Charity Regi8trntlon No. 1164854
Company Reglstration No. CE00$767 (England and Wal•sl
INSTITUTE FOR RESEARCH IN SCHOOLS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

INSTITUTE FOR RESEARCH IN SCHOOLS
LEGALAND ADMINISTRATIVE INFORMATION
TTu$tees
Humphrey Battcock (Chairl
Professor Sir Lesz8k Borysiewicz
rimolhy Edwards
Professor Damg Julia Goodfellow
Ann Mroz
Rev Professor Mlchaal Re15S
Chfyrlty numbor
1164654
Cornpany numbor
CE005767
Re9l•tered offlcg
Wellcome Wolfson Buildlng
165 Queen'¥ G8tO
London
SW7 5HD
Independent •xamln•r
Dovld Wal¥h FCCA
Baxter & Co
Lynwood Hous8
Crofton Road
Orpinglo
Kent ME19 4JQ
Bankern
Barclays Bank PLC
83 Wandsworlh Hlgh Streèt
Wandsworth
Londvn
SW182PR
80lleltorg
Weil Golshal M&ng85
110 Fetter Lane
London
EC4A 1AY
Accountant•
Crossley FlnancialAccounllng
Star Hou$0
star Hill
Rochester
Kent
ME1 1UX

INSTITUTE FOR RESEARCH IN SCHOOLS
CONTENTS
Page
Trusle86' rèport
Ind8p8ndent 8xamingrfs fOPOrt
Slalem8nt of Ilnanclal actlvlll•s
Statement of flnancl81 p08111on
Slalem8nl of cash flowo
Note3 to tho flnand81 st8lemenl$
10-19

INSTITUTE FOR RESEARCH IN SCHOOLS
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their report and financlal slatamenls for the year ended 31 March 2021.
The financial statements have been prapared in accordanee wilh the accountlng policiès set out in nole 1 to
Iht financi81 slalements and comply wilh Ihè charity company's ooverning document. the Companies Acl 21W6
ancl 'Accounting and Reporting by ChafS1ies'. Slalament ol Recommended Practice appllcable to cM3rilles
preparing their accounts Sn accordance with the Financial Reporting Slandard applicable in the UK and
Republlc of 5r¥land IFRS 1021 1?s amended for accounting periods commencing from 1 J8nuary 20161
Sln¢e the company 4uallfle5 a8 small under se¢iK)n 383, strategic report required ol medium ènd large
companie5 under The Companle8 Act 2006 Istratèglc Report and Directorfs Report) Regulations 2013 is not
fequired.
Obloetlves and actlvltl•g
Th8 In51iluta lor Rese8rch In Schools IIRISI is 8 chgrily Ih8t was rounded In 2016. The purpose of the charity
18 to Bpprk young p8opl8'9 passlon lor STEM subjects and inslll an appwcialion ol reseafch by..
Providing opportuniliea lo particlp8ta In cullin9-6dge STEM research while still In School.
Pfovlding tgacher$ and techniclaris wllh the support they n*&d lo conlrlbule lo, and mentor, sclen¢a
rese3rch with thelr students.
Promoting and faci1S1)ling 5uslainod collaborations ba￿een schools and unlverslliès.
To dale. the main actlvily und?rtaken by the charily has been the en9agemenl tsl leacher5 and sludents in
rèsearch projects that enable Ihern to partlclpalo in culllng-adge s¢i8nc6. Th5$ support$ awareness ol STEM
career3 and providès 1ink5 Into universilles and Industry for studenls and leachor5. enhanclng Iheir learnlng
and crèallng benaficial networks,
Th¢ work of the charity Mas rec8ntly grown to Incorporale addlllonal ?lamenl$ as well as Ime Provlslon and
calebralion ol thes¢ cultlng-edge projecls In schotsls. Part ¢f our work is provlding evldence ol good practice in
aulhenlic r8sear¢h In 3chools and Jh8ring Ihlg Informallon wllh Schools, sehool leader5, Induslry and
universities.
Thè charity also 8Sm8 lo bulld c8paclty In Schools whl¢h do not currentty engage Ihelr $ludents In r8sear¢h. To
help us achleve Ihls alm we are developing p Researth ond Innovation Frgmework whlch will be laun¢hed In
S8p(embgr 2021.

