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2022-06-30-accounts

The London Report and For the School of Financial year ended Architecture Statements 30 June 2022

Trustees’ Report and Financial Statements for the year ended 30 June 2022

Overview Crispin Kelly (Chair of Board of Trustees)
Neal Shasore has completed appointments to the senior leadership team
including the Academic Director and the Operations Director. The school
is now well set up to deliver its blended pedagogy online and in school.
We are extremely grateful for the funding we have received to implement
our diversity and access mission through the generous fnancial support
of Baroness Doreen Lawrence and Elsie Owusu through the Stephen
Lawrence Day Foundation and from the Zaha Hadid Foundation.
A new strategy taking us to fnancial/academic year 2024/25 includes
exciting initiatives at sub-degree level, which we are calling Part 0 and at
post-qualifcation CPD level, which we are calling Part 4. The frst pilot
courses for these initiatives are coming this year.
In addition, the launch of the Practice Network membership programme
supports us through faculty posts and enriches our learning programme.
There are currently over 190 practices in the network who ofer
placements and just shy of 30 paying practices.
Nature and objectives The trustees present their report and the audited fnancial statements of
the charity for the year ended 30 June 2022.
Legal status The London School of Architecture was established as a Charitable
Incorporated Organization (CIO) incorporated on 10 December 2014,
and registered with the Charity Commission in England and Wales on 13
January 2015.
Registered Charity number 1159927
Charitable objectives To advance the education of the public in general (and particularly
among the architectural profession) on the subject of architecture and
to promote design and research for the public beneft in all aspects of
architecture and to publish the useful results and proposals.
Public Beneft The trustees confrm that they have referred to the guidance contained
in the Charity Commission’s general guidance on public beneft when
reviewing the charity’s aims and objectives, in planning future activities
and setting a grant-making policy for the year and that they have
complied with the duties in section 17(5) of the 2011 Charities Act.

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Public Benefit continued

Vision and mission

The trustees are satisfied that all charitable activities during the year are for the benefit of the public and the benefits of each and every activity are clearly identifiable. The trustees are also satisfied that all charitable activities are in line with the Access and Participation plan. Further details are set out in this report.

Vision

Our vision is that people living in cities experience more fulfilled and more sustainable lives. Our School educates future leaders to design innovations that contribute to this change.

Mission

To deliver on the vision and mission, a strategic plan was developed by the Executive, in consultation with the faculty and other stakeholders, and this has been agreed by the Board of Trustees.

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Change model

Outcomes

The LSA has two main outputs: graduates from the MArch programme (approximately 50-70 annually to date); and published design/research (approximately 50-70 proposals, and 8-10 design/ research publications annually).

From these emerge outcomes: students are equipped with the knowledge, skills and behaviors to contribute innovations in the design of architecture and cities; while the publication of design/ research promotes knowledge that influences others to contribute. Our graduates and publications may be destined for the profession of architecture or an adjacent profession, and both of these can contribute to our ultimate goal.

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People living in cities
experience more fulfilled and
more sustainable lives
Architectural Adjacent
profession disciplines
Graduates Design/Research
First Second Public
Year Year programme
University Professional Specific
of Liverpool body Course
Validation recognition Designation
Practice
Students Faculty
Network
Physical
Founders
resources
Vision
Destination
Outputs
Accountability line
Activities
Enablers
Inputs
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Activities

The LSA’s main activity is the MArch in Designing Architecture, a twoyear Part 2-Level programme validated by the University of Liverpool (UoL) (from 2021-22 onwards) and supported by a distinguished Practice Network of London-based architecture firms. Our tuition fees are partially offset with placement salaries from within our Practice Network. We aim to create a platform for discourse and knowledge exchange and we also have a public programme of lectures and events.

Enablers

The LSA’s three primary enablers are:

Inputs

Talented students: who will benefit from our model, which is a unique hybrid of learning at the School and at a paid practice placement, drawn from across the whole of society;

The Practice Network: a community of over 190 London practices who provide work placements, teaching, and physical resources

Faculty: who are central to the delivery of the programme, and who drive the intellectual and creative life of the School

Founders and supporters: who make the LSA financially viable in the mid-term by contributing donations or sponsorship

Physical resources: where the programme delivery takes place, such as the LSA studio or the Practice Network

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Institutional Governance

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Charity
Commission
Board of Trustees
Finance &
Remuneration Audit & Risk People Bursaries
Fundraising
Committee Committee Committee Committee
Committee
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Academic Governance

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Architects Royal Institute Quality
Registration of British Assurance
Board Architects Agency
Royal Institute
Academic Board of
of British
Court Trustees
Architects
Executive External
Senate
Committee Examiners
Practice Module Course
Network Leaders Forum
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Organisation

Statement of corporate governance

The LSA is committed to complete transparency regarding its corporate governance arrangements and regularly ensures that these arrangements are effective and adequate.

The Board of Trustees

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The trustees are required to:

The trustees are ultimately responsible for the policies, activities and assets of the charity. They meet regularly to review developments with regard to the charity, its activities and to make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers.

There must be between three and twelve trustees in office at all times. The identification of potential new trustees is carried out by the Board through its Nominations Committee. In selecting individuals for appointment, the Board must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

On agreeing to serve the charity, new trustees are thoroughly briefed by their co-trustees on the history of the School, the day-to-day management, the responsibilities of the trustees, current objectives and future plans.

The maximum length of service as a trustee is three terms of three years, in order to avoid the problem of multiple retirements as the original trustees reach the six year mark.

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Organisation continued

The Board of Trustees is supported in discharging its responsibilities by its sub-committees: the Audit & Risk Committee, the Finance and Fundraising Committee, the Remuneration Committee, the People Committee, the Nominations Committee and the Bursaries Committee. Fuller details on the principal sub-committees are included below.

The Board delegates the day-to-day operational functions of the School to the Chief Executive/Head of School. The Chief Executive/ Head of School is supported and advised by the Executive Committee, which comprises the Academic Director, Operations Director, Finance Manager and HR Director.

