE PROFESSIONAL TEACHING INSTITUTE (An incorporated charity limiied by Guarantee) REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 R¢gisl¢red Chariiy No. 1116224 Company No. 05910443
THE PROFLSSIONAL TEACHING INSTITUTE REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEvfEMBER 2024 COFUENTS Page Reference and Administrative Inforrnaiion Trustees. Report Independent Auditor. s Report 14- 16 Consolilaled Statement of Financial Activities 17 Consolidaled Balance Sheet 18 Charity Bolance Sheet 19 Consolidaled Statement of Cash Flows 20 Noles io the Financial Statements
THE PROFES[oNAL TEACHING INSTITUTE REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2024 The direcioTS and chariiy Trustees (The "Tru5lees") of The Professional Teaching Instiiuie ('The wri") preseni Iheir reporl logeiher with the auditcd financial slalemen15 of the charily for the year io 30 September 2024. The financial staicmenls have been prepared in accordance wilh the accounting policies set Out in note l and comply with the Charily's Memor(Indum and Arlicles of Associiilion, applicable law and the requirements of Ihe FRS 102 Chariiiets SORP. the Companic's Act 21K)6 and Charilies Acl 2011. Company and Charity details: The Professional Teaching Institute The Professional Teaching Inslilute is a registered chariiy numbered 1116224 and a company limited by guarante¢ numbered 05910441. The charilylcompany ch<inged its name from The Prince's Teaching Insiitul¢ lo The Prolessional Teaching Insiilute with effeci from 24 July 2019. The company was incorporaied on 18 Augusi 2(K16 and effeLiively commenced ils aciivilies on l January 2(K17. The company is regisiered in England & Wales and ils registered office is 14_15 Lower Grosvernor Place, London, SWIW OEX. Royal Founding Patron: HM The King Honorary President Sir Harvey McGralh Directors and charity Truslees who served during the year Keith M Breslduer (Chairman) John Grcenshields Rilj Kumar (resigned l May 2024) Julie Mercer Baroness Sally Morgan of Huyion (rL'si¥ned I l December 2024) RiLhard Sheriff OBE Company Secretary Claire Cl<irk Co-directors Carolyn Roberls Dr Hugh Rayment-Pickard MBE PTI Edueation Ltd The charily eslablished a Irading subsidiary, PTI Education Lid on I l Augusl 2016. It is a company Limited by shares numbered 10353080 and is regisiered in England & Wale5. Ils regisiervd office is 14_15 Lower Grosvenor Place, London. SWIW OEX Auditor Haysmac LLP l O Queen Streei Place London EC4R IAG Legal advisors Farrer & Co 66 Lincoln's Inn Fields London WC2A 3LH Penninglons Manches LLP 125 Wood Street London EC2V 7AW
THE PROFESSIONAL TEACHING INSTITUTE REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 30 SEIryEMBER 2024 Financial advisors CCLA Investment Managemeni Ltd Two Filzroy Place One Angel Lane London EC4R IAB Bankers HSBC Bank plc 69 Pall Mall London SWIY SEY Principal address 14-15 Lower G05venor Place London SWIWOEX The foregoing legal and adminislralive informalion is correct as at 3 February 2025.
THE PROFESSIONAL TEACHING INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Objectives, activities and public benefit Objectives The PTI is committed to improving Ihe educaiion ofchildren in 51ate schools in England and Wales. Working in parinership with the University of Cambridge. il aims lo inspirL' leachers lo give young people aspiration and Iransformalive subject experiences. The Trusiees are pursuing Ihis objeci by working with school teachers io.. Promote inspiring subject teaching.. Working wilh eminent academics and speakers. The PTI re-igniies l¢achers' passion for iheir subject and promoles Ihc idea Ihai subjeci rigour is esseniial for cffeclivL le<iLhin8 to hildren of all abilities, as opposed lo concentraling only on examinaiiun specifications. Through rc-igniling teacher ambition, Sludenl aspirations are raised in turn. Maintain standards of school subject provision.. The ]ryl work5 with schools 10 ensure Ihal Ihey make rigorous curriculum chi)ices, avoiding "easy choiccs" Ihal re.suli in children not recLiving a good grounding of knowledge for life. It cncourages teachers lo teach beyond Ihe lesi, iniroduce more subjecl-based exlra- urricular aciivilies, increa.se Ihe amount of subjeLI-based Iraining received by staff in dcparlmenls and bcc(Ime involved in morL 5ubject-based nelworks ouisid¢ school. Activities The FTI helps leachers 10 learn from Ihe cxample of thc best of Iheir pecr.s and Icading academics and cxperls, li works wilh school leaders ai secondary and primary levLls and aLross Ihe following subjLcis'. English, Hisiory. Geography, Maihem411iCS, Science, Mudern Foreign Languages, Art.Music, Physical Education and Design & Technology, L£ader3hip Programme and Leadership Residenlials Members olschool leadership teams join The Leadership Programmc lo focus on whole school leadership lo drive and suppori the improvement of education for all children regardless of background or ability. This is achieved through three key Ihemes.. Eihos, Curriculum and People & Inclusion. The programme concludes wilh an ()nline one lo one r¢view which will determine Ihe award of The vri Leadcrship Mark for display at school. use on school sliilionery and on their websiie. Induction is often via a School's Hi'adteacher attending the Primary or Secondary Leiider5hip Symposium. This is a two day residential conference for Headteachers and MAT system leaders thai providLS a forum lor refleciion on issues aboui school leadcrship. Pariicipanls in Ihe Secondary Leadership Symposium are inviled to conlribule to The l'S series of books on school leadership. The first book is called Well Educaied.. Leadirts schools with wonder, joy and wisdoni which will be published by Routledge in Autumn 2025. The Department Development Programme and Subjeci Enrichment Residential The Department Development Programme is an ongoing prolessional development paihway for subject leaders. It is built from a nalional nelwork of Subject leaders seeking lo make the gles1 impact within their schools. Members of the Programme develop leadership approaches aimed al supporling effective teaching and learning within Iheir deparlm¢nt. The Fri team supports school departments over the academic year to: Develop a challenging, innovative and enriching curriculum: Provide greater challenge and depth in the curriculum. Improve teacher confidence and subject knowledge. and Increase Siudent enjoyment and subjecl Uplake
THE PROFESSIONAL TEACHING INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Those suceessfully completing the prograrnmme achieve The vri Mark wilhin their department for displÉly ai school, use on school stationery and on their website. Every year deparlmenls displaying the most progress are nominal¢d for the Bernice Mccabe Award. After discussion by a panel of distinguished judges. visits are undertaken lo the top three deparlments, E4nd the Award is given to the winner al The vri's VIP Dinner. Induction onto the Programme is via a Head of Department, or delegated representative, atlending a Subject Enrichmenl Residential. The residenlials are three-day resideniial events where lop academics join teachers 10 re-inspire them and provide a stimulating introduction to the Subjeci Leadership Programme. During the Subject Enrichment Residential, delega can choose wheiher they wish their deparlments to opl into the Department Developmeni Programme. Continuing Professional Development CPD ¢onsi515 of.. one.day Subject Days, run by leachers, with adminislralive help from The IYI office, which bring delegates into contact with experis in a given topic and give Ihem a forum to con.sider inspiring ways to bring the lOPiC to life in Iheir Llassrooms. Online Courses typically held afier school hours. led by leachers. For some courses, delegales are required (o have listened lo a pre-recordcd leciure prior to the seminars. and the online seminars are used io discuss leaching approaches 10 the topics in hand. Oiher courses have a "live" lecture from an emineni speaker followed by queslions and answers. New Teacher Subjeci Days These courses of four Salurdays during the year are designed for school-based teacher trainees, and Early Career Teachers. Each Saturday considers a different topi¢ in Ihcir subject and consists of a mixture of lectures and workshops run by FTI TLacher LeadLrs. During the course P4)rlicipants are required lo develop a Learning Resource that will bc of use nol jusl for thcin bul also for oiher members of their departmenis ai sLhool. Teachers who produce the mosl accomplished Learning Resource are awarded a Marlin Roberls Prize. Middle Leader Ceriificate.. Curriculum Design The Middle Lcader Ceriifical¢ is a personal accredilation course aimed at dcveloping aspiring and eslablished subject leaders Ihrough Ihe design and delivery ol challenging schemes of work and how Ihese are arranged within a cU1cUlum. Develop inspiring lessons and sirengthen your subjeci leadership. The Middle Leader Certificaie enables teachers 10: Aiiain a personal ac¢rcdilalion Gain expertise leading teaching & learning Build Iransformative classroom praclices Develop cross-phase long term planning Design & develop challenging schemes of work Enhance subject knowledge & siudent experience Aitend online tutorials & receive support This course consists of two modules. a micro module and a macro module, which can be completed in any order. Each mixiule lakes two terms to complete. The micro rnodulc focuses on the design, delivery and reflection of a challenging scheme ol work. The macro module concentrales on curriculum design in the form of long-ierm planning across ai least two key stages. Public benef The vri is commit*d io improving the education of children in stat¢ schools in England and Wales.