INSTITUTE FOR RESEARCH IN SCHOOLS
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT} {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Achlevements and perfomiance:
As of March 2021. IRIS was running 93 proj8cls with 664 sludents in 56 different schools. This Is despite the
$ignificanl disruplion ol schools as a result of the Covld-19 pandemic. We anlicipale a significant uplifl in the
numb8fS Df schools and studenly 8Ctively engaging with projecls nexl year as Ihe impact ol Covid-19 15 felt
less stiongly. Additionally, we have implémenied a new monitoring and reporting system to provide a more
accurate picture of how many students are benefitting from IRIS. work.
We have slgnlflcanlly expanded our Staff team ov8r the past year. In August 2019. Dr. Jo Fostèr was
appointed as Direclor and several key changes to the organisalion were made during 2020. A slraleglc plan
was implemented lo secure and enhance the financial and operational lulur¥ of the oiganisallon.
We have developed the resources availablè to schools to rnake them more accè5slble. All prolecls now follow
lour-pha8e formal Ihal guide5 studen15 through Ihelr re898r¢h, from developing background knowledge 10
formali5ing and lesllng their own que$llons. Students then sharo their findings with Iheir peers and the
national research ¢omrnunily through the IRIS conferencès. While Ilexible. our projecls are now alipned wilh
th& a¢ademlc school year. IRIS prolecls are supported wllh con¥islenl and slruclured resourc¢$ Ihal can be
8ccessed by ¥lther students or their le8chers. Tea¢htrrs' evaluation résponses regardin9 our new resources
hove been strongly poslllve.
Our planned conferencè prograrnrne lor 2020 was cancelled because ol the re8lricllons Imposed due lo
Covid-19. In late 2020 a decision was taken to hold Ilie May 2021 conferences virtually. Thls gave u$ 1Sme lo
prepare and provldad a degr$6 ol cert8lnty for School staff and sludenls.
Wè launched a new website whlch provKles a visually exciting platform for our work. Our web trafflc has
Increa5e4, wilh over 700 new users during March 2021. and we hav8 plans lo develop thi5 further
We hav• Impr0v8d our internal ev8lualion programme and published an Impact R¢port to show the effocl our
¢an be found on our website. Evaluation and feedback from leachers and sludenls led inlo Ihe red?velopment
of our projects, wabsile and working pracllces.
As in previous years. In16rnal evaluation indicated very strang SUPPOrt for our work, wllh bolh teachers and
sludenls belng oveNh6lmlnoly posllive about their experlenca. Evaluallon que51ionnaires have now been built
Into the project framework. rosulling in much hlghér response rates le.9. 82Vo ol sludgnls In Aulumn 20201.
which enable us Io ¢oplure m95sages more clearty.
Teachèrs reporied that our projeds motivale and chalJEn98 sludgnts, while also glvSng a conl?xl for science
learning. Slud6ntS Say our projects glve th¢m a broader understanding ol scien¢6 and show them how
$Gience can help In thè re81 world. They ¢njoy the projects and say thèy also develop skllls such as team
worklng and cornmunicalion. In the 2020 follow-up survey. while 98% 01 our studenls said they want 4 career
In sci8nce, 40% fvlt more certain about this after doing the projecl than they had beforehand.
W8 have ambitious plany to strengthen oui avalualion and have appointed a research team from Unlversily
College London lrnslitute of Education lo extèrnally evaluate our work and the impa¢1 it has on allainmenl and
progre55ion.

INSTITUTE FOR RESEARCH IN SCHOOLS
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Flnanclal Review
Income for the year totalled £504,372, of which £4,250 wa5 related to grants and projecl funding. Grant
income was le38 than exp¢cted du8 to the irnpact ol the 2020 pondemic on the funding environmenl. Many
fundlng schemes were paused or reduced and there was, Ih8relore, increased competition for these limited
resources.
Expenditure lor the year was wilhln budg8t. As a result ol the p8ndemiG. expenditure decreased lo É531,007
from £605,972 In the previous year. This decrease was Sar9ely due to reduced spending on salaries - Iherg
was a delay in ono post holder starling th&ir ro18 and another post holder reducod Ihelr hours. Additionally,
travel costs wero much lower than anlicipaled.
The IRIS leom was 8ble to Continue working from home due lo Its cloud-based Infrastructure ond 518ff home
office setups. As IRIS. aclivity moved enllrely onlina, there wa5 less spending on office and prlnling expenses.
IRIS ended the financial year wilh funds avaSlable of £376.260. all unrestricted.
Mlnlmum Regerves Pollcy
Thg Trusl&es have adopted a pollcy lo rnalntain r8s8rves lo be in excess of 3 months oxpendilure. The
Trustee3 increased Ihp requir8d minimum reserve balance lo £185,QOO from £180.000 to cover IRIS
expenditure lor ciica 3 month5.
People #nd Org4nlsatlon
Tho team has expanded wilh new foles bging crealod, Including a Communlcalions Managor and Graphic
Designer, Vve al80 recrulted Ihree new Regional School Engagement Leads. on# ol whom leads on Original
Research, lo further develop thi5 a¥pecl ol our work. Wg have also strengthened our focus on evaluation,
promotino our Research Assoclale lo Evaluolion Lead and SntggratlTIg ovalualion into all Ihal wè do.
A Deputy Director and Development Manager hava been re¢ruiled to 510rt Work early in tho next financial year.
Th8 Deputy Direclor will support the Director and further promulgate th6 work on the Res#arch and Innovalion
Frafflework. The Development Lead will devise a strategy lor fundraising to ¥ecure lurthor income slreams.
SlÉve Greenwood, who has been involved with IRIS Irom inception, has giv$n notice Ihal he will lake
ratlremenl in July 2021.
The TruBl8es thank Ouf 0Srector, Jo Fosl8r, and all her team lor rèspondlng so well 19 the Covid-19 pand8mic
and for adapting to the challenges It presantad, taking the opportunity to make IRIS more resiliént lor th*
lulurtr.