The Board of Trustees assures itself of the quality of its provision with a robust system of governance. The Practice Network, Module Leaders and Course Forum (comprising students) feedback to the Executive Committee. The academic validating partner appoints External Examiners, who review the work of the School. The Executive Committee reports to the Board of Trustees. The LSA reports externally to the Charity Commission, the Architects Registration Board, the Royal Institute of British Architects and the Office for Students (OfS).

Internal Control and Statement of Internal Control Risk Management The statement of internal control relates to the School’s arrangements for the prevention and detection of corruption, fraud, bribery and other irregularities. The Board of Trustees is responsible for the School’s systems of internal control. The controls in place for the financial year 2021-22 are considered appropriate but it is acknowledged that they will necessarily reflect the size and complexity of the LSA’s operations.

The principal controls in place are:

In line with the requirement to undertake a risk assessment exercise and report on the same in their annual report, the trustees maintain a Risk Register. The trustees have identified five areas of principal risks and uncertainties which may occur:

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Internal Control and Risk Management continued

Having assessed the major risks to which the charity is exposed, the trustees believe that by monitoring reserve levels, by ensuring that controls exist over the key financial systems, and by examining the operational and business risks faced by the charity, they have established systems to identify and manage those risks, which remain under review.

The School additionally implemented a Risk Policy this year which was approved by the Audit and Risk Committee and later the Board of Trustees. This policy will be reviewed by the Audit and Risk Committee annually.

The trustees are not aware of any failures of internal control or resultant loss in the year or to the date of this report.

Key committee terms of reference

The Audit & Risk Committee

The Audit & Risk Committee is responsible to the Board for:

  1. Supporting the Board of Trustees in discharging its responsibility for adequate and effective risk management and control

  2. Ensuring that systems are in place for the economic, efficient and effective operation of the School and for the prevention of fraud

  3. Reviewing the School’s approach to Value for Money

  4. Making recommendations as to the appointment of internal and external auditors and monitoring their performance

  5. Ensuring the probity of the School’s Financial Statements

  6. Ensuring that systems are in place to achieve data quality

  7. Undertaking such other work as the Board may require

The Audit & Risk Committee is composed of at least three independent trustees, not serving concurrently on the Finance and Fundraising Committee, at least one of whom should have a background in finance. Independent Trustees: John Oliver (Chair from January 2021), Crispin Kelly, Nick Bliss, Roland Oakshett, Robert Mull and Executive Committee: Chief Executive/Head of School, Finance Manager and Operations Director.

The Finance & Fundraising Committee

The Finance & Fundraising Committee is responsible to the Board for:

  1. Considering and making recommendations in relation to the School’s financial strategy, including annual and long term capital and revenue plans

  2. Ensuring that systems are in place to achieve financial viability

  3. Considering and making recommendations in relation to the School’s Financial Statements and management accounts

  4. Advising as and when appropriate on the financial management of the School

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Key committee terms of reference continued

  1. Reviewing and recommending the Estates Strategy to the Board, and monitoring its application and implementation

  2. Agreeing fund-raising plans in prioritized areas

  3. Overseeing the coordination and promotion of fundraising through a communications strategy designed to influence key external stakeholders to assist in fundraising

  4. Monitoring adherence to the Funding Acceptance Policy

  5. Reporting to the Board on the progress in relation to fund-raising

The Finance and Fundraising Committee is composed of three independent Trustees: Roland Oakshett (Chair), Davina Mallinckrodt and Crispin Kelly. Executive Committee: Chief Executive/Head of School, Finance Manager and Engagement Manager. External member: Carolyn Larkin.

The Remuneration Committee

The Remuneration Committee is responsible on behalf of the Board of Trustees for:

  1. Providing an independent view and governance check on executive pay and the School’s strategic approach to Total Reward

  2. Approving the School’s reward framework and compensation philosophy

  3. Approving the School’s annual cost of living award and costs pertaining to the annual Senior Managers’ salary review.

  4. Agreeing the remuneration of the Chief Executive/Head of School of the LSA and roles reporting directly to him/her

  5. Keeping under review the remuneration for all roles that form part of the School’s executive group

  6. Approving any performance related pay (PRP) awards for all eligible members of the School

  7. Reviewing issues of equality and diversity in relation to remuneration of the School’s executive team

In carrying out its responsibilities, the Committee will take into account factors such as legal and regulatory requirements, the external operating environment, the financial situation of the School, the value, breadth and complexity of all roles under consideration and the contribution of the role holder, set against national sector benchmarking data.

The Chair of the Committee shall have the authority to act on behalf of the Board (taking into account the advice of the governor representative on the appointment panel) in any case where a proposed salary fell outside the current policy.

The Remuneration Committee is composed of three independent Trustees: Roland Oakshett (Chair), Simon Allford, Crispin Kelly. Executive Committee: Chief Executive/Head of School.

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Organogram

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Accountability line
Collaboration line
Finance The Trust
Director Partnership
Engagement Partners
Manager & sponsors
Network Practice
Coordinator Network
People Chair of the
Wellbeing Coach A mbassadors
Director Ambassadors
Design
Operations Operations
Think Tank
Director Coordinator
Leaders
Board of Chief
Trustees Executive Programme
Coordinator
Year Design
Coordinators Tutors
Design History History
Director Leader Tutors
Reader in
Tectonic Technical
Architec ture
Leader Tutors
& Urbanism
Critical
Research
Practice
Director
Tutors
Practice
Mentors
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Strategic report

Key achievements

Financial objectives

The LSA’s primary financial objectives are to establish an income stream from tuition fees that covers the costs of delivery of the programme on an ongoing basis, and to secure through other revenue streams, such as fundraising, sufficient resources to fund growth and provide long-term institutional robustness.

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Key performance indicators

Students

In 2021-22 we enrolled 66 students into the sixth cohort (53 students in 2020-21 – with 2 students later withdrawing or deferring). Student outcomes are evaluated through academic achievement. Their satisfaction is reported through an annual survey.

Practice Network

Our model requires all students to be in a work placement. Our Practice Network has grown to over 190 practices. We have been successful in placing all enrolled students over the last year into work placements in London. For the academic year of 2021-22, we again successfully placed all students enrolled on the first year of the programme by the start of the year.

