2021-06-30-accounts - International Baccalaureate Organization (UK) Limited

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				Page
Reference	and Administrative		Details ofthe Charity, its Trustees and Advisers
Trustees'	Report			2-8
Trustees'	Responsibilities Statement
Independent Auditor's		Report	on the Financial Statements	10 - 13
Statement	ofFinancial	Activities		14
Balance Sheet				15
Statement	ofCash Flows
Notes to the Financial		Statements		17-34

Trustees			Dr Datla Siva Kumari	Dr Datla Siva Kumari	Dr Datla Siva Kumari	(resigned	(resigned	31 March 2021)
			Sian Elizabeth	Thornhill			(resigned	1 July 2020)
			Paula Margaret	Wilcock			(resigned 3October 2020)
			David Ralph Homer
			William Henry	Oldreive
			Olli-Pekka Heinonen			(appointed		1 May 2021)
Company	registered
number			06553433
Charity registered
number			1126291
Registered		office	Peterson House
			Malthouse Avenue
			Cardiff Gate
			Cardiff
			CF23 SGL
Independent		auditor	Mazars LLP
			Chartered Accountants
			90Victoria Street
			Bristol
			BS16DP
Bankers			HSBC Bank pic
			Cardiff
			CF10 1LF
Solicitors			Withers Bergman		LLP
			16Old Bailey
			London
			EC4M 7EG

				Unrestricted	Total	Total
				funds	funds	funds
				2021	2021	2020
			Note	$	$	$
Income from:
Charitable activities			4	23,114,026	23,114,026	20,888,040
Other income			5			26,800
Total income				23,114,026	23,114,026	20,914,840
Expenditure on:
Charitable activities				21,992,353	21,992,353	20,831,364
Other expenditure				43,302	43,302	43,815
Total expenditure				22,035,655	22,035,655	20,875,179
Net income before	net gains/(losses)	on
investments				1,078,371	1,078,371	39,661
Net gains/(losses)	on investments			322,616	322,616	(264,271)
Net movement in funds				1,400,987	1,400,987	(224,610)
Reconciliation offunds:
Total funds brought	forward			24,669,288	24,669,288	24,893,898
Net movement in funds				1,400,987	1,400,987	(224,610)
Total funds carried	forward			26,070,275	26,070,275	24,669,288

						2021		2020
				Note		$		$
Fixed assets
Intangible assets				13				1,640
Tangible assets				14		4,675,854		6,019,938
Investments				15				1,613
						4,675,854		6,023,191
Current assets
Debtors				16	775,916		20,300,117
Cash at bank and	in	hand			62,246,923		2,340,976
					63,022,839		22,641,093
Creditors; amounts	falling		due within one
year				17	(38,821,530)		(1,208,917)
Net current assets						24,201,309		21,432,176
Total assets less current			liabilities			28,877,163		27,455,367
Creditors: amounts	falling		due after more
than one year				18		(1,651,858)		(1,898,250)
Provisions for liabilities						(1,1 55,030)		(887,829)
Net assets excluding		pension asset				26,070,275		24,669,288
Total net assets						26,070,275		24,669,288
Charity funds
Restricted funds				21
Unrestricted funds				21		26,070,275		24,669,288
Total funds						26,070,275		24,669,288

				2021	2020
				$	$
Cash flows from operating	activities
Net cash used in operating	activities			60,599,816	829,700
Cash flows from investing	activities
Purchase of intangible assets				(46)
Purchase oftangible fixed	assets			(695,436)	(536,569)
Disposal of investments				1,613
Net cash used in investing	activities			(693,869)	(536,569)
Cash flows from financing	activities
Net cash provided by financing activities
Change in cash and cash equivalents		in the year		59,905,947	293,131
Cash and cash equivalents	at the beginning		ofthe year	2,340,976	2,047,845
Cash and cash equivalents	at the end	ofthe year		62,246,923	2,340,976
The notes on pages 17to 34 form part ofthese financial statements