INSTITUTE FOR RESEARCH IN SCHOOLS
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2021
Rosponse to Covid-19
We havè responded prDmplly and effectively lo the challenges raised by Covid-19. The pandemic and
subsequent Èockdown and school closures presented significant challengos lo IRIS, as lo all oryanisalion5
who work directly with teachers and 8ehoo13. In response to impending school c105ures, in March 2020 we
worked quickly lo redesign one of our research projects so Ihal it could be accessed by sludenls wilhoul
explicit teacher support. We promoted this research project through existlng IRIS schools as well as using our
so¢ial media channels and webslte.
This project Introduced students lo C05mSc Minlng and key Ihemes from tha maln project, including 3peclral
analysi5 and pholorllelry,
187 sludenl6 from 60 different schools completed thè project. 73% of students were from slate schools while
21% weig from independent and 60/0 frorn International schools.
The fe¢dback rgllecled Irom the post participalion survey was very posilive. Students reporled that they look
part In the project becouse they wanted lo learn more about Ihe topics involved. The posl partlcipalion survey
re5Lills show that p?rtlcipanls lett that they leaml 8 lot Bboul th• key them0$ explor$d in the prolg¢1, including
Webb.
While Covid-19 pre5ènled Ihe org8ni5ation with many challènges, It also gav¥ u5 some lime and space lo
reflect on what we have achieved 50 far and con5idoi how we build on this lo aohieve our aim of providing
opportunitie5 for authentic research in Schools. Although still in the e3dy sl8985, the Director has started lo lay
oul the foundation5 01 a new and ambllious slrale9ic direclion lor IRIS. Al the heart of this ViSiDn is
collaboration with a wlde range of partner organisalions lo amplify IRIS, message.
We are developing 8 4-day, iesldential CPD course for teacher5 Qn 'Researeh In Schools,. which will be
hosted and lully funded by STEM Learning In Summer 2021. Each allending teacher will raceive a bursary of
£600. STEM Learnlng'5 investment In thls programmg is 8 testsmenl Ihelr confidence in IRIS and our work.
SITueture, 9overnane• and managem*nt
IRIS is a Charitable Incorporated Organi5ation ICIOI registered wlth the charl1￿S Commi5slon in England.
regislered number 1164854.
The Tru5te6s. who are al30 the direelor8 for the purpo$a ol cornpony law, and who served durfng the year and
up lo tha dale ol slgnature ol th8 financial 5talemen15 were..
Humphrey Battcock
Professor Steven Rose Iresigned May 20201
Prolgssor Sir Le$zak Bory51ewicz
Profe550r Dame Julia Goodlellow
Ann Mroz
Timothy Edwards
Reverend Professor Michael Reiys
Humphrey B81tcock reTralns as the elected chair.
All Tru51ees completed Safeguarding Iralning as part of IhE ongoing comrnilmenl to saleguaidin9 Wlthin the
charity.

INSTITUTE FOR RESEARCH IN SCHOOLS
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2021
Saf8guardlng and Health & Safety
Durin9 the period the post of Health & Safoty Offlcer was held by Michael Grocott. The post of Safeguarding
Officer was held by loinlly Di Jo Foster (England & Wales) and Laura Tyza¢k Iscotlandl. A11 staff have
reGeived appropriate guidance in these lrnport3nt area$, and there were no reported incidents duTtng the y8ar.
The Tru51ees' report was approved by the Board of TTysl6es.
Humphrey Battcock (Chairl
Trustee
Dalod..