THE PROFESSIONAL TEACHING INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEwfEMBER 2024 The Trustees considervd ihe Chariiy Commission's guidance on Public Bencfil. including the guidance "public benefit: running a charity (PB2)" when Teviewing the charily's aims and objeclives. in adminisiering ils activities during Ihe year and in planning ils fulure aciivilie5. They believe Ihat the charity's aciivilies demonsiraie Ihe benefit derived by the nation's children. The FTI already has a significant impaci on disadvantaged young people through Ihe teachers and schools we work with. Pupils facing disadvantage are nol only those likely lo suffer worsi where subject teaching is not strong, they are also those who benefit most from The PTI'S work. The Education Endowment Foundation, puis Ihis succinctly. Supporting high quality leaching is pivolal in improving children's oulcomes. Indeed, rcse<irch lells us thai high qualily teaching can narrow the disadvaniage gap., As parl of our five-year plan (202.3_28) we aim lo extend our work io impaci each year on 250,O¢K) young people facing disadvaniage. The lryl's activities are open 10 all leachcrs. For teachers from slaie schools, modL'st charges are madc for Prograrnmes affiliation and for PTI evenis which do not covcr Ihv c051s of providing Ihe services. ThLsv charges defray immediale COSts and help incentivise leachers io nol withdraw from the courses al shori notice. A significanl numbcr of courses are now conduclLd online and afier school. furiher facilitaiing access for teachers. Inclusion and Diversity Ai The PTI, we sirivc io create an inclusive culture that is welcoming, acce.ssiblL and supporlive lo leachLr%. donors and FrI empli)yees from all backgrounds. Our Inclusion and Diversity Forum looks ui issuLs relatin8 10 inLlusion and diversiiy within The PTI siarr leam. W¢ seek 10 build subjLCt ieams (hai embrace, celebraie and represeni Ihe divLrse lalenl within the leaching profession and broader socieiy. We 5eck ways 10 advocal¢ f<)r a diversL and inclusive teaching profession and u%¢ our dLvelopmeni offer lo promote career opporluniiies for every leaLher. Wc educate our workforce 10 improve our undersliinding of barriers faced by partiLular groups so Ihai all areas of our organisation work logLlher to removL these barrier5 for our leachers and slakLholders. We champion divcrsily in our LommuniLaiions. Achievements in 2023124 Context andprioritiesfor ¢he year The charity enjoyed signtficanl growih in the first year of its new five-year siralegic plan. The ovvrdll numbcr of schools increased from 430 to 664. Primary Hubs schools were up from 140 10 .199 and Primary Hubs up from seven lo 20. In- person CPD aiiendance in¢Teased from 104 10 146 and attendance al Subject residentials al Cambridge and York were up from 104 10 128. Overall leacher numbers rose from 3918 to 4324. Direcl leacher engagement was Ihe largesl in The FryI's history (excepiing the COVID years, when numbers were inflated by online altendances.) The charity conlinued to increase ils fuS on di5advanlaged pupils, serving I10,O(K) pupils on free school meals. We aim lo double this number by 2028. We extended our reach inio high-need communilies such as Teesside, Grealer Manchester and Leeds. We esiablished a new base for vrI activities in Ihe north of England in partnership wilh The University of York. Subject Ennchment Residentials We ran two subject enrichmeni resideniials during Ihe year covering eighi subjects: June 2024- The Universiiy of York for 67 Heads of Deparlmeni in History. Geography. English and MFL July 2024.. Downing College Cambridge for 61 Head5 of Department in PE. Design and Technology. Maihs and Science. 92 % of allendees said thal they fell 'more reinvigoraled and more exciled aboul leaching and Ihe leaching profession. and 95% believed 'that within six months this approach will be having an impact on my pupils. In their feedback teachers spoke about the depth of impact. It has taken me back the basics of teaching and what is importanl. It has shown ihe importance of collaboration and sharing ideas and best practice. Whether you are in your first year of leaching
THE PROFESSIONAL TEACHING INSTITUTE TRUSTELS? REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 or 20 years in. we are always learning and developing. It was a nice reminder 10 us all why we chose this PTofession.' 'The PTI residenlial has been, by far, the besi CPD and ongoing programme that I have engaged with in my 7 years of leaching. The Bernice Mccabe Award In memory of The PTI'S founding Co-Direcior and former Headmisiress of North London Collegiaie School. Bernice Mccabe. we ins(igaled the Bernice Mccabe Award in 2020. This award, worth £5,000 10 the winning department, celebrales the work of the besi departmeni in our Subjeci Leadership Prograrnme. The Geography Departmeni al St Edward's College, Liverpool won the Bernice Mccabe Award during a ceremony al Bulchers, Hall. London in March 2024. Si Edward's College was nominaied for culiivaiing a community of Geographers who enjoy and engage wilh the discipline in everyday silualions promoting geographical idenlily boih ouiside of the classroom and outside of the school day. This has been achieved through a diverse array of aclivities which conlribuie to a cumulative geographical elhos. collaboraling wilh a range of external agencies. Previous Bernice Mccabe Award winners have been.. 2020: Claire Brown, Music: Mounis Bay Acaderny. Penzance 2021.. Jack Cockayne, Geography.. Broadway Academy, Birmingham 2022: Richard Jagger. Mathematics: Leeds We8t Academy 2023: Hannah Lees, Geography: Thomas Tallis School, London Primary Impact Award Calsiock Community Primary School in Cornwall won Ihe inaugural lryl Primary Impaci Award al a ceremony al BulchL'rs' Hall, London in Mch 2024. The vri's PTimary Impact Award promote5 and celebrates excellence in primary leadership, recognising primary schools thal pul qualiiy subjccl teaLhing ai ihe hearl of the classroom. Calstock Community Primary School was nominaled foT ihe journey the school has made 10 innovate and improve the leaching of geography across the school and federalion. To achieve ihis Ihe school initialed. delivered and field-tested a redesigned Geography curriculum. Calslock Community Primary School is located in a relatively remoie and rural parl of Cornwall, welcoming childrLn to a community of learning wilh a culiure of high expeclalion and aspiraiion where all effort and achievcmenl, in any arca, is valued. School Leadership Symposium We ran a successful School Leadership Symposium al Fanhams Hall in February 2024 with Primary and Secondary streams running concurrently, and 58 Headieachers were pleased to have Ihe opporlunily to discuss issues of CU1cUluM across primary and secondary phases. The evalualions were exir¢mely p05ilive'. l 00% of attendees found Ihe residential a valuable experience and 100 said Ihal aiiending would have an impact on their School, New Teacher Subject Days courses 131 secondary Early Career Teachers (ECT5) were booked on our courses al centres in London and Manchester. Feedback was extremely positive with 98% of delegates saying they had found the course valuable. We awarded 12 Marlin Roberts Prize5. CPD Days This year we ran 9 CPD days across five different subjects. We had 116 leachers altend a CPD day over the year, representing 97% of bookings. The days were very well received wilh 98<% agreeing that they were a valuable experience.