	Unrestricted	Total
	funds	funds
	2021	2021
	$	$
Assessment	23,114,026	23,114,026
	Unrestricted	Total
	funds	funds
	2020	2020
	$	$
Assessment	20,888,040	20,888,040

						Total
						funds
						2021
						$
	Intercompany loan		interest
					Unrestricted	Total
					funds	funds
					2020	2020
					$	$
	Intercompany loan		interest		26,800	26,800
6.	Charitable Activities
					Total	Total
					2021	2020
					$	$
	Office communications,			IT &other supplies	1,387,551	1,364,739
	Realised exchange		losses/(gains)		32,742	41,374
	Loss on disposal of		fixed	assets		40
	Other				562,927	667,689
	Other staff	costs			126,919	248,729
	Temporary	staff/contractors				142,234
	Wages and	salaries			15,144,785	12,617,951
	Depreciation				714,059	772,109
	Support costs (note		7)		3,970,543	4,930,718
	Governance	costs (note		8)	52 827	45 781
	Total				21,992,353	70,831,364

7.	Support	cos	ts
				2021	2020
				$	$
	Management			603,236	469,229
	Finance			181,026	164,028
	Human	Resources		124,557	186,784
	information		Technology	1,233,637	1,122,806
	Facilities			1,828,087	2,987,871
				3,970,543	4,930,718
8.	Governance		costs
				2021	2020
				$	$
	Auditors'	remuneration		52,827	45,781
				52,827	45,781
9.	Other expenditure
				Unrestricted	Total
				funds	funds
				2021	2021
				$	$
	Bank charges and interest			43,302	43,302
				Unrestricted	Total
				funds	funds
				2020	2020
				$	$
	Bank charges and interest			43,815	43,815

10.	Auditor's remuneration	Auditor's remuneration
								2021	2020
								$	$
	Fees payable	to the Charity's		auditor		and its associates	for the audit ofthe
	Charity's annual accounts							28,670	29,703
	Fees payable	to the Charity's		auditor		and its associates	in respect of:
	The auditing	ofaccounts of		associates ofthe Charity				24,157	24,107
	All assurance	services	not included			above		6,895	6,895
11.	Staff costs
								2021	2020
								$	$
	Wages and salaries							14,009,323	12,007,508
	Social security costs							1,345,975	1,200,215
	Contribution	to defined	contribution		pension schemes			1,016,533	934,108
								16,371,831	14,141,831

2021	2020
No.	No.
283	258

2021	2020
No.	No.

Intangible assets
	Computer
	software
	$
Cost
At 1 July 2020	139,780
Additions	46
Disposals	(110,271)
At 30June 2021	29,555
Amortisation
At 1 July 2020	138,140
Charge for the year	1,686
On disposals	(110,271)
At 30June 2021	29,555
Net book value
At 30June 2021
At 30June 2020	1,640

	Long-term
	leasehold	Fixtures and
	property	fittings	Total
	$	$	$
Cost or valuation
At1 July2020	13,363,020	5,737,924	19,100,944
Additions		695,436	695,436
Disposals		(1,658,565)	(1,658,565)
At 30June 2021	13,363,020	4,774,795	18,137,815
Depreciation
At 1 July 2020	8,167,526	4,913,480	13,081,006
Charge for the year	1,417,028	485,229	1,902,257
On disposals		(1,521,302)	(1,521,302)
At 30June 2021	9,584,554	3,877,407	13,461,961
Net book value
At 30June 2021	3,778,466	897,388	4,675,854
At 30June 2020	5,195,494	824,444	6,019,938

	Investments
	in
	subsidiary
	companies
	$
At 1 July 2020	1,613
Disposals	(1,613)
At 30June 2021
Net book value
At 30June 2021
At 30June 2020	1,613

			2021	2020
			$	$
Due within	one year
Amounts	owed by group undertakings			19,933,688
Other debtors			48,552	4,672
Prepayments		and accrued income	727,364	361,757
			775,916	20,300,117