INSTITUTE FOR RESEARCH IN SCHOOLS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF INSTITUTE FOR RESEARCH IN SCHOOLS
Independent examlnerfs r•port to the Trustees of Th8 Inslltute For Research In Schools Ithe
'company'l
I report to the charity Trustees on my ex8minalion of th8 accounts ol the company for ltte year ended 31
March 2021.
This report Is made sol¢ly lo the company's Trustees, as 3 body, In accoidance with Part 4 of the Charities
(Accounts and Report51 Regulations 2008. My work has been undertaken so Ihal I mighl slate to Ih
company's Truslees Ihose mallers l am required lo slate lo them In an Independent examiner5 iopori and
lor no olher purpose. To Ihe fu11esl extènt permilled by law, I do not accepl or assuine responsibility lo
any¢ne other than the company and the compony'8 Trustee$ as a body. for my work or lor thi5 report.
Responslbilltl¢s and basls of report
As the Truslees ol the charily land also ils directors lor thè purposes of company lawl you are responsible
IOT the preparabon of Ihe financlal slalemènts In accordance with the requir8menls of the Companies Acl
2006 Ilha 2D06 Acll.
Havlng sa115fied rnysell that the financlal statemenls Of th6 charity are not required lo be audlted under Part
16 01 the 2006 Act and are eligiblè lor Independent examinalion. I report in respect ol rny examinalion of Ihe
chaiily's financi81 slalemenls carried out under section 145 ol Ihe Charities Acl 2011 Ilhe 2011 Acll. In
carrying out my gxaminallon I have lollowed all the applicable Dire¢tions glven by the Charity Cornrnission
under 8oclion 14515llbl ol Ihe 2011 Act.
Ind8p•ndent ex¥mlnerf¥ 8tal¢m•nt
Since Ihe chafily's gfOSS Income exceeded £250,000 your 8xaminer musl be a member tsl a body li51tsd in
section 145 01 the 2011 Acl, I confirm that l am qua5ifi¢d to undertoke Ihe examlnallDn because l arli Fellow
Mamber ol Ihe Associalion of Chartered Cerlifled Accountants IFCCAI. which is one of the11sled bod￿5.
I hgV8 compleled rny examin8llon. l ¢onflrrn that no matters hav• come lo my attention in connection with
the examination giving m8 cause lo believe that in any material r6specl'.
accounting records were not képl in respect ol th8 charity a5 required by section 386 of the 2008 Act,,
or
the financial slalemenls do not accord wllh those records., or
the linancSa1 sl8lements do not compty with the occounling regul￿ments ol Section 398 of Ima 2006 Act
other than any requirement that the accounts giv8 a true and f8ir view which Is not 8 maller considered
as psrt of an independent èxamlnallon., or
the financial slalem8nls have not been prepared in accordance with Ihe methods and p(Incipl•s of Ihe
Stalemenl of Racommended Pracllce for accounting and reporliny by charities applicable lo charities
preparing their accounts in accordance with th8 Flnancial Reporting Standard opplic3ble in Ihe UK and
Republlc of Ireland IFRS 1021.
I have no concerns and have come across no other mallers in connection with the examination lo which
atténtion should ba drawn in this report in order to enable a prDper undeislandlng ol the financial slalernents
e reach d.
David Walsh FGCA
Baxter & Co
Lynwood Housa
Crofton Road
Orpington
Kent ME19 4JQ
Dated..
15 June 2021

INSTITUTE FOR RESEARCH IN SCHOOLS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
Unrestrl¢ted Restrlcted
fund5
fund8
2021
2021
Total Unrestricted Restricled
funds
funds
2020
2020
Total
2021
2020
Notes
Donations
Investments
504,250
122
504.250
122
800.000
141
51,140
851.140
141
Total Incom•
504,372
504,372
800,141
51.140
851,281
Charitablo activities
513,142
17,865
531,007
S72.697
33,275
605.972
Notlgxpendlturèlllncom
lor the yearl
Ne¢ movern8nt In fund¥
18,7701
117,8851
128,8351
227,444
17,865
245,309
Fund balances a11
April 2020
385,030
17.865
402,895
157,586
157.586
Fund balanc8B at 31
March 2021
378,260
376,260
385.030
17,865
402.895
The statement of flnanclal aclivltie5 in¢ludes all galns and losses re¢ognlsed Sn the year.
All in¢ome and expenditure derlvf frorn continulng aclivltle3.
The 3l&lemenl of flnancSal activltles also compli¥$ wllh the r8qulrernenls for an Income and expenditure account
under the Ccmpanle5 Act 2006.