THE PROFESSIONAL TEACHING INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEIYEMBER 2024 Primary Hubs Our Primary Hubs network continued to grow to thirtevn hub5 by the year end, increasing the numb¢r of schools engaged from 140 10 399. 808 teachers allcnded a primary hub day or online event in 2023_24 with 98% reporting that attending the course will have an impacl on pupils. The expansion of Prim<iry Hubs is al Ihe cenire of our new five-ycar strategy. Online courses This year we ran 40 online courses across l O different subjects. The courses were very well received with 95 agreeing thai Ihe course was a valuablc experience. We had 744 leachers atiend an online course - 145 more Ihan last year. Department Development Programme The DDP had a successful year culminaiing in our firsi Fesiival Day held at Friend8 House, Euston. 142 PTI marks were awarded. Feedback from leachers emphasised the 'many practical ideas tu lake 10 my classroom as well as ideas for CPD sessions lo support my dcparlmenl. As always. The wri sessions offer relevant and practical ideas lo lake back to sch()ols, as w¢ll as offering importanl discussion lime wilh oihLr teachers. Teacher Leader Certificate This year we have piloted Ihe Te(Icher LL'ader Ccriificale. a personal accrvdilalion Ihal is awardLd lo aspiring leachLr leaders in reLognilion of their work in dLsigning ch(Illenging, inspiring CPD evenls which reflect The vri's principles and objectives. We had six leachLrs enrollcd on Ihe inaugural course. Ambassadors We ar¢ delighted lo welcorne four new PTI Ambassadors: Rosie Galligan is an English rugby union player. She is a member of Ihc England women's national rugby union team and plays for Saracens al club ILvel. RosiL spoke al our Cambridge PE rcsideniial in 2024. Jeffrey Boxkye is an ex-teacher turned wriier. speaker and educator, known for weaving iogeihcr Lomplex issues of our limL in an acccssible and engaging way. With a particular inieresl in issues surrounding race, masculinilyl education and popular culture, Jeffrey uses his charisma, ¢nergy and lalenl for the spoken and writlcn word to write and educate. Jeffrey spoke at our 2024 York English residential and will be speaking ai our Leadership Symposium in February 2025. Bobby Seagull is a maihemalics teacher, broadcaster and wriler. In 2017 he was captain for Emmanuel College, Cambridge's University Challenge team and in 2018 hosted Monknian & Seagull's Genius Guide lo Brilain. His second book, The Life-chaiising Magic of Niinibers, was published in 2018. Bobby attended our Cambridge residential in 2015. K¥ddiatu Kanneh-mason is a forn]er lecturer in English at The University of Birmingham. Her memoir, Hoiise of Music.. Ratsing ihe Kaiineh-masons, won the Royal Philharmonic S(Kiely's Sioryielling Award. Kadiatu has seven children, all of whom are classical musicians. Fundraising We are regislered with the Fundraising Regulalor and commit to our fundraising being legal, transparent, respeciful and meeting the standards set in Ihe Fundraising Code of Praclice. We also ensure Ihal nobody who appears lo be vulnerable is asked to commit lo giving. Fundraising is carried out by Ihe Head of Fundraising assisied by the Developmeni Co- Ordinator. The charity is immensely grateful to its loyal communiiy of supporters who give generoulsy to sustain our work. While Ihe PTI has a complainls policy published on our web51te, in the year under review we received no complaints.
THE PROFESSIONAL TEACHING INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEvfEMBER 2024 Financial commentary Income, expenditure and movements in funds Toial income for the year was £1.244k (2022123.. £1.171k) and total expenditure was £1,538k (2022-23: £1.465k), and afr gains on fo ign exchange and investmenis. total funds increased from £4.181 k 10 £4,390k. Excluding movements in endowment funds. ioial income during ihe period under review was £1,244k (2022123: £1.173k) and total expendiiue £1.538k (2022-23: £1.465k). No furiher donaiions io the Teacher Training Fund were expected or received duTing Ihe year under review. The fund is an expendable endowment fund Ihat is both capilal and income, P4nd the maximum drawdown per annum is 4 of the value of ihe fund on 31 si December of Ihe financial year in question. On 31 si December 2021 the fund was valued at £1,625.559, making £145.022 available. which has been drawn down. Together with income. managemeni charges and gains on investrnenls. Ihe endowmeni fund increased 9.9 10 £3,652k (2023: £3,323k). Following this drawdown, Ihe charily posted a shorifall on unrestricted funds of £119k for Ihe year under review (2022123: surplus of £163). Voluntary income wa5 £856k (2022121.. £760k, 2021122- £919k). Voluniary income in 2021122 was boosted by the carry-forward of £191 k of unspent funds from Ihe COVID lockdown period. Income from charitable aclivitiLs was £348k {2022123.. £380k). Primary Hub and Secondary school afflialion fees were £IOOk (2022121: £3 Iok). Overall expendilure was £1,518k (2022123.. £1,465k). Direct Costs of charitable acliviiies was £450k (2022121: £424k). Support Losls of Lharitable aclivilies. including salaries, general office and governancc costs, increased to £948k {202212.1.. £901k). Wages and salaries increased by 7% from £708k 10 £758k owing to staff promoiion%, pay increases driven by inflation and Ihe increase from 14.4 10 14.6 FfEs. Expenditure on raising funds (including salaries but excluding invesimenl management fees) remained subslanlially the same as the previous ycar at £140k (2022123: £138k). At the year-end the Nel Assets of (he charily tolalled £4,390k (2022123; £4,181 k). Unresiricted reserves stood at £738k. The Trustees consider that the financial results rcpreseni a saiisfactory oul-turn, Reserves and Inves¢ment Policies The Fryl's minimum reserve and liquidity policies are to have three months. normal operaiing expendiluTe as cash in hand accessible immediately (fhis is currently approximately £345k). However. Ihe Trusiees recommend having ai Ihe beginning of the financial year accounting reserves al a sufficieni level to provide School Leadership and Deparlmeni Development Programme services for 12 monihs lo schools affilialed io our programmes. This is approximalely £730k, and wilh unre5tricied reserves ioialling £738k ai the year end. Ihis objective has been comfortably met. The Trusiees consider il prudent to be in this position, in Ihe light of continuing pressure on school budgels for continuing professional development and the challenging fundraising environment. In addition. Ihis level of reserves would cover liabilities in the event of the charity ceasing trading. With Ihe Teacher Training Fund at £3.7m at the year end, and with a maximum of 4 of ils 31 December value io be drawn down per annum. the majoriiy of the fund is for use in Ihe medium and long lenn. The fund is invested by CCLA on a discretionary basis in the COIF Charilies Eihical Investment Fund. Thi5 fund complies with ihe charity's ethical inveslmeni policy.
