THE COUNCIL OF THE INNS OF COURT (Conipany Limlted by Guorontee) Rfi PORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Compaiiy Number,. 08804708 Charlty Number., 1155640
THE COUNCILOFTHE INNS OF COURT REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 Stat115 The organisation is a charitable coimpany liinit¢d by guarantee, incory)or&ted 6 DeceinEer 2013 and registered a charity on 5 February 2014. The charitable company coinmenced operations on l July 2014. Governing DOcuent The charity is contt'olled ty its memorandum and ai'licles of assrtiation, and constitutes a limited coinpany, limited by guarantee, as defined by the Coinpanies Act 2006. Co]llpally Number 08804708 Charity Number 1155640 Registered Office 9 Grny's Inn Square London WCIR5JD Trustees All Ti'ustee5 served throughout the year and thereafter except where stated.. Janet Bignell KC Stephen Caitwi'ight OBE Gregory Dorey CVO Chantal Aiinee Doerries KC Judge Jill Frances Christophei. Ghika CBB Rt Hon Loi'd Justice Nicholas Green Anne Sharp CBE Marion Sinith KC Royal Bank of Scotland 5 - 10 Great Tower Street Londoii EC.IP 3HX Banker5 Haysmac LLP l O Queen Street Pla¢e London EC4R IAG Auditors
THE COUNCIL OF THE INNS OF COURT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Thistees are pleased to present their annual Trustees, Report together with the fmancial statements for the yeai. ended J l Deceinber 2024 which ar¢ also prepared to Ine¢t the IEquir¢Jnents of a directors, report and accounts for Companies Act pui'poses. The financial stateinent5 coinply with the Charities Act 201 I, the Companies Act 2006, thc Mcimorandum and Articles of Association and Accounting and Reporting by Charities- the Stateinent of Recoinmended Pra¢ti¢e appli¢able to charities preparing their accounts in accordance with the Stateinent of Recommended Practice for Chorities (SORP 2015} (Second Edition, effective l January 2019) and, the Financial RepL)rting Standard applicable in the UK gnd Republic of Ireland (FRS 102). CONSTITUTION Th¢ Couneil of the Inns ofcourt ("COIC") is set up undei. its Meinorandum and ArliLles of Association, registered as a Company Liinited by Guarant¢e, registration number 08804708 and is registered with ihe Charity Coinmission under th¢ Charities Act 2011, registration number 1155640. COIC wos in¢orporated as a charitable coinpany liinited by guarantee on 6 December 2014. For the purposes of the Coinp8nie$ A¢t 2006 the Board of Trustees is iegarded a5 the Board of Directr>rs of the company. The liability of ihe Trustees, being members of the charitable compAny, is limited. Every meinber of the charitable ¢oinpany und¢rtgk¢s to Lunti'ibute tts the as5els of the ch&i'itable coinpany in the event of the same bellig wound up whilst he is a Inemb¢r, or within vne year after he ¢eases to be a inember, for the payinent of the debts and liabilities of the charitable coinpaiiy contrycl¢d before he ceased to be a Ineimber and for such eosts, charges and expenses of the winding UP> and for ihe adjustin¢nt of ihe rights of the contributions among thernselves, such amounts as may be required, not exceeding on¢ pouTr]d. OBJECTIVES AND AcfIviTILS The objects of the council 4r¢: To advance education in the adtnini5tration and practice of the law alld relat¢d dis¢iplithes. including by providitjg courses, training and educational materials, and by promoting? undertakin& and publishing r¢$ear¢h. To pi'omote the sound adinsni5tration of the12w, including by.. promoting high standard5 of adv8¢Y to support the i'ule of law. and overseeillg and eiiforcing professional st&nd&rds of conduct in relation to the piDvision of advocacy and I'elated legal seivices, in each case, anywhere in the world and for the public benefit. StrAteEle Aims The stsal¢gi¢ aims in pui'suit of ihe above charEtablE objects &re to.. l. Provide ex¢¢llent Bar training foi. the selected ICCA cohort of Bai. sthdents. 2. Provide leadETship and guidance in advocacy tt'aining; Provide a forum in which the Inns and otliei. advocacy trainers can Ineet and share inforination oj) advocacy. 4. Research & disseininate materials and best practice in advocacy and advocacy training,. Organise educational training and other events. 6. Comniuni¢ate with all llilerested persons and organisations i'egarding adyocacy standards and tt'ainiiig., 7. Liaise and CDopei'ate with legal jui'isdi¢tiorts outsid¢ of England and Wales in the provision of advocacy Iraining and training of trdiners. Pi'ovide & Bay tribunal heal'ings seryice that is Efficietkt, effective, timelyj professional and transparent and one that uses up to date practices and approaches. 9. Facilitate high quality de¢i5ion-Inaking in the public it)terest' 10. PIDvide independence and clear separation of the adjudicatoiy fijnction from the prosecuting role of the Bar Standards Board.
THE COUNCIL OF THE INNS OF COURT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER2024 Objectives In addition to puisuing its ¢haTLtable objectives and strategic aiins. a nuinber of specifie objectives were s¢É for 2024, of which the most signifi¢at]t wtte.. IntroduciÉJg a shared cost5 model for the Tribunal Service, with funding provided by the Bar Standards Board. Operating a high quality and fjt for purpose Tribunal Service by: Delivering hearings in accoi'dan¢e wilh or exceeding the agJEed KPIS Working with the BSB to improve ihe ¢ntirety of theii. enfoireiment proeeedings, and especially th¢ time it takes for cases to be brought to # ¢onclusion 3. Bringing BTAS up to date by investigating case InanagT¢tntnl and document management systeins, ensuring it opeTat¢s a 'rit lo be forgotten, coinpliant website, and that it caA accominodate high stgndard itt-person. hybrid and fully remote liearings. Reviewing the Inns, Conduct Cominittee Rules and processes. ContinuEng to support and help demonstrate the efforts of the Inns of Court in providing high quality training by.. Co-ordinating the External Obseiver prograTnnie for Qualifying Sessions Faeililating the development and exchange of good practice between the Inn's Directors of Education 6. Supporting the work of the Point of Call Working (iroup, ascertaining and coinmunicatin¥ the views of the Inns Supporting the Inns and liaising with the BSB in the deYelopm¢nt of future pupillage ass¢55ments and related training pi'ogr3inine&, including Nggotiali017 Skills andAdvocacySkills Continue effoits to move Ihe Bar Coutse to break-even as soon as possible by.. Increasing student nuinbers by effective outreach inarketing & raising awarcne55 of the success and quality of the course, including raising the pmfile of the ICCA aOngSt school and univa'sily students. This will be achieved by sponsoring m(K)ts & supporting the Bar Coiincil's Bai. Placement Week, hosting Open Days, Inonitoring website trttffic, developing links with Chainbers and provider5 of work-based learning and irnpiDving communhcations intei'nally and ext¢rnally,' Introducing a charge for students who choose to access the Part I mkterials for more thon 12 thonths without entei'ing or passing the BSB exams from Septeiiibei. 2024. Promoting and ¢xtendin¥ the IC.C.A BuTsary Scheme working in partnership with the SBAS to in¢rease the fund and inake available mDrc buiBaries to deserving candidates; Exploring the Iiins, appetite or altei'native sources of funding to build an ICCA Scholarship filnd to reduce attrition between acceptance ond enrolment. Regular improveinent alld irniediation of materio1$ and maintain the quality of teaching on the Bar Course, which will lead to continued sector-leading assessinent aiid pupillage rates. 10. Ensui'ing the high-quality Bar Course is ac¢es5ibl¢ to cominitted. InotlVOted and dilKgent students i'egaidl¢ss gf their baCkgrOrtd, by promoting diversity and equality of opportunity and widening participation. This will achÉ¢v¢d by the iinpleinentation of the Fair recruitment Policy, blind sifting of candidates and cotktinual data analysis and reporting. I l. c.ontinuing to update and Inake ayailable Pupillage Ethi materials to all pupils thei'eby generating an income for the ICC.A and assistllig pupils to succeed in the BSB ass¢ssTneTrt. 12. Developing 2nd promoting the capability to host and Inaintsin content for the SBAS and Circuits on the ICCA'S VLE on a fee-pg)Jing basis 13. Working wilh and supporting the Inn5 of Court. to pi'ovide leadership and guidance in high qualiry advacY including by.. Rolling out the AO¢aCy0r Childi'en in Covfli¢l wilh ihe Law (ACCL) course £thd encouraging its a¢¢redi(aliun by the Regulator to enable practilioTrer5 to deinonstrate competeiice. b. Continuing to support and develop th¢ Advocacy ihe Ytrlnei'oblé.. Crinie and Fainily prograinines by trainin¥ Facilitators for the FAmily Law Ila¥ Association and ihe c.mwn Proseeution Service. 14. Supporting the cvntinued linprov¢nI of advocacy trdining in jurisdictions out8id¢ of the UK by seeking external funding and explorinbj methods of providing high quality and seed corn training to d&%erving orgat)isations. 15. Capiralising on the ICCA'S developiTJent of expertise in e-Le81'ning by offering the Inn5 ppd Circuits assistance in developing* enhanGin8 and hosting online tJ2ining inateria15 10 5UPPOrt their delivery of high-quality training, and doing so on an at-cost basis.