									2021	2020
									$	$
Trade creditors									350,636	33,234
Amounts		owed		to	group undertakings				37,299,929	114,656
Other taxation				and	social security				7,659	136,840
Accruals		and deferred				income			1,163,306	924,187
									38,821,530	1,208,917
reditors:		Amounts			falling due after more			than one year
									2021	2020
									$	$
Amounts		owed		to group undertakings					1,215,291	1,199,743
Other creditors									436,567	698,507
									1,651,858	1,898,250
he aggregate			amount			of liabilities	payable	or repayable	wholly or in part more than five	years after the
porting	date is:
									2021	2020
									$	$
Repayable		by	instalments						643,528	706,678
									643,528	706,678

	Provision
At 1 July 2020	887,829
Additions	267,201
	1,155,030

2021	2020
$	$

Statement	o	ffunds - curr	ent year
							Balance at
			Balance at 1			Gains/	30 June
			July 2020	Income	Expenditure	(Losses)	2021
			$	$	$	$	$
Unrestricted		funds
General	Fund		24,669,288	23,114,026	(22,035,655)	322,616	26,070,275

							Balance at
			Balance at			Gains/	30June
			1 July 2019	Income	Expenditure	(Losses)	2020
			$	$	$	$	$
Unrestricted		funds
General	Fund		24,893,898	20,914,840	(20,875,179)	(264,271)	24,669,288

				Unrestricted	Total
				funds	funds
				2021	2021
				$	$
Tangible	fixed assets			4,675,854	4,675,854
Current assets				63,022,839	63,022,839
Creditors	due within one year			(39,258,097)	(39,258,097)
Creditors	due in more than one year			(1,215,291)	(1,215,291)
Provisions	for liabilities	and charges		(1,155,030)	(1,155,030)
				26,070,275	26,070,275
nalysis of net assets between			funds - prior period
				Unrestricted	Total
				funds	funds
				2020	2020
				$	$
Tangible	fixed assets			6,019,938	6,019,938
Intangible	fixed assets			1,640	1,640
Fixed asset investments				1,613	1,613
Current assets				22,641,093	22,641,093
Creditors	due within one year			(1,208,917)	(1,208,917)
Creditors	due in more than one year			(1,898,250)	(1,898,250)
Provisions	for liabilities	and charges		(887,829)	(887,829)
				24,669,288	24,669,288

											2021	2020
											$	$
	Net income/expenditure		for	the	year	(as	per	Statement	of	Financial
	Activities)										1,400,987	(224,610)
	Adjustments for:
	Depreciation charges										1,902,257	1,819,428
	Amortisation charges										1,686	11,568
	Loss on the sale offixed		assets								137,263	60
	Decrease/(increase)	in debtors									19,524,201	(441,072)
	Increase/(decrease)	in creditors									37,366,221	(453,416)
	Increase in provisions										267,201	117,742
	Net cash provided by operating				activities						60,599,816	829,700
24.	Analysis ofcash and	cash equivalents
											2021	2020
											$	$
	Cash in hand										62,246,923	2,340,976
	Total cash and cash equivalents										62,246,923	2,340,976
25.	Analysis ofchanges	in net debt
										At1 July		At 30June
										2020	Cash flows	2021
											$	$
	Cash at bank and in	hand							2,340,976		59,905,947	62,246,923
26.	Contingent liabilities

Operating lease com	Operating lease com	Operating lease com	mitments
At 30 June 2021 the			Charity	had	commitments	to make	future	minimum	lease payments	under non-
cancellable	operating		leases as follows:
									2021	2020
									$	$
Land and	buildings		amounts	payable:
Within 1	year								1,042,630	927,974
Between	1 and	5 years							1,737,717	2,474,597
									2,780,347	3,402,571
									2021	2020
									$	$
Other amounts		payable:
Within 1	year								482,331	617,480
Between	1 and	5 years							200,646	633,613
									682,977	1,251,093