THE PROFESSIONAL TEACHING INSTITUTE TRUSTELS, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Funders and contributors The Trus*es record Iheir thanks lo all The Fri's donors and 5upporlers - boih large and small - for Iheir coniinuing suppori. and the staff and volunteers who have worked exlremely hard to achievL another successlul year for the chariiy. Future plans In 202.1124 we compleied Ihe first year of a five-year slraiegy agreed by ihe Board in July 2023. The Strategy aims to increase and iniensify The PTI'S impact on the quality and strengih of classroom leaching on young people. There is a new focus on increasing the proporlion of disadvaniaged pupils and on extending our geographical reach into under- served regions. This will significantly increase ihe number of young peoplc impacted, and schools and (eaLhers served. A ceniral pillar of the strategy is the developmenl of our work with Primary Schools, increasing our Primary Hubs 10 I IX) by 2028. We will also enhance our core offer by ensuring sustained, long-iemi support for teachers. As parl of an inLreased accounlabiliiy 10 all our slakeholdvT5. we will devclop our impacl mcasurement and reporting lo provide Ihe very besl evidence for the imp4iLI of our work on .sLhools, leachers and young people. Alongside this, w¥ will seek io amplify our voice and promoic great education Ihrough influencing, iidvocacy and conversations within Ihv sector. Structure, Governance and Management Governing documenl and membership The PTI is a registered company limited by guaraniec not having a sharL' Lapilal. The comp&iny was incorpor¢iled on 18 August 2006 and el'feclivcly cominLnLed Irading on l Jlinuary 2007. For Ihe limL being thL m¢mbLr,s ot IhL company arc the Trustees, all of wh()m havL signed a SlalemLni pledging lo coniribuie £ l io the funds ()f the L()mpany in Ihe evcnl of it being wound up and there being an in.sufticiency of funds. The company's governing documenl is Ihe Ariicles of Associalion (2019) which replaced the Mcmorandum and Articles (2006) 10 include Ihc following ch4nges'. To change of name of the charily from 'The Prince's TeaLhing Insiilule, lo 'The Professional Teaching Inslilule; To update provisions rel(Iling lo truslee bcnvfils and conflicis of inleresl. These now rcflLLI modern governance prac(ice and the Charity Commission's published 8uidance: and To change the iillc of the Presideni io 'Royal Founding Palron,, Recruitment, appointment and induction of Trustees The Trustees of Ihe charity are also directors of Ihe company for the purposes of company law. The number of Tru51ees may nol be less Ihan three or more Ihan ien. All the Tru51ees are Elected Trustees and are appointed by either the members of Ihe company in a general meeting or by the Trustees themselves. As and when required, addiiional Trustees are appoinled afier a review of (he skills and experienLe represented on the Trustee body. New Truslees receive an induction briefing aboul Ihe Charity's operaiions. Trustees are briefed aboui changes 10 relevanl egislation and regulatory fratnework5. Chair The governing document provides for the Truslee5 lo appoint a Chairman from among their number. K'ihiel (Keith) Breslauer was appointed unanimou51y as Chairman by his fellow Trusiees. io
THE PROFESSIONAL TEACHING INSTITUTE TRUSTELS, REPORT FOR THE YEAR ENDED 30 SEPTEMBER J)24 Membership of the Trus¢ee body The current Trustees are listed on page 2 of this Rcporl and have served for the year under review except where indicaied. Organisational structure and decision-making process Royal Founding Patron The Trustees record with gratilude the continuing support of HM The King and his staff. Trustees The Trusiee body administers The FYI. Il mei four limes during the period under review. Wilh Ihe exceplions listed in Note l 3. at no lirne during Ihe year did any Trusiee have a beneficial interest in transactions with the charily. The Trustees have Ihe following standing commitlees.. the Execulive Committee whose purpose is to monilor Ihe on-going business of Ihe charity Ihe Academic Commiiiee whose purpose is lo direct The l'S academic straiegy. (he Development Commiiiee, whose purpose is to assisi Ihc charity wilh fundraising the Remuncralion Commitlee whose purpose is to monilor siaff salarie5 and consultants. fees Organisalion For (he year under review the chariiy had Iwo Co-directors: Hugh Raymcnt-PiLkard manages day-to-day operations of The PTI and Carolyn Roberls, former HLadteacher of Thoma% Tallis School, leads academic policy. They were assisted by I I full-lime employees and three part-time employees. AcadLmiL activities are led by a group of praclising leachers acting ds consultan15. Claire Clark has a¢led as Company Secrel<iry. Key Management Personnel Key rnanagemenl personnel consisl of the: Full-lime Co-Director Ac(Idcmi¢ Co-Dircclor Chief Operating Officer Head of Fundraising Head of Educational Slralegy. School Development and Membership Head of Core Programmes In line with all PT[ staff, their remuneration is reviewed Iwice a year by the Remuneralion Commiiiee. Internal Controls The Truslees are responsible for the management of the risks faced by the charity with particular reference to inlemal controls and ihe miligalion of risk. The Trustees actively review the risks faced by the Charity on a regular basis and have put in place systems and procedure5 10 identify and miiigale the major risks so far as is possible. The key conirols used include.. Formal agendas and minutes for meeiings of the Trustees and the Board committees A slalement of matters reserved to the Trustees A formal Risk Register, reviewed on a regular basis Established organisalional and governance structure and reporting lines
THE PROFESSIONAL TEACHING INSTITUTE TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trusiees recognise thai sysiems can only provide reasonable, and not absoluie. assurance Ihai major risks are being adequately managed. Risk and Miligation Ai each meeling, the Trusicus review the risks lo which Ihe Lharity is exposed and they havc pul in place systems which minimise the exposure lo these risks and miligaie Ihe polenlial Ioss that might arise from them. Addilionally. a tornial Risk Register is in place, which is reviewed annually. Currenlly, the Trustees have identified Ihe followin8 three most significant risk5 to ihe charily: Fundraising uneertainty. Whilst The iyri's don()rs have staycd .%leadfasl, the economic uncertainiies and gl()bal inslabilily make predicting future fundraising challenging. Pre&sures on school budgets. Under funding pressure, SLh()ols may choosL lo reduce Iheir spL'nd on training. S¢a¢ement of Trustees, Responsibilities The Trusiees (who are also Direclors of The Professional Teaching Insliluie for the purposes of company law) arc responsible for preparing Ihe TrusiLes' Repori and Ihe finanLial siaiements in accorddnce wilh applicable law and Uniled Kingdom Accounting Siandards (UniiLd Kingdom GenLrally ALcepicd Accouniing Praclice). Company law requires ihe TruslL'es 10 prepare financial slalemLnis for cach finanLial year which give a true and fair view of Ihe slalL of aftairs of (he charilablc Company and Ihv group and of Ihe inc()ming rL.%ources and applicalion of resources, inL.luding Ihv incom¢ and expenditure, of the charitable CoTnpany and group for that period. In preparing IhLse financial slÉilemenls, the Truslees are required io.. select suitable accounling policies and ihcn apply them consislenily: observe the meihods and principlLs in Ihc ChariliLS SORP: make judgemenis and eslimales Ihai are rc&8()nablL (Ind prudent. State wheiher appliLable UK Accouniing stiindards havL b¢¢n followed. subject lo any maierial dcparlures disclosed and ¢xplained in the financial Slalemenls; and prepare the financial siaiemenls on (he going concern basi5 unless it is inappropriaie io presumc thai the Company will conlinue in bu,siness. The Truslees are responsible for keeping proper accounling records which disllose wilh reasonable accuracy at any time ihe financial posilion of (he Company and group and lo enable Ihem lo ensure Ihat Ihe financial 51alLmenls comply with the Companie5 Acl 2(K)6. They are also rcsponsible for safeguarding the assels of (h¢ Company and group and hence for taking reasonable Steps for the prevention and deieclion of fraud and other irregularities. In so far as we are aware: There is no relevan( audit information of which ihe charitable Company's auditor is unaware. and The Trustees have iaken all steps Ihal they oughi lo have lakLn lo make themselves aware of any relevant audit information and to esiablish that the auditor is aware of that information. Auditors On 18 November 2024 ihe company's auditor changed its name from hay5macinlyr¢ LLP io Haysmac LLP. The Charily's audilors, Haysmac LLP, hav¢ express¢d a willingness lo coniinue in office and a Tesolution proposing their reappointment will be pui lo the members in accordance with Ihe Companies Aci 2006. This report has been prepared in accordance wilh Ihe Statement of Recommended Practice Accounting and Reporting by Chariiies SORP 2015 (FRS 102) (Second Edition, effective l January 2019) and in accordance with the special provisions of the Companies Act 2(K)6 relating to small entities. 12