THE COUNCIL OFTHE INNS OFCOVRT TRUSTEES, REI PORT FOR THE YEAR ENDED 31 DECEMBER 2024 Objective5 (Continued) 16. In Consultation with the Governing Body, the Inn5 and Circuits; identifying, researching and scoping possible future workstieains that are necessary for the Bar to irmain cui'rent and inforjned in pi'actice including Trauina-informed lawyei'ing, tackling rape Jnyihs, and Artificial Intelligence (bringing digital literacy lo the foie}, Pupil Supervisor training and tizining in appellate advocacy or written advocacy foi. the CiviVFainily Bar. 17. Assisting th¢ Circuits to Inanage the developinent of new Tegulatory requiirments in the delivery of Pupillage Advocacy and New Practitioner Training by enabling thein to acce5S the ICCA'S VLE and by offering new training materials to deliver to Pupils and New Practitioners. Public Benefit Jn deterinining strategy and activity the Trustees had regard to the ChaTity ComTlli55ion's guidance on public benefit. COIC exists to.. Advance education in the adtninistration and practice of the law, principally through the activities of the Iruhs of Courl Colle e of Advocac by providing leadership, guidance and co-ordination in relation to the pttrsuit of academic and professional excellence for the bar. Enforce professional standard5 of conduct amongst barristers through the activities of the B r Tri Ad'udicaiion Service for exainple.. i. Appointing and administering Disciplinary Tribunals for barristers facing Charges of profe55ional misconduct. Tribunals are open to the public, and the charges and findings of the TrIbUnaS are published in the public domain., Appointing and administering InteTitn Suspension Panels and Fitness to Practice Panels for knTristers' iii. Appointing and adininistering Inns, Conduct Cominittee Heal'ings to consider admission and disciplinary cases brought against individuals aspiring to be called to the bar of England and Wales, and so deteiJnin¢ whether they are fit and proper to be practising barristers; and doing so at no cost to the public or th05¢ involved in the hearing process. nal an ACHIEVEMENTS AND PERFORMANCE A shared costs model was implemented as part of a new Service Agreeinent that, from l April 2024, sees the Bar Standai'ds Board contribute 50 % of BTAS's operating costs. We experienced very high levels of Ti'ibunal activity throughout 2024, both in terms of the nu]nber and coinplexity of cases handled, delivering a high quality service thrOuOut. We additionally engaged productively with the BSB, supporting theii. priority of improving the entirety of the Bar's enforceinent proceedings. We investigated improveinents to its facilities and systeins. that will be impleinented in tiine to support and enable the tiinelines arising froin the BSB review into enforcement proceedings. We continue to work with the BSB to review and iinproye the Inns, Conduct Coinmittee Rules and processes. Working closely with the Inns, Directors of Education we continued to 5ucce55fully coordinate the External Obsei'ver prograinme for Qualifying Se55ions, including the changeover to- and induction of - new EO'S. We continued to assist the Inns of Court to det¢rinine, in the current environment, what the inost appropriate tllning is for individuals to be Called to the Bar. We have supported the Inns and Circuits and sought iterative accreditation troim the BSB to develop a Pupillage Negotiation Course which will be piloted in 2026 and rolled out thereafter.
THE COUNCIL OF THE INNS OF COURT TRUSTKES, REPORT FOR THE YEAR ENDEID31 DECEMBER 2024 Aehlevement5 offid Performance (Continlled) We have Continued efforts to move the BaT Cuur&e to bieak-evetj as soon as possible by- In¢Yeasing studenl nuinbers by effective outreach and tnarketing & i'aising awareness of the succ&%s and quality of the course, including raising the profile of the ICCA amongst school and university studcnts. This was achieved by sponsoring moots & 5UPPOrting the Bai. Coiincil's Bai. Pla¢einent Week, hosiing Open Days, monitoring website traffic, developing links with Chainbei's and providers of work-based learning and improving comwnunications intei'nally externally. The outcoine was another increase in 2025 of appli¢ations for 2025n6 entry; We aim to introduce a charge for sthdents who choose to access the Part I materials foi. Inore than 12 months without entering or passing tlie BSB exains from Sept¢inbei' 2025,. W¢ have prornoted the ICCA Bursary Scheme working in partAci%hip with the SBA5 and we aim to increase the fulld and inake avaslable more buisaries to deservirg candidates iesulting in a number of socio- economiLdlly and disadvantaged studeiits accessing funding loi. the Bar Course,. We continue tD explore the Inn5, appetile or alternative sources of funding to build an ICCA Scholarship fund to I'edu¢e attrition between acceptance and enrolment, which inay be possible once the ICCA Mrns a pi'ofit on 9tudent fees. We have imPiDved and reinediated Inaterials aT)d maintained the quality of teaching on the Bar Course, which has led to continued 5eCtor-leadinB 25gessinenl result5 and pupillage rate5. The BSB centrali5ed assessment results for Deceinbei. 2025 were the highest they have been since 2021. 10. We have ensured that the high-quality Bar Course is acces5sble to cominitted, motivated and diligent students regaydless of their background, by pioinoting diversity and equality of opportunity and widening partlcipation. This was achieved by tl)¢ itnplemenlation of the Fair recruitsn¢nt Policy, bliiid sifting of candidales and continual data analysis and reporting. We hAve improved all areas of data reporting by the appoilltment tsf a new Data and Planning Manager. I l. We have continued lo update and make available Pupillage Ethics matei'ials to all pupi15 thereby generatitig an incoime for ihe ICCA and assisting pupils to succeed the BSB assessment. 12. We have developed and promoted the capability of the ICCA to host and maintain content for the SBAS and Circttits on the ICCA'S VLE on a fee-payin¥ basis anif each of the Cii'cuits now has its own tenancy on oui. VLE. 13. We have worked with and supported the Inns of Court, lo provide leadership and guidance in high quality advo¢acy including by.. D¢livcring the Advocacy foi. Children I Conflict with the Law {ACCL) course and encouyaging its accieditation by the Regulator to enable praclitlDneis to demonstrate coinpelence; Continuing to support and develop the Advocacy and the Vulnerable: Criine and FaTnily programines by Inoving the web-based matei'ials to a VLE based prograirjjne with extended interactiyity. 14. We hav¢ supported the continued iinpi'ovem¢nt of advocacy b'aining in jurisdictioiis gulside of the UK by Seeking external funding and exploring Inethods of providing high quality and seed corn training to deserving organisalions. In particulor, we have Inade sigThificaJit progi'ess in Sierra Leone. We have also launched aiid f8cilitated a six- weekly foruits for all inteirsted international advocacy trainers to join tog¢iher to shale best practiee. The charity does not fundraise with Jneinbers of the public and have had no fundraising coinplainls in the year.