Regulatory requirements

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Financial position

Financial results

The financial statements are prepared in accordance with Financial Reporting Standard (FRS) 102, the applicable provisions of the Charities Statement of Recommended Practices (SORP), and the Statement of Recommended Practices (SORP): Accounting for Further and Higher Education, in order to provide a true and fair view of the financial performance and position of the CIO.

Income for the period was £1,156,997 (excluding income in kind which was nil in 21/22) (£938,738 for the year to 30 June 2021) and normal expenditure was £1,156,854 (£874,259 for the year to 30 June 2021). As a result, for the year ended 30 June 2022 there was an operating surplus of £143 (£64,479 for the year to 30 June 2021).

The surplus for the 2020-21 year reflected our continued emphasis on expenditure controls and a slightly easier environment for fundraising. The marginal surplus for the current year was a result of the late withdrawal of the overseas students and the legal costs incurred in settling an employment dispute.

The School maintained a strong cash position throughout the 202122 financial year and kept at least three months expenditure in cash reserves on average throughout the year. The School’s cash flow does continue to fluctuate through the academic year in accordance with receipts from the Student Loans Company.

The School holds its cash funds in current and deposit bank accounts with HSBC. The day-to-day management of receipts and payments is handled by the charity’s administrator and bookkeeper, The Trust Partnership, under the direction of the Chief Executive/Head of School, with close oversight from the Board’s Finance & Fundraising and Audit & Risk Committees as well as the Finance Manager.

Reserves policy

It is the policy of the Trustees to hold sufficient funds in hand such that, together with appropriately forecast and largely contracted income, commitments and expenses for the current financial year are covered and further that an appropriate budget is maintained to ensure that longer term commitments and future plans are covered. As at the end of June 2022 the School had cash balances of £319,735 (£331,004 at 30 June 2021), which together with anticipated income, was in the opinion of the Trustees, sufficient to meet its accrued liabilities and cost commitments to run the charity effectively for at least 12 months from the date of this report.

It is the policy of the Trustees to seek to keep at least three months’ operational reserves on hand in cash or cash equivalents. Receipts from the Student Loans Company (SLC), which is now the major source of income for the School, come in three tranches at the beginning of the School’s three terms – October (25%), February (25%) and May (50%). The periodic nature of these receipts, together with the broadly even spread of the School’s expenses throughout the financial year, does create ‘pinch points’ for this reserves policy for short periods during the academic year. The School has managed to keep three months’ operational expenses reserves on average during the 2020-21 and 2021-22 financial years and to the date of this report but there have been short periods (just

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Financial position continued

prior to the SLC payments) where reserves have dropped below the three months’ figure. The cash forecast for the 2022-23 financial year shows that we will continue to meet the Board’s 3 months policy on average throughout the year with similar short periods of reserves below that figure.

Going concern

The Trustees have assessed the continuing applicability of the going concern basis for the preparation of the charity’s accounts. They have carefully considered all possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for the foreseeable future, being a period of at least one year from the date of the approval of these financial statements.

The charity has considered both solvency and liquidity and is cash positive. It is forecast to remain so over the period examined. Stress testing has been undertaken to calculate the possible impact on cash resources if income in the forecast period to November 2023 is significantly reduced. In particular, the Trustees have considered the charity’s detailed forecasts and projections and its future plans to broaden the Charity’s sources of non-fee income and to widen the student intake. This testing has shown that the charity has sufficient cash headroom. After reviewing the results of the stress testing and the charity’s recent performance the Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, whilst uncertainties exist none are material, and accordingly that it is appropriate to continue to adopt the going concern basis in preparing its financial statements.

The School has started the new academic year strongly with another cohort of exceptionally talented and motivated students.

Future objectives

Architectural education and the means of monitoring ongoing professional competence are changing. As an innovator and disruptor, the LSA will seek to be on the front foot of these changes, which have the potential to offer alternative routes for architecture, an aspiration at the very core of our founding mission.

Over the coming years, the School’s focus will be on:

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Resources

People

Will Hunter, the School’s founder and Chief Executive left the LSA at the end of the 2020-21 academic year and was replaced as Chief Executive/ Head of School by Neal Shasore. Neal was joined by Samantha Hardingham, who was appointed to the new post of Academic Director.

An original member of faculty, Clive Sall, left as Design Director in March 2022 and the trustees would like to record their appreciation of Clive’s contribution to the School during its early years of existence. Samantha Hardingham now takes overall responsibility for the quality of design across the programme, overseeing all development, briefing and delivery of design teaching. Sophie Bailey continues as Operations Director, George Shaheen as Programme Coordinator, Heather Storry as People Director and Melanie Jarrett as Finance Manager. Our Network Coordinator, Jason Sayer, also left in the year and the Trustees would like to thank him for his significant contribution to the School.

In 2021-22, the module leaders were Steve Smith as Cities Leader and Design Direction Leader, Lewis Kinneir as Tectonic Leader and Alan Powers as History Leader. Clive Sall continued to lead Design Speculation, Design Thesis and Design Synthesis, Ruth Lang led both Critical Practice Placement and Critical Practice Theory and Heather Macey led the Design Think Tank Module. During 2021-22 the LSA contracted a total of 28 tutors as part of the visiting faculty.

The People Committee assists the Board of Trustees in discharging its responsibilities in relation to human resources. The Nominations Committee is responsible for selecting and inducting new Trustees. The Remuneration Committee is responsible on behalf of the Board of Trustees for agreeing the remuneration of the Chief Executive/Head of School and senior roles that report directly to the Chief Executive/Head of School, and keeping under review the remuneration for all roles that form part of the School’s management team.

In setting salary levels, the LSA offers fair pay to attract and keep appropriately qualified staff to lead, manage, support and/or deliver the organization’s aims. It also conducts online research of higher education salaries and uses surveys to benchmark levels of pay. The remuneration of key management personnel is benchmarked to relevant data. The LSA does not automatically award its staff with annual salary increases, either incremental or cost of living. Key management personnel are defined as the CEO/Head of School and the trustees.

Physical resources

In the practice-based first year, students are primarily based in their practice placement. In the second year, students are normally based at the LSA studio.