INSTITUTE FOR RESEARCH IN SCHOOLS
STATEMENT OF FINANCIAL POSITION
ASAT31 MARCH 2021
2021
2020
Nots5
Flx?d assets
Intanglble assets
Tangibla a5set5
19.747
11.039
13,901
30,786
13,901
Currènt a$s•t8
Debtors
Cash at bank and in hand
10
13,311
358,897
11,952
409,682
372,008
421,634
Creditors.. Amountg fallln9 du? wlthln
one yair
11
126,5341
132,6401
N81 currgnl asset$
345,474
388,994
Totil a$sgt• 1081 curr8nt Ilabllltl•8
378.260
402,895
Incomg fund$
Restrlcled lunds
Unraslrlcled funds
12
17,885
385,030
378,280
376.260
402,895
The company l¥ enlllled lo th& exempllon from the audll raqulrem&nt conl&in6d in secdon 477 of the Companles
Acl 2008, for thè year endgd 31 March 2021.
The dire¢tors aeknowledge their re8ponsSbililie$ lor ensurlng that the charity keeps accounling rectsrds which
comply wllh seclion 386 01 the Act 8nd for preparing ￿nanCIal slalernénts which give a true and fair view of the
Slalp of aNairs ol the company a5 81 thg end ol the financial year and of ils incoming resources and applicallon DI
resources, Including Its income and expendilure. lor the fln8ncio1 year In 3ccordanc& wllh the requiretllFnls ol
$eclions 394 and 395 and which olherwlse comply with the requirements ol the Companies Act 2006 relating lo
financial 51alemant5, $0 lar aB applScable lo the company.
The member5 have not requlred Ihg cornpany to obtain an audit of Its flnancial sialgrnanls lor the year In
questlon In accordance with sedion 476.
These financial Statements have begn prepared accordance with the provisions appllcable to comp8nles
subject to the amall cornpanies reglme.
The financial statements were approved by the Trustees on
Humphrey 8atlcock (Chairl
Trustee
Company Rggistratlon No. CE005767

INSTITUTE FOR RESEARCH IN SCHOOLS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2021
2021
2020
Notes
Cash flows from operating aetlvltle8
Cash (absorbed byllgeneraled from
operations
15
128,3521
262,281
Investlng octlvltley
Purchase of intangible 8sse15
Purchase of l&ngible fixed assets
Inveslmenl incorlle rgceivèd
122,1061
16491
122
110,0131
141
Net cash u¥8d In Inv85ting a¢livltle8
122.6331
19,8721
Net ca$h used In flnancing actlvitlaj
N•t Idecrgaoelllncr8ase In ¢a$h and rash
•qulval¢nt•
150,9851
252,409
Cash and cash eguivalen15 at tseginning of year
409,682
157,273
Cash and cash equlvalentB pt end ol y•ar
358,697
409.682

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Accountlng pollcle9
Charity information
Institute loi ResearGh in Schoals is 3 piivale comp8ny limited by guarante8 incorporated in England and
Wales. Tha registered office Is Vvellcome Wollson Building, 165 Qu8en's Gate, London. SW7 5HD.
1,1 Accountlng ¢onvgntiDn
The ffnancial statemen15 have been prepared In accordance with Accounting and Reporting by Charilies..
Slalemfrnt ol R8eommended Practice applicable lo charities preparing Iheir accounts in accorrlance with
Ihg Flnancial Reporting Standard 8pplic8ble in Ihe UK and Republic of Ireland IFRS 1021 lelleclive 1
January 20151 Icharilies SORP IFRS 10211. Ihe Financial Rèporting Standard applicable in the UK and
Republic of Ir61and IFRS 1021 and Ihe Companle3 Act 2006.
The Institute For Research In Schools meets the d8finition of a publlc beneflt entity under FRS 102. Assets
and liabilille5 are initially reco9nised at hi51oric81 co&t or Iransaclion value unless olhetwise slated in the
relevant accounting policy.
Th8 financial statements are pr¢pared In sterling. which Ss th8 functional currency of the ch8rlly. Monètary
mDunt5 in Iheye financial sla19men15 are rounded to the nearest £.
1.2 GolnB concern
Al the lime ol approvlng the fin8nclal slal8menls, the Trustees have a reasonabla expectation that Ihe
ch811ty has adequate re50urcey lo continu8 In oper81ional exlslence for the foreseeable lulure. Thus the
Trustees conllnue to adopl the golng concern basi8 OY accounting in preparing the financial s18lemenls.
1.3 Incomlng re3our¢g9
Income 15 recognised when the charity is logalty enlltled lo 51 after any porforman¢e conditions have been
mel, the amounts can bo mgasured reliably, 8nd It Is probab18 thal Inc<>m8 wlll be recttlved.
Cash don3liDns are recogn15ed on receipt. Other donatlons arg recognls&d once th9 eharily has been
notified ol the donation. unle¥8 performance condllions requlre dolerral ol thè amount.
10