THE PROFESSIONAL TEACHING INSTITUTE TRUSTEFS, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 By order of th ustees ' Ihiel (Keilh) Bre Chairman uer Date: 3 February 2025 13
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PROFESSIONAL TEACHING INSTITUTE FOR THE YEAR ENDED 30 SEwfEMBER 2024 Opinion We have audiied ihe financial 51alements of The Professional Teaching Insiilute for Ihe year ended _30 Sepiember 2024 which comprise ihe Consolidated Sialement of Financial Aclivilies, Ihe Consoltdated and Pareni Charitable Company Balance Sheels. the Consolidated St(Itemenl of Cash Flows and noies lo Ihe financitil slalernenls, including a summary of significani accounting poliLies. The financial reporling Iramework that has been applied in their preparaiion is appli¢ablL' law and Uniled Kingdom Accounling Siandards, including Financial Reponing Standard 102 The Financial Rvporling Standard applicable in the UK and Republic of Ireland (Uniled Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statemenis.. give a true and fair view of the stale of the group's and of Ihe parent charilable company's affairs as al 30 September 2024 and of Ihe group's and parcni charitable company's nel movemenl in funds. including ihe income and expenditure, for the year then ended. have been properly prepared in aLcordance wilh United Kingdom Generally AcLepled Accouniing Practice; and have been prepared in accordance wilh the requirements of Ihe Companies Aci 2(K)6. Basis for opinion We conducicd our audit in accordance wilh Inlernaiional Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibililiLs under those standards are luriher dcscribed in the Audiior's responsibiltiics for the audit of Ihe financial slalemenis seLlion of our reporl. WL are independeni of the group in siccordlince wilh Ihe cihical requirements Ihat are relevani io our audil of Ihe financial Slalvmenls in the UK, including Ihe FRC'S Ethical Siandard, and we have fulfilled our other eihical responsibililies in accord41nce with these rvquircmenls. We belicve thai Ihe audil evidence we have obiained is suffiLient and approprialL lo provide a ba.sis for our opinion. Conclusions relating lo going concern In audiling Ihe financiul siaiLmenls, we have concluded thai Ihe Iruslees, use uf Ihc going concern basis of accounting in the preparation of Ihe finanLial siaiernenls is appropriate. Based on the work wc have performed. we have noi idenlificd any malerial unceriainiies Telaiing 10 events or conditions Ihat, individually or Lolleciively, may casi significant doubl on the group's abilily to coniinu¢ as a going Loncern f()r a period of ai leasl IwLlve months from when Ihe financial Slalements are auihoriscd for issue. Our responsibilili¢s and Ihe responsibililies of the Iruslees wilh respecl lo going concern are described in Ihe relevani sections of Ihis report. Other informalion The Truslees are responsible for Ihe other information. The olher information comprises the informalion included in Ihc Trustees, Report. Our opinion on the financial statements does noi cover the other information and, excepi lo Ihe exlenl otherwise expliciily slaied in our report. we do not express any form of assurance conclusion thereon. In conneciion with our audil of the financial slalemenls, our responsibility is lo read Ihe other informaiion and, in doing so, consider whether Ihe oiher informaiion is materially inconsislenl wilh Ihe financial staiemenls or our knowledge obiained in the audit or otherwise appears to be malerially misslaled. If we identify such material inconsistencies or apparent material misslatemenis, we are required to deiermtne whether Ihere is a material misslalemeni in Ihe financial stalements or a material misstatement of Ihe other informaiion. If, based on the work we have performed. we conclude Ihal there is a material miss¢aiemeni of this other information. we are required to report thai fact. We have nothing to reporl in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in Ihe course of the audit: the infonnation given in the Trusiees. Report (which includes Ihe directors, report prepared for the purposes of company law) lor the financial year for which the fInancial slaiemenls are prepared is consisieni with the financial statements. and Ihe direclors. report included wiihin the Trusiees, Report have been prepared in accordance with applicable legal requirements. 14
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PROFESSIONAL TEACHING INSTITUTE FOR THEYEAR ENDED 30 SEPTEMBER 2024 Matters on which we are required to report by exception In the lighl of the knowledge and understanding of the group and Ihe parent ¢haril¢ible company and ils environment obiained in the course of the audit, we have not identified material missialemenis in the Truslees. Repon (which incorporales the direclors. report). We have nothing lo repori in respeci of Ihe following mallers in relation to which the Companies Acl 2006 requires u5 10 report to you if, in our opinion.. adequate accounting records have nol been kept by the parent chariiable company; OT the parent chariiable company financial statements are noi in agreement wilh the accounling records and relurns; or certain disclosures of Trustees, remuneration specified by law are not Mle., or we have not received all the information and explanations we require for our audil. or the Trustees were not eniiiled to prepare the financial slatemenis in accordance wilh the small companies, regime and thke advaniage of the small Lompanies. exempiions in preparing the Trusiees. repori and from the requiremenl lo prepare a slraiegic r¢pori. Responsibilities of Trustw for the financial statements As explained more fully in the Trustees, responsibilities statemenl set out on page 12, Ihe TTUStees (who are also the directors of Ihe charitable company for the purposes of company law) are responsible for the preparalion of the financial siaiemenls and for being S<isfied that IhLy give a true and fair view, and for such intcrnal control as the Truslees delermine is necessary 10 enable thc preparalion of financial statcmenls (hai are frc¢ from material misslatemeni, wheiher due lo fraud or error. In preparing Ihe financial slalemenis, thL Trustces are responsible for ossessing the group's and Ihe parent charitable company's ability 10 continue as a going concern, disclosing. as applicable, matlcrs relaled to going concern and using the going concern basis of accounting unless Ihe Trustees either intend io liquidaie Ihe group or the parent chariiable company or lo cease operalions, or have no realistic alternative but io do so. Auditor's responsibilities for the audit of the finaneial statements Our objectives are to obiain reasonable assurance about whether the financial slalemenis as a whole are free from material misslulemenl, whether due to frdud or error, and lo issue an auditor's report Ihat includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee (hat an audit conducted in accordance with ISAS (UK) will always delecl a material misslalement when il exists. Missiaiemenls can arise from fraud or error and are considered material if, individually or in the aggregate. Ihcy could reasonably be expected io influence the economic decisions of users iaken on the basis of Ihese financial statemenls. Irregularities, including fraud. are instances of non-compliance wilh laws and regulalions. We design procedures in line wilh our responsibililies, outlined above, to delect material mi5slaiements in respect of irregularilies. including fraud. The exient to which our procedures are capable of detecling irregularities, including fraud is detailed below: Based on our underslanding of Ihe group and Ihe environment in which it operales, we idenlified Ihat the principal risks of non-compliance with laws and regulalions related lo the regulatory requiremen15 of the Chariiy Commission, employment law. data proleclion regulations, and fundraising regulations, and we considered Ihe exlenl to which non- compliance might have a malerial effect on the financial statements. We also considered those laws and regulaiions ihal have a direct impact on the preparation of the financial statements such as Ihe Companie5 Act 2(K)6, Ihe Charities Act 201 l. payroll taxes, and sales thx. We evaluated management's incentives and opporiunilies for fraudulent manipulation of Ihe financial slalements (including the risk of override of controls), and determined thai the principal risks were relaled io posting inappropriate journal entries and managemeni bia5 in certain accounting e5limales and judgements Such as ihe recognition of income al Ihe year-end. Audil procedures perlormed by the engagement team included: Inspecting correspondence wilh regulaiors and tax authorities. Discussions wilh management including consideration of known or suspecled inslances of non-compliance wilh laws and regulation and fraud: Evalualing management's controls designed to prevent and detect iTregularilies' 15