In 2021-22, First Year students had access to the facilities of their placement provider within the Practice Network as part of their employment, and our agreement with the practices. We delivered lectures, seminars and crits within the Practice Network. To help students, we have agreed a discounted rate for annual library membership with the Architectural Association, which students apply for individually.

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Resources continued

Students are entitled to use the library facilities at the University of Liverpool but must do so in person. Face to face counselling sessions are also available, at the UoL, for a fee that the LSA will cover with agreed limits.

From March 2020 all teaching was delivered on-line. For the beginning of the 2020-21 academic year some face-to-face teaching was also undertaken as the changing regulations allowed with the appropriate safeguards of social distancing, reduced numbers and additional cleaning. For the 2021-22 academic year, the majority of teaching was in person, however, a few students opted to learn remotely. For the academic year 2022-23, all teaching will be face-to face and no remote options will be offered.

Reputation

Over the year under review, the LSA has continued to establish its reputation within the architectural and higher education communities.

Highlights include –

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Resources continued

Stakeholder relationships

Strategic partnerships

Equal opportunities

The LSA’s full Equal Opportunity Policy is included in the Staff Handbook. The LSA is committed to ensuring that, as far as is practicable, all employees, job applicants, customers/clients and other people with whom we deal are treated fairly and are not subjected to unfair or unlawful discrimination.

Our policy is designed to ensure that current and potential workers are offered the same opportunities regardless of sex, race, age, religion or belief, sexual orientation, disability, marital status or civil partnership, pregnancy/maternity, gender reassignment or any other characteristic unrelated to the performance of the job. We seek to ensure that no one suffers, either directly or indirectly, as a result of unlawful discrimination. This extends beyond the individual’s own characteristics, to cover discrimination by association and by perception. We recognise that an effective equal opportunity policy will help all employees to develop to their full potential, which is clearly in the best interests of both employees and our School.

We aim to ensure that we not only observe the relevant legislation but also do whatever is necessary to provide genuine equality of opportunity. We expect everyone who works for us to be treated, and to treat others, with respect. Our aim is to provide a working environment free from harassment, intimidation, or discrimination in any form that may affect the dignity of the individual.

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The London School of Architecture – 2021-22

Trustees

Crispin Kelly (Chair) Davina Mallinckrodt (Vice Chair) Roland Oakshett (Treasurer) Nick Bliss (Secretary) Robert Mull Deborah Saunt Simon Allford John Oliver Del Hossain

Faculty

Chief Executive/Head of School (from 1 July 2021) – Neal Shasore Academic Director – Samantha Hardingham Design Director – Clive Sall (to March 2022) Research Director – James Soane (to July 2021) Cities Leader and Design Direction Leader – Steve Smith Tectonic Leader – Lewis Kinneir History Leader – Alan Powers Operations Director – Stephanie Rice (to August 2021) Operations Director – Sophie Bailey (from August 2021) Operations Coordinator – Daisy Tuckwell (to September 2021) Operations Coordinator – Gloria Ntalani (from December 2021) Network Coordinator (to January 2022) – Jason Sayer Technical Coordinator – David Baker (from November 2021) Programme Coordinator – George Shaheen Finance Manager – Melanie Jarrett HR Director – Heather Storry Engagement Manager – John Nahar

2021-22 First Year Design Tutors

Esther Escribano, Ming Cheng, Maria-Chiara Piccinelli, Steve Smith, Heather Macey, Pete Jennings, Eddie Blake, Daniel Ovalle Costal, Fabrizio Matillana, Holly Harrington, Chiara Barrett, Akari Takebayashi

2021-22 Design Think Tank Leaders

Angie Jim Ozman, Alicia Pivaro, Andrew McEwen, Cany Ash, C Dickson, Daniel Elsea, Deborah Saunt, Christophe Egret, Nick Keen, Pedro Roos, Rafael Marks, Rachel Owens, Yasir Azami, George Massoud, Lingge Yang, Jordan Whitewood-Neal, Joshua Thomas, Karman Wan, Mei-Yee Man Oram, Oscar Rodriguez, Paloma Gormley, Philip Breese, Paul White

2021-22 Second Year Design and History Tutors

Matthew Whittaker, Ruth Lang, Kit Stiby-Harris, Jesper Henriksson, Hannah Lawson, Akari Takebayashi, Luke Lupton, Tumpa Fellows, Maurizzio Mucciola, Sam Hardingham, Thomas Aquilina

2021-22 Tectonic Tutors

Lewis Kinneir, Madeleine Kessler, William Whitby, Tara Clinton, Sophia Rawlins

2021-22 Critical Practice Tutors

Peter Buchanan, Ruth Lang, Thomas Aquilina, Joanne Preston, Roberta Maraccio

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Practice Network/Student Placement Providers