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2021
Accounting policies
Icontlnuedl
1,4 Re¥ources 8xpend8d
Expenditure is recognised once there is 8 legal or conslructive obllgation to Iransler economic benefit lo a
third party, il is probable Ihal a tran51¢r ol economlc benefits will b& required in selllemenl and the amounl
of the obligation can be measured rèliably. Expendilurtr Is classified by aclivily. The cosls ol each activity
are made up ol the tot81 ol direcl costs and shared cosls, including supporl costs Involved In undertaklng
each activity. Direcl costs allribulable lo a single aclivily are allocated direclly lo that aclivity. Shared costs
which conlribule lo more Ihall one activity and SLippori cost$ which are nol atlribulable lo a singlè activity
are apporlioned between Ibose activities on a basis consistent with the us& ol ￿sOurCeS. Céntral staff
cosls are allocalod on the basls of lime spent, and depiecialion charges allocated on Ihe portlon ol the
as58t's use.
Fundralslng costs ar? those In¢urred in $oeklng voluntary contributions and do nol include the costs ol
dlssemlnaling infurmalion in support of the charitable aclivilies. Support costs are Ih05¢ costs incurre
dlreclly in suppori of expendllure on the objecls ol the company and include piojecl management carried
out at Headquarter3. Governanc* costs arg those incurred in ¢onneclion with adminislralion ol Ihe
Company and complianc& with conslilullon81 and slalutory requiiemenls.
Costs ol generating funds 8r8 cos15 Incurred in allracling Voluntary incorne, and those incurred in trading
aclivilies that raise funds.
Charitable activities and Govtrrnance costs are ¢osls Incurr8d on thè company's aperalions, includ1ng
support costs 8nd cost8 r&lallng lo the governance ol the ¢ompany Bpportioned lo charilablg aclivilios.
1.5 Intangible flxed assets other than goodwlll
Intangible assets acqulred separately Irom a business are rocDgnised 81 cost and are subs&quenlly
measur8d al cosl185s accumulaltrd amort15allon and accumulJled Impairm8nl losse¥.
Inlanglble assets acqulred on buslrtess combinations are racognls¥d separatèly from goodwill at the
acquislliun d81e where il is probable that Ihe expected lulurg econornic benefits Ihal are 8tlribulablg to the
a5sel will now lo the entity and lh¢ lair valutr ol Ihe asset can be measured reliably., th& intangible assel
arises from conlraclual or other lègal rights,. and the Inlanglble a55è1 Is separable from the entity.
Arnortlsallon Is raoogn15ed so a8 lo wrlle off th• cost or valuation of assets less Iheir residual value5 ov¢r
their useful lives on the lollowlng b858S'.
Websit8 d&velopment
S year straight line
1.6 Tanglble flxed 38$ets
Tangible fixed 8S5ets are initially measurèd al cost and subsequently rneasured at cost or valuation, nel of
deprecialion and any impairment losses.
Depreciation Is reco9nised so a5 to write Dff the cost Qr valuallon of as5els less their resldual values over
their useful lives on the following bases..
Plant and equlpment
Computers
3 year8 straight Ilne
5 years slraiuht Iln8
The gain or los$ arlsing on the disposal of an asset Is dg18rn1Ined as th8 differencè belmeen the sale
proc88tJ5 and the carrying value of th8 asset, and Is recogni58d in nel 1ncornellexpend￿UreI lor the year.