THE COUNCIL OFTHE INNS OF COURT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVAEW The total income for the year of £4,757,488 coinpi'ised grants of £1,351,376 from the Inns of Court. £3,295,688 of fee in¢oJne, a don&tion of £20,000 froin thc Coinmercial Bar Association as a r¢stricled fund to establisli a bui'sary 5cheine, as well as bank interest of £25,702. After deducting unrestricted expenditure of £4,710,844 the charity Inade a svrplus of £26,644 on niEStric*d funds. This was with the approval of the Trugtees. The Trustees regUl'1Y ass¢s5 Itjajor risks io which the charity is exw)sed, in partRcular oper8tional and finan¢ial risks, following the Charity Commission's guidan¢e. COIC has devised and put iTt place a detallcd Disastei. Recov¢ry and Business Continuity Plan. We confiiin that, for each idetltified risk, there are defined Inonitoring, control and vEeW Systems, with %pccific allo¢atioTr of responsibilitie5 in place. Key Risks include.. A failui'e to In¢et I"ecruitinent targets for th¢ ICCA Bar Couise. or to overestiillate actual nuinbers enrolling on the Course, will l¢ad to a dUctIon in fee incorne. This will iTnpact on cashflow and will requiie careful and activ¢ Inanagement to ensure the 0107ng viability of the cou13e. ThEs risk will be mitigated by using efficiency savings (for casliflow issues) and (to iiici'¢ase future 8tudcnt nutnbers) eValatIng and revis111&I the ICCA'S recruitment strategy. 2. Adverse finding5 about any aspect of the ICCA Bar Course by any of its regulatory or authorising bodies inay cause reputfttional dainage and affect the viability of the course. To be mitigated by ensui'ing the course (in d¢Sin, delivery and governance) L5 of the highest $tandai'd, and quantitative and qualitative data is constantly collected 8nd analysed to ensui'e this can be effectively Inonitored. 3. L05s of access to Tribunal suite or COIC Offfioes (due to flir or other cause). To be Iniligated by disaster recovery processes including working online to Continue to d¢liver leaching andlor Ti"ibunals when it is appropriate to do so; 4. Tribunals and ot]iei. hearings not dclivered in accordanee with the applicable i'egulations / processes leading to legal challcnge /costs against COIC. To be miti¥aledby Tribunal Panel Meinber & staff ti'aining, rules & standwd operating procedui'es, supported by Yegular appraisals. Insurance is in place to Ininimise financial i'isk tv Ihe charity. 5. As a sEnall organisation COIC is Inoye exposed th3n lar8Er ones to significant levels of staff turnover- the iinpaci of even a small numbei. of staff leaving 5iinultaneously could ijnpact on our ability to delivei.. To be Initigated as above by SOPS, èppraisal, traiTring and flexibility of staff (with eross-skilling acro55 key fvn¢tioiis) and, if necessary, deferral of non-essenlial work. While COIC is aijnost entirely dependent on tlie four Inns of Court for all non-student fee income, the probability offvnds not being foith¢oniing is extTeinely low. The Inn5 have I'epcatcdly confirmed their coininitment to COIC, and aniiual confirination is provided Ihat they will continue to piDvide support gd funding. Additsonttlly, COIC has not laken on liabilitsel beyond this, and in 2019 the Inns agreed a 'Deed of Undertaking, that Inade their cominitinent to fEnancially suppoi't the ICCA Bai. Course legally enfoiceable. In 2024 COIC ha5 Started imposing a small fee for access to 50]ne of its online CPD Inateria15 to diversify its sources of incoime, and this led to £62.196 of income i'eceived in 2024. The continued development of th¢ ICCA. and in particular the transition to a financially self-staining Barcgurse, i5 a major undertaking. This will require contknued careful platjning of staff levels, resources and finance supported by careful Inanagacnl by staff and oversight I govei"nance by the Ti'ustees and Boai'd of Goverllors.
THE COUNCJLOFTHE INNS OF COURT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 RFSERVES POLICY Tlie Board of Trustees have re501ved that the 5uins equivalent to two month's in¢olt be held in Irserve, which for 2024 alnounted to £792,915. The Ti'ustees have Irsolved thal. with thetr approval, the Charsly may use up to half of it5 resei'ves to Enanage any shoi't-term cash flow needs, such those arising froin inevitable fluctuation5 in student numbei's (and associated fee incoinel, but that the full two Inoiith's sum Inust be re-established witliin a pei'iod of 12 months. The reserves are held to meet any additional costs incurred should COIC cease trading In setting this level of reserve, the Board of Trustees noled the ndelkIng given by each of the four Inns of Court in their annual grant lett¢r'. "The Itjn undertakes to give the Chayity thiee months, notice, or a fiirther grant equivalent to three month5, running costs of ihe Chai'ity, if the Inn decides not to Inake a wnt in future years or decides to 5ubslantially Yeduce the grant such that the Charity is not 3ble to meet its running costs" During ihis yeai. of ac¢ounl the actual level of fre¢ T¢5Erves ainounted to £798,888. whi¢h exceeds the target by £5.973. The Trustees are satisfied this is appL'oprEate. PLANS FOR FUTURE PERIODS A nuinber of allns and objectives have been set for 2024, of which the most 5111f1t&nt are.. Enhancement of the Tribunal Service's perforEnance by continu¢d engageinent with (2nd impleinentation of worksireams arising froinl the BSB'S review of the B&r's enforcem¢nl proceedings= Improving BTAS, processes and governance ovei'gight ¢0 deinon5tr8bly raise stpndards and tiine-lo- completion rates. b. EnsurEng BTAS provides a fit for puipose and m(Kiern tribunals servi¢¢ by bringing its systems. facilitiss and capabilitie5 fully up to dale, by iinplei)ienting case mana¥einenl and document Inanag¢ment systejns, a 'right to be forgotten'_ compliant website, and the abiliry to h05t high standard reinote and hybrid hearings}. Reviewing the Inns, Conduth Cominittee Rules and pi'ocesses. Recruiting and training to th¢ highest standard5 new legally qualified and lay m¢mbei's io serve ott the panels that CDnsider Tribunals, ICC and other heai'ing5. Continuing to suppori and help demonstrate the effort5 of the Inns of Court in providÉng high quality training by.. Co-oidinating lh¢ External Observer prtsgrainme for Qualifying 8e5sion$ FacilTrtating the developinent and exchaiige of good practEce between the Inn's Directors of Education 5. Supporting Ihe woi'k of tl)e Point of Call Working Group, aell81nlE]g and coirinuni¢atithg the vÈews (Trf the Inns 6. Suppoiling the Inns and circuits to Secure acciEditstion foi. a Pupillage Negotiation Course for all Pupils to aocess frotn 2026 via a Pilot, and thereaf(er three tileS a yeai. to ¢nablE Pupils to reach the i'egulatory-based 5tandai.d within pupillage. 7. Continuing to attract high levels of interest in the ICCA Bar Course with a view to rea¢hing a position whereby the Course is self-sustaining and not reliant uwn Inns, filnding. We will do su by= Maintaining or increasing student application numbei's by effective outreach and marketing & iaising awai'eness of the success and quality of the ¢ourse, including raising the profile of the ICCA amongst scliool and universily students. This will be achieved by supporting the Bai. Council's Bar Placeinent Week, hosting Open Day5, monitoying websit¢ traffic, developing links with Chamber5 and aluinni, and p]DVide of work-ba5ed learning and iillP1Dvng cojnmunications intemally and externally..