1. 51% Studio

2. 5th Studio

3. Ackroyd Lowrie

4. Acme

5. Adam Architecture

6. Aedas London

7. AHMM

8. AL_A

9. Alan Baxter

10. Alan Higgs Architects

11. aLL Design

12. Allies and Morrison

13. Alma-nac

14. AOC

15. Apt

16. Arney Fender Katsalidis

17. Ash Sakula

18. Assemble

19. Astronaut Kawada Architecture

20. Astudio

21. Aukett Swanke

22. Barr Gazetas

23. BDP

24. Beasley Dickson

25. BeFirst

26. Ben Adams Architects

27. Benchmark Architects

28. Benedetti Architects

29. Benoy 30. Brady Mallalieu

31. Buckley Gray Yeoman

32. Burrell Foley Fischer 33. C.F. Moller

34. Carl Turner Architects (Turner Works)

35. Carmody Groarke

36. Charlton Brown

37. Chris Dyson

38. Chris Mew Architects

39. Citizens Design Bureau

40. Clive Sall Architecture

41. Coffey

42. Common Ground Workshop

43. Coppin Dockray

44. Cullinan Studio

45. Daab

46. Dallas Pierce Quintero 47. David Chipperfield Architects

48. David Kohn Architects

49. Daykin Marhsall Studio

50. De Matos Ryan

51. Delve

52. Denizen Works 53. DRMM

54. DSDHA

55. Ellis Miller

56. Erect Architecture

57. Eric Parry Architects

58. EVA Studio

59. Fabric Space

60. Facture Architects

61. Farrells

62. Feilden Clegg Bradley Studios

63. Feilden Fowles

64. Flokk

65. Formation Architects

66. Foster + Partners

67. Foster and Partners

68. FreeHaus Design

69. Gensler

70. GPAD

71. Gray Architecture and Design

72. GRID Architects

73. Grimshaw

74. Groupwork

75. Haptic

76. HAT Projects

77. Hawkins \ Brown

78. Haworth Tompkins

79. Henley Halebrown

80. Henning Stummel Architects

81. Herzog & de Meuron

82. Hesselbrand

83. Hobhouse Niall

84. HOK

85. HollowayLi

86. Hopkins

87. HUT

88. Idom

89. IF_DO

90. Interrobang

91. Jack Carter Architects

92. Jan Kattein Architects

93. Jestico + Whiles

94. Jo Cowen Architects 95. John McAslan

96. Jonathan Tuckey Design

97. Julian McIntosh

98. Karakusevic Carson

99. KCA Architects

100. Kiran Curtis Architects 101. Knoll 102. Langstaff Day 103. Liddicoat & Goldhill

104. Lipton Plant Architects 105. Lynch Architects 106. Maccreanor Lavington 107. Mailen Design.com

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Practice Network/Student 108. Make Placement Providers continued 109. Marcus Beale Architects 110. Marko & Placemakers 111. Mica 112. Mikhail Riches 113. Mills Power Architecture 114. Minotti 115. MoBo 116. Morris and Company 117. Mulroy 118. Murphy Philipps 119. NBBJ 120. Neil Kahawatte Architects 121. NG Architects 122. Nick Wilson Architects 123. Nooma Studio 124. One Works 125. Orms 126. Outpost 127. Parti 128. PDP London 129. Pedder Scampton 130. Penoyre & Prasad 131. Pensaer 132. Piercy and co 133. PiM 134. POD 135. Populous 136. Practice Benchmark Architects 137. Prewett Bizley 138. Price Parizi 139. PriceGore 140. Pringle Richards Sharrat Architects 141. RCKa

142. Red Deer 143. Red White Architects 144. Resi

145. Richard Parr Associates 146. RSH-P

147. Russian For Fish 148. Ryder Architecture 149. Salter + Collingridge

151. Schlüter-Systems Ltd 152. Scott Tallon Walker Architects

153. Scott Whitby Studio 154. Sharp Architects 155. Simpson Studio 156. Skene Catling de la Pena 157. Skyroom 158. Smith & Newton Architects 159. SmithBrooke 160. SODA. 161. Solid Space 162. Something & Son 163. Square Feet Architects 164. Squire and Partners 165. Stanton Williams 166. Stead 167. Stiff and Trevellion 168. Studio Egret West 169. Studio Octopi 170. Studio Shaw 171. Studio Weave 172. Studio8fold 173. Surman Weston 174. SUSD

175. Takero Shimazaki Architects 176. Tate Harmer 177. The Furniture Practice 178. The Klassnik Corporation 179. Tonkin Liu 180. TP Bennett

181. Undercover Architecture 182. Unknown works 183. Urban Architecture 184. Urban Narrative 185. Useful Studio

186. USM

187. vPPR

188. Walters and Cohen

189. Waugh Thistleton 190. Wilkinson Eyre

191. William Russell Architects

192. Wright and Wright 193. Zac Monro Architects

150. Savills

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Practice Network/Student Placement Providers continued

Founding Patrons

Niall Hobhouse, Crispin Kelly, Sir Terry Leahy, Davina Mallinckrodt, Nadja Swarovski

Founding Practices

Allford Hall Monaghan Morris, Allies and Morrison, Grimshaw, Foster + Partners, IDOM, Orms, PDP London, Rogers Stirk Harbour + Partners, Scott Brownrigg

Founding Partners

Stanhope, Savills, Tata Steel

Founding Benefactors

Richard Collins, Martin Halusa, Sir Peter Mason

Independent Auditor

MHA MacIntyre Hudson, Sixth floor, 2 London Wall Place, London EC2Y 5AU

Administrators

The Trust Partnership, 6 Trull Farm Buildings, Tetbury, Gloucestershire, GL8 8SQ

Bankers

HSBC, 60 Queen Victoria Street, London, EC4N 4TR

Solicitors

Withers LLP, 16 Old Bailey, London, EC4M 7EG

Academic Partners

London Metropolitan University and the University of Liverpool

Registered offices

141A Mare Street, London, E8 3RH until September 2021 6 Orsman Road, London, N1 5RA from September 2021

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Statement of Trustees’ responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

In so far as the trustees are aware:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website.

On behalf of the Board of Trustees

Signed: Crispin Kelly Date: 12 October 2022

21

Independent Auditor’s Report to the Trustees

Opinion We have audited the fnancial statements of The London School of
Architecture (the ‘Charity’) for the year ended 30 June 2022 which
comprise the Statement of Comprehensive Income, the Statement of
Change in Reserves, the Balance Sheet, the Statement of Cash Flows
and the related notes, including a summary of signifcant accounting
policies. The fnancial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 ‘The
Financial Reporting Standard applicable in the UK and Republic of
Ireland’ (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance
with Statement of Recommended Practice Accounting for Further
and Higher Education 2019 in preference to the Accounting
and Reporting by Charities: Statement of Recommended
Practice issued on 1 April 2005 which is referred to in the extant
regulations, The Charities (Accounts and Reports) Regulations
2008, but has been withdrawn.
This has been done in order for the accounts to provide a true
and fair view in accordance with the Generally Accepted Accounting
Practice efective for reporting periods beginning on or after 1
January 2015. In our opinion the fnancial statements:
_•_give a true and fair view of the state of the Charity’s afairs as at
30 June 2022 and of its incoming resources and application of
resources for the year then ended;
_•_have been properly prepared in accordance with United Kingdom
Generally Accepted Accounting Practice; and
_•_have been prepared in accordance with the requirements of the
Charities Act 2011.
Basis for opinion We conducted our audit in accordance with International
Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our
responsibilities under those standards are further described in the
Auditor’s responsibilities for the audit of the fnancial statements
section of our report. We are independent of the Charity in
accordance with the ethical requirements that are relevant to our
audit of the fnancial statements in the United Kingdom, including
the Financial Reporting Council’s Ethical Standard, and we have
fulflled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained
is sufcient and appropriate to provide a basis for our opinion.