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PROFESSIONAL TEACHING INSTITUTE FOR THE YEAR ENDED 30 SEPTEMBER 2024 Idelilying and iesting journals, in parlicular journal entries posled around the year-end. Challenging assumptions and judgements made by management in their critical accounting estimales. and Reviewing trustees, minutes during the year. Because of the inherent limilalions of an audil, Ihere is a risk thal we will noi delecl all irregularities. including Ihose leading 10 a material missiaiemenl in the financial slalements or non-compliance wilh regulaiion. This risk increases ihe more Ihal compliance with a law or regulalion is removed from Ihe events and transactions reflecied in ihe financial Slalemenis, as we will be less likely lo become rfiware of inslances of non-complianLe. The risk is also greaier regarding irregularities OcLU1ng due to fraud rather than error. a5 fraud involve.s inlentional conce(Ilment, forgery, collusion, omission or misrLpresentalion. A further description of our responsibilities for Ihe audit of thc financial slalemcni% 15 located on the Financial Reporting Council's website at: www.I'rL.or T uklaudiiorsi'L.S onsibiliiies. This description forms part of our audtlOT'S reporl. Use of our report This report is made solely lo Ihc chariiable company's memb¢rs, as a body, in accordance with Chapier 1 of Pari 16 of the Companies Acl 2006. Our audil work has been undLriaken so Ihal we might Slate lo the Lhariiable company's members those mallers we are required lo slaic 10 Ihem in an Audilor's reporl and for no other purpose. To the fullesl exlenl pcrmillLd by law, we do nni accept or assume Tesponsibiliiy 10 anyone olher Ih(In the charitable company and the charilablL' company's member5 as a body. for our audit work, for Ihis rLpori, or lur Ihe opinions we have formed. Lec .Siokes (Senior Siaiuiory Auditor) For and on behlf ol H(iysMac LLP, Staiulory Audilors l O Queen Sireei Place London EC4R IAG DatL': 16
THE PROFESSIONAL TEACHING INSTITUTE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIKS FOR THE YEAR ENDED 30 SEvfEMBER 2024 UDrnstricted Funds 2024 Restricted Ful$ 2024 Endowment Funds 2024 Totsl Funds 2024 Total Funds 2023 Note Income and endowments from: Grgnts and don4tlons 698,916 157,369 856,285 759,511 Charltable actlvities: Secondary Affiliation Fees Primary Hubs Leadership Residentials and Programmes New Teacher Subject Days Subjeci Enrichmenl Re$ideniials Oihcr Conlinuin8 Profe55ional DcveloprnLni 227.552 72,(K)O 14,971 12,540 9,040 11,728 227,552 72,¢JX) 14,971 12,540 267,892 42,IMXI 7,175 25,534 13,185 24,255 11.728 Other tradlng actlvltles 18.640 18.640 16,432 Investments 20,931 20.931 16.709 Tothl Income 1.086.318 157..169 1.24.3,687 1,172,693 Expendlture on: Ralslng funds 1.39,958 139,958 137.776 Charltable aeilvltles: Subjeci LLader5hip Progrumme Subjecl Enrichmcnl Resideniials Primary Hubs Leadership Residenlials and Programmes New Teachcr Subject Days Conlinuing Professional Development Website and CRM 171.222 283.576 144,031 164,539 196.921 2.16.849 43,047 202,472 28.3.576 240.081 164.539 216,721 247,118 43,047 20.1.956 292,237 168,352 157.916 220,457 238,692 46.089 96,050 19.8(M) 10,269 Total Cos¢ of ChArltable A¢tlvltles 1.240.185 157,369 1,397,554 ,327.699 Tothl Expendlture 1,380,143 157,369 1,537,512 1,465.475 Net Income l (expendlture) before other recognlsed gains I (losses) and transfers Nei gains on investmen15 Transfer between funds {293.825) 29,555 145,022 {29.3,825) 503,057 (292,782) 158.664 473.502 (145.022) Net Income l (expenditure) for the year (119,2481 328,480 209.232 (134.118) Total funds al l October 2023 857.676 3.323,395 4.181,071 4,315.189 Totsi funds at JO September 2024 738.428 3.651.875 4,390.303 4,181.071 The Consolidated Siaiemenl of Financial Activities includes all gains and losses recognised in the year. All income and expendi(ure derive from conlinuing aciivilies. Details of comparative figures by fund are included in note 15. The notes to ihe financial sialemenls forni part of Ihese accounts. 17
THE PROFESSIONAL TEACHING INSTITUTE Company number: 05910443 CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2024 2024 2024 2023 2023 Note Fixed assets Tangible fixed assets Investmen15 46,( 3,693,705 3,651,875 3,681.981 3,739.712 Current assets Debiors Cash ai bank and in hand -167,-196 687,984 41.1,084 368,825 1,055.180 781,909 Creditors Amounls falling due within one year (.338,718) (322,441) Net current assets 716,662 459.468 Creditors Amounts falling due afiLr one year 10 (8.340) (18.109) Net ets 4,390,30.3 4,181,071 Funds ReslriclLd funds Endowmenl funds Unrestricted funds 1.651,875 738,428 3.-32.3,395 857,676 4,190..10.1 4,181,071 These accounis have been prepared in line with Ihe provisions applicable lo the small companies. regime. Approve eBoa of Trustees and aulhorised for issue on 3 February 2025. K'thi Chairman eith) Breslauer 18
THE PROFESSIONAL TEACHING INSTITUTE Company number: 05910443 CHARITY BALANCE SHEET AT 30 SEvfEMBER 2024 2024 2024 2023 2023 Note Fixed assets Tangible fixed assets Inveslments 30,106 1,651,876 46,007 1.693,7(K) 1.681,982 3.739,713 Current a&8ets D¢btOTS Cash at bank and in hand 292,698 632,569 145.085 242,473 925,267 587,558 Creditors Amounls falling due within one year (208,606) (128,091) Net current assets 716,661 459.467 Amounls falling due after one year 10 (8.340) (18,109) Net assets 4,190,303 4,181,071 Funds Restricted funds Endowment funds Unreslricted funds 1,651,875 738,428 1,123,195 857.676 4,190,303 4,181,071 These accounis have been repared in line with the provisions applicable lo the small companies, regime. Approve (he Board o rustees and authorised for issue on . 2025. K'ihiel (Keith) Bresla Chairman 19
THE PROFESSIONAL TEACHING INSTITUTE CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 30 SEIryEMBER 2024 Note 2024 2023 Cash llow from operating activities Net cash (used in)Iprovided by operating activilies (i) (246,659) {606,811) Cash flow from investing activities Invesiment income PurLhase of tangible fixed assets Acquisition of fixed asset inveslmenis through inveslmcni manager Proceeds from disposal of fixed assel invcsimenls through invv51menl manager 20,931 16,709 (1,235) (415.0(Ml) 544,887 131,629 Net eash (used in)Iprovided by investing activities 565,818 (267,897) Change in cash and cash equivalents -319,159 (874.710) Cash and eash equivalents at the start of the year 168,825 1,243,535 Cash and cash equivalents at the end of the year 687,984 368,825 (i) Reconciliation of net income to net cash flow from operating activities 2024 2023 Net expendilure (293,825) {292,782) Adjustments for: Deprecidlion charge Inveslmenl income Decreasel(increase) in debtors Increasel(decrease) in creditors 15,901 (20,931) 45,688 6,508 15,25.3 (16,709) (220,537) (92,0.18) Net cash (used inyprovided by operating aetivities (246,659) (606.813) 20
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINAIYCIAL STATEMENTS FOR THE YEAR ENDED 30 SEvfEMBER 2024 l. Accounting policies The chariiy is a company limited by guaranlee, Ihai was incorporated in England and Wales. Its registered office is 14-15 Lower Grosvenor Place. London. England, SW IW OEX. The registered company number is 05910443. and the registered charily number is 1116224. The principal accounting policies, which have been applied consisienily throughout the year, are as follows: a) Basis of preparation of the financial statements These financial statements are prcpared on a going concern basis, under Ihe historical cost convenlion, as modified by the revaluation of investmen15 being measured ai fair value ihrough income and expenditure wiihin the Consolidated Siatemenl of Financial Activities. The financial slalemenls have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireldnd (FRS 102). The ChaTilable Company is a public benefil company for the purposes of FRS 102 and therefore the charity also prepared ils financial slalemenls in accordance with the Siatemeni of Recommended Practice applicable to charilie5 preparing Iheir accounls in accordance with the Financial Reporting Siandard applicable in Ihc UK and Republic of Ireland (Charilie.s SORP 2015, second edition effective l January 2019). Ihe Companies Acl 26 and Ihe Chariiies Act 2011. The Truslees have assessed whether the use of ihe 80ing concern basis is appropriale and have considered possible events or conditions ihat might cast significanl doubi on Ihe abilily of the chariiable company lo conlinue as a going Loncern. The Truslees have madL thi5 assessment for a period of ai least one year from the dale of approval of Ihe financial slalemenls. In particular Ihe Trustees have considLred Ihe charitable company's forecasls and proj¢clions have laken account of pressure.s on income. After making enquiries Ihe TrusieLS have concluded Ihal there are no material unceriainiies and Ihcre is a reasonable expecl4ilion Ihat the chariiable company has adequate resources lo coniinue to opcraiional existence for Ihe foreseeable fulure. The chariliible company therefor¢ coniinues lo adopi Ihe going concern