THE COUNCIL OFTHE INNS OFCOURT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 PLANS FOR FUTURE PERIODS (CONTINUED) li. Introducing a charge for students who choose to access the Part I Inaterials for more than 12 Inonths without entering or passing the BSB exajns from Septembei. 2024.. iii. Developing links with SBAS to further enhance and inci'ease the ICCA Bursary Scheine to ake av2ilable Inore bursaries to bright and deserving candidates froin socio-economically disadvantaged backgrounds and candidates who have protected chai'acteristics under the Equality Act 2010,. iv. Exploi'Eng 50uires of funding to build an ICCA Scholarship fund to further improve accc8sibility to the Course, and reduce attrition rates between acceptance and eni'oiment. 8. Over811 r¢fr¢shing Dfthc Part One Course matei'ials, and cothtinued enhanceinent of the Part Two CouJ3e, and enhanccmcnt af thc qualtty olieaehing on the Bar Course, which will lead to cothtinued sector-leading BSB a88essm¢nt rcsults and pupillage rates. 9. Ensuring the high-quality Bar Course is accessible to coinimitted, motivated and diligent students regardless of their background, by promoting diversiry and equality of opportunity and widenitkg participation. This will be achieved by the illlplem¢ntation of th¢ Fair Re¢ruitin¢ni Poli¢y, blind sifting of candidates and continual professional and tiaiispgient d&to analysis and r¢porting. 10. C(Intilluing to update and make available Pupillage Ethics In8t¢ria15 to 811 pupils th¢r¢by gen¢i'8ting a modest incoine for the ICCA and a55iStin¥ pupils to succ¢¢d in the BSB as5es&inent. I l. Extellding the ICCA'S capability to host and m&intain ¢ont¢nt for the CirLuits and ilie Inns on tl)e ICCA'S VLE on an al-cost basis, with einpha5is on best practic¢ and effe¢liv¢ VLE manaBem¢nl- 12. Working with and supporting the Inns of Court, to provide l¢ad¢rsliip and guidance in high quality advocacy including by.. Offering opportunities in London and on c]Ult several times a year to vndeTtske the AthIocttfUi. Childi'eK in Cofil¢1 willi ihe Law (ACCLI course and ¢n¢oui7ging ils accreditation by the Regulatoi. to enable pra¢titioner5 lo demonstrate ¢omp¢tence' ii. Continuing to suppoit and develop the AdvocacJ> andihe Viiliieiable.. Ci'iiiie and Faiiiily prowainimes by training new Lead Facilitators foi. the Family Law Bar Association and the Crowii Pi'osecution Service. 13. Supporting the eontinued improveinent of advocacy training in jurisdiction5 Outside of the UK by seeking external fuiiding and exploring methods of providing high quality and seed corn training to deserving oi'ganisations. 14. Promoting intei'national exchanges of best practice in advocacy training by continuing involvement with mlllti4iisciplinary practice lawyers from every continent and especially those with a vested interest in advocacy training and excellence in advocacy. 15. Assessing the ICCA'S digital mindset in consultation with external experts to asslst us lo clarify our 5tratcgy, connect with experts and transfoi'in our digital landscape with a view to being able to further dcvclnp our cxpcrtigc in c-Leai"ning. In this way. we can aiso properly offer the Inns and Circuits assistance in developing, cnhancing and hosting online tIBining inaterials to support their delivery of high.quality tratning, and doing so on an at-cost basis. 16. In wnsultation with the Govei'ning Body, the Inns and Circuits. ideniifying, researcl)ing and scoping possible fvture workstreain5 that are necessaiy foi" rhe Bar to ren)ain current and inforined in pi"actice including Rape and Serious Sexual Offences (RASSO) and tackling rape myths, and Artificial Intelligence (All (bringing digital lit¢17¢y to the fore and recognisiEJg the value and potential of Al. thinkii)g beyond what our justice systein is ¢urrenily capable of doing and instvdd einbarkitlg on vision-based thiEJking}, Pupil Supervisor training and tTaining in expel'l and statistical evidence. 17. Assisting the Cir¢uits io mall¢ the develupin¢nl of new re¥ulaioiy requiresnents in Ihe delivery of Pypillage Advocacy and New PJaLtilion¢r TraETring by ¢TriLbling Ihein tv man£lge ihell. own VLE l¢nancies and by offei'ing new )aining7 materia15 10 (kliv¥r lu Pupils dnd New PraLtilioners. 18. Proinoting the TTaulna-infolled AdvvLacy trainingT so that a5 anY users as possible can aLte55 the Inatei'ials and adapt tbeiT practice5 to accommodate ti'auinatised withe5ses and ih05e caught up in the justice system.
THE COUNCIL OF THE JNNS OF COURT TRUSTEES, REPORT FOR THE YEAR EF4DED 31 DEI CEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMEIYT The Board of -[ ru5t¢e5 15 responsible for thc overall manageinent of COIC but delegates iespon5ibility for the day to day Inanagementto its DiTertor, within a fraincwork of agreed policies and controls. At 31 Deceinber 2024 the Board cumpi'ised 9 Trllstees. COIC alin5 lo ensure ihat its Bnayd is properly balanced in lei'ms of gendei., ethnicity, disability repTesentation and skills and experienc¢ i'elevant to COIC activities. The Board of Trustees ts assisted in its work by (i) a Strategic Advisory Group made up of representative5 from the Inns, the Bar Couneil and th¢ Bar Standaiyls Board, which meets at le1 twice a year; and (ii) a Manageinent Sub-cominittee of the TrsIteS which is Inad¢ up of the Sublunder Treasurers of the Inns of Court and which meets six tiine5 a year, shoi'ily in advon¢e of ineeungs of the Tiste¢S an(Voi' Strategi¢ Advisory Group. With regards to the work of the Inns of Court College of Advocacy the Tnjstees are assisted by & board of tiovemors its 5ub-eoininittees. With regards to the work of th¢ Bar Tribunals Service, the Tiustees are assisted by th¢ snput of the BTAS Strategic Advisory Board and Tribunals Appointinen15 Body. When appropriate, to aid induction of new Trustees we in5ufEd, wherever possible, thatthey Trustees attend Ineetings prior to tal(ing up post. COIC Truste£s i'eceive papers prior to each meeling. Full guidance on Trustee duties was made available and new Tru5te¢s are briefed to review roles, sÉtuctures, prioriti¢s atLd responsibilitÉes The Trustees are Y¢sponsible foi. setting thepay and rernuDe17tion of the charity's employees ineluding the key Inanageinenl pei3onnel. Salw'y penbion payinents to all COIC personnel are approved by the TrustCCS as part of the annual budget pi'oce5s, and over the inure than ten years of the charity's opei'atlOn5 this has resulted in ncar-intlaÉionary increases that applied equally to all 5tatTwithout regard to seniority. To aid tlie Trustees in detennining what (if any) percentage increase is appropriate as pai'l of this annual pay ieview process. reseai'ch 15 undeiiaken to confwm the pay inci'eases awarded in coinpai?ble oi'ganis8tion5 (Jnost notably the foul. Inns of Court). Starting salai'y levels al'e also benchmarked so that tliey al'e coinpatible with thoSE paid for siinilarroles elsewheiE (again, particularly at the Ini)s of Court}. Staff whose role changes 51gniticantly during their period of einployittent may have theii. salary reviewed to ensuiE it remains appi'opriate, and any increases deemed ne¢e5sary niust be approved by the Director of COIC. CORPORATE GOVERNANCE I'he following stateinellt 15 intended to pi'ovide readers of COIC'S Annual Report and Financial Stst¢mtnts a better understAnding of its governance and legal structure at the date of the approval of this Annual Report. COIC'S Structure, Governance and Management is set out in the iminediately 't¢edIng section of this r¢porL COIC'5 Aiticles of Association date froin 2014 and underpin the governing practices adopted by the Board. COIC'S Statement of Purpos¢ 1$: FoiiNded b)J ihE Inply ofcoiii'l, COIC works )viih Iheiii slrekFgi17eiiin¥ ihe riilg oflaw ihp'oiigh acelle17ee iiiprofessional ethiculioji andin ni&iiFiaiKing ihe highes15la17dui.ds ofprofexsionol condi¢¢l. COIC'S Trustees are legally responsible foi. the ov¢i'all management and contt'ol of COIC. The Board of Trustees meets at least four times a yeai. A MarLagfflllent Sub-coininittee of the COIC Th'ustees w&s established in 2023. This i5 Imade up of the four SublUnder- Tieasurers {CEOs} of the Inns of Court who Serve ex offiGio as Trustees and the Director of COIC. The Management Sui Committee's role is to Inonitor and scrlltinise the deliveiy of COIC.'s 8trategy, supporting and holding COIC'5 Executive to account in th¢ oversight of COIC'5 operations and associated resources. and advi$e COIC'S Executive oll the suitability of pi'oposed activitle5 aiid associated expenditure.
THE COUNCIL OF THE INNS OF COURT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED) The ICCA Governois advise the Twstee5 on all illatters relating to the ICCA and its Bftr Cotji'se. The Governors Ineet at least Eisht times a year to discuss currenl issues and to agree aetions hs reqiiired. This includes an annual Away Day, where matteTS ufstralegic and longei'_lerin iinportatice peJtainin8 to the ICCA al'e considered. The Govemors are assisted in their work by a number of SUcOlInIt*eeS that focus on specific areas of business.. Finance & Operations Cominittee International Committee Boai.d of Exatniners Appeals Committe¢ Education Committee The ICCA Governors are responsible for the ovei'sight of atjy regulatory responsibilities including eoinplianee with the otS'$ ottgoing ¢onditions of registraiion. INTERNAL CONTROts Identifying and m3naging risk is a key part of the work of the Trnstee5 and spe¢ifi¢ally the Maiipgement Sub Committee. This is addressed by the maiiilenitllL¥ and development of a Risk Register that is discllssed and updated as necessary. The Risk Register in¢ludes an assessment of financial, operational, reputational and health and safety risks. Internal conti'015 are based on both the likelihDod and potential iinpact of the risks occurring. and take into accouiit tnitigation measui'es that can be put in plar¢. This approach identifies key risks and enables IEsponses to be pyioritksed accordingly. Trustees understand that it is their iesponsibility to ensure that an appropriate systein of internal controls is maintained and reviewed as appi'opi'iate. Tht Trustees and external auditors have not identified any signifjcant interllal control weaknesses or failures in the financial yeai undei. review or in the pei'iod up to the date that this Annual Report was approved. TRUSTEES, RESPONSIBILITIES STATEMEF4T The Ti'llstees {who are also Directoi's of COIC for the purpose of company law) are re5pon5ible for prepaiing the Ti'ustees, Rcport and thc finai)cial statements in accordaM¢e with applicable law and United Kingdoin Accounting Stand&i'ds (United Kingdo1 Oenerally Accepted Accounting Practice). Coillpany law r¢quires the Trustees to prepare fiDancial slat¢ments for each fanCIal year which give a true and fail. view of the state of affaii"s of the charitable coinpany and of the incoming resoueS and application of resouTces, including the income and expenditure, of the chai"itable eoinpaDy for that year. In prepaTiEJg these financial stateinents, the Trustees arE required io.. Select suitable accounting policies and then appty thein consisÉently- Obsetve the methods and principles in the Charities SORP. Make judbTtm¢nls and estiinates that are reasonable and prudent. State whether applicable UK Accounting slandards have be¢Tk followrd, subj¢ct to any rnaterial departu5 disc105ed and explained in the financial stateinent5- Prepare the fJnan¢ial 5tatenients on the going concern basis unless it is inappropi'iate topresume that lh¢ charitable coinpany will continue in business. 10
THE COUNCIL OF THE INNS OF COURT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEI ES, RESPONSIBILITIES STATEMENT (CONTINUED) The Trustees are reskX)nsibl¢ for kxping proper accounting recoi'ds that disclos¢ with reasoi)able accuracy at any time of the financial position of the Charitable coinpany and ellahlc them to cnsui'e that the financial stateinents coinply with ihe Companies Act 2006. They are also rcsponsible for safeguarding the 95sets of the ¢h&rit#ble coinpany and hence foi. taking reasonable steps for the prevention and detection of fraud and other irregulaTlties. In so far as we are aware.. The is no relevant audit informatsork of which the charitable coinpany's auditor is unaware. and The Th'uqtce% havc taken all steps that they ought to have taken to Inake theinselves aware of any relevant audit inforination and to ¢s(ablish that ihe auditor i5 aware of that information. By order of the Board on and signed on it5 beh&lf by.. Signed.. (Trustee) Name.. r+41 ¢+4tr¥ Date..