22

Conclusions relating In auditing the fnancial statements, we have concluded that
to going concern the Trustees’ use of the going concern basis of accounting in the
preparation of the fnancial statements is appropriate.
Based on the work we have performed, we have not identifed
any material uncertainties relating to events or conditions that,
individually or collectively, may cast signifcant doubt on the
Charity’s ability to continue as a going concern for a period of
at least twelve months from when the fnancial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees
with respect to going concern are described in the relevant sections
of this report.
Other information The other information comprises the information included in
the Annual Report other than the fnancial statements and our
Auditor’s Report thereon. The Trustees are responsible for the
other information contained within the Annual Report. Our opinion
on the fnancial statements does not cover the other information
and, except to the extent otherwise explicitly stated in our report,
we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent
with the fnancial statements or our knowledge obtained in the
course of the audit, or otherwise appears to be materially misstated.
If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise
to a material misstatement in the fnancial statements themselves.
If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to
report that fact.
We have nothing to report in this regard.
Matters on which we We have nothing to report in respect of the following matters where
are required to report the Charities (Accounts and Reports) Regulations 2008 requires us
by exception to report to you if, in our opinion:
•_the information given in the Trustees’ Report is inconsistent in any
material respect with the fnancial statements; or
•sufcient accounting records have not been kept; or
•_the fnancial statements are not in agreement with the accounting
records and returns; or
_•_we have not received all the information and explanations we
require for our audit.
Responsibilities of Trustees As explained more fully in the Statement of Trustees’ Responsibilities,
the Trustees are responsible for the preparation of the fnancial
statements which give a true and fair view, and for such internal
control as the Trustees determine is necessary to enable the
preparation of fnancial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the fnancial statements, the Trustees are
responsible for assessing the Charity’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless the Trustees
either intend to liquidate the charity or to cease operations, or have
no realistic alternative but to do so.

23

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design

procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s Report.

24

Report on other legal and regulatory

We are required to report on the following matters by the Accounts Direction dated 25 October 2019 issued by the Office for Students (‘the Accounts Direction’).

In our opinion, in all material respects:

We are also required by the Accounts Direction to report where the results of our audit work indicate that the Charity’s grant and fee income, as disclosed in notes 2 and 3 to the financial statements has been materially misstated. We have nothing to report in these respects.

Use of our report

This report is made solely to the Charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity’s Trustees those matters we are required to state to them in an Auditor’s Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its Trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

MHA MacIntyre Hudson Statutory Auditor London, United Kingdom

Date: 8 November 2022

MHA MacIntyre Hudson is eligible to act as an auditor in terms of section 1212 of the Companies act 2006.

25

Financial Statements for The London School of Architecture

Statement of Comprehensive Income for the year ended 30 June 2022

Unrestricted Restricted Total Funds Total Funds
Income Funds Funds Year Ended Year Ended
Notes 2022 2022 30 June 2022 30 June 2021
INCOME
Tuition fees and educational contracts 2 1,040,683 - 1,040,683 820,817
Donations 3 48,000 62,623 110,623 118,164
Other operating income 4 4,324 1,367 5,691 (243)
Total income 1,093,007 63,990 1,156,997 938,738
EXPENDITURE
Raising funds 6,300 - 6,300 5,225
Charitable activities - bursary costs 5 12,000 18,000 30,000 8,600
Staf costs 6 319,187 700 319,887 296,177
Other operating expenses 7 759,647 34,530 794,177 537,279
Depreciation and disposal of fxed assets 8 6,490 - 6,490 26,978
Total expenditure 1,103,624 53,230 1,156,854 874,259
Total Comprehensive Income/(Expenditure) for the period (10,617) 10,760 143 64,479
Statement of Changes in Reserves
Balance as at 30 June 2020 210,546 - 210,546
(Defcit) from the income and expenditure account 64,479 - 64,479
Balance as at 30 June 2021 275,025 - 275,025 210,546
Income/(Defcit) from the income and expenditure account (10,617) 10,760 143 64,479
Balance as at 30 June 2022 12 264,408 10,760 275,168 275,025

All of the charity’s activities derived from continuing activities

The notes on pages 28 to 36 form part of these financial statements

26

Balance sheet as at 30 June 2022
Notes 2022 2022 2021 2021
NON CURRENT ASSETS
Fixed assets 8 19,405 10,023
CURRENT ASSETS
Trade and other receivables 9 87,828 51,076
Cash and cash equivalents 319,735 331,003
407,563 382,079
Less: Creditors - amounts falling due within one year 10 151,800 117,077
Net current assets 255,763 265,002
Total net assets 275,168 275,025
RESERVES
Unrestricted Income Funds 12 264,408 275,025
Restricted Funds 12 10,760 -
Total Reserves 275,168 275,025
Approved by the board of Trustees on 12 October 2022:
Crispin Kelly
Neal Shasore
The notes on pages 28 to 36 form part of these fnancial statements
Statement of Cash Flows at 30 June 2022
Year Ended Year Ended
Notes 30 June 2022 £ 30 June 2021 £
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash used in operating activities 11 4,604 (48,935)
CASH FLOWS FROM INVESTING ACTIVITIES:
Website development 8 - (9,600)
Purchase of equipment (15,872) -
Net cash used in investing activities: (15,872) (9,600)
Change in cash and cash equivalents in the reporting period (11,268) (58,535)
Cash equivalents at the beginning of the reporting period 331,003 389,538
Cash and cash equivalents at the end of the reporting period 319,735 331,003

Analysis of changes in net debt: There were no borrowings during the reporting period or prior period.