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Accounting pollcles
Icontlnuedl
1.7 Financlal Instruments
The charity ha5 ele¢led to apply the prDvisions ol Section 11 '8851c Financial Inslrumènls, and Section 12
'Olhei Financial Instruments Issues, ol FRS 102 to all of Ils financial inslrumenls.
Financial insliumen15 8r8 recogni5ed in the chaiitys balance sheet when the charity become8 party to the
conlraclu81 provision5 Of the inslrumenl.
Financlal a5sel$ and liablllllos arg offsel, wSlh tha nel amoun13 pre$enled in the financial statements, when
there is a18gaSly enforceable ri9ht to set off the recognisèd amounts and there is an intèntion lo seiiie on a
net basis or lo reali5e the asset and settle the Ilabilily 5imullaneously.
Basic fin8n¢l81 assgts
Basic fin8nci31 asse15. wh￿h Include deblors and cash and bank balancgs, are inllially rneasuied al
Irynsaclion price Including transaction cos15 and are subsequenlly cariied al amoilised cost using ltte
eiffrcllve interest rnelhod unles5 the arrangomenl conslllules a financin9 Iransa¢lion, wher+ the transaction
is rne3suied at the present value ol the lulure receipts d5scounled al a rnarket rale ol Interest. Financlal
a85els dassilied as rec8ivable wilhin one year ar¢ not amortised.
Bhsie Ilnancial liabilltlos
Basic financial liabilities, Includlng ¢redltors and bank 108ns are initially recogniygd at tran$aclion price
unless th8 arrangement constilule5 a financing transaction. where the debt instrument is measur8d al the
present value of the luluie payments dlscounted al a maikel rate of interest, Flnancial liabililles cla55ilied
a3 p8yatile withln one ygar aro not amortised.
Debt in51rurn•nls are subsoquently ¢arried at amortlsed Cost, uslng thè affective interest ratè method.
Trado credllors a18 obligalians to pay lor goods or saNice5 that have been acquired in Ihe ordinary course
of operations from suppliers. Amounts payable ara clas5ilièd a5 current liabllilie3 il payment is due wilhin
ona year or less. 11 not. thèy are pr£$enled 83 non-curront ligbililies. Trade creditors ale recogn15ed iriiliall
at transaction price and subsequently measured at amortised cost using the effective inlefesl niethod.
1.8 R•tlroment benèflts
Payments lo d81ined contribution ¥tlir¢rnenl benefit schemes are charged 85 an expense as they fall due.
1.9 Fund accountlng
General funds are unreslricled funds which aro available for use al the discretion of the Truslees in
furtherance ol the ggneral objèclive5 01 the company and which have not been design8led lor olhei
purpo$es.
Reslrlcted fund5 are lund5 whlch are lo be used in accordancè with specific restrictions imposed by donor5
or which h8ve been ra15ed by the company lor pgrticular purposps. The costs of raisln9 and admini516fing
such funds are char9ed again51 the 5pecili¢ fund. The alm and use of each restricled fund is sel out in the
notes lo the financlal statemen15.

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Donations
Unrestricted Unreetrfcted Restricted
funds
funds
funds
Total
2021
2020
2020
2020
Donations
Grant income
500,000
4,250
800,000
800,000
51.140
51,140
504.250
800,000
51,140
851.140
Donatlons
Donations from IndSvidu81¥
500,000
800,ODO
800,000
500,000
800,000
800,000
Grant Ineomg
UK Space Agency
Royal Comrnlsslon lor thg Exhibition of 1851
Sclgnce & Technologles Facililles Coun¢il
Wellcome Tru51
Universily of 8rlslol
Llniverslty of Manchester
500
14.500
13,492
22,648
500
14,500
13,492
22,848
2.000
2,250
4,250
51,140
51,140
Investmgnt8
Unrestricted UnreslrKl8d
lunds
funds
2021
2020
Bank interest
122
141
13-

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2021
Charitable activitiès
2021
2020
Staff costs
Travel and subsisténce
Prolesslonal lee5
M8rkeliDg costs
Computer coslg
Training costs
Other offica coBI8
Insurance
Conferences
Contracted staff
411,215
329.733
37,671
16.457
28.661
34,882
1,249
1,279
4.205
31,119
40.412
3.687
1,155
4,124
33.172
89.601
10,537
508,434
570,674
Support cosls1s&8 note 51
Governan¢8 coslB (see note 51
19,933
2,640
32,552
2,746
531,007
805.972
An41ysl¥ by fund
Unreslrlcled funds
Rgslrtcled funds
513,142
17.865
572,697
33.275
531.007
605.972
Support COgtB
Support Govornance
costs
obt
2021
Support Governance
costs
costs
2020
Depreciation
Accommodation costs
Othèr office costs
Accounting fee5
Independent
examination fee
5,871
826
3.525
9,711
5.871
826
3.525
10,791
6,889
2.266
12.354
11.043
8.8B9
2.266
12.354
12.099
1,080
1.05e
1,580
1,560
1,690
1,690
19,933
2.640
22,573
32.552
35,298
14

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEOI
FOR THE YEAR ENDED 31 MARCH 2021
Trustees
None ol Ihe Trusl&es lor any persons connected wllh theml receiv8d any r8rnuneration or benelrts from the
charily durin9 the year.
During the year. no trustee h88 been relmbursed lor any expenses12D2D- £3341.
Employe•s
Nurnbor of employees
Th& average monthly number ol ernployees during the year was..
2021
Number
2020
Nurnber
Employees
Staff ¢o$ts
2021
2020
Wag£s and salaries
Soclal security costs
Other penslon costs
334.801
31.543
44,871
277,000
22,553
30,180
411,215
329,733
The numbar ol employe85 whos8 annual remuntrallon was £60,000 or
more were..
2021
Number
2020
Numbor
£60,000. £70,000
15