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OFTHE COUNCIL OF THE INNS OF COURT Oplnio W¢ have alldited the financial statements of the Council of the Inns of Court for the year ended 31 December 2024 whic oi)prise the Stateinent of Finaiicial A¢tivities, the Balance Sheet, the Statement of Cash Flows and notes to the financial stateiii¢nts, inLluding a suininary of significEnt accollnting policies. The financial reporting frainework d)at has bee appli¢d in Iheir preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The FintT17cial Rep(Irling Sittndui'dappllcable in the UK aiFdRepiiblic ofli'eland(Unit¢d Kingdom GenETally Aepted Accouiiling Practice). In our opinion, the financial statejnents.. give a true and fail. view of the slate of tlie chai'itable coinpa]iy's affairs as a1 31 Decembei. 2024 and of ihe chai'itable coinpany's net movement in funds, including the incoime and expendiiure, for the year then ended: have been pi'opei'ly prepaied in accordance with United Kingdoin Generally Accepted Accounting Pi'actice,. and have been prepaTed in accordance with the r¢quireTn¢nts of the Coinpanies Act 2006and the Office for Students Account# Direction. Basis for opinion We condu¢ted our audit in accoi'dance with International Standwds on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities underth05e standards are further desci'ibed in theAuditor'5 responsÉbilities for the audit of the financial stateinents section of 0r report. We are independent of the chai'ity in accordance with the ethical reqiiiieinents that are i'elevant to our audit of the fInancial stateinents in the UK, in¢luding the FRC'S Ethical Standai'd, &nd we have fulfilled our other ethical i'¢sponsibilities accordance ivith these requireilleDts. We believe that the audit evidence we have obtained 15 sufficient and appr(>priatc to provide a basis for our opinion. Re5ponsibllltles of trustees for tILe finftmclal statcmcnts As explained mol'e ]lY in thc trustees, responsibilities slatement sel out on page 6, the trusttts (who ale also the dii'ectors of the charitable company for the puiposes of company law) are responsible for tlie preparation of the fEnancial st&t¢ments and foi'being satisfied that they giv¢ atrU¢ )nd fair view, and for such inteimal contlDI as the tStee$ detemiine is necessary to eiiable the pr¢paraÈion of financial stateinentg that are free from material misstatetnent, whether dut io fraud or error. In pr¢paring the financial stateinent4 the trustees are responsible for assessing the charitable company'5 abÉlity to continue a5 a going eoncem, disclosing, as 8pplicable, matters related to going ¢on¢ei'n and usEng the ¥oing concern basis of a¢couTrting unless the knistees either intend io liqvidate the Gharitable coinpany or to cease operations, or Iiave no realistie alteTnative but to do 50. Coiiclusion5 relating to golng concern In auditing tl)e financial stateinents, we have conclud¢d that the ts'u5tees' use of the going concern basis of accounting in the prepation of the financial stateinents is appropriate. Based on the work we have perforined, we have not ideiitified any inaterial uncertainties i'elating to evellts or condition5 that. individually or collectively, Inay cast signifi¢&nt doubt on ihe charity's ability to continue as a going concern for a riod of at least twelve inoiiths fi'om when the financi&l stateinents al'e authoj'ised for issue. Our responsibilEties and the responsibilities of the ti'ust¢¢s with Tespect to going concern are described in the relevant sections of this I'eport. Other informgtion The trustees are respoiisible foi. the other information. The other information coinpi'ises tlie infonnalion included in the Trustees, Annllal Repoit. Our opinion on the financial statements does not cover the othei. inforination and, except to the extent otheiwise explicitl), stated in our report, we do not express any forin of assurance conclusion thereoll. In connection witli our audit of the financial stateinents, our responsibility is to read the other inforination and, in doing so, consider whether the othcr infoi'mation is materially inconsistent with the financial statements oi. our knowledge obtained in theaudit oi. otherwise appears to be In2tei'ially mi5Stated. Ifw¢ identify such material inconsistencies or appaient Iaterial misstateinents, we are iYquir¢d to deterinine whether thejr is a material Inisstateinent in the financial StatelentS or a material Inisstateiment of the other information. If, based the work we have performed, we coiiclude that tl)ere 15 a material Inisstateinentof this other infomation. we aiE requii'ed ¢0 report that fact. We have nothing to report in this regard. 12
INDIIPENDENT AUDITORS, REPORT TO THE IIIEMBERS OF THE COUNCIL OF THE INNS OF COURT Oplnion$ on other matters prescribed by tlie CompAnie$ Act 21)06 In our opinion, based on the work undertaken the course of the audit.. the inforination given in the Trustees, Report (which inelude8the strategi¢i'eport and the directors. report prepai'ed forth¢ puipo5e& ofLuJnpany law) forthe financial year for which the financial statemetJ15 1¢ IE pi'epaiEd is eon.%istcnt with the financial 51ittements' and rhe strategic report and the diieclors, report in¢lud¢d within the Trnstees. Reporthave been prepared in accoi'dance with applicable legal requirements. Matters on ivhSch we are required to report by exception In the light of the knowledge and undeistanding of the charitable company and its enviiDninent obtained in the course of the audit, we have not identified material misstateinents iii the TTU5tees' Repoit (which incorporates the directors, report). We have nothing to report in respect of the following matters ill r¢lation to the Coinpanies Act 2006 requir¢s us to report to you if, in oui. opiniun.. adequate ac¢ounting r¢coi'ds have not been kept by the charitable compaDy,' oi. the charitable coinp8lly's f]nan¢ial siateinents are rkot in agi'eeinent with the accounting i'¢cords Ènd returns., or ertain disclosures of trustees, t'einuneration specified by law are not Inade,. or we have not received All the infomiation and explanations we I'equÉre for our kudit. Matters on wliich Ive are required to report in respect of tlie Office of Students In our opinion in all Inaterial respeets.. funds a(hninistered bj, th¢ charitable colpallY for Specific puryoses during the year ended 31 DK¢inbeY 2023 as dis¢losEd in tkote I I to the accounts have been applied for thos¢ putposes and iallged in accordaNce with Iplevant legislation. funds prowid¢d by the OFS and Department foi. Education have been applied in accordance with the tei'ins and conditions attached to them during the year ended 31 December 2024.. alld We have nothing to r¢poil in respect of the following i))anei's in relation to the Office for Students requires us to I'eport where.. grant and fee incoine as disclosed in note 4 to th¢ a¢¢ounts, has been matei'ially misstated. Expenditui'e on access and partiripation activities for the financial ye8r has been materially Inisstated. Re5poiisibilities oftrustees for the finAneial statements As eXplaed more fiilly in thE tt'ustees, responsibilities ststeinent set out on pages 6 to 7, the trustees are i"esponsible for the preparation of the financial statements and for being satisfied that they give a knue and fail. vi¢w, and for such intemal control as the trustees determine is necessary to enable the prepaiation of financial statements that are free from inaterial InisstatemeTrt, whethei. due to fraud or error. In preparing the financial statements, the trustees are responsible foi. a55essing the chai'ity's ability to ¢tsntinue as a going concern, disclosing. as applicablc, matters related to going concern at)d using the going concern basis of accounling