The notes on pages 28 to 36 form part of these financial statements

27

Notes to the Financial Statements for the year ended 30 June 2022

1. Accounting policies

1.1 Basis of accounting

1.2 Status

1.3 Critical accounting estimates and areas of judgement

1.4 Going concern

1.5 Fund accounting

28

Notes to the Financial Statements for the year ended 30 June 2022 continued

1.6 Recognition of income

1.7 Expenditure

1.8 Foreign currency translation

1.9 Debtors

1.10 Cash at bank and in hand

1.11 Creditors and provisions

• Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

29

Notes to the Financial Statements for the year ended 30 June 2022 continued

1.12 Tangible Fixed Assets


as follows:
Ofce equipment 33% straight line
Website development 33% straight line

1.13 Taxation

1.14 Operating Leases

1.15 Financial Instruments

1.16 Pension Policy

1.17 Termination Benefits

30

Notes to the Financial Statements for the year ended 30 June 2022 continued

Unrestricted Other Restricted Total Funds Year Total Funds Year
Income Funds Funds Ended Ended
2022 2022 30 June 2022 30 June 2021
£ £ £ £
2. Tuition fees and education contracts
Tuition fees UK 834,150 - 834,150 718,317
Discounts on tuition fees UK (8,950) - (8,950) (4,200)
Tuition fees EU 185,333 - 185,333 104,000
Discounts on tuition fees EU (1,350) - (1,350) (800)
Tuition fees Rest of World 31,500 - 31,500 3,500
1,040,683 - 1,040,683 820,817
In 2021 all tuition fee income was unrestricted
3. Donations
Donations 48,000 59,881 107,881 92,917
Government Grants: Ofce for Students - 2,742 2,742 25,247
48,000 62,623 110,623 118,164
Included within donations
Founding Practices - - - 36,500
Founding Patrons - - - -
General Donations - - - 56,417
0 - 0 92,917
2021 Comparative Totals, unrestricted income funds were £68,175 and other restricted funds were £24,742, totalling £92,917.
4. Other operating income
Graduation Lunch 2,404 - 2,404 (108)
Other Student Fees 1,877 1,367 3,244 (140)
Bank Interest 43 - 43 5
4,324 1,367 5,691 (243)
In 2021 all other operating income was unrestricted
5. Charitable activities - bursary costs
Bursary Funds
LSA 12,000 18,000 30,000 8,600
12,000 18,000 30,000 8,600
2021 Comparative Totals, unrestricted bursary expenditure was £8,600 and restricted bursary expenditure was £NIL, totalling £8,600.
2022 2022 2022 2021
Students who benefted from bursary awards during the 8 2 10 9
accounting period

The published A&P plan for the LSA is currently under review and a new plan will be submitted for approval during 2022/23. https://apis.officeforstudents.org.uk/accessplansdownloads/2024/TheLondonSchoolOfArchitecture_APP_2020-21_V1_10062810.pdf The current A&P Targets and Investment Plan covers 3 areas which are monitored and evaluated:

31

Notes to the Financial Statements for the year ended 30 June 2022 continued

6. Staff costs

The average number of persons employed during the period and at 30 June 2022 was:

Year Ended Year Ended
Average 30 June 2022 Average 30 June 2021
Number Number Number Number
Teaching staf 3.75 3.00 4.60 5.00
Non-teaching staf 7.25 7.00 6.50 7.00
11.00 10.00 11.10 12.00

STAFF COSTS FOR THE ABOVE PERSONS:

STAFF COSTS FOR THE ABOVE PERSONS:
Wages and salaries
Termination payments
Social security costs
Pension costs		 Unrestricted
Funds
Year Ended
30 June 2022
£
Restricted
Funds
£
Unrestricted
Funds
Year Ended
30 June 2021
£
Restricted
Funds
£
285,815
700
268,180
1,478
2,500
-
-
-
25,661
-
22,184
-
5,211
-
4,077
258
319,187
700
294,441
1,736

The Head of Institution remuneration is disclosed below. There were no further taxable or non-taxable benefits paid.

The Trustees consider its key management personnel comprise the Head of Institution. No other staff members were considered to be higher paid.

Key management personnel 2022
£70,000 to
£75,000
1		 2021
£65,000 to
£70,000
1

No employees received remuneration of more then £100,000 (2021 no employees). Key management were paid £71,320 during the year (2021 £68,992).

The basic salary of the head provider in 2022 and 2021 was £70,0000.

The salary of the head provider was 1.44 times the mean average of all other staff salaries in 2021/22 (2020/21 1.87 times)

The salary of the head provider was 1.44 times the median average of all other staff salaries in 2021/22 (2020/21 1.96 times)

The remuneration package for the CEO of the LSA reflects the size and reputation of the school and the CEO’s overall responsibility for all aspects of the school’s performance. The CEO is required to lead the school, taking an active role in recruiting and teaching students, fund raising, motivating and inspiring staff whilst engaging with the wider architectural world.

The remuneration package is set by the trustees’ remuneration committee. The committee regularly reviews market data for educational institutions of a similar size, complexity, location and reputation. The committee acknowledges that the CEO must be flexible and creative, particularly in the current circumstances when the environment for higher education faces unforeseen external pressures.

The remuneration package recognises that the CEO is supported by key management personnel and trustees but is ultimately responsible for the school and its students.

The CEO’s performance is judged by the trustees in several ways including the number of students recruited and graduating from each cohort, the annual financial outturn of the school, the quality of the student output and experience, the external reputation of the school and the school’s success in meeting its vision as set out in the access and participation plan.

Non statutory termination benefits (payment in lieu of notice) was paid to 1 employee during the year (2021 no employees).

32

Notes to the Financial Statements for the year ended 30 June 2022 continued

7. Other operating costs

Teaching costs
Non-teaching costs:
Legal fees
Consultancy fees
Auditors' remuneration
Events
Accountancy
Marketing
Other
Premises costs		 Year Ended
30 June 2022
£
41,161
126,565
20,760
7,610
22,422
3,119
128,046
Unrestricted
Funds
2022
£
279,046
349,683
130,918

2022
£
-
5,100
-
8,920
-
442
6,394
Restricted
Funds
2022
£
12,344







20,856
1,329
Total
Funds
2022
£
291,391
41,161
131,665
20,760
16,530
22,422
3,561

134,440		 Unrestricted
Funds
Year Ended
30 June 2021
£
Restricted
Funds
2021
£
Total
Funds
2021
£
202,283
25,247
227,530
6,200
-
6,200
92,112
22,090
114,202
12,900
-
12,900
0
-
0
22,580
-
22,580
2,210
-
2,210
75,576
916
76,492

132,247		 75,165
-
75,165
759,647 34,530 794,177 489,026
48,253
537,279

Teaching costs in 2022 included contract staff costs totalling £182,053 (2021 £119,452).