basis in preparing its financial siaiem¢nls. The financial sialvmenls are prepared in sierling, which is the functional curr¢ncy of the charity. Monetary amounts in these financial stalemLnts are roundcd to Ihc nearL'51 pound. b) Basis of consolidation The consolidated (group) financial slalemenls comprise thc charity and ils wholly owned subsidiary Pll Education Lirniled. The results of Ihe trading subsidiary company are presenied in the Consolidated Statemenl of Financial Aclivities by disclosing (he income and expendilure derived from ils non<haritable trading activities separaiely from those of the charily. A summary profit and loss accouni for ihe trading subsidiary is included in note 7. The charily has nol prepared ils own slalemeni of financial aclivilies, as permiiied under Ihe Companies Act 2006. The subsidiary company's assets and liabilities are consolidated in the Balance Sheei on a line-by-line basis. c) Fund accounting General funds are unrestricted funds which are available for use al Ihe di5cfLlion of Ihe Trusiees in furiherance of the general objectives of the chariiable company and which have nol been designated for other purposes. The endowment fund represents donations Ihal are lo used as an expendable endowment for teacher professional developrneni that is both capital and income and can be drawn down, to a maximum level of £100,OIK) per annum. Reslricled funds are subject to resiriciions on their expenditure imposed by the donor. 21
THE PROFESSIONAL TEACHING INSTITUTE NOTLS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEFTEMBER 2024 d) Income All incom¢ is included in the Stsiement of financtal a¢livities when the charily has eniiilement lo the lunds. receipi is probable. and the amounl can be measured wilh sufficient reliabilily. Where Ihe donor has specified that th¢ dunalions or gr<inls relate lo fulure periods or ihal certain preLondilions musi be fulfilled before use, amounis received arL' recognised in Ihe relevanl period or when precondilions have been mel. Income lax recoverable in relation to donations received under Gifi Aid or Deeds of Covenant is recognised ai the time of Ihe donalion. Income tax recoverable in relaiion to investment income is recognised ai Ihe lirne the invesiment income is receivable. e) Expenditure All expenditure is accounted for on an accruals basis and has been included under expense caiegories thai aggregate all costs for lillalln lo aciivilies. Cosls of raising funds comprise the expenditure on fundraising activities, including inveslmcnl management fees, as well as an apportionmenl of relevant slaff Costs. whereas cost of chariiable aclivilies include all directly aiiribulable cosis with regards 10 the Subjeci Leadership Programme, Subjeci Enrichmeni Residentials, Primary Hubs, Leadership Re5idenlials and Prograrnmes. New Teacher Subjccl Days. oiher Continuing Professional Developmentcourses and Ihe devclopmenl of the websile, as well as an apporiionmenl of olhLr cosls as delailed bclow. Suppon costs are Ihose Losls inLurred in support of expenditure on Ihc objects of Ihc Lharity <ind include projecl management and administration costs. Overheads and oiher supporl co8ts not direcily altribulable 10 a partlLular aciivily are apporlionLd over Ihe relcvant aciivities on Ihe ba8is of management estimatC8 of the amount iillribulable 10 Ihal activity in Ihe year, either by reference lo siaff tim¢ spent or ratio of the numb¢r of days of each lype of aLtivity, as approprialc. Irrecoverable VAT is includLd with the iiern of expendilure lo which li relates. Governance Costs Comprise Ihe expenditure on governance of the chariiy including audit fees, l¢gal advice for Trustees, cosls of Trustee meeting5 and an apportionment of relevanl slaff cosls to reflcci limL speni on governance-rvlaled matters. In accordance wilh FRS 102, these arc now included wiihin support costs above. Q Tangible fixed assets and deprecialion Tangible fixed assets cosling more Ihan £ I,O(Kl are capitalised. Tangible fixed assels are slaied al cost less depreciation. Depreciation is provided al rates calculated 10 wrile off the cosi or valuulion of fixed assels less Iheir esiimaled residual value. over their expected useful lives on the following basis: Office fillings and equipment Websiie and compuler equipmenl 20% on cost 33% on cosl g) Investments Investments are stated at markel value at the balance sheet datL'. The staiement of financial aLiivities includes the net gains and losses arising on revaluations and disposals throughoul the year. h) Pensio The charilable company does nol operale a pension scheme bul conlribules lo employees, personal pension arrangements. Conlributions are charged to th¢ Consolidated Slatelnenl of Financial Activilies on an accruals basis. i) Operating leases All paymenls under operating leases are charged io the slatemeni of financial aciivilies in Ihe year in which Ihey fall due. 22
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 j) Financial instruments The charity has elected to apply the provisions of Section I I 'Basic Financial Inslrumenls. lo all of ils financial insirumenls. Financial instruments are recognised in the charity's balance sheet when the chariiy becomes party lo ihe coniraciual provisions of the insirument. Financial asseis and liabilities are off5el, Wlth the net amounts presenied in Ihe rinancial statements, when there is a legally enforceable right lo sei off the recognised amounts and there is an inienlion to setile on a nei basis or io realise the assei and seitle Ihe liability simultaneously. Basic financial instrumenis are recognised at transaclion value and subsequently adjusied for impairment wilh Ihe exception of investment which are initially measured al Iransaction price and subsequently at fair value. k) Critical accounting tiMateS and areas of judgement In Ihe applicaiion of the charity's accounting policies, the Trusiees are required lo make judgemenis, estimaies and assumptions aboui ihe carrying amouni of assets and liabilities that are noi readily appareni from oiher sources. The estimate8 and associaied assumplions are based on historical experience and other factors thai are considered to be relevant. Actual results may differ from these esiimates, The eslimaies and underlying assumptions are revicwed on an ongoing basis. Revisions lo accouniing estimates are recognised in Ihe period in which thL eslimale is revised where the revision effects only thal period, or Ihe period of the revi.sion and fulure periods where the revision affecls boih currenl and future periods. The mosl significant eslimaies and assumpiions which affect the carrying amouni of assels and liabilities in the arcounts relate 10: The annual depreciation charge for fixed assets is sensitive to change in the esiimaled useful economic lives and residual value of a55elS. These are reasses8ed annually and amended were necessary io reflect currenl cireumslances. l) Cash and cash equivvllents Cash and cash equivalents include cash in hand, deposi15 held ul call wilh bank5 and other shori-term liquid invcstmenls with original maturilies of three monihs or less. 23
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEvfEMBER 2024 I Cost of Cbaritable Activities Legdership Resldentigls And PrO£rMMe$ New Teacher Subjeet D8ys Other Continuing Profe&sional Developmen¢ 2024 Subject Subject Leadership Enrichment Progrgmme Resldentials Website And CRM TOL91 Ftsnds 2024 Primary Hub5 Acilvltie5 direct costs 66,55.3 161.303 34.108 57,777 71,074 35,388 23,766 449,969 Supporl cosls Wa¥es and salaries Consuliancy General office Costs Governance osls 93.448 79,975 150,707 60.364 101,772 143,745 14.509 644.520 8.8.11 12.035 4.288 19,975 7.827 7.485 60.441 27,441 24,686 41.584 21.554 29,405 50.843 3.893 199.406 6.199 5,577 9,394 4.869 6.64. ,657 879 43,218 1.35,919 122,27.1 205,973 106.762 145.647 211,730 19.281 947,585 202.472 283.576 240.081 164,539 216.721 247.118 43,047 1.397.554 Leudershlp Resldential And ProgMmeS New TeAcher Subject Day$ Other Contlnulng Professional Development 2023 Subject Subject Leadertihlp Enrichment Progrmmmt Resldentials Website And CRM Total Funds 2023 Primary Hubs Actlvltles dlrect e05ts 65,450 156,865 79,167 30,215 24,740 424,418 Support ¢osts Wages and salaries Consultancy General office costs Governance costs 95.533 84,886 98.632 69.287 95,098 137,914 15.866 597.216 9.181 17.458 4,521 11,721 1,573 275 77,5é1) 27,601 26,977 27.190 24,281 28.156 49.672 4,254 188.131 6.191 6,051 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 24