unless the trustees either intend to liquid&tc the charity or to cease operations, or have no realistic alteniative but tu do 50. Auditor's re5ponsibilltSes for the audit of the finaiici81 statements Our objeclivcs al'e to obtain reasonabl¢ assui'ance about whether the financial statanents as a whole are fre¢ fi'oEn IMatErial InisstateilleTrl, whether diie to fiaud oi'eri'or, and to issue an auditor'5 repoitthat includes our opinion. Reasonable assui'aE]Ct is a Iiigh level of assurance, but is noi a guarantee that an alldit conducted in accordance with ISAS (UK) will always detect Inaterial i]SState1Thent when it exEsts. MisslatelentS can arise from fraiid oi. errol. and are wnsidei'ed inaterial if, individually or in the Aggregate, they cotjld reasonably be expected to influence the 00M1C d1$10$ gf vset5 taket) o the basis of these financial statein¢nts. Irregularities, inelllding fi'aud, are in518nces of non-coinplianee with laws and regulations. We design procedure5 in liiie with oui. Irsponsibilities, outlined above, to detect iatel'i&l misstateJMents in respect of irregularities, including fraud. The extent to whtch our procedures are capable of detecting iriegulai'Éties, ineludit)g fraud 18 detailed below.. 13
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE COUNCIL OVTHE INNS OF COURT (continued) Based on our understanding of the charity and the environinent in which it operates, we identified that the principal risks of non-coinpliance with laws and regulations related to coinpliance with employinent law and health and Safety regulations, and we considered the extent to which non-compliance Inight have a material effect on the financial statements. We also considered those laws and iegulations that have a direct iinpact on the preparation of the financial 5tateinents such as the Compani¢5 Act 2006, the Charities Act 2011 and the OffJ¢¢ for Students Accounts Direction. We evaluatedillanageinent's incentives and opportunities for fraudulent Inanipulation of the financial statements {including the risk of overi'ide of controls), and deterinined that the principal risks were related to Inanageinent bias in certain accounting estsmates. Audit procedures perfomied by the engageinent teain included.. Inspecting minutes of trustees ineetings,. Inspecting correspondence with i'egulators and tax authorities. Discussions with manageinent including consideration of known or suspected instances of non-¢oinpliance with laws and regulation and fiaud., Evaluating mana¥ement's controls designed to prevent and detect irregularities. Identifying and testing joumals, in particular joumal entries posted around the y¢ar-end or with unusual desci'iptions; and Challenging assuinption5 and judgements inade by management in their critical accounting estiinates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leadingF to a Inaterial misslateinent in the financial statements or non-complik)nce with regulation. This risk increases the InoTe that coinpliance with a law or regulation is reinoved from the events and transactions retlected in the financial stateinents, as we will be less likely to becoine aware of instances of non-compliallce. The i'isk is also gTcatei' regarding irregularities occu}ng due to fraud rather than ¢rror, as fraud involves intentional concealment, forgery, Collusion, omission or Inisrepr¢sentation. A further descriptlOD of our responsibilities for the audit of the financtal statements is Iated on the Financial Reporting Council's website at: www.frc.oi"IT uklauditoi"sr¢s onsibilities. This descriptson fonns part of our auditor's report. Use of our report This report is made solely to the charitsble toinpany's Inembers, as a body, in accordance with Chapter 3 of Part 16 of the Coinpanie5 Act 2006. Our audit work has been undertaken 50 that we Inight state to the chai'itable coinpany's Ineinbers those InatteTS we are required to state to them in an Auditor'5 i'eport and for no other pui'pose. To the fiillest extent perinitted by law. we do not accept or assume responsibility to anyone other than the charitable coinpany and the charitable compan5 members as a body, for OUT audit work, for tl)is report, oi. for the opinions w¢ have formed. Thomas Wilson (Senior Statutoi'y Auditor) for and oij behalf of HaysM8c LLP Statutory Auditor 10 Queen Street Place London EC4R IAG Date.. 2810512025 14
THE COUNCIL OF THE INNS OF COURT ST A TEMENT OF FINANCIAL ACTIVITIES FOR THE YBAR ENDED JI DECEMBER 2024 Unrestricted Restrleted Vunds Fllrtd$ 2024 2024 Total Funds 2024 Total Funds 2023 Iyotes INCOME FROM: Donations and legacies Charitable activities Investments Other 1,351,376 3,357,854 25,702 2,556 20,000 1,371,376 3,357,854 25,702 2,556 2,080,240 1,907,394 13,068 TOTAL 4,737,488 20,000 4,757,488 4,000,702 EXPENDITURE ON: Charitable octivities Training Regulation 4,034,969 675,875 7,500 4,042,469 675,875 2,971,095 541,310 TOTAL 4,710,844 7,5(K) 4,718,344 3,512,405 NET INCOME 26,644 12.500 39,144 488,297 RECONCILIA TION OF FUNDS Tot21 ndS brought forward $17,734 99.100 916,834 428,537 TOTAL FUNDS CARRIED FORWARD £844,378 £111,600 £955,978 £916,834 None of the compatjy's activities were acquiTed OT discontinlted in the year. Tliere were no recOlsed gains or105ses othcr than those included in the Stateinent of Fin80¢i8l Acliviiies. 15
THE COUIYCIL OF THE INNS or COURT BALANCK SHEET AS A'f 31 DECEMBILR 2024 2024 2023 Notes FIXEI D ASSILTS Tanglblt gssets 45,490 37.539 CURREI NT ASSETS Debtor5 Cgsh at bank and tn hand 370,451 1,337,002 208,179 1,222,903 1,707.453 ,431.082 CREDITORS: Ainourtts fAlling due within one year 10 1796,9651 1551,787) Nel cuirent osse15 910,488 879,295 NET ASSVTS £955,978 £916,834 FUNDS Restrioled Fiinds Uni'estricted fuiids 12 111,600 844,378 99,100 817,734 TOTAL FUNDS £955,978 £916,834 The accounts were appyoved by th¢ Trustees aiid autho or issue on and Signed on its behalf by-. Si8nEd: ITTu5c) Naine.. Dale.. Sigiied.. JGv-*-r (-th4 VC o Jftp4 C1 £ I bp4E4L ILL I •LKJl (Tivstee) Naine., Dg1¢'. Signed.. (ICCA Dean & OtE A¢countabl¢ Officer) Nai¢.. LYNtsA ki815 Kc (H.,)
lols- Date; 16
THE COUNCIL OFTHE ItYlYS OF COURT ST ATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash tlows from operatijtg activltie$: Net cash provided by operating activilie5 (see below) 137.185 793.210 Casli flows from invting actlVTties', Purchase of fixed assets (23,086) (31.353) Net cash used in investing activities (23,086) (31.353) Change in cash and cash equivalents in the year 114,099 761,857 Cash and e85h equivalents at the beginning of the year 1,222,903 461,046 Cash and ca51L equivalents #t the end of the year £1.337,002 £1,222,903 Reconciliatiort of net intome to net eash tlow (rom oper8tang activities Net income for the reporting period {as per the statement of financial activities) Add depi'eciation (Increa9¢ydecrease in debtors lTrcrease in cY¢ditors 39,144 15,135 {162.272) 245.178 488,297 10,195 154,555 140,163 Net cash provided by operalÉng activitie5 £137,185 £793.210 ANALYSIS OF NET DEBT At l J&Duary 2024 At 31 December 2024 Cash movements Non-eash movements Cash at bank and in hand 1,222,903 114,099 1,337,002 £1,222,903 £114,099 £1,337,002 17