8. Tangible fixed assets

8. Tangible fxed assets
Ofce
equipment Total
£ £
COST
At 1 July 2021 15,893 15,893
Additions 15,872 15,872
At 30 June 2022 31,765 31,765
DEPRECIATION
At 1 July 2021 5,870 5,870
Disposals - -
Charge for the period 6,490 6,490
At 30 June 2022 12,360 12,360
Net book value at 1 July 2021 10,023 10,023
Net book value at 30 June 2022 19,405 19,405

9. Trade and other receivables

9. Trade and other receivables
2022 2021
£ £
AMOUNTS FALLING DUE WITHIN ONE YEAR:
Prepayments and accrued income 27,335 17,484
Other debtors 31,755 31,755
Trade debtors 28,738 1,837
87,828 51,076

33

Notes to the Financial Statements for the year ended 30 June 2022 continued

10. Creditors

10. Creditors
2022 2021
£ £
AMOUNTS FALLING DUE WITHIN ONE YEAR:
Trade creditors 79,303 38,147
Taxation and social security 9,288 8,020
Deferred income 21,002 32,201
Accruals 41,804 37,156
Other creditors 403 1,553
151,800 117,077
Deferred income b/fwd at 1 July 2021 32,201 49,553
Amounts released in the period (32,201) (49,553)
New amounts deferred in the period 21,002 32,201
Deferred income c/fwd at 30 June 2022 21,002 32,201

Deferred income represents revenues collected but not earned as of 30 June 2022. This is primarily composed of income collected in advance of courses taking place and deferred until the organisation is entitled to that income.

11. Reconciliation of net income / (expenditure) to net cashflow from operating activities

2022 2021
£ £
Net income/(expenditure) for the reporting period per 143 64,479
the statement of fnancial activities
ADJUSTMENTS FOR:
Loss on disposal of fxed assets - 16,972
Depreciation charges 6,490 10,006
Decrease in debtors (36,752) 8,865
(Decrease)/Increase in 34,723 (149,257)
creditors
Net cash used in operations 4,604 (48,935)

34

Notes to the Financial Statements for the year ended 30 June 2022 continued

12. Funds

1 July 2021 Income Expenditure 30 June 2022 Expenditure 30 June 2022
Unrestricted Income Funds 275,025 1,093,007 (1,103,624) 264,408
Other Restricted Funds - 63,990 (53,230) 10,760
Total Funds 275,025 1,156,997 (1,156,854) 275,168
1 January 2020 Income Expenditure 30 June 2021
Unrestricted Income Funds 210,546 888,749 (824,270) 275,025
Other Restricted Funds - 49,989 (49,989) -
Total Funds 210,546 938,738 (874,259) 275,025

Restricted funds includes donations and grants received for specific projects, including the Collaborative Change Project funding from FT Works, November Talks programme funding from the STO Foundation, the Summer Shows funded by AHHM, The Furniture Practice and Crispin Kelly, RIBA donation for the Stephen Lawrence Day Foundation bursaries, donations towards the LSA 100, Bydgoszcz University of Science and Technology funds for the Polish delegation visit and grant funding from the OFS. Remaining funds from RIBA and the LSA 100 will be expended in 2022/23.

13. Analysis of net assets between funds

13. Analysis of net assets between funds
Fixed Net
Assets Assets 30 June 2022
Unrestricted Income Funds 19,405 245,003 264,408
Restricted Funds - 10,760 10,760
Total Funds 19,405 255,763 275,168
Fixed Net
Assets Assets 30 June 2021
Unrestricted Income Funds 10,023 265,002 275,025
Total Funds 10,023 265,002 275,025

14. Post balance sheet events

There have been no significant post balance sheet events.

15. Commitments under operating leases

35

Notes to the Financial Statements for the year ended 30 June 2022 continued

As at 30 June 2022, the Charity had annualised operating commitments under non-cancellable operating leases expiring as follows:

2022 2021
£ £
Expiring within one year 99,000 95,158
‘- Land and Buildings 99,000 95,158
Expiring within two to fve years
- Land and Buildings 16,560 115,560
16,560 115,560

The value of lease payments made during the year was £108,312 (2021 £62,044) and £95,592 (2021 £68,904) was recognised as an expense in the financial statements.

16. Related party transactions

The architecture firm AHMM made donations of £7,500 in the year (2021 £5,000) and were paid £0 (2021 £660) for teaching time. One of AHMM’s principals, Simon Allford, is a Trustee. Trustee Crispin Kelly donated £1,500 to the charity in the year towards an event held. £1,500 was outstanding at the year end and received shortly thereafter.

17. Comparative Statement of comprehensive income for the year ended 30 June 2021

Unrestricted
Income Restricted Total
Notes Funds 2021 Funds 2021 Funds 2021
INCOME
Tuition fees and educational 2 820,817 - 820,817
contracts
Donations 3 68,175 49,989 118,164
In-Kind income - - -
Other operating income 4 (243) 0 (243)
Total income 888,749 49,989 938,738
EXPENDITURE
Raising funds 5 5,225 5,225
Charitable activities - bursary costs 5 8,600 - 8,600
Staf costs 6 294,441 1,736 296,177
Other operating expenses 7 489,026 48,253 537,279
In-Kind expenditure
Depreciation and disposal of 8 26,978 - 26,978
fxed assets
Total expenditure 824,270 49,989 874,259
Total Comprehensive Income for the year 64,479 - 64,479
Statement of Changes in Reserves
Balance as at 30 June 2020 210,546 - 210,546
(Deficit) from the income and 64,479 - 64,479
expenditure account
Balance as at 30 June 2021 12 275,025 - 275,025

36