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEiYfEMBER 2024 3. Cost of raising funds 2024 2023 Wages and salaries General office costs Direct fundraising and event-related cosis 94.578 91.193 24.037 22.546 20,005 139.958 117,776 4. Governance costs 2024 2023 Wages and salaries General office costs Auditor's remuneraiion - The Professional Teaching Institute (audit fees) PTI Education Limiled (audit fee5) The Professional Teaching Institute (non-audil fees) PTI Educalion LimitL.d (non-audil fees) 8,151 10.200 6,054 9.700 2,900 1.250 1,250 1,200 1,2(Ki S. Staff eosts 2024 2023 Wages and salaries Social security costs Contribulions to personal pension schemes 601,273 59.728 97,414 592,011 59,717 55,999 758.415 707,729 One employee received remuneralion between £90,0(J) and £IIK).(K)O during the year (2021: none), no employees received remuneration between £80.000 and £90,IKJO during Ihe year (2023.. Iwo) and two employee5 received remuneralion between £70,000 and £80,000 during the year (2023-. none). Pension conlributions of £55.151 (2023.. £16,241) were paid on behalf of Ihesc individua15. Toial lerminalion payments during the year was £ l.l)(K) (2023: £nil). The average number of people employed by the charily during the year were as follows: 2024 2023 Charitable activities Governance 14.1 14.6 14.4
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEFfEMBER 2024 Staff Costs (continued) No Trustee received remuneration or was reimbursed expenses from ihe charity during the currenl or preceding year. Key management Personnel: Key managemeni personnel comprise the Full-lime Co-Dirccior, Chief Operating Officer. Head of Fundraising, Senior Philanthropy and Parlnerships Manager, Senior Evenis Manager, Head of Core Programmes and Ihe Head of Educational Sir411egy. School Developmvnl and Membership. The lolal employmenl costs (including employers. national insurance and pension conlributions) for Ihese individuals wa5 £438,152 (2023: £474,408). 6. Tangible Fixed Assets- Charity and Consolidated Website and Computer Equipment Office Fittings and Equipment Total Cost As ai l Octob¢r 2023 Addiiions 160.(Y)4 AI 10 September 2024 160,094 Depreciation Ai l October 2021 Charge during Ihe year 40.785 15.254 114,087 15,901 647 AI 30 Sepiember 2024 56,0.19 129,988 Net Book V¥dlue At 30 ScpiembLr 2024 2,588 27,518 .30.106 AI 10 September 2023 42,772 46,(K17 7. Fixed Asset Investments Listed 2024 Listed 2023 Consolidated Market value brought forward Acquisilions at cosl Less disposal proceeds Gains on investments 1.693,705 3,251,670 415,000 (133,629) 158.664 (544,887) 503,057 Market Value Carried Forward 3,651.875 3,691,705 Hisloric cosi of lisled inveslmenls 3,121,018 26
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEvfEMBER 2024 Fixed Asset Investments {continued} Charity Th¢ Insliluie owns PTI Education Limited, a company incorporated in the Uniled Kingdom and registered in England, company nurnber 10353080 and holds 100% of the £ I share capithl. The principal activity of the Company is Ihe provision of training and supporl services for secondary and primary school leachers. The company then 'Gift Aids" ils taxable profil lo the Inslituie io provide resources 10 support the Inslilule's work. The net profil of the company at 10 September 2024 is £1,214 (2021.. £34,009) before the gift aid paymenl is made. Ils irading resulis, cxtracted from its audited accounts were as follows: 2024 2023 Turnover Cosl of sales 1,821,469 (426,203) 1,641,474 (199.678) Gross profil Administraiive expenses 1,195,266 (1,195,534) 1.241,796 (1,209,551) Operating profil Inierest (268) 1,502 32,245 1,764 Profil before taxation Tax on profil Profit for Ihe financial period 34.QM)9 Gifi Aid Paymeni (1,234) A summary of ils asseis is shown below: 2024 2023 Debtors Cash at bank and in hand Crediiors falling due within one year 180,715 55.415 (216,149) 158,111 126,352 (284,664) Net current assets 27
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEwfEMBER 2024 Debtors Consolidaled 2024 Consolidated 2023 Charity 2024 Charity 2023 Tr(Ide debtors Prepaymenls Accrued income VAT recoverable Iniercompany debtor Reni deposit 89,664 5,000 45,059 188,816 1_1,589 61,656 188.977 202.428 5,969 202.265 12,275 34.008 39,000 .39,0(J) -367,196 411,084 292,698 Creditors: Amounts falling due within one year Consolidated 2024 Consolidated 2023 Charity 2024 Charity 21123 Trade creditors Inter company Lredilor DefcrrLd income Oth¢r creditors Accruals 99,6(K) 9,770 50,0(K) 22,069 186,048 9,752 68.579 226,032 69,416 338.718 322,441 208,606 128.091 Consolidaled 2024 Consolidated 2023 Charity 2024 Charity 2023 D¢ferred income al l October 244,141 301,431 40,178 64,297 Deferred income - general Amount released 10 resiricled and unrestricted funds in the SOFA 176,278 201,963 (226,031) (261.253) {22.068) (24.119) Deferred income at 30 Sepiember 2024 194,188 244.141 18,110 40,178 28
THE PROFESSIONAL TEACHING INSTITUTE NOTLS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 10. Creditors: Amounts falling due after one year Consolidated 2024 Consolidated 2023 Charity 2024 Charity 2023 Deferred income 18.109 8,340 18,109 18.109 8,340 18,109 I l. Movement In funds Group Expendlture Atl October 2023 Income & Investment gains At30 Seplember 2024 Investment L055es Transfers Restricted Funds Subjecl Leadership Programme Primary Programme New Teacher Subject Days Continuing Professional Developmeni {31,250) (96.050) (19,8(K)) (10,269) 96,050 19,800 10,269 Tolal reslriciedfunds 157,369 (157,369) Endowment Funds Teacher Training Fund 3.323,395 473,502 (145,022) 3,651,875 Unrestricted General Funds 857.676 1,115,873 (1,380,143) 145,022 738,428 Tolal Fundx 4,181,071 1.746,744 (1,517,512) 4,390.101 Movement In funds- prlor year eomparative Expenditure & losses on foreign exchange Atl October 2022 Ineome & Investment galns At30 September 2023 Transfers Restricted Funds Subject Lcadership Programme New Teacher Subject Days Continuing Professional Development 107.250 11,850 10,269 (107,250) 111,850) 110.269) Total reslriciedfunds 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 Tothl Funds 4,315,189 1,331,357 (1,465,475) 4.181,071 29
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30SEPTEMBER 2024 I l. Movement in funds (continued) The Subjecl leadership programme reslricied fund relates 10 funding received specifically for Ihe Subject Leadership Programme activities. The Subject enrichment residentials reslricled fund relates lo funding received specially for the 2024 subject enrichment resideniials. The Primary Hubs reslricled lund relates lo funding received specifically for primary leadership support. No further donations io Ihe Teacher Training Fund wcre expected or received during the ycar under review. The fund is an expendable endowment fund Ihai is both capiial and income, and Ihe maximum drawdown per annum is 4% of Ihe value of the fund on 31" December of (he financial yLar in question. On 31" December 2023. Ihe fund was valued al £1,625,550. rnaking £145,022 availablL, which has been drawn down. Togeiher with incomc, managemenl charges and gains on invesimenls, resulied in endowmeni funds incrcasing 9.9% 10 £1,652k (2023: £3,121k). 11 Analysis of nel a55ets between fund5 Fixed assets Total 2024 Investments Debtors Bank Creditors Unresiricied funds ReslriciLd funds Endowment funds 367,396 687,984 (347,058) 738,428 3.651,875 3,651,875 3,651,875 167,196 687.984 (747,058) 4,190,301 Fixed Total 2023 Investments Debtors Bank Creditors Unreslricled funds Resiricted funds Endowment funds 46,007 370.310 413,084 168,825 (340,550) 857,676 1,323.195 3,123.395 46.c7 3,693.705 413,084 368,825 (340,550) 4,181,071 13. Transactions involving Trustees and related parties During Ihe year. Iwo trustees of The Professional Teaching Insiilule and a director of Education Lid, made donations 10 the Institute toialing £108,074 (2023: £107,300). 14. Operating lease commitments At 30 September 2024, the charily had lolal commitments under non-cancellable leases for buildings as follows: 2024 2023 Payable in les5 Ihan one year Payable wiihin two lo five years 65.0(K) 47,904 65,(K)O 112,904 112,904 177. 30
THE PROFESSIONAL TEACHING INSTITUTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 15. Comp4ratiYe Consolidated SOFA Unrestrlcted Funds 2023 Re5tric¢ed Funds 2023 Endowment Funds 2023 Tothl Funds 2023 Note Income 4nd endowments from: Grgnts and donallons 630,142 129,369 759,511 Charitable activllles: Secondary Affilialion Fees Primary Hubs Leadership Residenlials and Programmcs New Teacher Subject Days Subjc¢l Enrichment Residenlials Oiher Coniinuin8 Professional Development 267.892 42,OC(J 7,175 25,534 13,185 24,255 267,892 42.(MX) 7.175 13,185 24,255 Other trading ¥etlvl¢les 16,4.12 Investments 16,709 16.709 Total Incom¢ 129,369 1,172,693 Expenditure on.. Ralslng fund5 137,776 137.776 Charftoble actlvltles: Subjecl Lcadership Pro8ramme Subject Enrichment Residenlials Primary Hubs Leadership Re5ideniials and Programmc5 New Tcacher Subjeci Day5 Conlinuing Professional Developmcnl Website and CRM 96,706 292.237 168.352 157.916 208.607 228,423 46,089 107,250 203.956 292.237 168,352 157.916 220,457 238,692 46.089 11,850 10,269 Total Cost of Charltsble Actlvlties 1,198,330 129.369 1,327.699 Total Expenditure 1,336,106 129,369 1,465,475 Net In¢ome l (expendlture) before other recognlsed g4lns l (losses) 4nd transfers Net gain l (loss) on invesimenls Trdnsfer between funds (292,782) 6.809 286.136 (292,782) 158,664 151,855 (286,136) Net income l (expendlture) for the year 163 {134,281) (134,118) Total funds at l October 2022 857,513 3.457.676 4.315.189 Tot*1 funds 4t 30 September 2023 857.676 3,323,395 4,181,071 31