THE COUNCIL OF THE INNS OF COURT NOTES TO THE VINANCIAL STATEMENTS FOR THE YEAR KNDED31 DECEMBER2024 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncei'tainty in the preparation of finan¢ial statements 15 as follows.. Basis of Accounting The fii)ancial statements have been prepared in tjccordance with Accounting and Reporting by Charitie5: Stat¢ment of Recoinmended Practice applicable to ¢hai'itiEs prepai'ing their accounts in accoixlance with th¢ Stateinent of Recoinmended Practice foi. Chai'ities (SORP 2015) (Second Edition, effective l January 2019) and the CoJ))panies Act 2006. The Council of the Inns of Court Ineels the defiTiÉlion of a public benefit entity under FRS 102. Assets and liabilities are initially re¢ognised itthistorEcal costor transaction vallle unless Othciivise stated in the relevant accounting policy note(s). PrepAration of the aceounls on a going Concern basis Having consideTed future budgets and cash flows, the Trustees confimi that they have no matei'ial uncertainti¢5 about the entity's ability tLI continue as a going concern for the foreseeable futhre. Ineome All incoming resourcc5 are included in the SOFA once the eharity has entitleinent to the incoine, it is pi'obable that the Encoine will be rpKeived and th¢ amount of income receivable can be Ineasured reliably. The following specific licies apply to categories of incoine- Volut]tary incoi)ie dongtjDns & grants where related to Performance and specific dEliverables are ttccounted for as the charity eai'ns the l'ight to consid¢Yation by its perforinance. Where incotne 55 received in advance of its recognition it is defev'ed and included in creditors. Wh¢re entitlement occurs before incoine being received the income is accrued. Course fees alp accounted for in the period to which they relate. ExpendÉtui All expenditure is accounted for on an accruals basi5 and has been classified under headings that aggregate all cos(s i'elating to th¢ following categories.. Chai'itable A¢tivilies- Costs of eh#ritable activi¢i¢s comprise all costs identified as wholly or Inainly attributobl¢ to achieving the charitable objectives of the tharsty, including the costs of disseininating inforinatioll in Suppori of charitable J¢tivitEes. These costs include staff costs, wholly or mainly ath'ibutable support COSts and an appoi'liL)nment of ¥tneral ov¢rhe&ds. Support costs are those functioi)s that Assistthe work of the charity blltdo not directly undertake chaiirable activities. Support costs include offi¢e Costs, finance, pei'sonnrl, payroll and govemance costs whi¢h support tl)e Council's activities. The ba5iS OTr which support costs have been alloc&ted aiE shown below. Govei'nance costs These ¢ompi'ise all costs identified as wholly or Inaiiily attributable to ensui'ing Éhe publi accountability of ihe d]arity and its colp]lanCe with regulations. Alloeation of costs Staff costs are allocated by tlic Triistees between direct chai'itable ¢xp¢nditure and support expenditure on the basis of time spent on these activiti¢5. Othei" costs are ascribed directly to the relevani heading. 18
THE COUNCIL OF THE INNS OF COURT NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES {contlnued) Pension costs The Council of the Inns of Court operates a defined contTibution% scheine for the benefit of the employees. Th¢ assets of the Scheme are held ind¢pendently fiY>in those of the chai'ity an independently adininistered fund. The peTr5ion costs charged in the finan¢ial slateinents represents the contributions payable during the year. Taxatlon No pi'ovision has been made foi. corporation tax or defeiTed tax for The Council of the Inns of Court as it is a registered charity and is therefore exeinpt. Restricted funds Where #rants aiE to be spent in accordance with terms agreed with the funders, the incoine atid related expcnditure are shown as 'Restricted' Any unsP¢IIt resti'icted income al the year-end is deferred foi. spendiTrg to lU1 years. Unre5trScted fund5 Col'e incoine and 5u¢h other income for which thei'e are no restrictions Oti the way it can be spent are tevined 'Unrestrioted' Su¢h unspent income at the y¢ai'_end is terined'Unrestrict¢d funds,. Fixed assets All fixed asset5 are 5taied at cost less accumulated depreciation. Items ¢osting less than £500 are not capitalised. The ¢arrying valu¢s of other tsngible fixed assets 31e reviewed for impainn¢E]t i(events or change in circum5tanLes indicate the carrying Yalue Inay not be recoverable. Depreciation is prowided at rates calculated to write off the cost, less any eslllnated residual vallle, of each asset evenly over its exp¢ot useful lif¢, as follow5: Coinputer equipinent OACe furnimre 4 years 4 years Debfors Trade and othei. debtors are recognised at the settlement amouni due after any trade di5¢0unt offered. Prepayments &re valued at the amount prepaid n¢t of any trdde discounts due. Cosb at bank Ond In hEnd Cash at bank and in hand includes bank account4 tash and shorttei'm highly liquid investmenls with a short maturity of three months oi. less fi'om the date o(acquisition or opening of the deposit ol. similar account. Creditors and provisions Creditot% and piDvisions are recognised where the charity ha5 a present obligation i'esulting froin a p&8t cvcnt that will probably I'e5ult in the transfer of funds to a third pai'ty and the amouni due to settle the obligation Can be measured or estimated reliably. Creditors and pi'ovisions air normally recognised at their settlejnent ainount after allowing foi. atiy Irade discounts due. FivaThcial instruments The charity only has financial assets and financial IiRbilities of a kind that quallfy ag basic financial insti'uments. Basic fanCIal instruinents are lllitially recogTki5ed at transxclion value and subsequently in¢asui'ed at their settleinent valu¢. Estimatton uTh¢ertainty In the vieH' of th¢ Trnstee5 in applying the accountui¥ ix)licies adopted, no judg¢m¢nts were required that have significant effecl on the ainounts recognised in the financial 5tateinenls nor do any estimates or assuTnptiolls made ai'ry a significant risk of Inaterial adjustment iii the iiext financial year. 19
THE COUNCIL OFTHE INNS OF COURT NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Gi8t)ts receivEd from the Inns ofcourt towards general activities BuTsaries grant 1,351,376 20,000 1,980,240 100,000 £1,371,376 £2,080,240 CHARITABLE ACTIVITIES- 2024 Unrestricted Funds RtrIcted Funds Total 2024 Total 2023 Fee iiicoine Bar Standards Board (BSB) iniake fee Ethics income Viitual Leaming Experience (VLE) support 3,078.344 217,314 50,407 11,789 3,078,344 217,314 50,407 11,789 1,876,292 28,806 2,296 £3,357,854 £3,357,854 £1,907,394 All activiti¢s wei'e unrestricted in 2023. GRANT AND FEE INCOME 2024 2023 Fee income from taught awards 3,078,344 1,876.292 £3,078,344 £1,876,292 ANALYSIS OF EXPENDITURE- 2024 Direct Costs Support Costs GoverDRnee Costs Tot21 2024 Total 2023 Charitable activili¢s= Training Regulation 3,161,713 349,269 866,924 321.498 13,832 5,108 4,042,469 675,875 2,971,095 541,310 £3,510,982 £1,188,422 £18,940 £4,718,344 £3.512,405 ANALYSIS OFEXPENDITURE- 2023 Direet Costs Support Costs Governance Costs Total 2023 Charitable activities.. Training Regulation 2,258,496 248,487 695,043 287,009 17.556 5.814 2,971,095 541,310 £2,506,983 £982,052 £23,370 £3,512.405 20
THE COUNCIL OF THE If4NS OF COURT NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS CONSIST OF: 2024 2023 Stafycosts Other 51aff related costs Establishinent costs Insurance Finance arÈd aceounting fees Othej. pmfessional fees OtTice costs IT costs Bank charges I¢(0Verable VA T 298,885 12,234 488,023 66,034 22,892 52,972 53,552 136,257 1,307 56,266 266,897 13,418 452,119 64,910 16.080 19,621 47,463 100,509 1,035 £1,188,422 £982,052 GOVERNANCE COSTS 2024 2023 Auditor'8 remuneration Other proftssional fee5 16,000 2,940 14.500 8.870 £18,940 £23,370 Othei. fees payable tothe auditors (forotherbvsiness support) ainounted to £21,982 (2023.. £15,600) and are included within support costs. No Trustee5 received any remuneration during th¢ yeai.. EMPLOYKES 2024 2023 Staff costs were as follows.. Wages aiid salaries National iiisuranee contributÉons Pension conti'ibutions 1,803,632 214.168 266,228 1,318,917 160,879 220,190 £2,284,028 £1,699,986 The average nutnber of anployees during the year was as follows.. No. 30 (28.14 FTE) 26 (24.66 FfE) 3 (2.4 FTE) 2 (2 FfE) Chai'itablt activities Management and support 33 (30.54 FTE) 29 (26.66 FfE) As r¢quii'ed in the Statement of Recomix¢nded Practice for Cliarities, the nuinber of eimployees earning incoine in excess of £60,000 is provided in £10,000 bands.. £60,0(M) - £69,999 £70,000 - £79,999 £80.000 ~ £89,999 £90.000 ~ £99,999 £100,000 £109,999 £110,000~£119,999 £120,000- £129,999 £130,000- £139,999