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Intsngible flxed assets
Websito dovoloptD&nl
Cost
Al 1 April 2020
Additions
22,106
Al 31 March 2021
22.106
Amortl8atlon arhd Impalrmtnt
Al 1 April 2020
Arllortlsalion charged for the ytrar
2,359
Al 31 Mafch 2021
2,359
Carrylng amount
At 31 March 2021
19,747
At 31 March 2020
Tan9lbl6 Ilxed assgts
Plont and
•qulpm•nt
CompulQrn
Total
Cost
Al 1 April 2020
Addillons
20.874
23,043
649
43.917
649
Al 31 March 2021
20.874
23,892
44,566
Depreclallon and Impalrment
Al 1 April 2020
Depreciation chaT9?d In the year
20,874
9,141
3,512
30,015
3.512
Al 31 Marth 2021
20.874
12.653
33,527
Carrylng amount
At 31 March 2021
11.039
11,039
At 31 March 2020
13,901
13,901
16-

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2021
10 Debtors
2021
2020
Arnounts lalling due wlthln on• year..
Trade debtor$
Prepayments ond eccrued Income
2,250
11,061
11,952
13.311
11,952
11 Cr8dltor8.' amounts falllng due wlthln one year
20Z1
2020
Trade credilors
Other credil¢rs
Accruals and dafarred incom¢
S94
6,155
19,785
4.367
2.615
25,658
26,534
32,640
17.

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEOI
FOR THE YEAR ENDED JI MARCH 2021
12 R••lrkl•d fufrt11
Ih• In¢orMlundi ollhry chHIty knc￿d• reltiktedfundl ¢ompri•kng Ih•fL4bthng un¥¥p•ndod oldonallons ¥nd 9rAnis ontlusl Ipr purpui•S
Mcvom*nt In lund•
ID£qffli
UX sY￿A9*￿¢Y
Roypl Comfflsiion 1orExhlbilion 011851
Srlènc• & T•chr￿¢•Y F4cMill•¥ COLW
Ilcomo Trwl
soo
14.350
13.642
22.847
7.328
Wollcomo
Ilcom* plovldod IRIS wllh p th•Cr+t￿n￿ry 9IDDI to tèvor ¢wrh•&di oftd proi•cl foll* lor G•rnm¥ D•cod•r4, V•rtiQO Ind Wtyll Wd. Tho qiqnl iv sub￿￿.1 to
quuiivrfy piymoni in 4rrgitB lof expend1t￿te Incuri•d. Expgndilufft cl•KNd fvIl￿1* tlie loirn¥of th• orani. Thii giinl h48 now boan OxpqndDd *no In• ¢4iiv4d lomard
S¢ienc(t S Tochngl491•5 F•cililiu* Council bay• pwV￿jed iuppvrt Itrf th• d•wbpmertl ol a now woi•d In •ilrophyii¢i lor tg IChD￿l
S4piuillbO1 2411. Yho Hiini ￿v015 Iht dtsvolopmnt ol Ind WPPDrt Ipr icmoii. Spend to d•t• hi¥ ￿•￿ on iht key d•Fi¥ryia￿eS •• dolinqd lor lh•
pnJlKI. Ihthirnnt hoinow bolln frxpgndpd IhD catrnd loM•rd b•1an¢•l* t•

INSTITUTE FOR RESEARCH IN SCHOOLS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2021
13 Analysls of net assets between fund5
UnrgstrScted Restricted
funds
fLFnd8
2021
2021
Total Unie5tricled Restricted
funds
funds
2020
2020
Tolal
2021
2020
Fund balanc85 al 31
March 2021 aro
represented by..
Intangible fixed assets
Tan9ible assets
CuTienl asset
19,747
11.039
19,747
11,039
13.901
13,901
345,474
345,474
371,129
17,865
388.994
376,260
376,260
385,030
17.865
402.895
14 R•lated party transactlorts
The Charitabl8 Cornpany welved donation income durSng the year amounting lo £S00.0(KJ Irom the
Batlcock Charitable Tfust 12020 - £800,000). The 8allcock Charitable Trust 15 a relaled party by viilue ol
Humphrey Ballcock bein9 the Chair ol Truslo8s ol the Charllable Company and a Iru8lee of the Trust, No
mounts were du8 to the Charilabl8 Cornp¥ny al the year end.
15 Cash gonorated from opgratlon•
2021
20ZO
IDeflclll15urpu3 for the year
126,6381
24S.309
Adlu51ments for..
Investment income reco9nisad In slalement ol financi81 aclivllleB
Depreclatlon and impairment of tanglbl8 fixed assets
11221
5.871
6.889
Movement5 in workin9 eapilal..
IlncrBaselldeciease in debtors
(Derreasellincrease In creditors
11,3591
16,1061
7,466
2,758
ash labsorbod byllgeneratgd from opgrations
128,3521
262.281
19