THE COUNCIL OF THE IIYNS OF COURT NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 As required by the Office for Students, th¢ number of einployees eaming inconie in excess of £IOO,(100 is provided in £5,000 band5'. 2024 No. 2013 No. £100,000- £104.999 £1 10,000. £119,999 £120,000 . £129,999 £130,000 . £134,999 2024 2023 HEAD OF PROVIDER'S REMUNERATION Annualised basi¢ salai'y other remuneratiOTLlbenefLts Pension contributions £128,000 134.149 26,483 39,968 £154,483 £174.117 Key manageinent Tsonnel Jrinunei'atioJh {including employers NIC and pension) amounted to £381,401 (2023 £376,835. Salary Saci'ifice Ariangements.. Please no¢e that, as required in the O]S s ReildI01y1 Advice g,. Accoiiiiis Dii'e¢lion the pernsion eonti'ibution fi8u1.es above include additional contributions made by the Head of Provider as part of a salaiy sacrifi¢¢ scheme, which results in the total remuneration figure being overstated (as the basic salary figure has not been adjusted to retlect the salaTy sacrifice}. Total pension contributions Inade by COIC to tl)e Head of Provider in 2024 (aThd 2023) were I S/* of basic salary, in coinmon with all COIC einployees. The Head of Providei s reinuneration package is set with refti'eTrce to other siinilar organisations, including the Inns of Couit. It rEflects the Head of Providei"'s responsibility not just over the ICCA (through which all its edu¢ation offei'ing is pIK)vided), but the Bai. Ti'Ebun&ls and Adjudication Service, and over the cr05s-Inn collaboi'aiive function. The Head of Provider's ranuneratlOD is approved by the Board of Trustees, and the Head of Providei. i'eceives the same annual pay award as th&t given to all COIC staff. At 31 Dec£inbei' 2024 2024 the Head of Provider's basic salary was 2.2 tiines {2023.' 2.3) the Inedian pay of staff. where the median pay is calculated on a ]I-ll1e equivalent basis for the salai'i¢% paid by the provider to its staff. In 2024 the Head of Proyidci's total I'emunei'ation wa5 2.3 tiines (2023.. 2.9) the inedian total MlleratIOn of staff (whei'e the Inedsan total remuneration is calculated on a full-time equivalent b3515 for the totol remunei'ation by the pi'ovider of its 51aff). 22
THE COUNCIL OVTHE INNS OF COURT NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED31 DECEMBER 2024 FIXED ASSETS- T ANGIBLE ASSETS Computer Equipment Office Furniture Total COST Balance bDught forward l January 2024 Additions 80,639 14,021 38,476 9,065 23,086 Balance ¢arJ'ied forward 31 December 2024 94,660 47,541 142,201 DEPRECIATION Balance bought forward l January 2024 Charge in year 44,834 13,890 36,742 1,245 81,576 15,135 Balance cari'ied forwayd 31 Deceinber 2024 58,724 37,987 96,711 NET BOOK VALUE 31 Deceinber 2024 £35,936 £9,5S4 £45,490 J l D¢cember 2023 £35,805 £1,734 £37,539 DEBTORS 2024 2023 Tvade debtors Prepayinents 164,424 206,027 27.661 180,518 £370,451 £208,179 10. CREDITORS: arnounls falling due ithin one year 2024 2023 Trade creditors A [ual$ and deferred incoine VAT payable 393,411 366,839 36,715 187,275 364,512 £796,965 £551,787 D¢ferred income comprises fees received in advance. Movements in defentd incom¢'. D¢ferred income at the start of the year Amounts released to income Amounis def¢r¢ed in the year 189,499 (189,499) 275,380 130,320 (130,320) 189,499 Deferred income at the end of the yeai. £275,380 £189.499 23
THE COUNCIL OVTHE INNS OF COURT NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 11. OPERATING LEASES The total of tUre Ininimum l¢ase payinents und¢r non-cancellable opei'ating leases aye payable as follows'_ 2024 2023 Within one year Between one and two years Between two and five years 208,750 417.500 921,980 The charity had no leas¢ commitineE)ts at the year-end due to the existing lease beÉiig terininated and the new lease not yet being entered into. 12. RESTRICTED FUNDS- 2024 Balance Clfivd 31.12.24 Balance Blfwd 1.1.24 IAeome Expendlture Bursary fund 99,100 20,000 {7.500) 111,600 £99,100 £20,000 £(7,500} £111,600 RESTRICTED FUNDS - 2023 Balance C/(wd 31.12.23 Balance Blfwd 1.1.23 Income Expenditure Bursary fund 100,000 900 99,100 £1 00,000 £900 £99.100 The bui'sary fund repiesent5 fi]nds given for the purposes of awarding buwries to sdentS to enJDI om the bai cDuI'se. A further £20.000 wa5 awarded in the year. 24
THE COUNCIL OFTHE INNS OFCOURT NOTES TO THE FINANCIAL STATEMENTS (Continu) FOR THE YEAR BNDED31 DECEMBER2024 J3. ALLOCATIOPI OF NET ASSETS BETWEEN FUNDS - 2024 Unrestricttd Restricted Fund 2024 Total 2023 Total Fixed as5¢ts CuriEllt assets Creditors 45,490 5,595.853 (796.965) 45,490 1,707,453 (796,9651 37,539 1,431,082 {551,787) 111,600 £844,378 £111,600 £955,978 £916,834 ALLOCATION OF NET ASSETS BETWEEN FUNDS- 2023 Unreslricied Fund Restricted Fund 2023 Total Fixed assets Ciii'rent assets Creditors 37,539 1,331,982 (551,787) 37,539 1.431,082 (551,787) 99,100 £817,734 £99,100 £916,834 14. RELATED PARTY TRANSAcfIoNS Four of ihe charity's Trustees al'e employ¢d as SubJUnder-TreasureYs of the Inns of Court, as follows.. Stephen Cailwright OBE- Undei'.Treasurer of tlie Honourable Sooiety of Gi'ay's Inn GIEgory Doi'ey CVO- Sub-Treasui'er of the Honourable Society of the Inner Teinple Chrisiopher Ghika CBE Under-Ti'easurer of the Honouiable So¢iety of the Middle Teinple Anne Sha4)- UndpA-Treasurer of the Honoui'able Society of Lincoln's Inn In addition ¢a¢h of the four Inns nominates one of its senior members to serve as its representative Trustee, as follows.. Janet Bigi¢ll KC - The Honourable Society of Lincoln's Inn Chantal Allet Doerries KC- The Honourable Society of the Middl¢ Teinple Judge Jill Fi'ances- The Honourable Sociely of the Inner Teinple Marion Sinitli KC- The Honoui8ble Society of Gray's Inn The other trustee acts as the Pi'esident and is a senior individual of on¢ of the Inns. This is the Rt Holi Lord Justice Nichola5 Green, a Inei*bei' of the Inner Teinple. 23
THB COUNCIL OF THE INNS OF COURT NOTES TO THE FINANCIAL STA TEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER2024 The charity has the following transactions with the Inns.. All of th¢ Trubtees are represenlative5 of an Inn of Court and it is froin the Inns ihat grants of £1,351,376 {2023'. £1,980,240) are received towards general activities. Provision of HR support (for which COIC paid Middle Temple £2.700 iE] 2024 (2023 - £4,020)}. Payments for lunches (for which COIC paid the four Inns a total of £24,651 ift 2024 (2023 £19,382)), ac¢ommodation (for which COIC paid the Inns £302,960 in 2024 (2023 - £311,842)), room hire for teaching ac¢ommodation (for which COIC paid the Inns £92,97J in 2024 {2023 £57,000), and provision of payroll processing (for which COIC paid Middle Tei]]ple £3,023 in 2024 (2023 - £3,798). Theit were no other iElated party transactio$ in the year. 15. FINANCIAL INFORMATION- 2023 STATEMENT OF FIIYANCIAL ACTIVITIES Utkrestrieted Restricted Funds F'undg 2023 2023 Total Funds 2023 INCOME FROM: Donations and legacies Chai'itable activities Investments Othei. 1,980240 1,907,394 13,068 100,000 2,080,240 1,907,394 13,068 TOTAL 3,900,702 100,000 4,000,702 EXPENDITURE ON: Chsrltable activities Training Regulation 2,970,195 541,310 900 2,971,095 541,310 TOTAL 3,511,505 900 3,512,405 NET (EXPEf4DITURE) 389,197 99.100 488,297 RECONCILIATION OF FUNDS Total funds bmught forwai 428,537 428.537 TOTAL FUNDS CARRIED FORWARD £817,734 £99,100 £916,834 26